I’m looking to send off some cards to PSA using their bulk service of 100 cards.
I have a few cards (5-10)that are worth over and around $400 let alone the declared value of $100 per card that they asked for.
I was wondering your thoughts. Is it ever worth sending valuable cards in bulk just to save a few dollars?
If it gets lost in the mail, then you lose 300+ dollars per card for those cards due to the declared value when submitting to the PSA. Plus it is unethical. I would not do it. This is just my opinion though.
What’s unethical about it? I do it all the time. PSA hasn’t had any issue with it and the risk is completely on me. I wouldn’t do it if I was out of the states, but the postal system/PSA are accurate enough that I don’t sweat sending in cards undervalued.
What’s unethical about fraudulent behaviour?
I think you are confused. They are asking if anyone has ever submitted a card to psa that has an actual value higher than $100, yet the highest declared value they can put is $100. So they are asking if it is worth the risk of taking a couple hundred dollar loss to save a bit on the grading fee.
Think you misread, he means hes undervaluing his cards to get into the bulk submissions instead of waiting or paying a higher price for a service that allows up to $500. Nothing fraudulent about it, hes taking a risk. (IMO USPS is usually VERY good with mail, I don’t worry when I do it)
I’m actually not confused at all.
Fraud is a wrongful deception to result in personal or financial gain.
In this instance, you are in a contract with PSA, and they require the declared value to be accurate. If you are deliberately under declaring the value of cards so you don’t have to pay the associated fee, you are being deceitful.
Declared value is entirely up to the customer so I’m not sure what you mean? However, if you were to overvalue your card PSA would correct it and not pay the exorbitant amount the customer declared.
According to PSA’s website, the only thing that’s effected by the declared value is the service level and insurance. I assume they’re related. For that reason I choose to forgo my own protection in favor of a lower cost. If I’m wrong and the declaimed value system is used for a different reason please inform me.
I’ll ask them, but I’ve heard of multiple people trying to forgo this with trophy cards and ended up having to pay the associated fee with the correct value of the card.
I think you know exactly what I mean.
Deliberately under valuing your cards so you don’t have to pay the higher fee?
Kinda like saying you got paid less to avoid tax?
@ozenigma Very well could be true, I will say I’ve sent all my trophy cards in at the regular submission level or lower (maybe one exception).
I equate this with lying about value of items to avoid paying customs when shipping. You are (knowingly) lying about the value of items to avoid paying a few dollars extra. It is up to you, but it is just shady and slimy to me. (But I am not hating or judging others who do this, or at least trying to).
I mean what everyone does is really their own business.
Looking for info on the PSA website;
Q: How much do I pay, and what is a Declared Value?
A: Once you are prepared to fill out a submission form, you will need to select a Service Level, which is determined by your Declared Value. We understand you will not know the True Value of the item until it has been certified, so we ask that you form a realistic, educated guess based on your own research, keeping in mind that the Declared Value is also used for insurance purposes.
To determine your values, we recommend that you start by referencing PSA’s Photograde Online to obtain a general, visual illustration of each card grade; this may help you gauge the quality of your cards. Based on this rough assessment, we then advise you to reference the SMR, which is a comprehensive price guide for PSA-certified collectibles, to determine the estimated value of your items. You may also refer to other trade publications, auction prices realized and/or even contact a PSA Authorized Dealer for additional assistance.
Once you arrive at a value, please refer to the submission form or Fee Schedule for PSA Services to determine which Service Level your items are eligible for based on your Declared Value; the price listed will be what you will pay per item.
If you are a Collector’s Club member and are submitting at least 50 items that are not eligible for the Bulk Rates or Monthly Specials, please email info@psacard.com to inquire about a bulk discount.
I read that to suggest that the declared value of the card would be including the grade you think it would be. Does anyone else read it like that?
I’ve always only ever submit cards at what it would cost me to replace them.
First of all, that’s a straw man argument.
Second, the only reason for declared value is for insurance purposes in cases of lost or damaged items. So you are only doing a disservice to yourself by declaring a lower value on the card than it is actually worth. There is also a debate to be had about who is to say what the fair value for a certain card is. One person may put the declared value as what they paid for the card, while another person may put what the card is actively selling for.
Here’s the evidence you require, taken directly from the PSA website. If you want to advocate fraud, go right ahead. If you don’t know what you are talking about, or want to make assumptions, of course people like myself are going to call you out on it…
Source:
What is counted as significantly more though? That is what I would like to know…
You are really clutching at straws here.
The above examples used $400+ cards to submit at the sub $100 service level.
Everyone knows that 400% of anything is significant. Personally I wouldn’t allow more than 10-20% of variance in my own values.
Again, if people want to do this, it’s up to them, but it’s really unethical.
If I claim my car is worth $5 on my insurance forms and then let a stranger drive it across the country for 30 business days, it’s not fraud, it’s just stupid.
What you may deem as significant may not be the same as what PSA deems significant. Insurance would not increase by such a magnitude in price from a $500 insured package to a $1000 package that PSA may even care to address.
% isn’t a good metric here, as 10 dollars to 40 dollars is a 400% difference but obviously does not matter.
insurance rates are effected at different brackets of value. 1000$ and 2000$ aren’t that much of a difference in price to insure.
I feel like this practice comes into play with extremely valuable sports cards