It really depends on the quality you want to do. You can pay $$$ for someone with all the expensive materials to make one close to that the professional companies make. Or if you're like me, I use Gimp to design my template, an inkjet printer set at the highest print quality settings, high gloss photo paper and put together each piece with cardboard backing (like you'd use for a magazine/program/comic book sleeve) in the middle to thicken it up like card stock. I tried spray adhesive for awhile but it comes out better for me personally when I use a very thin layer of Gorilla Glue type stuff. I use a little 1x1 square lever punch to cut the signature frame.
The Cecil Cooper card photo was taken before I glued it together, just showing it as an example of the front/back design for the 1975 Red Sox set I've been working on.
It really just depends on what makes you happy and it's all trial and error. I've been doing these for the last 6 months and still working on improving my photoshop skills and process.
IMG_5705.jpg
IMG_4992.jpg
IMG_5517.jpg
IMG_4830.jpg
IMG_4824.jpg
IMG_4825.jpg
IMG_5644.jpg