It's been nearly two years since Modern Masters was printed, and with Modern Masters 2015 coming out in a few short months, it seems like a good time to examine how all those reprints from the first Modern Masters fared in the long term.

Although we may be able to apply the lessons we learn here to this year's iteration of MMA, keep in mind that, as Anthony Capece eloquently explained on Brainstorm Brewery, "Past performance does not indicate future results." Modern Masters 2015 will have different cards, a different print run, a different MSRP, a different going price—the sets may ultimately end up being pretty similar, but so many of the circumstances are different that we can hardly draw solid conclusions based on what happened back in 2013.

Still, this is clearly the closest analogue we have (assuming it doesn't end up being Chronices 2.0, but I think the fears in that area were pretty much put to rest with the first Modern Masters). Although we're not going to be saying this or that is definitely happening, we would be remiss not to consider Modern Masters 2015 in the light of the 2013 iteration.

So today, let's examine several classes of cards from Modern Masters and how they've fared in the last couple years.

The Big Boys

Famously, the prices of the most expensive cards in Modern Masters went up after being reprinted.

This was true not only of Tarmogoyf, but also of Dark Confidant, Vendilion Clique, and Cryptic Command. Besides Command, all of these are mythic rares, which at least partially explains why the price wasn't pushed down: not enough copies were printed! At the same time, Modern Masters drove up demand for the Modern format, which put a higher demand on the supply that we did have.

The questions we need to consider regarding MM15:

1. Will the print run be enough higher to drive prices of top cards down this time, or will increases happen again as they did in 2013?
2. Will cards printed in Modern Masters (i.e. Goyf, Bob, Clique, Cryptic) show up again in MM15?
3. What are the most likely and needed candidates for printing in MM15?
4. What cards are the most safe from reprinting?

While I don't have the answers to these questions, I'm leaning toward the opinion that there is little to no reason to sell off high-dollar cards with the intention of reacquiring them later. Even with a higher print run, I just can't see prices plummeting. (I say that with one caveat, though: Noble Hierarch, if reprinted at rare, can't possibly stay at its current level. I also can't see WOTC printing it at mythic—can you?)

Mid-Value Staples

Mid-value staples like Kiki-Jiki, Mirror Breaker actually did dip in price, dropping slowly for over a year before finally starting an ascent back to their previous levels. Most cards in this category, like Kiki-Jiki itself, haven't quite hit their pre-reprint prices, but are pretty close.

Although I included Cryptic Command in the first category, one could argue it fits more in this one, as the price did drop for a while before gaining on and exceeding its pre-reprint price. I hold that it belongs in the heavy hitters category because it didn't drop very far or for very long, and its gains are unlike most other cards in the set.

So what do you do with your mid-value staples that are at a risk for reprint? I'm talking about cards like Celestial Colonnade, Splinter Twin, and Spellskite.

Based on the first Modern Masters, holding these type of staples may result in some short-term loss in card value, but if you were just planning to play with them anyway, it doesn't look like the price dips will be low enough to make selling and rebuying worth the effort.

Keep in mind, though, that a much larger print run could put more downward pressure on prices, so if you're holding these type of cards purely as investments, you may be best off trading them off for more stable items like Legacy cards. Lock in your profits now, then look for opportunities to buy after the an influx of supply hits the market.

A Casual Card in a Modern Land

A lot of deceptively valuable casual cards got hit pretty hard by Modern Masters.

Based on what's happened since 2013, the biggest risk of loss from Modern Masters 2015 stems from casual-only cards. This makes sense, as these sets don't necessarily increase demand for casual formats, but they certainly add to the supply for them.

So if you're holding something that is purely casual from the blocks confirmed to be included in this set, that's dangerous. Sure, if it's something you acquired cheaply for your Commander deck, don't worry too much about it. But if you've been sitting on a pile of Caged Suns or Darksteel Plates you've been waiting to go just a little higher before outing, you may want to reconsider that strategy.

And seriously, did anyone else realize Darksteel Plate is not a bulk rare? I'm sure Commander players did, but this is news to me.

Competitive Staple Uncommons

If you need to be convinced to sell your Remands now, take a look at these charts:

Lower-value but highly played uncommons like Lightning Helix, Path to Exile, and Electrolyze didn't take hits nearly this bad, but the $10 uncommons of the format plummeted.

If Remand is in MM15, expect a similar thing to happen. Besides Remand, Aven Mindcensor is the other card primed for reprint that I would put in this category.

Casual Commons & Uncommons

One of the most disappointing things about Modern Masters for financiers was that we lost a lot of the cards that were picks from bulk that many people didn't realize would buylist for a dollar or more. A couple examples:

To be honest, I don't really have any idea what in this category is at risk for inclusion in Modern Masters 2015. I wouldn't have picked any of these three cards for the original Modern Masters, so I'm not going to bother speculating for this new one. Let's just say that buylisting some randomly valuable uncommons and commons may work out in your favor come May.

Know What to Expect

You've also got fringe commons of value like Rift Bolt and Lava Spike that dip when reprinted but gain back value over time. Of course, the recent gains on these two cards could be due to the growing popularity of Burn more than a bounceback from the reprinting.

We can't know for sure how Modern Masters 2015 will impact the market, but we can take a look at what happened in 2013 to help us make somewhat informed decisions. Know which of your cards are risky and which are likely safe, then act to maximize your value on these cards in the coming months. It might be tempting to be lazy and just hold everything, but being proactive can you save you a lot of money moving forward. Act accordingly.