Quote:
Originally Posted by bobbyw8469
The Marx card debacle was on them and NOT PSA. They were the ones accepting money up front and instead of putting it in escrow, they spent it like it was theirs!!! The money WAS NOT theirs!! It was earmarked to go to PSA.
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Bobby:
With all due respect, even Nat Turner said this was a wake up call for PSA about how to process payments and when to process payments. So it actually was on PSA but going forward a situation such as that would not be on PSA
This is the statement made by PSA after the fact
This is an unfortunate incident and our top priority is protecting the collectors who may have been impacted by the bankruptcy of Marx Cards. We are currently requesting detailed account information from Marx Cards for the impacted orders still at PSA with the expressed goal of returning cards to their rightful owners as soon as possible. We will not be charging customers for the return of their cards, other than shipping. As of yet we have not received payment from Marx Cards to grade the cards in our possession and as a result of this incident, we will be making changes to our group submitter requirements, i
ncluding a new order upfront deposit and more robust policies around late payments. We will also be requiring all group submitters to bring their accounts current in order to continue service with us. We ask for patience while we sort through this expensive and labor intensive process with the end goal being the return of cards to their rightful owners.
If you have submitted cards to Marx Cards that you believe to be at PSA, please email
curielj@collectors.com with “Marx Cards” in the subject line.