Vintage pennants are difficult to date to a specific season. Many pennants were for sale at the ballparks for several years in a row. Team logo's and artwork could help in dating. Often team will use the same artwork on other souvenirs like programs, and yearbooks making it possible to date to a specific year.
Most pre 1970 full sized (12" x 30") felt pennants sell for below $50.- $100. Photo pennants, and scroll or roster pennants listing team players, Championship, and World Series Pennants are more desired by collectors and will sell for more. Premium mini pennants offered by candy companies in a special offer for example could also sell for more. As with all collectibles condition is important.
Common flaws with pennants are missing ties, pin holes, frying, creases, and crazing on the printing. Sometimes people will trim down a pennant to rid it of the frying or other flaws like a flat tip (point) Caused by being pinned up and ripped off. Any of these flaws will degrade the pennant significantly. See Related Links below for more information on Vintage Baseball Pennants.
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Many of the baseball pennants are valued in price close to $60 each. The amount will vary depending upon the exact pennant and its condition.