Question on submitting cards to grading companies
 

Hi,

I'm submitting some cards to SGC to be graded. During the online submission process it asks the value of my cards. If I put that all of them are worth let's say $1.00 each, then my overall cost is a lot less than if I put the actual values. What are the pros/cons of submitting cards that are worth between $200-$1000 each at $1.00 each and paying a lot less money? My guess is if they accidentally damaged the cards I would only get $10 from them back in the mail. Would they have an issue with me undervaluing the items to pay less? Has anyone ever done that and had a bad experience? Please let me know your thoughts.

Thanks,

Do you seriously think you can put a $1 value on a $1000 card to get them to grade it cheaper.LOL

The card value is for 2 things now that I am done laughing and can type again. It is for insurance purposes in case something happens to your cards. If they lose them or somehow ruin them don't you want them to pay for the mistake?

Secondly they charge more for more expensive cards. The more expensive cards also don't take as long to get graded and back to you.

RE:
 

Okay, thanks.

On a serious note. What I do is put the value of what it would cost to replace the card. By that i mean a ungraded card in the same condition. Hope that helps.

RE:
 

Yeah, that sounds like a good idea.

That is the best way of handling declared value: raw replacement value. Some newbie on the PSA board just asked if he should value all his future PSA 10 commons from the 80s at $500 each!?!? ;-) Sure, if you want to pay $35 each to have them graded, go right ahead...
If they spot your cards as way undervalued on intake, they'll put a hold on your order and contact you. If a card does grade a very high grade, way past what you listed as the service level, PSA will contact you after the fact and inform you, and then increase the service level in order to properly insure the package back to you (and cover their piece of the Grade Guarantee). But I've seen group submissions where some were submitted as $50 declared values, became Pop 1 PSA 10s worth probably $1000 each, and PSA did not upgrade the card to a higher level. Now if it's a PSA 10 86 Fleer Jordan rookie or a Hall of Fame rookie card, expect the call.

TLDR: you can be cheap when it comes to declared value, but you can't be nearly that cheap.

RE:
 

That's good to know. I think I'd feel a little nervous sending about $3000 worth of cards at about a $5 valuation. I might just get a $5 bill back in the mail.

I've had SGC call me in the past and make me go up a level because "they" declared the value at a higher level....so I got the phone call that I was going to need to put more on my credit card....

As others have said, the declared value is for insurance purposes, so if they damage or lose your card, that's what you'd get back from them. It is also what they insure the package for all of your submission when they send it back to you.

Having said all of that, I have "undervalued" my cards on my submissions when I send them for grading. You save money, but as in the above, there's a risk. It will depend on how much risk you're comfortable with. As far as the graders are concerned, as long as it's not too much of a difference, they will still accept and grade your cards under that tier within reason. For example, I've sent poor conditioned Babe Ruth strip cards under the $100 and less tier for PSA, and they've graded it with no problems. (I think SGC does not allow top names under their lowest tier, but not certain on this.) If the grader does believe that you've abused this, they will contact you, and let you know nicely that the card needs to be moved to a higher tier. Or if it happens that the resulting grade results in that the card needs to be in a higher tier, they will also contact you. (e.g., a 1986 Fleer Jordan gets a PSA 9 as opposed to PSA 7.)

As seasoned as I am,I have always wondered about that myself Gary. I try to be honest with my dealings with PSA, but,for example, will they REALLY be upset if I slide my EPDG Titus on under the $100 bulk special, or must I really pull it out and send it all by its' lonesome.

Depends on the expected grade of the Titus. Under a VG-EX, I'd probably run it at $99. EX or better, separate order. Is the hoarder still operating? Haven't seen it mentioned in years.