[MattyC]

While I am no PSA grader, it seems that card would be deemed AUTH for a combination of both reasons stated above; there is pretty severe paper loss or damage on the bottom "wavy" edge that the graders apparently found too much to grant a numerical grade. In addition to that problematic bottom edge, there is some significant front paper loss, some staining, and a bit of creasing-- all of which probably combined in the graders' eyes with that rough bottom edge to warrant AUTH status.

It also appears that AUTH is narrower than the examples I have seen with numerical grades; there is a little extra part of "chain link" in the right background of the photo that is missing in the AUTH. I count four chain links and an extra bit of chain on the numerical grade, but the AUTH card only has four links with no extra bit of chain, indicating a width issue, possible trim, or maybe just a cut-happy owner somewhere along the way. That right side trim would be a big reason for the AUTH on that one, in addition to all the wear. My eyes may deceive me on this, but it appears the top is also narrower than the bottom by a hair, which would make it a non-square cut and thus also rendering it an AUTH per PSA's specs.

The PSA specs for this card allow it to be cut length-wise within a variance, to remove the coupon (beginning under the black box, as in the PSA 2 example, and extending a bit below the feet, as in the PSA AUTH example)-- but the card should not be cut as that AUTH is width-wise. So there being less card in the width department is a problem for that specimen. Though it seems there is enough front paper loss, staining, and a crease to combine with the bottom edge to warrant a grader having given it an AUTH just for excessive damage, the back notwithstanding. Then add it being too narrow, and it's just a lot for that specimen to overcome, in terms of it getting into a numerical holder.

PSA was very friendly and informative when I inquired about this stuff a ways back; if you have a card like this you are thinking of getting, definitely feel free to reach out to them with questions, as they will have the most info on the subject and their process/determinations on the "proper cut" of any card with a tab, perforated edge, coupon, or the like. I do not know if the way they do it is an industry standard that SGC adheres to as well, or if each grading company handles such cards differently.