Figured I'd bump a T202 thread to post this. OT to the original post, but emblematic of how good low grade T202's can look. I've been watching T202 sales for a few years, and though prices have cooled a bit, don't think that trend can explain these drastic differences.
I just picked up this beauty in a 2 holder on eBay (pics not too sharp)--
T202 Cobb O'Leary PSA.jpg
T202 Cobb O'Leary PSA back.jpg
I have seen this specific card sell several times before, starting as a raw listing in 2013, believe stating condition as "NM". I wouldn't really consider "NM" as being misleading, since aside from a small stain on the back, it's got super sharp corners/edges and is totally creaseless.
It has been interesting to see this card's price decrease as it's perceived potential condition/grade has gone down. That said, all flaws were clearly seen in the first scans when it sold raw for about 5x what I paid, and it's still the very same card now, just resides in a low grade holder.
Neither phenomena (super clean low/mid grade, and higher price for raw "potential" high grade card) is unique to T202, but the ultra clean low grade examples seem very common with T202s. I also thought it an interesting and extreme example of just how much the value of a raw card can be inflated by the potential of getting a high grade (even 2nd raw sale was more than twice current price level), but so undercut once viewed in its holdered grade. This is like model that Battlefield seems to have perfected--- more valuable to hype, hype, hype the possibility of a high numeric grade, than to sell in a modestly graded holder.
Sold raw in May, 2013-
$1676 (sharp scans)
T202 Cobb 76.jpg
T202 Cobb 76 back.jpg
Sold raw shortly after, July, 2013-
$810 (back scan a little more pixelated)
T202 Cobb 0.jpg
T202 Cobb 0 back.jpg
Sold in current PSA2 holder a year after raw sales, Dec, 2014-
$415
T202 Cobb 5 was underbidder.jpg