# Professional Sports Authenticator

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. At the outset, the business faced difficulties owing to a limited demand from collectors who sought card grading services. 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.

## Controversies

Recent Controversies
The PWCC and PSA scandal exposed deeply troubling practices in the sports card industry. PSA’s certification is meant to guarantee that a card is authentic and unaltered—a promise designed to protect collectors from deceptive practices and inflated market values. Yet many trimmed cards were regraded by PSA and then sold on PWCC, a resale marketplace where buyers relied on PSA’s assurance that the cards were in their original condition. Many in the community contend that PSA knowingly regraded these altered cards, a practice that starkly contradicts its own policies, undermining the very purpose of its certification and giving collectors a false sense of security that leads them to overpay for their cards.
Despite its central role in this largest card-trimming scandal in modern collecting history, PSA avoided any accountability for its lack of transparency, failure to uphold its core function, and role in enabling widespread fraud. PWCC voluntarily offered refunds to collectors who unknowingly purchased the altered cards, but PSA, the company that legitimized these fraudulent grades and enabled the deception, escaped without consequence.
How PSA Avoids Accountability Despite the FBI launching an investigation into PSA and PWCC, PSA has repeatedly avoided legal or financial consequences. This pattern of evading accountability is not by accident—it is the result of a business structure designed to shield PSA from liability while maximizing profit.
How does PSA continue to avoid consequences?
- A Legal Loophole Shielding Them from Responsibility – PSA is not the seller of the cards, allowing it to shift blame to auction houses and individual collectors, despite the fact that PSA’s authentication is what enables these scams in the first place. - Total Industry Control & Lack of Oversight – The card grading market is completely unregulated, meaning PSA can make up its own rules, enforce nothing, and claim "subjectivity" as a defense when fraudulent grading is exposed. - Profiting from Fraud While Passing the Risk to Collectors – PSA charges higher fees for higher-value cards, meaning it has a financial incentive to assign inflated grades, boosting its own profits while leaving collectors to suffer the consequences.
Recent cases have underscored PSA’s consistent pattern of deception and lack of accountability. In Cardregistry v. Collectors Universe, PSA was accused of authenticating a 1980 Larry Bird-Magic Johnson rookie card which they later claimed to be tampered with after the sale was complete. When the FBI subpoenaed the card, PSA first retrieved the card from the buyer, and removed it from its sealed case which destroyed crucial evidence before the FBI had a chance to review the card. In Jackson v. Collectors Universe, PSA was sued after allegedly damaging (or switching out) a rare Kobe Bryant rookie card during grading; and despite advertising that cards in its custody were insured, PSA later admitted it had no such coverage, leaving the collector without any insurance to reimburse him for an estimated TWO MILLION dollar asset entrusted to PSA. Both cases illustrate how PSA facilitates fraud by legitimizing altered cards while employing strategic measures to shield itself from accountability, with collectors ultimately bearing the financial fallout.
In Cardregistry, Inc. v. Collectors Universe, Inc., Case No. 1:22-cv-05308-KAM-CLP (E.D.N.Y. filed Jan. 25, 2023), PSA is accused of knowingly authenticating a tampered 1980 Larry Bird, Magic Johnson Scoring Leaders card as a PSA 10, despite internal knowledge that it was not authentic. The complaint states:
“Defendant knew a certain sports card was i) a tampered card; ii) was not an authentic PSA-graded card; and iii) a card that had never been graded by PSA, by its own admission to Plaintiff.” (Cardregistry v. Collectors Universe, ¶ 5.)
PSA authenticated the Graded Card, effectively legitimizing the fraudulent PSA 10 designation. The card was then sold, but after allegations of tampering emerged, the FBI subpoenaed it for investigation. Before complying, PSA exercised full control over the evidence, removing the card from its sealed case and ensuring that no forensic analysis could be conducted to determine whether it had been altered and reinserted. The complaint alleges:
“When the FBI subpoenaed the card, Defendant took it out of its card case by breaking the sealed case... Without the card case, there was no evidence, and, thus, it was not possible for the FBI to determine the tampering issue.” (Id., ¶ 7.) PSA later refused to re-grade the card, as any result—whether confirming or contradicting the original PSA 10—would expose their prior misrepresentation. The buyer was refunded by the seller, but the seller—who had relied on PSA’s authentication—never recovered the nearly $1 million value of the card (Id., ¶¶ 72–106).
In Jackson v. Collectors Universe, Inc., Case No. 30-2021-01185998-CU-PO-CJC (Cal. Super. Ct., Orange Cnty., filed Apr. 12, 2023), PSA admitted it does not carry insurance for cards in its possession, despite advertising claims suggesting otherwise. According to the complaint:
"Defendants misrepresented the existence of any insurance carrier as evidenced by Defendants’ discovery responses stating that Defendants do not have any insurance coverage and that Defendants are also not self-insured." (Jackson v. Collectors Universe, Inc., ¶ 25.) This admission follows Collectors Universe’s 2021 acquisition by an investment group led by Steven A. Cohen and others. Cohen, who controlled SAC Capital Advisors, oversaw a hedge fund that paid $1.8 billion in penalties after pleading guilty to insider trading. Though Cohen avoided personal charges, his firm’s fraud remains one of the largest financial scandals in history. The removal of insurance under his leadership suggests a cost-cutting move at collectors’ expense.
PSA grades millions of cards per year, many worth six or seven figures. Without insurance, collectors face significant financial risk if their cards are lost or damaged, despite PSA’s public assurances of security.
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. However, it was then speculated that the card was cut from a sheet with scissors. This caused some people to question the legitimacy of PSA as a 3rd party grading service. 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. 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.

## 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:
* 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.