Gretzky rookie card expected to become hockey's 1st to fetch $1M

A Wayne Gretzky rookie card could set a new record when it's auctioned off later this week.

The mint condition 1979 O-Pee-Chee Gretzky rookie card, which is being sold by Heritage Auctions, is expected to become the first hockey card to break the $1-million mark, according to Kevin McGran of the Toronto Star.

"We're really excited to have the king of hockey cards," Chris Ivy, Heritage's Dallas-based director of sports, told McGran. "The timing is phenomenal as far as the people that are interested in this type of thing and the current market. And Gretzky is the greatest of all time for his sport.

"There are only a handful of cards that have passed the $1-million threshold. This will be the first hockey card to do so."

The card is one of only two 1979 O-Pee-Chee cards to receive a PSA (Professional Sports Authenticator) 10 gem mint status.

"When O-Pee-Chee was making these cards in 1979, they didn't lend themselves to be high grade. The paper stock that was used was susceptible to print defects," Ivy explained.

"There are centering issues. The way they cut O-Pee-Chee cards - they used wires (instead of blades). So as those wires dulled, you got those jagged edges. And you can see that jagged edge on this card. Collectors like that look of the jagged edge of the O-Pee-Chee cuts. But that didn't lend itself to high-grade examples either, because there could be chipping, issues in the corners."

Bidding on the card is currently at $662,500 with three days remaining in the auction.

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