Modern Masters, released in 2013, was a pivotal set for Magic: The Gathering finance. It marked Wizards of the Coast’s first foray into reprinting modern-playable cards in a supplemental set, aiming to increase accessibility and lower prices for the burgeoning Modern format.
The initial reaction was complex. Hype was high, but the limited print run and high MSRP ($6.99 per pack, significantly higher than standard sets) resulted in inflated box prices. Singles initially dropped, as intended, but due to the limited supply, many staples quickly rebounded and surpassed their pre-Modern Masters values. This fueled skepticism about the effectiveness of reprints as a true price-control mechanism.
Key cards like Tarmogoyf, Dark Confidant, and Cryptic Command experienced temporary dips, offering a buying window for savvy investors. However, the relatively small print run meant that these cards remained expensive compared to standard set mythics. Other cards, like the chase uncommon Lightning Bolt, remained highly sought after due to its ubiquitous playability across multiple formats.
Financially, Modern Masters presented a mixed bag. Holding sealed product proved profitable in the long run due to the set’s collectibility and the continued demand for its contents. However, cracking boxes in the hopes of pulling high-value cards was a risky proposition due to the relatively low pull rates of the most desirable rares and mythics.
The lessons learned from Modern Masters were significant. Wizards of the Coast adjusted their approach in subsequent Modern Masters sets (2015 and 2017), increasing print runs and adjusting card selection. These changes helped to stabilize prices more effectively, although some cards from the original Modern Masters retained their high value due to their rarity and iconic status.
From an investment perspective, Modern Masters illustrates the importance of understanding print run size, demand dynamics, and the long-term value of both sealed product and individual cards. It also highlighted the limitations of reprints as a singular solution to high card prices, demonstrating that a combination of increased supply, careful card selection, and ongoing format support is necessary to effectively manage the Modern format’s economic landscape.