Question Regarding TPGers Lateness.

[Marslife]

A Message from the PSA President

Hello again PSA Collectors,

I hope this message finds you well. Today’s message is part of PSA’s ongoing efforts to communicate business updates to our incredible collector base.
While it’s no secret that the hobby is booming, the number of submissions to PSA over the past two months cannot be overstated. As shown in the accompanying graphic, if we thought we were busy pre-COVID-19, we are now in a whole new stratosphere. The impact of COVID-19 on the hobby is clear; the pandemic has resulted in more time for collectors to submit collectibles to PSA for authentication and grading.

To manage this ongoing growth, PSA continues to aggressively hire new employees. Already in June, we’ve added 25 more full-time employees to our core Operations staff in addition to a dozen-plus temporary hires (each of whom could eventually be converted to full time). And we are just getting started. If you are interested in joining a healthy, growing company, visit www.PSAcard.com/Careers.

We are working around the clock, with newly implemented weekday swing shifts and additional weekend hours. We are also expanding the physical footprint of our operation to include space previously designated for administrative jobs, increasing the overall footprint of our operation by 50%. All the while we are adhering to CDC guidelines regarding wearing masks and social distancing. We also have hired a registered nurse who conducts temperature checks on employees prior to entering the building.

The majority of the PSA backlog is Ultra-Modern cards (2017 to present) submitted through our Value service. We are receiving so many of these cards on a daily basis that it is affecting our ability to expeditiously receive packages from other submission types. As a result, we have temporarily increased the pricing on Ultra-Modern cards within the Value category to better reflect the current market demand for this service. We will continue to monitor the Ultra-Modern category and provide updates to you as we expand our capacity.

I am happy to share that our capacity expansion efforts are working. I realize that it is difficult to appreciate the progress when certain service levels remain impacted. But as we emerge from our COVID-19 interruption, we are making real headway in our efforts. For example, compared to last quarter, PSA increased its daily Receiving capacity by 95% and its Research capacity by 78%. Each day capacity expands, and these numbers will be outdated by next week. These huge gains are due to our hiring efforts and our focus on Lean manufacturing principles.

We will continue to share updates with you on our progress. We plan on unveiling an exciting development regarding the future of the PSA operation in July. Thank you for your patience and understanding, and please stay tuned for more.
Enjoy collecting,

Steve Sloan
President