How does PSA treat "lips" on corners?

No. The vending cards, such as the one I just bought (the Slowbro red vending pictured in recent purchase thread), have these and it scored a 9. Plus, you shouldn’t be TOO worried:

www.elitefourum.com/t/parkers-firsthand-psa-collection/30834/1

HAHA! But no really, those lips on vending cards can go either way, but they shouldn’t and historically haven’t auto 6’d every single one by default.

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