The card is one of the rarest, with only about 50 copies known to exist. It was produced by the American Tobacco Co. without Wagner's permission, and he made the company recall the card because he was afraid it would encourage children to smoke.
Goldin Auctions of West Berlin, N.J., said bidding began Feb. 25 at $500,000, CNN reported Saturday. The final bid was just over $2.1 million.
The card has a special plaque in the Hall of Fame in Cooperstown, N.Y., where it is described as the "Holy Grail" for collectors.