[Bigdaddy]

Ok, so how does this play out? What happens to the cards that PSA/PWCC buys back? Are they 'destroyed' as the (fake) autographed items were in Operations Bullpen? Given to Little Leaguers for practice? Are they removed from the holders and returned to the hobby as raw? or returned in a new holder with an 'A/A' designation - 'Altered/Authentic'?

If they are removed from the hobby (destroyed), then I assume it will have a significant impact on the supply of high grade examples of many cards. And we know what a reduced supply would do for the value of the remaining cards.

If they are returned in new holder with some type of 'altered' designation, it will have the same effect on the supply of remaining 'good' high grade examples, but bring in a new class of cards that we have little/no experience with as for valuation. Cards that look great on first examination, but upon a closer look, have been altered. And I am 100% positive that if that happens, a non-trivial number of those cards will be freed from their 'tomb' and re-enter the hobby as raw cards. Here we go again.

The only way I see out of this is for the PSA/PWCC to somehow 'mark' the cards themselves as 'altered' so that the designation is permanent. Sort of like when Topps bought up a bunch of older cards and impaled them with a foil logo for redistribution. Hey, they've already been altered once, what is one more alteration?

Or does this whole fiasco sour the registry guys who are the underpinning of the exponential price structure of high grade cards and it ends up flattening that curve?

Lots of questions here still to be answered before we will know how this plays out.