This is 86-87 Rookie card is more widely considered a rookie card than the 84-85 Star release. This is the card that most collectors drop their nuts over. It's hard to find in mint condition and one of the most popular Jordan cards around.
This card, his 84-85 Star card is what is considered an XRC or Extended Rookie Card. Even though it was released a full 2 years before the 86-87 card it is not his most notable rookie card in collectors eyes. My guess is because of the picture, but I don't know for certain why it is like that for these cards.
Graded cards generally pull more weight with collectors now and a 8 or above graded Jordan is anywhere from $1600-$8000 for a gem mint 10. That is for the Fleer.
The Star rookie card graded runs anywhere from $900-$1200 for an 8-10, and that is deemed on what someone wants to pay for the cards as well. They generally sell quick when put up for sale.
Now onto his baseball card.
Is it a rookie card? Yes. Is it worth $8? Yes. Will it ever be anything more valuable than that? No. Baseball cards throughout the early to mid '90's were mass produced to the point of the market was flooded. Even the short print cards can be found in abundance. It's not hard to find these cards in perfect condition. Even a graded card is only worth $25 in gem mint 10 condition. Even if he was no longer living these cards would not be worth as much. They may go up to $10 in price but finding someone that would actually pay that for them would be hard to do.