Legends Sports Memorabilia was a hobby magazine, and in 1990 it ran a basketball insert — not as separate packaged cards, but as an uncut sheet bound inside the magazine that readers had to cut out by hand. That is why PSA labels this one ‘Insert — Hand Cut,’ and it is the whole story of the card’s scarcity. The image is one of the great early-Jordan action shots: #23 in the red Bulls road jersey rising to dunk over a helpless Laker, the rim and backboard frozen at the left, all wrapped in the set’s gold border with the red script ‘Legends’ logo across the bottom.

The back is the classic Legends layout — a red name banner over a yellow field, noting that in fewer than seven NBA seasons Jordan had already become the Bulls’ all-time scoring leader and the league’s career scoring-average leader at 32.8 per game. Because every copy was scissored out of a magazine page by a different collector, centering and clean edges are all over the map, and a true gem is hard to come by: of 300 graded across all grades, only 11 have reached PSA 10 — a 3.67 percent gem rate, low even by vintage-insert standards.