PSA Suspends All Grading Submissions
After recently being purchased by Nat Turner this year after a massive injection of new collectors seeking to get their collectibles graded, PSA has just announced through email and on their website that they are suspending all new grading submissions.
Long Wait Times for Grading Submissions
The trading card boom that has been occurring since 2015 is hotter than ever. As a lot of collectors have experienced long wait times and 'value' submissions taking nearly 6 months to a year although collectors had been able to pay a higher premium for quicker turn around services.
Long wait times and continued submissions have created an increasing backlog of collectibles and in their announcement, PSA addresses the immediate plans to build new facilities and hire graders from across the hobby.
"PSA’s growth planning and capacity expansion remains in full effect. We recently added an additional 58,000 square feet to our California operation on top of the 62,500 square feet we added a few months ago, furthering our ability to hire and process orders. A successful Virtual Career Fair on March 16 netted many fresh candidates. Today we stand 783 people strong and are growing daily, compared to 421 employees at Collectors Universe in January 2020.'
They're also expending Collectors Club memberships to compensate present members whose service has been interrupted.
"Collectors Club members will have their memberships automatically extended to match the duration of the Value suspension. This extension will ensure existing members have 12 full months to utilize their annual Collectors Club benefits."
Other Options for Grading Collectibles
Currently, the two other well known major graders Beckett, and SGC are still accepting submissions, though both have recently increased their prices. Another option for collectors is CGC grading. They have recently begun grading cards though many collectors are submitting Magic, Dragon Ball, Pokémon & other non-sport trading & gaming cards.
CSG, a coin & comic book grading company has also begun expanding into the trading card market, with unique green labels it has captured the eye of newer collectors.
The last option for grading your trading cards is arguably the cheapest. GMA Grading has been around for years and offers grading, slabbing & fast turn around times for years however collectors have mixed feelings about the company.
Some swear by it, others claim you pay what you get with complaints on cards being graded a perfect '10' that has obvious defects.
The Trading Card Market is on Fire
With so many new collectors & retail arbitrage prices going through the roof, trading cards have never been as popular. When you want to get your collectibles graded but unsure of where you should submit, it may benefit you to send a few of your cards to each company to see what you like if you're collecting for long term, though as of recently, PSA, Beckett and SCG cards have held more value, though if you're looking to buy, grade & flip cards quickly, CSG,, CGC and GMA could be good options for you.
Article first written on Xclusive collectibles.