1997-98 PMG Red Michael Jordan BGS 8.5 Sale

1997-98 SkyBox Metal Universe Precious Metal Gems (PMG) Red cards of Michael Jordan sit at the intersection of 90s hobby nostalgia, true scarcity, and modern high-end pricing. A copy of this card – 1997-98 SkyBox Metal Universe Precious Metal Gems Red #23 Michael Jordan (#039/100) graded BGS NM-MT+ 8.5 – sold at Goldin on 12/07/25 for $651,334.

For collectors who follow PMGs or Michael Jordan grails, this sale is another data point in a market that has matured significantly over the last few years.

The card: 1997-98 Metal Universe PMG Red Michael Jordan #23

Let’s start with the basics:

• Player: Michael Jordan
• Team: Chicago Bulls
• Year: 1997-98
• Set: SkyBox Metal Universe
• Parallel: Precious Metal Gems Red
• Card number: #23
• Serial number: #039/100
• Grading company: Beckett Grading Services (BGS)
• Grade: NM-MT+ 8.5

This is not a rookie card – Jordan’s true rookie cards are from 1984-85 Star and 1986-87 Fleer – but the 1997-98 PMG Red is widely viewed as one of his key “modern-era” grails. It’s a low-serial, condition-sensitive parallel from a now-iconic insert/parallel line, released during Chicago’s second three‑peat run.

Why PMG Reds matter

Precious Metal Gems (PMG) are parallel versions of the base Metal Universe cards. For 1997-98 basketball:

• Total PMG print run: 100 copies per player
• Breakdown: 10 Green / 90 Red
• Reds: Serial-numbered out of 100, but hobby convention and research generally accept 10 Green + 90 Red for the total 100-card run.

The combination of:

• Low serial numbering for the era
• Bright, easily chipped foil surfaces
• Heavy collector interest in 90s inserts
• Michael Jordan’s global popularity

has turned this card into a cornerstone for high-end Jordan collectors and 90s insert specialists.

Grading and condition context

BGS 8.5 (NM-MT+) is a strong grade for this issue. PMGs are notorious for:

• Edge and corner chipping
• Surface scratching
• Easily visible color loss on the colored background

Because of that, high-grade examples are meaningfully scarcer than the already-low print run suggests.

A pop report (population report) is a count from grading companies showing how many copies of a card exist in each grade. While exact population figures can shift over time as more cards are submitted, the general pattern for Jordan PMG Reds is:

• Very few copies in top grades (BGS 9.5 / PSA 10 are extremely rare)
• A small cluster in the BGS 8–9 range
• Many raw or lower-grade examples that never reach premium auction platforms

This BGS 8.5 sits in that upper-middle tier: not the absolute top of the census, but comfortably above average for the issue.

Market context: reading the $651,334 sale

The Goldin sale on 12/07/25 closed at $651,334. Here’s how to think about that number in context, based on publicly-visible market behavior for this card and close comparables:

1. Card and grade peers
   Over the last several years, confirmed public auction results for the 1997-98 PMG Red Jordan in strong grades (PSA 8–9, BGS 8–9.5) have:

   • Reached very high levels during peak 2020–2021 hobby enthusiasm
   • Then cooled off, along with much of the high-end market
   • Recently stabilized into a narrower range, with fewer forced sales and more patient sellers

   Exact comp data for every BGS 8.5 example isn’t always available or up-to-the-minute, but this closing figure of $651k places the card firmly in the upper tier of realized prices for non-Green Jordan PMGs in comparable condition.

2. Relationship to PMG Green
   The Green /10 version is generally treated as the apex of MJ 90s parallels. Some of those have fetched multi-million dollar figures at the very top end of the market. The Red /100 versions trade below the Greens but often track their direction over time. When high-end Greens are healthy, strong Reds tend to follow with proportionally lower, but related, levels of demand.

3. Period vs. player demand
   This sale reflects not just Jordan demand, but also:

   • The ongoing premium on 1990s inserts and parallels
   • A preference for low-serial, visually distinct cards over mass-print base issues
   • The maturing of the 90s collector base, many of whom now have the budget to chase childhood “dream cards”

Instead of being an outlier or a bargain, this $651,334 sale looks like a serious, market-aligned result for a major MJ grail in a strong but not absolute top grade.

