Wizards of the Coast has released images from Magic the Gathering Modern Masters, a 229-card set of reprinted Modern-legal cards that is designed to be drafted.  WotC has set a conservative print for Modern Masters, which is designed as a limited set and will not be Standard legal.  Because of the limited print run, WotC will not be increasing the quantity of any card in circulation by more than a fraction of what is already out there.  Modern Masters will come packaged in 15-card boosters with a premium card in every pack.  Packed with the greatest hits and most potent cards from six years of releases, Modern Masters will have a significantly higher MSRP of $6.99 per 15 card pack.
The Modern Masters set will be English only, and will be sold only through hobby retailers.  It will come in 24-pack displays rather than the normal 36. Modern Masters is a relatively small set with key reprints from 8th Edition through Alara Reborn pulled from the Modern format.  The set will include the highly sought after "Tarmogoyf" card, which is the most requested card of recent years.  This set is designed to be both high powered and balanced for Limited. WotC is planning a "Modern Masters Gran Prix."
Twenty to thirty of the cards will have new art as well a creature tokens that haven’t been printed before.  Purchasers are guaranteed one premium foil card per pack, which will take the place of a basic land (there are no basic lands in the set).