So I realized that there are quite a few collecting guides for things such as Yugioh and Lego, but nothing for the TCG that started it all: MTG.
**Why am I writing this guide?:**I’ve lived and breathed Magic for 13 years at this point, with no breaks. Whereas with Pokemon cards I collected from 2003-2005 and then from 2019-present. So my knowledge of Magic severely outclasses my knowledge of Pokemon cards. Magic has been such an enduring, constant obsession of mine that I think I know more about Magic than I know about myself lol (as pathetic as that might sound). I’ve also noticed quite a few MTG threads, but none that serve as a concentrated source of information about MTG collecting. If there’s info anyone feels that I should add to this post, feel free to post in the thread 
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What do Magic collectors collect?:
In Pokemon, there are collectors of just about everything. There are hardcore collectors for every generation and nearly every species of Pokemon. Pokemon card collecting is exceptionally diverse. As it happens, this isn’t the case with Magic. Instead, Magic collecting is heavily concentrated in a handful of specific areas:
- ABU
- Alpha was the first print run of Limited Edition (which was the first set, ever).
- Beta was the second print run of Limited Edition and had a print run roughly 3x the size of Alpha. It had the same cards as Alpha except for a handful of fixed errors and the inclusion of several cards that were accidentally omitted from the Alpha print run. The cards are distinguished from Alpha by the sharper corners.
- Unlimited was the second MTG release and had a print run roughly 5x the size of Beta. It had the same cards as Beta. The cards are distinguished from Beta by the white border.
As one might expect, Alpha is the most desirable of the three. It had the smallest print run and was the first Magic print run, ever. Today, Alpha, Beta, and Unlimited are all sought after and highly collectible. They contain the most iconic cards, as well as many of the most powerful.
- ARN/ATQ/LEG
- Arabian Nights was the first MTG expansion.
- Antiquities was the second MTG expansion.
- Legends was the third MTG expansion.
Arabian Nights is the most desirable of the three. Technically, Arabian Nights had the smallest print run of the three. But, in actuality, each Arabian Nights rare and each Legends rare had basically identically print runs (Legends had more cards in the set, so the print run was divided over many cards). Antiquities was a similar-sized set to Arabian Nights, but had a larger print run. So the rares from Antiquities are actually each about 50% more common than Arabian Nights and Legends rares. Overall, ARN/ATQ/LEG contain a variety of highly iconic cards and a decent few highly powerful ones, too.
- ULG/UDS/7ED foils
After ABU and ARN/ATQ/LEG, there’s way less collector interest. Other early sets (i.e., Revised, The Dark, Fallen Empires, etc.) had much larger print runs and are much less collectible. The introduction of foils, however, added a new element of collectability. A foil could be of any card from the set (rarity-weighted, unlike Pokemon reverse holos) and you only pulled one foil every 5-6 packs. So collecting a complete foil set in NM/M condition is extremely difficult despite the print runs of these sets having been much larger than ABU and ARN/ATQ/LEG.
- Urza’s Legacy was the first set to include foils. It happens to have a great many highly playable cards in it.
- Urza’s Destiny was the second set to include foils. It also happens to have a great many highly playable cards in it.
- 7th Edition was the 10th set to include foils. It’s desirable because it was a core (aka reprint) set and so featured many highly iconic cards in foil for the first time. In addition, every card in the set, despite being a reprint, featured new artwork.
- English PTK + POR/P02
- Portal Three Kingdoms was the third beginner set and was themed around ancient Chinese lore. It was mostly marketed to Asian markets, but it was also sold in Oceania. Very little product was allocated to anywhere else in the English-speaking world. So English PTK cards are extremely scarce and highly collectible.
- Portal was the first beginner set. While there were many reprints in the set, every card had brand-new art. The print run was much smaller than that of a normal set. It’s not nearly as scarce or collectible as English PTK, but it still has some collector interest.
- Portal Second Age was the second beginner set. Like with the original Portal, there were some reprints but every card had brand-new art. For whatever reason, P02 appears to have had a substantially lower print run than POR. It’s still not quite on the level of PTK, but it has some collector interest.
Aside from the above four set categories, no other Magic sets are particularly desirable as collectibles. Cards from other sets can still be quite expensive, but typically for playability reasons.
- Another significant category of MTG collecting is misprint + test print collecting. Misprints also exist in Pokemon and so there’s no reason to go into it in depth here. Test prints were cards that were officially printed by WotC but not with the intention to distribute. They were printed to test certain printing processes. Generally, the most desirable test prints are the foil Exodus test prints. Exodus wasn’t printed in foil, but there were a number of test prints of Exodus cards printed in foil – most notably City of Traitors (which is a highly-playable Legacy/Vintage card). Click here to learn more about test prints.The bottom line: Alpha is the king of the MTG world and always will be. It’s the rarest MTG release, the first MTG release, and contains the most iconic and powerful cards. There’s no competition. I’ve seen some compare it 1st Ed. Base Set, but Alpha has a much higher stature in the MTG community than 1st Ed. Base does in the Pokemon community. While 1st Ed. Base Set was first and the most iconic set, it’s not clear that it’s rarer than many later releases (although it’s obviously rarer than the sets that followed it – i.e., Jungle, Fossil, Rocket). 1st Ed. Base is also eclipsed by certain trophy cards. Whereas with Alpha, it’s not only rarer than any subsequent MTG set, it’s dramatically rarer. It’s closer to trophy card rarity than set card rarity. When you combine that with its being the first set, the most iconic set, and its containing the most powerful cards in the history of the game, you’re talking about the undisputed king of the MTG world. It’s superior (in terms of collectability and desirability) to any other Magic release, ever.
Hope this helps people without familiarity of MTG get a sense of what MTG collecting is about. It’s much different than Pokemon collecting. One major difference, for instance, is that most MTG cards are much less condition sensitive in terms of value. In Pokemon, it’s not uncommon for a NM/M raw card to be worth $100 and for a gem mint graded copy of that card to be worth $1000+. In Magic, that would be very atypical. Similar is true of non-NM cards. A playable Magic card that’s worth $100 in raw NM/M condition is going to be worth at least $60-70 in moderately played condition and $40-50 in heavily played condition. Whereas in Pokemon that card may be worth $100 in raw NM/M condition but $10 in heavily played condition. This is because many Magic buyers want to play with the cards they buy. Whereas the vast majority of Pokemon card buyers want to collect the cards they buy. And while condition doesn’t affect playability (unless it’s so damaged as to not be sleeve-playable), it does affect collectability (and significantly so).