Am I Wasting Money Buying 7's?

markmac

I am debating whether to complete a 1970 Basketball set in psa 7 or psa 8 condition. I plan to get most of the stars in PSA 8 but I don't really like to fork out lots of money on PSA 8 commons. I have no problem with 7's in the 69,61, or 57 basketball issues because of the difference in price. These are for my personal collection but I do want to have more than worthless slabs at the end of the day. With commons in the 70 set in PSA 7 around $5 each I could complete the set faster and cheaper. The 8's run on average about $10-15. I would buy raw commons but I can't find them in high grade here in North Carolina. Any thoughts?
Mark

Vargha

If you are able to complete the set, then there will definitely be a market for what you have should you ever decide to sell. You will need to be disciplined to not pay high prices for the 7's. In all likelihood you will need to fill some holes with 8's; and you may end up deciding to upgrade some as you go along anyway.

mikeschmidt

A couple thoughts:

A) There are 175 cards in the set.

Not being personally aware of the pricing of this set, I would suggest the following: If you can obtain PSA 8's for $10, do so. If PSA 7's go for $5, then that is not much "extra cost" for the PSA 8. In fact, I would say the PSA 8 is a good deal relative to the PSA 7. If the PSA 8's go for much over $15, though, either be patient and wait out for a cheaper PSA 8, or buy the PSA 7 for $5

C) Can you get any group discounts? For example, with other sports, it is not unusual to see lots every few months like "Twenty PSA 7's from 19XX set", whereby the price of the lot is extremely cheap relative to buying the cards singly.

D) Be aware of how postage costs affect your set price. If postage is $3 per card, I would choose a PSA 8 for $13 over a PSA 7 for $8 anyday, anytime.

E) Consider PSA 7's for any tough population commons. Not sure what they are in this set, but it is something to be aware of.

F) Finally, consider your own collecting preferences. When your set is complete, will you try and upgrade your 7's, or will you be happy with your set as is? If you think you will continually upgrade your set -- I would suggest you should be patient now and wait out for the PSA 8's. If, however, once you are complete you will keep your set as is, without upgrades, there is more of an incentive to go for inexpensive 7's as they are available.

MS

Mefer

I don't really have much to offer beyond the last poster other than noting I think it will depend upon the set you are putting together. I do not know enough about your set to comment. What I can comment on is the set I am working on, a 1971 Topps baseball set in PSA 7 or higher. I have seen, and personally have, many 7s from this set that are quite nice. The 7s do present a fairly good value and many of the commons can be had at about the cost of grading or a bit less. The 8s are oftentimes harder to predict; I still see common 8s go all over the board. With my limited budget, I just can't fathom paying 40 or 50 bucks (granted, some 8 commons can be had for much less) for a common card in an 8 when I could use that same money and pick up 8 to 10 commons in PSA 7 condition which look just about as nice as one eight. All told, when I am done, I think I will have a solid set with good investment potential that I can truly say grades NM or better. With the black borders, I will be quite proud of my modest project!

Lastly, I would also add that you should keep fun in mind. If 7s look good enough to you, and they can be had at a much cheaper price, you may question the need why you even should buy 8s.

Good luck!

Fabfrank

I've said it before and I'll say it again. PSA 7's are the best value in the market. Three compelling reasons:
#1 A PSA 7 card is a NearMint card. Most are priced less than the grading fee and in some cases at the same price as someones NM/MT raw card.

#2 As pops go up on many 8's and their prices come down, 7's seem to hold there value. If a PSA 8 is currently priced at $30 and eventually drops to $15, that card would only cost you $10 ($15 minus the sale of your $5 PSA 7). 7's are like money in the bank when it comes to upgrading.

#3 I believe the majority of 7's are cards that were submitted believing they would be PSA 8's.

Enjoy building your PSA 7 set.

1420sports

PSA 7's are not only a great value, but also are NM Cards by definition. I love PSA 7's, and can get two or three 1967 commmons for the price of an 8. Saving money is saving money, especially when you can get more cards with the savings.

aro13

A lot of great posts on this thread. For my pre 1970 basketball sets I collect PSA 7's and I am very happy to do so.
I think your idea about collecting stars in PSA 8 and the commons in PSA 7 is a smart one. There is a big price discrepency between stars in 7 and 8 for this set. Plus, the rookies of White and Murphy are both reasonably priced in PSA 8 as are the all-star cards of some of the top 50 NBA players of all-time.
I also like the idea of buying 7's and upgrading to 8's as the prices dictate. Good luck on your set!

wolfbear

Sevens ...

