Portal TCG · Chase Cards
Mega Rayquaza ex headlines Storm Emeralda — the Japanese set landing 31 July, with the English Delta Reign to follow — so there's no better time to talk about the sky-dragon that's been minting grails for twenty years. From a 2005 Gold Star that most of us will only ever see behind glass, to modern sunsets you can still slab on a budget, Rayquaza's back catalogue is a masterclass in where collector money actually hides.
We're counting them down by raw value — cheapest chase to the outright holy grail. But keep one eye on the raw-vs-graded gap on every card: that spread between a loose copy and a gem-mint 10 is exactly the bit that turns a card into an investment. Let's fly.

10. Rayquaza — M Rayquaza EX, Shiny Full Art
Ancient Origins · #98 · 2015 · Shiny Full Art
Raw
£381GM10
£8,515The shiny "Emerald Break" — a black-scaled serpent across a full-art canvas. Still very much attainable in a slab. At £381 raw it's the softest landing on this list, but the jump to gem-mint is over twenty times that. Full-art borders chip if you look at them wrong, which is exactly why the clean ones command what they do.

9. Rayquaza — Shiny
Call of Legends · #SL10 · 2011 · Shiny
Raw
£445GM10
£7,472The sleeper. Flies under the radar raw, then commands thousands in a top grade. Call of Legends' shiny vault is where a lot of us got our first proper chase card, and Rayquaza is the one everybody actually wanted. Raw copies still surface in old collections at sensible money — under £450 — while gem-mint runs nearly seventeen times that. Worth a rummage through the loft.

8. Rayquaza — Secret Rare
Dragons Exalted · #128 · 2012 · Secret Rare
Raw
£461GM10
£16,762Affordable raw, but a proper grail graded — the gap between the two is exactly where the money hides. This is the widest gap on the whole list: roughly thirty-six times, £461 to £16,762. If you take one lesson from this countdown, take this card. Condition here isn't a detail, it's the entire investment — and it's why buying raw is a gamble, not a bargain.

7. Rayquaza — Reverse Holo
EX Emerald · #9 · 2005 · Reverse Holo
Raw
£517GM10
£13,779The reverse holo is the one to want — scarcer than the standard, and a clean graded copy multiplies many times over. Twenty-seven times over, to be exact: £517 raw becomes £13,779 gem-mint. Reverse foil from this era scratches and dents just by living in a binder, so genuinely mint survivors are thin on the ground. Check the surface under a light before you commit to anything.

6. M Rayquaza EX — SR
JP Emerald Break · #86 · 2015 · Super Rare
Raw
£582GM10
£3,362The Japanese original of Roaring Skies' Mega Rayquaza — same gorgeous art, often a cheaper way in. Under £600 raw gets you the same 5ban Graphics artwork the English chase is built on. And it's no slouch graded either: nearly six times raw in gem-mint, which puts it level with the Gold Star's multiple at a fraction of the entry price.

5. Rayquaza VMAX — Alt Art
Evolving Skies · #218 · 2021 · Alternate Art
Raw
£856GM10
£2,242The modern crown jewel. Same set as Moonbreon, that golden sunset — for many, the most beautiful modern card ever printed. It's also the tightest raw-to-graded gap on this list at under 3x, and that's the tell: modern cards come out of packs clean, so gem-mint isn't the lottery it is with vintage. You're paying for the art and the demand here, not the scarcity of condition.

4. Rayquaza ex — Promo
JP Promo · #145 BW-P · Black & White Era
Raw
£1,121Grade 9
£5,468PSA 10 too rare to priceA genuinely scarce Black & White-era promo. So rare a PSA 10 barely trades — a Grade 9 alone runs into the thousands. There's no reliable gem-mint price on record at all, which tells its own story: the population is too thin for the market to have ever settled. That makes it the hardest card here to value, and the easiest to underestimate.

3. Rayquaza VMAX — SSR
JP Blue Sky Stream · #83 · 2021 · SSR
Raw
£1,668GM10
£4,997The Japanese route to the iconic sunset VMAX — same showstopper artwork, its own collector following. Blue Sky Stream is where the art landed first, and plenty of collectors will argue the Japanese print is the one to own. It's dearer raw than the English alt art at #5 and only triples into gem-mint, so you're buying this one for the print, not the flip.

2. Rayquaza — Holo (1st Edition / Unlimited)
JP Clash of the Blue Sky · #67 · 2004 · Holo
Raw
£4,6601st Ed · reg £2,053GM10
£15,4591st Ed · reg £14,631The Japanese OG from 2004. The 1st Edition runs thousands more than the regular print — so know exactly which one you're buying. Raw, that little stamp is worth £2,607. Graded, it's worth about £828. Read that again: the premium all but evaporates once both are in a slab, which quietly makes the unlimited print the sharper buy if you're grading. Check for the stamp, then check what you're actually paying for it.

1. Rayquaza — Gold Star
EX Deoxys · #107 · 2005 · Gold Star
Raw
£6,219GM10
£35,912The first Shining Rayquaza ever printed and the holy grail of the whole hobby. Most of us will only ever see it behind glass. Even a raw copy runs £6,219 — more than most people's entire collection — and gem-mint clears £35,000, a near six-fold jump. The EX-era Gold Stars were savage to pull, and this is the one that escaped the hobby and made headlines. Every serious Rayquaza collection is quietly built towards it.
Notice who's not on the list? Mega Rayquaza ex itself. It's brand new — the face of Storm Emeralda (Japanese, 31 July), with the English Delta Reign to follow on 6 November — so there's no settled price yet. Give it a set or two and don't be surprised to see it gatecrash a list like this one.
Look back over the ten and a pattern falls out. The vintage cards hide their money in condition — thirty-six times on the Dragons Exalted secret, twenty-seven on the EX Emerald reverse holo — because almost nothing from 2005 survived properly mint. The modern chases barely double. So before you buy, be honest about which game you're playing: you're either paying for the artwork, or you're paying for the grade. Rayquaza will happily sell you both.
And if this lot has you itching to rip something — the set that started the whole conversation is up for preorder now.
Preorder · Japanese
Storm Emeralda — Japanese Booster Box
£149.99
Mega Rayquaza ex's home set. Sealed Japanese import, dispatched fast from the UK. Releases 31 July.
Preorder Storm Emeralda Now →