Looking at PSA's pop report, there seems to be some confusion as to how to differentiate the Paige issues as well as how to date them. Considering I sent all of my research to Amanda Fryer, who was head of research at PSA at the time, this is both disappointing and unsurprising.
I did all my work a few years ago before prices went bonkers. I looked specifically for full sets with original envelopes and managed to pick up a few handfuls. The good news is that once you know what to look for it's pretty easy to tell what year the cards are from. Each set has a design specification that separates it from the others. Each set also has at least the 25 man roster in it so with the yearly turnover of players it's not hard to pin down when each set was released.
Out of the three cab-sized issues, only one is from 1948. PSA labels multiple issues from 1948 but, as you'll see, the other two are 1949 or 1949-50.
1948 Thin Pen Portraits
The set is comprised of portrait shots with facsimile signatures in a thin pen style. Hall of Famers include Lou Boudreau, Larry Doby, Bob Feller, Joe Gordon, Bob Lemon, Satchel Paige, Hank Greenberg, and Bill McKechnie. After Greenberg retired in 1947, Veeck hired him as the Indians' farm director. Despite what PSA says, only the uniform version is from 1948.
Checklist & Transactions Dating This Issue:
NAME TRANSACTION
Bearden, Gene
Berardino, Johnny
Black, Don
Boudreau, Lou
Christopher, Russ
Clark, Allie
Doby, Larry
Edwards, Hank
Feller, Bob
Gordon, Joe
Greenberg, Hank - Uniform
Gromek, Steve
Harder, Mel
Hegan, Jim
Judnich, Walter
Keltner, Ken
Kennedy, Bob Acquired via trade June 2, 1948
Klieman, Ed
Lemon, Bob
McKechnie, Bill
Mitchell, Dale
Muncrief, Bob Sold to Pittsburgh November 20, 1948
Paige, Satchel Signed as free agent July 7, 1948
Peck, Hal
Robinson, Eddie
Ruel, Muddy
Tipton, Joe Traded on November 24, 1948
Tucker, Thurman
Veeck, Bill
Zoldak, Sam Acquired via trade June 15, 1948
1949 Wide Pen Portraits
Upon quick glance, these appear the same as the '48 issue. But you can tell the difference by the facsimile autograph, which is a much wider pen version on the '49s, and some cropping differences. Hall of Famers include Lou Boudreau, Larry Doby, Bob Feller, Joe Gordon, Bob Lemon, Early Wynn, and Satchel Paige.
Checklist & Transactions Dating This Issue:
NAME TRANSACTION
Avila, Roberto
Bearden, Gene
Benton, Al Purchased on April 20, 1949
Berardino, Johnny
Boudreau, Lou
Clark, Allie
Doby, Larry
Feller, Bob
Garcia, Mike
Gordon, Joe
Gromek, Steve
Hegan, Jim
Keltner, Ken Released on April 18, 1950
Kennedy, Bob
Lemon, Bob
Mitchell, Dale
Paige, Satchel
Papish, Frank Sold to Pittsburgh on December 14, 1949
Peck, Hal
Tresh, Mike Released on April 3, 1950
Tucker, Thurman
Veeck, Bill
Vernon, Mickey
Wynn, Early
Zoldak, Sam
1949-1950 Thin Pen Action Shots
These are obviously the easiest to differentiate among the three. The set consists of almost entirely "in action" photos. The few exceptions have to do with Veeck's sale of the franchise to Ellis Ryan. Veeck was one hell of a showman and had a card of himself in all three of these sets.
When Ryan purchased the franchise he wasted no time in getting a card of himself inserted into this set, which was still in rotation. When doing this, the set received an "update" which resulted in a handful of short prints, all listed below. The Ryan should be considered a short print, as well.
Ryan also promoted Hank Greenberg to general manager which resulted in Greenberg getting his second Indians Team Issue, this one of him in a civilian suit. My best guess is that the set ran straight through 1950's Spring Training as they tried to milk every last drop out of all the remaining stars from their '48 World Series winning team.
Checklist & Transactions Dating This Issue:
NAME TRANSACTION
Avila, Roberto
Bearden, Gene
Benton, Al Purchased on April 20, 1949
Berardino, Johnny
Boone, Ray
Boudreau, Lou
Clark, Allie
Cleveland Stadium
Coaches
Doby, Larry
Easter, Luke SP MLB Debut August 11, 1949
Feller, Bob
Flores, Jesse
Garcia, Mike
Gordon, Joe
Greenberg, Hank - Suit
Gromek, Steve
Hegan, Jim
Keltner, Ken Released April 18, 1950
Kennedy, Bob
Lemon, Bob
Mitchell, Dale
Murray, Ray SP
Paige, Satchel
Papish, Frank
Peck, Hal
Pieretti, Marino "Chick" SP Claimed off waivers April 16, 1950
Rosen, Al
Rozek, Dick SP
Ryan, Ellis SP Purchases franchise from Bill Veeck Nov 21, 1949
Tresh, Mike
Tucker, Thurman
Veeck, Bill Sells franchise to Ellis Ryan November 21, 1949
Vernon, Mickey
Wynn, Early
Zoldak, Sam
There's a 4-on-1 set that mirrors the '48 images that gets purported to be original and authentic from the time period but it's a modern production and pretty easy to tell in-hand. The paper and printing technique are all very modern and the cards are poorly cut from a paper cutter. They always come with the "original envelope" which conveniently has the same printing defects as every other envelope. Do not waste your time on this set, you can make it at home with a $100 printer.
If anyone has interest in seeing any of the cards just let me know. I hope this helps because I think PSA's mislabeling has already left the barn.
Arthur