In 1997, a couple of kids went to a card shop 30 miles outside Denver.
Both bought a pack of 1997-98 Metal Universe basketball cards for $2.49.
Just before opening their packs, one asked the other if he wanted to split the packs. His friend said no, he wanted to keep his own.
As luck would have it, the kid who offered the split opened his pack and found a vibrant image of Michael Jordan against a foil red background waiting for him inside.
Of course, his friend immediately reconsidered and tried to take the original deal, but it was too late. Though far from a savvy collector, the kid holding the MJ card knew he had something special.
At the time, Beckett's price guide listed the card — a 1997-98 Michael Jordan Metal Universe Precious Metal Gems (PMGs) Red Parallel (one of 90) — as being worth $1,080.
He stashed it away in a screw-down, where it would sit for decades.
It was only a few years ago that the kid, now a grown man, began to keep tabs on the value of his singular cardboard keepsake and learned he owned one of the most coveted cards in the entire hobby.
In early 2024, he sent pictures of the card — freshly out of the screw-down — to the team at Mile High Card Company.
“That's it. That's 100% real, like, there's no question that that's real,” Mile High’s Bryan Fritz said upon seeing the card.
PMGs are notoriously condition sensitive. The foil nature of it makes it very easy to scratch and for the corners to deteriorate. Yet this relic managed to remain relatively unscathed, except for the top of the card, which had been mangled by years in a screw-down holder.
In March, Mile High sent it off to PSA, where it received a grade of PSA EX 5. It was only the 30th example graded by PSA and the 67th authenticated by all grading companies total.
The irony was not lost on Fritz.
“A non-hobbyist pulls one of the most iconic cards, and nobody knows about it?” he marveled.
Mile High sold the card for $303,842.40.
For that Colorado man, it's the only card left in his collection.
In hindsight, his buddy's refusal to split the cards ended up as a $300,000 gain.
Will Stern is a reporter and editor for cllct. You can follow him on X at @Will__Stern.