Professional Sports Authenticator
IndustryCollectibles
FoundedJuly 1991
ServicesCard Grading
ParentCollectors Universe
Websitehttps://www.psacard.com/

Professional Sports Authenticator (PSA) is a US based sports card and trading card grading company.

History

PSA was launched in July 1991 by David Hall, owner of the coin grading company Professional Coin Grading Service (PCGS), to serve collectors as a third-party card grader.[1] At the outset, the business faced difficulties owing to a limited demand from collectors who sought card grading services.[2] Initially, many sports card dealers were against the concept of relying on an external organization to evaluate and grade their cards. They declined to utilize card grading services. However, over time, there was a significant change in the market's perspective, leading to a strong demand for graded cards. This shift was primarily prompted by the widespread problem of deception and fraudulent practices observed at trade shows. Buyers seldom felt confident when making purchases, as there was a constant uncertainty about whether they were acquiring genuine cards or counterfeits. As a result of these concerns, the adoption of third-party grading companies became progressively more widespread.

PSA was able to benefit from the dot-com boom, which had eBay prevail as an online auction website. As a result, a larger number of individuals were able to participate in the sports card collecting and trading hobby. Getting a card graded by a third-party entity offered the assurance that an image displayed in an eBay listing represented an authentic card. Moreover, this practice provided a clear understanding of the card's condition, eliminating the need to rely on potentially subpar image quality in the listing. Consequently, these developments significantly boosted the popularity of PSA.[2]

Controversies

Overall, over the course of PSA's history, it has had very few significant controversial issues with their grading service. However there are a few worthy of note.

The first significantly controversial card grade was in fact the first card ever graded by PSA. This was the T206 Honus Wagner card. Originally It achieved a NM-MT 8 grade. This card was originally owned by Sotheby's Sport's Consultant Bill Mastro, and purchased by Wayne Gretzky and Bruce McNall.[3] However, it was then speculated that the card was cut from a sheet with scissors.[3] This caused some people to question the legitimacy of PSA as a 3rd party grading service.[1] In 2005, PSA Grader Bill Hughes, a grader of the T206 Honus Wager card, admitted in an interview with New York Daily News reporter Michael O'Keeffe that he knew the card had been trimmed when he graded the card.[3] He emphasized that regarding that particular card as trimmed would have been regarded as sacrilegious, significantly diminishing its value. This card is currently recognized as the last remaining example in its original card slab and has been showcased at the National Baseball Hall Of Fame and Museum.

The second significant controversy arose in 2019 when online collectors began noticing instances of altered cards. These collectors took the initiative to document these cases, resulting in the identification of at least 316 modified cards. These altered cards collectively held a value exceeding $1.4 million, and the modifications were attributed to nearly a dozen individuals. This practice has been termed "card doctoring." Subsequently, the Federal Bureau of Investigation (FBI) initiated a criminal investigation into this matter, which also involved an examination of PSA's grading procedures. During their investigation, the FBI uncovered evidence indicating that there might be thousands of tampered cards circulating within the market. This tampering occurred as a result of individuals seeking to enhance the grade assigned by PSA, with the intention of maximizing potential profits. This strategy involved speculators purchasing cards of lower quality and then making modifications, such as trimming worn edges or corners. These alterations aimed to secure a higher grade and, consequently, a higher selling price, particularly if the modifications went unnoticed by the grading process.

A person allegedly involved with doctoring cards is Gary Moser, who was reported to the FBI by online collectors who found his cards to be suspicious. In an interview with the Washington Post, Moser stated that he does not alter cards, and that he assesses cards to determine if they are "undergraded" - a term used to explain when a card may have been inaccurately graded by a grading company such as PSA. If Moser saw a card that looked to be undergraded, he would remove the card from the card slab and resubmit it to PSA for grading, hoping for a better grade. Oregon-based auction house PWCC said in a statement that it will no longer sell cards that were submitted to PSA by Gary Moser, and would "make it right" to any of their customers who may have purchased a doctored card from them, which included paying refunds and cooperating with other dealers to offer refunds as well.[4]

Grading scale

PSA's grading scale provides purchasers of graded cards with a clear understanding of what to anticipate when they examine the card, solely based on its assigned grade.