Collector significance: why this card matters

Several factors explain why this card continues to command attention:

1. Era and aesthetics
   The late 90s are often called the golden era of basketball inserts. Metal Universe is one of the most visually distinctive sets from that period, with:

   • Sci-fi and industrial-style backgrounds
   • Bright, saturated colors
   • Foil-heavy designs that feel very different from modern chromium cards

2. True scarcity and condition sensitivity
   Unlike modern serial-numbered cards where many examples grade Gem Mint (PSA 10, BGS 9.5+), PMGs are genuinely tough in high grade. Damage from packs, handling, and early collecting habits means many copies now fall into mid-grade or worse.

3. Jordan’s legacy
   The card comes from the 1997-98 season – Jordan’s final championship run with the Bulls. That timing, plus the #23 jersey number and the vivid red PMG design, all resonate with collectors who connect the card to peak-era MJ.

4. Cultural status within the hobby
   PMGs are one of the reference points people use when talking about 90s grails. They appear frequently in hobby media, auction previews, and long-term collector discussions. Owning any PMG Jordan is a statement piece; owning a high-grade Red is a step into the highest end of the 90s market.

What this sale might mean for the market

Without predicting the future or offering financial advice, we can outline what this Goldin result on 12/07/25 suggests about current conditions:

1. Stability at the high end
   A six-figure sale for a non-Green MJ PMG in BGS 8.5 indicates there is still deep demand for true-blue-chip 90s inserts, especially when they:

   • Have proven, long-term demand
   • Are easily recognized and understood across the hobby

2. Grade tier separation
   The ongoing pattern with PMGs is strong differentiation between:

   • Gem-level copies (PSA 10 / BGS 9.5+), which can command a large premium
   • Solid high grades like BGS 8.5–9
   • Mid- to low-grade or raw copies, which appeal to collectors more than investors but still carry significant price tags

   This sale reinforces that BGS 8.5 is a respected, investment-grade tier for a condition-sensitive parallel.

3. Reference point for future comps
   A "comp" (comparable sale) is a recent transaction used as a reference for pricing similar items. For auction houses, high-end breakers, and private sellers, this $651,334 closing price is likely to be referenced when:

   • Valuing other Jordan PMG Reds in similar grades
   • Pricing PMG Reds of other major stars, scaled down from MJ
   • Framing negotiations for private sales

Takeaways for different types of collectors

New or returning collectors
This sale is a reminder that:

• 1990s inserts and parallels can be as important as rookie cards
• Serial numbering, visual appeal, and hobby history all matter
• You don’t need a PMG Jordan to collect 90s inserts; there are related sets (like base Metal Universe, Planet Metal, and other inserts) that echo the same era at lower price points

Active hobbyists and small sellers
If you handle 90s cards at any level:

• Clean, lower-tier inserts from the same era can benefit from the visibility of big PMG sales
• Condition remains critical – even small flaws stand out on foil,
• High-end buyers are willing to pay for strong provenance (major auction house, clear photos, and consistent grading)

High-end collectors
For those already in the PMG or Jordan lane, this BGS 8.5 sale at $651,334:

• Provides another market datapoint for non-peak-grade PMG Reds
• Reinforces the long-term status of 1997-98 PMGs as core Jordan grails
• Highlights that buyers continue to value established, historically important parallels over trend-based modern releases

Final thoughts

The 1997-98 SkyBox Metal Universe Precious Metal Gems Red #23 Michael Jordan (#039/100) BGS 8.5 sale at Goldin on 12/07/25 is more than a single headline number. It’s a snapshot of where the high-end 90s insert market currently sits: mature, selective, and still very willing to support historically important cards.

For collectors, the lesson is simple: understanding set history, print runs, and condition challenges is just as important as tracking prices. PMG Reds – and especially Jordan’s – remain a key reference point for that kind of hobby knowledge.