Have a dozen or so of them that I've tried to upgrade to eights more than once,
and just can't find a better card regardless of what the slab says.

Every card I've submitted that came back a 7, could have been an 8, or I wouldn't have submitted it in the first place.
Be selective.

True card collectors realize the value of an eye pleasing 7...

PROMETHIUS88

mark, i've been working on the 70 topps set for about...was going to say 6 months, but i think its more like 8. more seriously in the last 3. anyway, i completely agree that the 69's are a great deal in 7's, but the 70's you have to go with the majority of them in 8. prices have been elevated a bit on the common 8's lately but still can pick most up around $13-15. and....there seems to be LOTS of them available lately. i just don't see as many 7's out there and think it might be harder to find the 7's. some of the low pop 8's like rule, cazzie russell, etc may have to be in 7 because of the "stupid" high prices being paid for them right now(no offense to those bidders!! ). either way you choose to go, it will be a great looking set and i wish you the best of luck!! tim

registry name-
70 topps hadley legacy collection

Fuzz

Wasting money on a 7 ?? Not at $5. If you are buying (and somewhat picky) at less than the slabbing fee you shouldn't be too far wrong. Afterall, probably, someone thought it could have been an 8.
I do find the comment in another post "that 7's hold there value" as rather odd. It would seem from the math that a $5 investment in a $6 holder leaves a value of -$1 for the card so I am not sure what value is actually being held here. There is also no doubt that many 8's are currently down in value from where they have traded. But that is both the problem and the opportunity. When the economy picks up and many start spending their income again in cards, those 8's will go back up in value. Those 7's may not.
It is real a simple answer. If you want the card in the holder to keep for your own enjoyment for the long term, clear 7's are the best deal. If you are even remotely looking at this to appreciate, then 8's are the way to go if you can possibly afford it. If you want to compete for the top spot, then wait for 9's. When you answer that, the rest is simple.
Fuzz

purelyPSA

Fuzz: I think this was the point: Buy a 7 for five bucks a pop already graded, and when you find a nice 8 at the right price, you can sell the 7 again for around five bucks. This way, you get the enjoyment of both building a set on a budget, and then get to upgrade it at your leisure with the ability to recoup your investment in the initial 7s.

RayBShotz

I agree with Fabfrank and 1420. 7's are a NearMint card. (Usually submitted thinking it would 8.) If you buy the card cheap... In most cases these are very, very nice.
RayB69Topps

Fabfrank

Buy a 7 for five bucks a pop already graded, and when you find a nice 8 at the right price, you can sell the 7 again for around five bucks. This way, you get the enjoyment of both building a set on a budget, and then get to upgrade it at your leisure with the ability to recoup your investment in the initial 7s.

PurelyPSA- You hit the nail on the head. I wish I could have put it as clearly as you did.

Dhjacks

Comparing the 1969-70 set and the 1970-71 set.

Total cards in set: 1969 has 99 cards.
1970 has 175 cards.

Total cards submitted : 1969 has 6632 submitted
1970 has 10444 submitted.


Total psa 8's: 1969 has 2317 (average of 23.4/card in set)
1970 has 4759 (average of 27.19/card in set)

Total psa 7's: 1969 has 1988 (average of 20.1/card in set)
1970 has 2350 (average of 13.43/card in set)

The 1970 set currently has 40% of the cards with a pop of 3 or less in psa 9. Therefore a psa 9 set is not really viable.

I don't think you should be ashamed of a psa 7 unless (or until) the population increases considerably.

brucemo

Beyond a certain point, you are paying for the holder as much as the card. This is a dangerous thing to do, if you want your stuff to hold its value in the long term.

I would be scared to collect any post-1957 set in PSA-7 condition, but if someone is going to do it, it probably makes more sense to do the smaller basketball sets than the huge baseball sets.

"Dirt cheap" would be a fine motto though.

bruce

Mefer

I would have to respectfully disagree with Bruce's above post. While of course I would not vouch for putting together a 1986 Topps baseball set in PSA 7 condition, there are in my opinion solid post 1957 baseball sets that will present solid value, with investment potential, even in PSA 7 grade. As I noted above, I am working on a PSA 7 or better set for 1971 Topps baseball. Given how tough these cards are to find in 8 or better condition, I feel a 7 is akin to an 8 in other years. Of course, as in anything, you still have to be picky about what you buy. All 7s are not created equal. I have many 7s that look as nice as some 8s.

All told, I again think whether a PSA 7 set should be pursued will depend in large part upon the condition sensitivity of the set, its popularity and other factors. Of course again I would also stress to have fun; if 7s are good enough for you for any set, who am I to say you shouldn't pursue such a set?