PSA employs a 10-point grading scale, outlined below:[5]

  • 1 - Poor - May exhibit significant defects, possess limited visual appeal, feature extensive creasing that affects all layers of the cardboard, display dirtiness, discoloration, or warping.
  • 1.5 - Fair (FR) - May display pronounced wear on the card's corners, with surfaces showing signs of extensive use, including scuffs, scratches, chips, or stains. Additionally, the card might exhibit one or more creases, along with edges that appear browned or soiled. It's important for the card to be completely intact in order to attain a Fair grade.
  • 2 - Good - The card could feature corners that are slightly rounded, evident surface wear, chipping of the enamel, creases present in various locations, minimal to no original gloss, and it must exhibit a front and back centering of 90/10 or better.
  • 3 - Very Good (VG) - The card might display slight rounding of the corners, evident surface wear, and minor scuffing or scratches. The image might be slightly off-register, and there could be noticeable wear on the edges. Although most of the original gloss may have faded, it might not be completely gone. Borders might show yellowing or discoloration. The card could also exhibit a visible crease, printing flaws, or staining from wax. To achieve this grade, the card's front and back must feature centering of 90/10 or better.
  • 4 - Very Good-Excellent (VG-EX) - The card could possess slightly rounded corners, evident surface wear, and mild scratches or scuffing. There might be a faintly visible crease present, along with a partial loss of the card's original gloss. Achieving this grade requires front centering of 85/15 or better, as well as back centering of 90/10 or better.
  • 5 - Excellent (EX) - The card might exhibit minor rounding of corners, evident printing defects or surface wear, and the gradual loss of the original gloss. The picture alignment might be slightly off-register, and there could be subtle scratches that are only discernible upon close examination. The card's borders might also appear slightly off-white. To achieve this grade, the front of the card must display centering of 85/15 or better, while the back should have centering of 90/10 or better.
  • 6 - Excellent-Mint (EX-MT) - The card could display evident surface wear, noticeable printing defects, or an exceptionally faint scratch that's only apparent upon close scrutiny. The corners might show initial signs of fraying, and the image focus might be slightly misaligned. A minor wax stain might be present on the reverse side, along with a subtle off-white appearance along the borders. There could be a loss of the card's original gloss and slight notching along the edges. To achieve this grade, the front of the card should demonstrate centering of 80/20 or better, while the back must display centering of 90/10 or better.
  • 7 - Near Mint (NM) - The card might exhibit subtle surface wear that's noticeable only upon close examination. Minor fraying could be observed on the corners, and the image might appear slightly out of focus. There might be a minor printing imperfection present as well as light waxing on the back of the card exclusively. The front of the card should retain most of its original gloss. Achieving this grade requires centering between 70/30 to 75/25 or better on the front, and the back must have centering of at least 90/10 or better.
  • 8 - Near Mint-Mint (NM-MT) - The card might feature an exceedingly faint wax stain on the reverse side, along with extremely minor fraying on one or two corners. A slight printing flaw and slightly off-white borders could also be present, with these imperfections only noticeable upon closer scrutiny. Achieving this grade requires centering between 65/35 to 70/30 on the front of the card, while the back should have centering of at least 90/10 or better.
  • 9 - Mint - The card might exhibit only one of the subsequent flaws: a minor printing imperfection, borders that are slightly off-white, or an exceedingly faint wax stain on the back of the card. To attain this grade, the front of the card should display centering of 60/40 or better, while the back must exhibit centering of 90/10 or better.
  • 10 - Gem Mint (GEM-MT) - The card features impeccably sharp corners, retaining its original gloss in full. The card's focus is sharp, and it is devoid of any staining. A slight printing imperfection may be present, but it shouldn't detract from the overall visual appeal of the card. To achieve a Gem Mint grade, the front of the card must have centering between 55/45 to 60/40, while the back should be centered at 75/25 or better.

See also

References

  1. 1 2 "State Of The Hobby – Can We Trust The Card Graders?". All Vintage Cards. 2020-02-01. Retrieved 2022-03-14.
  2. 1 2 Bates, Greg (9 July 2020). "History of card grading". Sports Collectors Digest. Retrieved 2022-03-14.
  3. 1 2 3 Nash, Peter J. (2013-11-14). "Founded On A Fraud? Collectors Universe In Denial Over Mastro's Trimmed T-206 Wagner & Role In Federal Case; PSA Threatens Lawsuit vs. HOS Over Honus (Part 5 of 10)". Archived from the original on 5 Feb 2019. Retrieved 2022-03-14.
  4. ↑ Bogage, Jacob (18 July 2019). "Baseball card collectors suspected rampant fraud in their hobby. Now the FBI is investigating". Washington Post. ISSN 0190-8286. Retrieved 2022-03-15.
  5. ↑ "PSA Grading Standards". Professional Sports Authenticator (PSA). Retrieved 2022-03-14.
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