Does membership have its rewards? The effects of race and Hall of Fame membership on football card values

This article examines the effects of the race and Hall of Fame membership of professional football players on the value of their "rookie" football cards. Several studies have examined the impact of race on the value of baseball cards, but only one paper has examined this topic among football card collectors. Data were derived from 177 black and white football players who are members of the NFL Hall of Fame or who have been on the final voting ballot for the Hall. All of the players in the sample started their careers after professional football became racially integrated. Data for each player's race, value of their rookie card, card availability (scarcity), performance, Hall membership, and position were obtained from secondary sources. The principle finding of the study is that when controlling for factors such as position, performance, and card scarcity, race applies an independent effect on the value of the rookie cards of NFL Hall of Fame members, but not among non-Hall of Fame cards. Speculation on why "race matters" and suggestions for future research are offered.