Remasters are all the rage in the video game world now. Classic games such as Tomb Raider, Oblivion, and Resident Evil have all seen recent re-releases that have proved runaway successes, often to the surprise of publishers.
A new Metal Gear Solid game will be released in August. It will be a remaster of Metal Gear Solid 3: Snake Eater, initially released in 2004, meaning interest in the series is about to peak once again. Some of the classic games sell for surprisingly high amounts, especially when in sealed boxes.
The Early Games
In the late 1980s, there were hundreds of 2D top-down shooting games. Most of them were just that—shooting games, fun but thoughtless. Japanese developer Hideo Kojima wanted to push things to the next level. His game—Metal Gear—would be about stealth and avoiding confrontation, rather than just “running and gunning.”
In doing so, Metal Gear (1987) rewrote the rulebook on action games. Players begin by taking control of special forces soldier Solid Snake and guiding him through a series of encounters where the best decision is often to sneak around enemies rather than fill them full of lead. The game was rightly criticized for its second half, where things devolved into a more traditional action-heavy shooter, but the precedent had still been set.
The most collectible Metal Gear game remains the first one. This is due to its age—at almost 40 years old, many copies have been opened, boxes discarded, and cartridges and discs scratched or corroded beyond repair.
Prices skyrocket for sealed copies, especially where they have been professionally graded by companies such as WATA. These items are no longer just for kids but represent big money in the collecting world. For example, a WATA 9.8-rated edition for the NES sold for $38,400 in 2022, and the price will have increased since then.
There is a massive contrast between the final prices for sealed copies and those for CIB (Complete in Box). CIB means the box has been opened, and the game cartridge has likely been played. In 2024, a copy of the same game that was well-graded but only CIB sold for just $212.
After the first Metal Gear success, Konami quickly started working on a sequel. For this next game, they dropped the “Metal Gear” title and instead went with the provocative name of Snake’s Revenge.
Snake’s Revenge is not as popular as the first Metal Gear game, with a recent sale of a sealed WATA 9.8 reaching around $5000. Of course, this is still a major return on a game that initially cost under $100 at the time of release.
The third main entry is the game every ‘90s kid remembers and the one that left the series with the more recognizable version of its name—Metal Gear Solid. The advent of the PlayStation in 1995 allowed developers to design full 3D environments that looked incredible at the time.
When Metal Gear Solid was released in 1998, it had a seismic impact. A huge number of copies were printed, but sealed and graded ones still sell well, often for north of $6000.
Later Games
By 1999, the PS1 was starting to seriously lag behind the average home computer in terms of graphics. Sony realized they needed to up the specs with their next console. In 2000, they brought out the PS2. A year later, Metal Gear Solid 2: Sons of Liberty hit shelves.
From this point on, prices for Metal Gear games tend to decline. Most of these games were released in DVD-style slipcases, which are always much less desirable for modern collectors than boxed or PS1 games. Even sealed copies in excellent condition go for less than $500.
This trend repeats for the next five main entries in the franchise. If you own any copies, the best advice is to get them graded if they are still sealed and wait. Prices are certain to rise the longer you leave them.
Models and Posters
Very often, the action figures associated with Metal Gear (especially Solid Snake himself) can be worth more than sealed and graded copies of the games. These high prices are partly due to rarity, while millions of copies of the games are in circulation, figures can be comparatively scarce.
One incredible example is an action figure of Snake from MacFarlane Toys, produced in 2001 for the release of Sons of Liberty. In December 2024, it sold for a whopping $90,000. Though the Snake action figure is exceptional, any other Macfarlane Toys Metal Gear figure in its original packaging will similarly fetch a ton of money relative to its original retail price.
Posters also prove popular in the Metal Gear collecting community. One of the most prized is from the release of Metal Gear Solid (1998). A special metallic case edition of the game was produced, and the marketing department also decided to produce a limited run of posters featuring Snake in a metallic color scheme. When in fine condition, they can fetch around $4000.
Anyone who went into a videogame store in the 1990s will remember large display “standees”— essentially cardboard game advertisements that stood up on their own. They were put in windows, near the tills, or sometimes just right in the middle of the store. When new games came out, most stores simply threw the old standees in the trash, so many did not survive. Any of them sold today in decent condition can fetch thousands. One advertisement for Metal Gear Solid (1998) recently sold for $2500.
Final Thoughts
With the new remaster of Metal Gear Solid 3: Snake Eater dropping in August, interest in the series will sharply rise this summer. Most people will not buy a physical copy of the game; instead, they will choose to download it. If you are interested in building a Metal Gear collection, look out for limited-edition releases, as well as posters and figurines. These will likely prove more collectible in the long run.
Matthew Doherty is a writer, editor, and teacher specializing in all things history-related. His work has been published in the UK Defence Journal, the Small Wars Journal, and The Collector. He holds an MSc from the University of Edinburgh and a BA from the University of Leeds. In his spare time, he also writes science fiction stories.
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