Grading built this market. Grading is now changing again.
This episode traces card grading from the 1990s, when buyers and sellers eyeballed condition and negotiated it live, through the trust-building years of the mid 2010s, into the COVID volume surge that turned grading into the backbone of an asset class. We cover what old label standards mean for the population data you rely on today, and why PSA 10 counts across sports and TCG look nothing like they did in 2020.
From there we get into the squeeze. Bulk and value submission tiers are closing across the major graders. We work through what an $80 per card floor does to submission math, how lock-up time factors into grading ROI, and which cards stop making sense to send at all.
The back half covers what each grade actually represents. PSA 10, BGS 9.5 True Gem, BGS 10 Pristine, Black Label, CGC 10 Pristine, and where TAG sits. Vintage centering versus ultra modern parallels. Then three predictions on where grade premiums move next.
Topics: card grading history, PSA population inflation, bulk submission shutdown, grading cost thresholds, repackers and breakers, institutional capital in collectibles, BGS Black Label, CGC 10 Pristine, TAG accuracy, Pokemon and ultra modern grading, PSA 9 versus PSA 10 ratios.
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