Posted By:
Hal LewisThe way I see it is that you are correct in theory, but not in your conclusion.
Certainly there MUST be some gem mint cards out there in private collections that have not yet been graded... although logic would dictate that most of the cards that have NOT been sent in for grading and slabbing (protection is key for me) have NOT been sent in because they would NOT grade very high.
Nonetheless, I agree that calling ANY card a "1 of 1" at this stage of the game is too early.
HOWEVER ... I do NOT believe that the emergence of a second or third such card will decrease the value of the first known card.
TONIGHT will give us some indication, because MASTRO has the SECOND known PSA 10 Hank Aaron rookie card up for grabs.
The first one sold for $110,000 (including the juice) when it was billed as a "1 of 1" card.
The second one is currently at about $85,000 with the juice, and will probably go much higher tonight. Let's see how the final price compares with the $110,000.
Would the emergence of a SECOND T206 Honus Wagner in PSA 8 condition DECREASE the value of the first one ... or would there simply now be TWO cards worth $1.5 million each?? I think the latter.
So I guess someone's EGO might take a hit when some of these "hidden" mint cards are eventually submitted for grading ... but not their wallet. 