PSA and PSA/DNA is back open and accepting smaller orders, albeit on a limited basis.
Closed since March 20 because of a “shelter in place” order from California Governor Gavin Newsom, the company is again grading and authenticating some items, but with only part of its staff in place to tackle the work.
The announcement first came from a press release issued by PSA’s parent company, Collectors Universe.
In a post on the PCGS (coin grading) side of its business, the company stated it was “essential and able to operate as needed” because of “the liquidity we provide to numismatic trading markets worldwide.”
Brett Charville, president of PCGS, told customers the company “developed and implemented an ongoing safety plan that ensures the well-being of both employees and customers alike. It was only then, along with the commitment of our team, that we chose to reopen our doors.”
Part of that plan included “changing the configuration of our grading floors and limiting the number of employees that may be onsite at any time in order to maintain social distancing, and regularly sanitizing the work spaces at our offices.”
In the corporate press release, CU indicated it opened “primarily to assist dealers of investment assets, consisting of coin and other high-value collectibles, and our other customers in selling those assets and enhancing their liquidity. As we have previously stated, we believe that our authentication and grading services add value to these investment assets by enhancing their marketability and, thereby, increasing liquidity to the dealers and collectors that buy and sell them.”
PSA President Steve Sloan stated that his division “is slowly reopening its California operation, bringing back a limited crew of employees, effective immediately.”
In all, Collectors Universe employs about 400 people.
A huge increase in the number of submissions in recent years had resulted in record revenue for PSA, but had already caused a huge backup of orders that has resulted in months-long waits for customers who submit at lower cost levels of service. That backlog still stands at more than one million items.
Sloan told customers that PSA was again accepting trading card submissions at the Economy service and higher, but would not accept bulk orders. Their autograph and memorabilia authentication arm, PSA/DNA, is also once again taking submissions, but only in California as the company’s New Jersey office remains closed.
“We know things are slow for everybody right now, but we will survive this pandemic and hopefully be back to full capacity soon,” he stated. “This is a small step in the right direction towards that goal.”
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