The Poncho Pikachu promo cards are among the most iconic Japanese Pokémon cards ever released. They were handed out exclusively at Pokémon Center events at the time, which keeps the print run small, and you can see that straight away in the prices: the most expensive card in this overview is worth almost €20,000 in PSA 10, against a few hundred euros for the cheapest. In this overview we line up all the Poncho Pikachu cards, ranked from lowest to highest raw value. All pricing information in this article comes from Collectr and was retrieved in September 2026.

#11 Poncho Pikachu (JP) 037/SM-P

• Date: September 2026
• Raw value: €413.87
• PSA 10 value: €3,144.34
  Source: GetCollectr

#10 Poncho Pikachu (JP) 275/XY-P

• Date: September 2026
• Raw value: €479.23
• PSA 10 value: €5,489.31
  Source: GetCollectr

#9 Poncho Pikachu (JP) 038/SM-P

• Date: September 2026
• Raw value: €540.22
• PSA 10 value: €2,865.47
  Source: GetCollectr

#8 Poncho Pikachu (JP) 203/XY-P

• Date: September 2026
• Raw value: €600.98
• PSA 10 value: €2,391.09
  Source: GetCollectr

#7 Poncho Pikachu (JP) 274/XY-P

• Date: September 2026
• Raw value: €834.33
• PSA 10 value: €7,825.70
  Source: GetCollectr

#6 Poncho Pikachu (JP) 230/XY-P

• Date: September 2026
• Raw value: €3,334.64
• PSA 10 value: €13,941.30
• BGS Black Label: €87,219.13
  Source: GetCollectr

#5 Pretend Gyarados Pikachu (JP) 151/XY-P

• Date: September 2026
• Raw value: €3,672.63
• PSA 10 value: €11,971.38
• BGS Black Label: €104,558.40
  Source: GetCollectr

#4 Pretend Magikarp Pikachu (JP) 150/XY-P

• Date: September 2026
• Raw value: €3,701.37
• PSA 10 value: €11,093.77
  Source: GetCollectr

#3 Poncho Pikachu (JP) 208/XY-P

• Date: September 2026
• Raw value: €3,781.53
• PSA 10 value: €16,057.13
• BGS Black Label: €52,279.20
  Source: GetCollectr

#2 Poncho Pikachu (JP) 231/XY-P

• Date: September 2026
• Raw value: €5,150.43
• PSA 10 value: €15,184.83
• BGS Black Label: €141,768.12
  Source: GetCollectr

#1 Poncho Pikachu (JP) 207/XY-P

• Date: September 2026
• Raw value: €5,196.82
• PSA 10 value: €19,974.46
• BGS Black Label: €91,837.13
  Source: GetCollectr

What is a BGS Black Label, and why is it worth so much more?

A BGS Black Label is the rarest qualification from Beckett Grading Services: a subgrade of 10 on centering, edges, corners, and surface all at once, also known as a "Quad 10". Fewer than 1% of submitted cards achieve that, which is why a Black Label typically sells for 3 to 10 times as much as a regular BGS 10 or PSA 10 of the same card. You can see that difference clearly in the list above: wherever we mention a BGS Black Label, its value sits well above the PSA 10 value.

What do collectors look at with Poncho Pikachu cards?

• Print run and distribution: these cards were often handed out exclusively at Pokémon Center events.
• PSA / CGC population: low pop counts cause disproportionate price rises.
• Artwork theme: the “Poncho” and “Pretend” variants are among the most loved Pokémon art styles ever.
• Market movements: auctions and social hype can make prices rise quickly, but also fall again.

Conclusion

In short, the Poncho Pikachu cards show a huge spread: from just over €400 raw for 037/SM-P to more than €5,150 for the priciest copies, and in PSA 10 that gap widens further to almost €20,000. For the cards with a BGS Black Label, the value on top of that reaches anywhere from €50,000 to over €140,000. If you're looking to buy or grade one of these cards yourself, keep that gap between raw, PSA, and BGS in mind: it largely determines what a copy ends up being worth. Looking for more strong Pikachu cards beyond these promos? Check out our blog on the best Pikachu cards and their value.

Please note: card values can go up as well as down. No guarantee of value increase.