I had a 33 Goudey HOF with multiple creases in one. I finally decided to convert my Goudey's to PSA holders. The card came back with "Altered Stock". I question what they meant by that and said there were multiple creases so why would anyone alter it and leave those.
This is the response I got back:
"Your card did not qualify for a numeric grade because it appeared to have some signs of
altered card stock. Was the card previously in a screw-down holder? Those types of
holders put a lot of pressure on cards, and give them a pressed appearance, which we
consider to be altered. "