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PSA To Suspend Value, Economy, Regular and Express Grading

psa-logoIn what can only be described as inevitable, PSA just announced that it was suspending all Value, Economy, Regular and Express grading service levels.  In a letter to collectors, PSA President Steve Sloan outlines the massive influx of grading requests and the move to ultimately slow down submissions. 

Sloan reiterates in his letter that PSA continues to get flooded with grading requests and has received more cards in three days than they did during the previous three months.  The letter clearly states that PSA needs to catch up.  And in order to do so, they are halting any Value, Regular and Express grading submissions.

So what does this mean for collectors?  Well, it means that it will basically be impossible to get your cards graded at PSA, unless you want to pony up the $300 for the ‘Super Express’ grading level.  And for most collectors that isn’t an option, unless you are dealing with a card worth in the multiple thousands of dollars.

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PSA & SGC Hike Grading Prices, Provide Updates On Wait Times

psa-logoIn what was only inevitable, both SGC and PSA, two of the hobby’s largest third-party grading companies have hiked prices. 

The deluge of cards submitted to the grading companies has resulted in nearly unfathomable wait times and the grading companies are trying to put a halt to submissions….well, by raising prices.  

The story at PSA is two-fold.  First, if you hadn’t heard, the parent of PSA – Collector’s Universe was acquired by an investor group, which includes collector Nat Turner.  Turner has voiced his desire to improve upon the existing operational infrastructure at PSA and to provide much-needed investment to improve upon the existing processes.  

In a recent letter to customers from PSA President Steve Sloan, PSA provided a new pricing structure, hiking the ‘Regular’ service card submission from $50 to $100, while at the same time raising the declared value to $499 (from $199) on Collector’s Club ‘Value’ submissions.  They also hiked the ‘Value’ rate to a minimum of $20 per card.  

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Collectors Can Now Buy Vintage Sports Cards With Bitcoin

Crypto currency / Blockchain concept with coin on the motherboard.

All Vintage Cards is excited to announce that vintage sports card collectors can now purchase cards via the All Vintage Cards sports card store using bitcoin.  

“This is a big step in the evolution of digital commerce and especially in the advent of what has become a growing market for cryptocurrencies.  Our stance is that bitcoin is here to stay and that we would like to play our part in helping the digital ecosystem evolve into the world of online commerce.  It’s only natural that card collectors have the ability to utilize their cryptocurrencies in purchasing sports cards” -says All Vintage Cards President, Evan Gibson.  

The All Vintage Cards shop carries high quality vintage sports cards, and was recently launched in 2020, following on years of success in helping collector with a plethora of hobby resources, including numerous resource guides relating to spotting counterfeit cards, along with helping to identify good investments in the hobby. 

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Fake PSA 10 Jordan Rookie Leads to Courtroom Battle

fake-10-jordanI’m slightly late on this one, but another collector alerted me to this lawsuit regarding a Fake PSA 10 Michael Jordan rookie card.

Donald Spence, who is a heavyweight in collecting circles (just take a look at his PSA registry here) is the plaintiff in the suit. 

Back in May 2017, Spence purchased a purported PSA 10 graded Michael Jordan Fleer rookie card from Common Cents Coins in an eBay transaction worth $19,999.99.  

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State Of The Hobby – Can We Trust The Card Graders?

trust-gradersI’m sure by now you’ve heard of the scandal that has rocked the sports card hobby. If not, the quick and dirty is that a notorious card doctor and trimmer was buying lower graded cards, trimming them, and then resubmitting to PSA.

All of this was done with the help of PWCC, the big eBay auction house, although to date, the company has denied any wrongdoing

Let’s face it; PSA, SGC and Beckett are just third party authenticators.  There is no guarantee, whether intentional or not, that the graders will get it right.  It’s now on us, to be a ‘fourth party grader’ of sorts to ensure that we are not getting scammed.  

Yet the graders provide a level of ‘certainty’ in what used to be a very uncertain marketplace.  But with the recent events, should we still trust the third party graders?  Is there any sort of indication that PSA or any other graders have knowingly graded altered cards?

In this piece I review the history of the grading companies, what has transpired in recent years, and whether we as collectors should continue to rely on the graders in providing this consistency to our beloved hobby.

I’ve also surveyed All Vintage Cards followers for their own feedback and will present the results at the conclusion of this article.

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