1914 Cracker Jacks Undervalued?

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Posted By: Matt

Does anyone else think that 1914 CJs are undervalued considering they are, on average, about 3X rarer then their 1915 CJ counterparts? Granted, pop-reports are far from perfect, but those imperfections should affect all issues somewhat uniformly. Anecdotally, consider the 1914 CJ Honus Wagner - here are the combined SGC+PSA pop reports of some Wagners:
1914 CJ: 34
1915 CJ: 90
E90-2: 65
E98: 57
E94: 46
(just for fun, T206: 35)

yet, an exceptionally nice PSA 2 1914 Wagner sold last week for under $2000 (I was the underbidder).

Almost all of the other 1914 CJ HOFers have combined pop reports equal to or less then the Wagner (in the 20s or 30s of each card). The pricing/value comparison is not just between the 1914 CJ and other contemporary issues, but even between the 1914 and 1915 CJs, there is little relative premium given to the 1914 issues.