PSA vs. SCG -- Discount Valuation

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Posted By: CoreyRS.hanus

Over the past year or so there has been much discussion regarding the issue of slabbed graded altered cards. During those discussions, we've come to learn from experts such as Kevin Saucier that the problem is a real one, that he knows of many examples of slabbed altered cards in graded PSA holders. We've also seen posts describing how alterers will wait until they know PSA's experienced graders are away on hobby business to submit their cards. And who can forget Jim Crandell's candid description of the deal PSA made with him to get him to re-submit his cards? That told us that upon re-submission (at least from its best customers), PSA will not only agree not to look for alterations, but should they inadvertently find one, they will go one step further and return the altered card in its original holder back to the sender. And last night came the latest revelation -- that a T206 PSA 6 Broad Leaf 460 Elberfeld (twice confirmed by PSA as being unaltered) from the upcoming REA auction shows such evidence of trimming that the auction house felt it could not in good conscious offer the card without a disclosure.

So the question I want to raise is whether we have come to a point, or will soon come to a point, where slabbed graded cards in PSA holders from certain issues will sell at a discount relative to their SGC counterparts? Speaking only for myself, I will not buy PSA cards from certain issues without either knowing the provenance or without having an express understanding with the auction house/seller that should SGC refuse to cross it over with a numerical grade, I will receive a full refund. (What the grade SGC gives it is not the issue, only that they are willing to opine that it is not altered). It seems to me that the best way to clean up the hobby in regard to altered slabbed cards is via economic incentive. Should PSA (or any grading company for that matter) learn its cards sell at a discount relative to its competitors', then that revelation will do wonders to get them to implement all necessary measures to both detect alterations as well as remove from circulation its graded slabbed altered cards.