How does PSA's grading buy-back guarantee work?

[Archive]

Posted By: Matt R

[q] I was just wondering because I read on PSA's message board that someone has submitted some slabbed PSA cards for review for their new half point system and one card was "bought back" as being overgraded. I think the submitter was given the cards value in free grades. I don't even think he had the option of keeping the card in it's original slab as PSA had already reslabbed it with a lower grade. I thought it was interesting since cards submitted for review can't be downgraded but they took his and gave him grading voucherss for the difference of the original grade and the new lower grade.[/q]

How can they just crack your card out and put it in a slab with a lower grade without approval from the owner? I was a PSA member for 2 years. I have one outstanding order with them and then I'm finished with them. If I want a card in a PSA slab from now on, I'll buy it already slabbed.