Jackie Robinson - 1948 Leaf vs. 1949 Bowman

Jackie Robinson is one of the most iconic baseball players of all time.  Scratch that.  Jackie Robinson is one of the most iconic people of all time.  As such, his cards demand a great deal of attention.  Most would argue that Jackie has two main rookie cards: 1948 Leaf and 1949 Bowman.  

Which one is a better investment?  Let's look at the numbers.

Let's focus on PSA grades 3-7 for each card (as of 9/13/17). 

PSA Population - 1948 Leaf vs 1949 Bowman Jackie Robinson.JPG

 

1948 Leaf
Total (3-5): 566
Total (3-7): 769
Total (5-7): 399

1949 Bowman:
Total (3-5): 437
Total (3-7): 743
Total (5-7): 477

A couple of  observations:

  1.  The population of graded PSA cards is roughly the same.
  2. The Leaf version is more condition-sensitive.  There are ~20% more Bowman cards between PSA 5 and PSA 7 - 477 for Bowman and 399 for Leaf.

So, what is the difference in valuations?  Let's take a look at pricing of the PSA 5, courtesy of VintageCardPrices.com. (As of 9/13/17).

1948 Leaf PSA 5: $4,956
1949 Bowman PSA 5: $1,504

Wow! Look at the premium on the Leaf version.  That difference is significant.  Some of that may be due to the fact that the Leaf version is slightly harder to find than the Bowman version.  And maybe people place a premium on the Leaf version since it was issued a year before the Bowman version, making it, in some people's eyes, Robinson's true rookie card.  

What do you think?  Are there other other reasons when the Leaf version commands such a premium?  For what it's worth, I think that the prices will converge a bit over time.