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Posted By: Red

Chuck. Some of the obscure "grading companies" are just dealers grading their own cards. Instead of putting the card in a toploader it gets sealed inside a fancy holder with a label. Maybe they accept no submissions and only do this for their cards that they sell. If they offer a buyback guaranty then it’s no different than any other raw card dealer that offers a return privilege on cards they sell you. No idea if that's the case here.

I think it's similar to how professional coin grading started. The dealer sealed his coins inside tamper resistant holders and graded the coins. He guaranteed his customers that he would buy the coins back at the same grade.