The issue of perforated cards was first addressed in the late 1990s with the Tiger Woods SI for kids card. It was a big dollar card and PSA had the rule that the card had to be torn by hand. If someone took a sharp instrument and precisely cut out the card from the sheet it would be given an A because it was trimmed. It can’t show any evidence that something was used to cut it.
I believe strip cards and Post/Jello etc cards can be graded because they were supposed to be cut. They did not have perforations that could be torn by hand. As long as you cut them well.
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