[Phil68]

Originally Posted by swarmee

https://www.blowoutforums.com/showthread.php?t=1297767

https://www.blowoutforums.com/showthread.php?t=1304959

https://www.blowoutforums.com/showthread.php?t=1289859

http://www.sportscardradio.com/gary-...-bidding-scam/

Warning: the more you read, the less you'll want to purchase graded vintage cards for investment purposes. So read up!

But basically: PSA, Beckett, and SGC are all incompetent at some parts of their core job of authenticating and grading cards and autographs. A bunch of auctionhouses and trimmers either A) took advantage of that or B) conspired with the grading companies to pump up the value of their cards through fraud. SGC used to have a Grade Guarantee where they confirmed they stood behind the grades they handed out; that went missing from their website quietly a few months ago. PSA still has one, but has told their largest submitters that they have to take back the cards so there's not a run on the PSA bank/grade guarantee and so they can lie about how prevalent fraud is to their shareholders.

I just read a bunch. This is actually REALLY serious. I have always known that PSA was in WAY over their head in terms of applying a consistent grading standard. I also figured, with the turnover and inexperience of graders, doctored cards would, doubtless, be making their way into holders...
It never occurred to me that it would be an actual scam and they would fail to be accountable in such an obvious way.

I met Joe Orlando about 20 years ago. He was a plastic fellow with limited basic intelligence but tried hard to be "one of the guys". He would "ok" bulk submissions I would do with other set-builders and we would talk sports, cards and collecting. It was a fairly transient relationship but he would actually answer my direct calls. I appreciated him.

I have watched him and his company become one of the most arrogant and unlikable group of folks in the world. I really mean that. I have a fair amount of money invested in cards that PSA has encapsulated but, I can honestly say, not once have a bought ANY card BECAUSE it was in a PSA holder. I think the fact that he has sold off a significant amount of his stock may be quite telling.