It depends on what you want to search. If you are trying make a lantern control deck then just 1 target is good enough but if you have some sort of UW Sram, Senior Edificer deck then trinket mage is probably not good enough.
There's a few things that matter, not just how many you have. Are some of them situational like Tormod's Crypt?
It also depends on if any of them are combo pieces (or can lead to them like Expedition Map)
My Thada Adel, Acquisitor deck has Expedition Map, Sol Ring, and Sensei's Divining Top.
My Rasputin Dreamweaver deck has Sol Ring, Everflowing Chalice, Mox Opal, Seat of the Synod, Ancient Den, and Voyager Staff
My Thraximundar deck has an extensive Salvaging Station package.
It all depends on the deck, but it doesn't take much to make Trinket Mage a worthwhile inclusion.
Even with just sol ring he's already pretty ok, basically a better sisay's ring with a free body. Doubly so if you have a mana crypt, and an arti land is a decent fallback if you're worried about it.
Having a variety of targets is nice, but there's lots of other reasons to use it. Maybe you just really need ramp, in which case it's still better than many ramp pieces out there just because of its interaction with sol ring and mana crypt. Maybe you care about it being a wizard or you need a body to put equipment on. In Phenax's case, just having any body at all can be valuable. Personally in my Phenax deck he was an all-star because he could search for lantern of insight and then tap to mill as part of the lantern lock combo. Even without that, though, I think he'd be fine.
sensei's divining top does get a little extra milage in phenax since you can mill away the cards you don't want.
The biggest thing to me is Sensei's Divining Top. Even when I only had Top, Ring, and Crypt it was still good value as Mage is almost always worth at least drawing a card in case Top is on the field. You activate Top, draw a card, then get it back with Mage. It certainly isn't the best value but it does help ensure Trinket Mage is not a dead card.
It also depends on if any of them are combo pieces (or can lead to them like Expedition Map)
What is your commander? That might help.
That's not enough. I don't think it's that you need a lot of targets, but that you need a variety of targets. Sensei's Divining Top or Pithing Needle or Skullclamp or even Elixir of Immortality... you need some targets worth getting when you are empty handed and have no need for mana. Altar of the Brood (it is Phenax afterall), Amulet of Vigor..
Even something like Executioner's Capsule or Brittle Effigy. spellbombs? Grafdigger's Cage? Relic of Progenitus?
Basilisk Collar.. Codex Shredder?
Lantern of Insight seems like it could be good in Phenax.
I'm starting to think I should throw a Trinket mage into mine.
8.RG Green Devotion Ramp/Combo 9.UR Draw Triggers 10.WUR Group stalling 11.WUR Voltron Spellslinger 12.WB Sacrificial Shenanigans
13.BR Creatureless Panharmonicon 14.BR Pingers and Eldrazi 15.URG Untapped Cascading
16.Reyhan, last of the Abzan's WUBG +1/+1 Counter Craziness 17.WUBRG Dragons aka Why did I make this?
Building: The Gitrog Monster lands, Glissa the Traitor stax, Muldrotha, the Gravetide Planeswalker Combo, Kydele, Chosen of Kruphix + Sidar Kondo of Jamuraa Clues, and Tribal Scarecrow Planeswalkers
My Rasputin Dreamweaver deck has Sol Ring, Everflowing Chalice, Mox Opal, Seat of the Synod, Ancient Den, and Voyager Staff
My Thraximundar deck has an extensive Salvaging Station package.
It all depends on the deck, but it doesn't take much to make Trinket Mage a worthwhile inclusion.
Two Score, Minus Two or: A Stargate Tail
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Having a variety of targets is nice, but there's lots of other reasons to use it. Maybe you just really need ramp, in which case it's still better than many ramp pieces out there just because of its interaction with sol ring and mana crypt. Maybe you care about it being a wizard or you need a body to put equipment on. In Phenax's case, just having any body at all can be valuable. Personally in my Phenax deck he was an all-star because he could search for lantern of insight and then tap to mill as part of the lantern lock combo. Even without that, though, I think he'd be fine.
sensei's divining top does get a little extra milage in phenax since you can mill away the cards you don't want.
EDH Primers
Phelddagrif - Zirilan
EDH
Thrasios+Bruse - Pang - Sasaya - Wydwen - Feather - Rona - Toshiro - Sylvia+Khorvath - Geth - QMarchesa - Firesong - Athreos - Arixmethes - Isperia - Etali - Silas+Sidar - Saskia - Virtus+Gorm - Kynaios - Naban - Aryel - Mizzix - Kazuul - Tymna+Kraum - Sidar+Tymna - Ayli - Gwendlyn - Phelddagrif 4 - Liliana - Kaervek - Phelddagrif 3 - Mairsil - Scarab - Child - Phenax - Shirei - Thada - Depala - Circu - Kytheon - GrenzoHR - Phelddagrif - Reyhan+Kraum - Toshiro - Varolz - Nin - Ojutai - Tasigur - Zedruu - Uril - Edric - Wort - Zurgo - Nahiri - Grenzo - Kozilek - Yisan - Ink-Treader - Yisan - Brago - Sidisi - Toshiro - Alexi - Sygg - Brimaz - Sek'Kuar - Marchesa - Vish Kal - Iroas - Phelddagrif - Ephara - Derevi - Glissa - Wanderer - Saffi - Melek - Xiahou Dun - Lazav - Lin Sivvi - Zirilan - Glissa
PDH - Drake - Graverobber - Izzet GM - Tallowisp - Symbiote Brawl - Feather - Ugin - Jace - Scarab - Angrath - Vraska - Kumena Oathbreaker - Wrenn&6
The biggest thing to me is Sensei's Divining Top. Even when I only had Top, Ring, and Crypt it was still good value as Mage is almost always worth at least drawing a card in case Top is on the field. You activate Top, draw a card, then get it back with Mage. It certainly isn't the best value but it does help ensure Trinket Mage is not a dead card.
Modern: URW Madcap Experiment
Pauper: MonoU Tempo Delver
My EDH Commanders:
Aminatou, The Fateshifter UBW
Azami, Lady of Scrolls U
Mikaeus, the Unhallowed B
Edric, Spymaster of Trest UG
Glissa, the Traitor BG
Arcum Dagsson U
Currently Playing:
Multiplayer EDH Lists (click italics for a link to the thread!)
[Primer] Lord of Tresserhorn - Don't Tell Me What I Can't Do[Primer] Roon of the Hidden Realm - Rhino Blink
5 Color Tribal Guide (Slivers, Atogs, Allies, Spirits)
Also Playing (most decklists can be found on my profile)
MarathGeistKamahlGrenzoBolasThassaGitrog
PiratesZurVial Smasher&ThrasiosYennettJhoira(cEDH)Strix(Pauper)
Legacy: Maverick
Modern:
Melira PodRIP 1/19/15GWHatebears