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Also, Collectors Universe's coin grading company once tried to sue dealers who allegedly intentionally submitted doctored coins claiming the dealers were liable and not CU for the damages. CU's case was tossed out of court. I don't see any difference here.
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"The only thing necessary for the triumph of evil is for good men to do nothing." - Edmund Burke "It's easier to fool people than to convince them that they have been fooled." - Mark Twain Last edited by WhenItWasAHobby; 06-17-2019 at 09:59 AM. |
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"The only thing necessary for the triumph of evil is for good men to do nothing." - Edmund Burke "It's easier to fool people than to convince them that they have been fooled." - Mark Twain |
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Sure PWCC is slimy as hell, and should be put out of business. But it's the highly defective/contradictory/inept/favorable (take your pick of adjectives) PSA Grading that makes every aspect of this scandal possible. The fact that they try to weasel out of their meaningless "guarantee" is just more icing on the rotting cake. |
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People doctoring cards, people knowingly selling doctored cards, and TPGs who are supposed to protect collectors against this somehow slabbing countless doctored cards. It's enough to make you ill.
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My avatar is a sketch by my son who is an art school graduate. Some of his sketches and paintings are at https://www.jamesspaethartwork.com/ He is available to do custom drawings in graphite, charcoal and other media. He also sells some of his works as note cards/greeting cards on Etsy under JamesSpaethArt. |
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Yes, of course there are multiple guilty parties, which have been at work for a lot longer than this scandal has been readily apparent.
The PSA portion is the most damaging long-term, as their seal of approval gives the card an automatic "thumbs-up" to every facet of the secondary market, auction house and eBay. Hundreds (perhaps thousands) of questionable PSA-approved cards will infiltrate all of our favorite auction houses. No doubt, they already have. Moser/PWCC is a major gateway.... and from there, it's anyone's guess where and when they will again surface. |
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PSA will hope this blows over....let’s take a poll what PSA will Do?
I’m saying nothing....after the National This will all be a afterthought..sadly to many Sheeple to the Registry and Uber Wealthy High Profile People with Big 6 figure plus cards in their holders .it’s very sad....I have Zero Confidence PSA ...it’s always the pure hardcore collectors who take it on the ass... Last edited by Johnny630; 06-17-2019 at 04:46 PM. |
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Duly note, I think professional grading, in theory, is a good thing. I think it's good to have an independent authenticator (something they're good at), and can understand the desire for a quick hird opinion on grade in online sales. However, I've loooong thought the fetish for number grades wasn't based (much less priced) in anything rational. The chickens have come home to roose on the latter, and much it lays not at the feet of graders but the collectors. I think this could actually possibly be the death knell for PSA, and, at the least, the scandal will alter how graded cards are prices (and obviously downward not upward). I don't see how collectors will price graded cards the same way they used to. I predict that, for one reason and/or other (legal, financial), PWCC will be gone before long. The funny thing (not necessarily as in ha ha funny) is PWCC was an advisement advisor and building things up as investments, but will have himself tanked the investments. Last edited by drcy; 06-17-2019 at 04:02 PM. |
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Last edited by CMIZ5290; 06-17-2019 at 05:44 PM. |
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1: Don't forget Beckett. In dollar value the cards on which they screwed the pooch may exceed the PSA mistakes.
2: It is unforgivable that PSA and Beckett are not up front assuring the collector base that they will compensate anyone who got ripped off with these altered cards in their holders. After all, the reason we are at this point is that PSA and Beckett suck giant elephant ass at the one thing they are paid to do; no amount of criminality in the creation and processing of these cards can change that fact. Each doctored card was in PSA or Beckett for an evaluation and they f***ed up every single one of them. That isn't the seller's fault it is the grader's fault. I'm so sick of the whole thing...
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Read my blog; it will make all your dreams come true. https://adamstevenwarshaw.substack.com/ Or not... |
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__________________
My avatar is a sketch by my son who is an art school graduate. Some of his sketches and paintings are at https://www.jamesspaethartwork.com/ He is available to do custom drawings in graphite, charcoal and other media. He also sells some of his works as note cards/greeting cards on Etsy under JamesSpaethArt. Last edited by Peter_Spaeth; 06-17-2019 at 10:15 PM. |
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No doubt this will be the case. This has been PSA's modus operandi for decades.
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"The only thing necessary for the triumph of evil is for good men to do nothing." - Edmund Burke "It's easier to fool people than to convince them that they have been fooled." - Mark Twain |
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A subpoena or discovery request would be so much fun.
__________________
My avatar is a sketch by my son who is an art school graduate. Some of his sketches and paintings are at https://www.jamesspaethartwork.com/ He is available to do custom drawings in graphite, charcoal and other media. He also sells some of his works as note cards/greeting cards on Etsy under JamesSpaethArt. Last edited by Peter_Spaeth; 06-18-2019 at 11:39 AM. |
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