PSA will not encapsulate photos that are smaller than approximately 7" x 9" or larger than 8" x 10". This is the reason why you see loose photos with a LOA accompanying it without the encapsulation, is because they are either too large or too small to fit their holders. The reason PSA gives as to why they will not encapsulate a smaller photo is because they claim that customers have complained of smaller photos being damaged (corner and edge damage) during the shipment process due to their ability to move throughout the holder. I'm still dumbfounded as to why they don't either have different sizes of holders or somehow perforate within the holder to keep the smaller photos in place, but there must be an explanation of the reason why they haven't. Hopes this helps!
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