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PASJDOnce again the Talmud will have to be consulted about the question of whether a card subsequently cut from an original sheet is the real McCoy. I seem to recall this issue arose in the context, sorry for the modern reference, of Tiger Woods rookie cards being cut from sheets a few years after they were printed. I don't remember the position of the grading companies exactly, but I think SGC graded them and PSA didn't.