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Expand chart
Data: Action Network; Note: *Valued at $6m, with fractional shares to be sold via Collectable; Chart: Axios Visuals

A 1914 Babe Ruth "pre-rookie" card has been valued at $6 million, making it the most expensive sports trading card of all time.

What's next: The privately-owned card will be partially sold on Collectable, a fractional investing platform where users can buy shares of sports memorabilia.

  • This card depicts a 19-year-old Ruth, then a pitcher with the minor league Baltimore Orioles before the Red Sox bought his contract on July 4, 1914. He made his MLB debut a week later.
  • Collectable will offer 20,000 shares at $3 each, with the total offering equaling 1% of the card's equity. Once that IPO is complete (i.e. once all shares are sold), this will officially be the most valuable card ever.
Courtesy: Collectable

The big picture: The trading card boom that exploded early in the pandemic and evolved with the influx of NFTs has only gotten bigger.

  • When we ran this similar story in March, seven of the 10 most expensive cards ever had been sold in the previous eight months.
  • Since then, four more cards have entered the top 10, including three in the past two weeks.

Final numbers: For the first time ever, the 10 most valuable trading cards of all time are each worth over $3 million.

Go deeper

Felix Salmon, author of Capital
Jun 1, 2021 - Economy & Business

AMC and Mudrick time the market to perfection

Expand chart
Data: YCharts; Chart: Axios Visuals

An early contender for trade of the month comes from meme stock (and movie theater chain) AMC, which sold 8.5 million shares over the long weekend to hedge fund Mudrick Capital Management for $230 million.

Driving the news: The price per share was $27.12, a 3.8% premium to Friday’s closing price. The news caused AMC shares to spike in early trade on Tuesday, allowing Mudrick to then reportedly exit at a substantial profit.

1 hour ago - World

Rich world’s pandemic selfishness won't be forgotten

Photo illustration: Sarah Grillo/Axios. Photos: Scott Eisen/Getty Images

The failure of rich countries to share vaccines and financial assistance with poorer ones during the pandemic will exacerbate the rise in global poverty and could come back to bite them, Nobel Prize-winning economists Esther Duflo and Abhijit Banerjee tell Axios.

Why it matters: Duflo initially believed the pandemic would produce a “more cooperative world order” as rich countries felt compelled to show solidarity with the developing world, potentially boding well for future collaboration on issues like climate change. Now she fears the opposite.

Updated 3 hours ago - Politics & Policy

Congress passes $2.1B Capitol security funding bill

U.S. Capitol police officers testify during a House select committee hearing on the Jan. 6 Capitol riot on July 27. Photo: Andrew Caballero-Reynolds/Pool via Xinhua

A $2.1 billion Capitol security funding bill is heading to President Biden for his signature after the House and Senate passed the legislation on Thursday.

Why it matters: The legislation provides funding for the Capitol Police, the National Guard and other agencies to cover the costs incurred during the Jan. 6 riot.