PSA asked me not to talk about this! - Video
 

Incredible sad video about a recent PSA submission and a missing card:

https://www.youtube.com/watch?v=JEL7mQLrzfI

Here is your money, but you have to sign a NDA. I know I shouldn't be surprised, but I am.

Anyone ever deal with this while submitting a card?

Yes. And I rather not elaborate on anything.

I saw that video this morning as well and the first thing that popped in my head is nothing has changed since PSA lost a board member's T206 Magie years ago.

I had a problem with a submission, never mentioned a NDA. PSA just sent me a check, no questions no problems.

But it isn't "here's your money"... They wanna hold that money and give you credit for future service. A service that you're less likely to appreciate after having gone through that. You'd be a hostage customer.

They should have just given you money back for the lost card, with an apology. And, they should have sent you a prepaid shipping package for returning whatever it was that you shouldn't have received.

Sounds like he got money AND vouchers. All I got was money. I can assure you, they did NOT only give him vouchers.

I'm sure they will send his orignial card back.

Thanks for posting the video.

Because of social media and chat boards (like Net54), customers have a lot more power and ability affect change, for good and bad; this case, its for good, but that is not always the case.

I think its important that us collectors advise each other of both the good and bad things we encounter in the hobby. So, again, thanks for posting

I'm pretty confident that you can be made whole without having to sign an NDA, but I would assume it will cost you the ability to submit cards to them in the future.

More "hobby bullying".

I could care less (which, for the record means that I DO care).

Suuure they will.... My guess is it went to whoever submitted the card he got by mistake, and they can't fix it because the other guy already sold it.

As someone who has consulted...led...built...teams and divisions that deal with these types of things I know that CU has spent more $ in FTE hours and bad reputation exposure to this than the $700....makse no sense...but in reality until you slab lovers walk with your $...or they get sued for some serious $....they won't change.

Now that your video is done and posted can’t you sign the agreement? The video was previous to the agreement so it doesn’t apply….. correct?

This is not my video and not my card.

This is why I stay away and don't trust grading companies along with the carriers because of this I will keep my cards raw and not take that chance of being damaged or lost by both Its not worth the money.

My number 1 question still is what happened to this man’s card? Will he ever know?

I have two guesses but I rather not get into it.

If I ran my business like this...I'd be OUT of business!!!!

Me too. This situation illustrates the problem with a monopoly. Now that this guy has ratted out PSA, good luck with ever getting them to take an order from him again. PSA blacklists people who raise a ruckus.

Would third Party Insurance Cover the Gentleman for the his declared value on the card since it is not the one he received back ?

Good question!

Part of the fun with 3rd party insurance is you’ve got a deductible. And in this case, the deductible might be higher than the card’s value.

Probably won't go anywhere, but try calling the local police and file a stolen property report. They acknowledged having his card, so they can't deny they had it. Not returning it and/or really telling him what happened to it is not really any different than if they stole it and then denied doing so to him. This BS of requiring someone sign a NDA and giving them vouchers instead of returning their item, or the money they deserve, is to me tantamount to outright theft. The NDA requirement is akin to a form of blackmail as well.

And the NDA requirement keeps all the other people this has happened to before from ever getting together and starting a class action lawsuit against the perpetrator. And we all know that if it were possible, there's at least a few attorneys that would gladly take such a case and go looking for more parties to join such a lawsuit for the eventual payday. :D

As a followup, I called my card insurance customer about what I would be covered in this event:

1. If the grading company damaged my card, I would NOT be covered for any lost value.

2. If the grading company lost my card, their claims department would "investigate". So I may be reimburse for the value.

Awesome. Hopefully you are made whole, one way or the other.

The deductible on my policy is $10,000, so I would probably be out of luck in this case. But it sounds like yours must be lower.

Just a hypothetical scenario for me. But I am glad I checked with the insurance provider.