The hobby’s largest grading company still isn’t ready to accept new orders but says progress on its massive backlog of submissions is continuing. PSA President Steve Sloan told customers Wednesday that its current suspension of most service levels “continues to be the right thing to do.” In late March, PSA shut down all but its highest levels of service after receiving … [Read more...]
PSA Buys Software Company to Bring AI to Grading Process
When collector Nat Turner and a group of other investors acquired PSA and the other Collectors Universe properties earlier this year in an $853 million, he promised artificial intelligence would soon become part of the grading process. On Wednesday, PSA’s grading operation acquired Genamint, Inc., a Long Island, NY-based software company that does just that. It also made … [Read more...]
Notes: Mantle Back to Topps; PSA “Avalanche” Continues; 1937 World Series Jukebox Brings Big Coin
Look for new Topps Mickey Mantle cards to arrive soon. After a few years with Panini America, the Mantle estate appears to have a new deal with Topps to get the Yankees legend’s likeness back in its products. Are you ready for this? Topps proudly welcomes Mickey Mantle back to the lineup!!! 👀 pic.twitter.com/mxSLrML2j5 — Topps (@Topps) March 23, … [Read more...]
More People, More Tech, More Space: Nat Turner Outlines Plans for PSA
Spending time at his parents’ house in North Carolina last year as COVID-19 put the clamps on normalcy, Nat Turner was pondering his next move. The co-founder and CEO of Flatiron Health kept coming back to the hobby that occupied his newly expanded down time. “I was kind of thinking about what’s next and thought ‘how cool would it be to do something with cards?’” A few … [Read more...]
PSA Raises Prices; Suspends Crossover Service
Under an ongoing crush of submissions and watching secondary market prices for its cards explode, PSA has raised its prices for trading card grading and authentication. The rumored move had been the subject of online discussions late last week and some customers rushed to input submissions over the weekend. The changes weren't trivial. Many of the new pricing … [Read more...]
Proposed Sale of PSA Parent Company Moves Ahead as Shareholders Accept $92 Offer
It appears the parent company of grading and authentication giant PSA will soon be privately owned. A majority of shareholders of Collectors Universe have agreed to tender their shares for $92 each, marking the acceptance of an $853 million bid by an investor group that includes entrepreneur/collector Nat Turner, New York Mets owner Steve Cohen and Charlotte Hornets minority … [Read more...]
Cardboard Gold’s President Provides Update on Card Saver Demand
Pandemics can cause some unusual supply shortages: toilet paper, hand sanitizer, and apparently…Card Savers. While not an essential item for living, they're among the collector necessities for grading and authentication, another industry that saw a drastic increase in sales volume during Covid-19. Prior to the shortage, card submissions were typically sleeved in “Card Saver … [Read more...]
PSA Tallies Hiring Numbers; Adds Recruiter
PSA says it has now hired 86 full-time employees since April. The company has been ramping up efforts to deal with a still-growing backlog of customer submissions and a continuing influx of new business. In an email to customers Wednesday, company president Steve Sloan stated that the new hires were made in receiving, order entry, research, grading and sealing. “Our … [Read more...]
Notes: PSA Drives Record CU Revenue; 1966 Topps High Number Cello Packs; Rare Card Surfaces; Talking Ali
Collectors Universe, parent company of PSA, reported another quarter of record revenue on Monday. The publicly traded grading and authentication company released figures from the first quarter of fiscal 2021, which included a 52% hike in revenues to a record $30.8 million. Total revenues increased $10.6 million, or 52% year-over-year, to $30.8 million in the first quarter of … [Read more...]
PSA Parent Leasing More Space for Expansion Project
Collectors Universe, parent company of PSA, will be expanding its existing headquarters and operations facility by an additional 62,870 square feet as the company pushes forward with plans to add automation to its grading and authentication procedures. CU has entered into an agreement with its landlord to occupy more space adjacent to its current facility at Pacific Center … [Read more...]