PSA Insurance question

nendee

I have a 1960 Mantle. Could be a 7 or could be an 8. Do I insure it for the SMR of 475 (7) or 1125 (8) - which puts in in a different PSA cost point. Also, a friend of mine states PSA never grades higher than the insurance amount filled in. Is this true? Filling in the insurance amount would seem to bias the PSA review. Thoughts?

Piggs

Do it at $500 and under level and you will be fine.

wallst32

The insurance fee is used to cover the cost of insurance on return shipment. It does not influence the grading. Put the value you'd want in return if the package is lost of damaged.

nendee

So why wouldn't you put the highest possible value for that service level? If the grader sees I insured it's return for 400, then it gives him the impression that the card is probably a 6.5, right?

WinPitcher

No.

The grader does not see anything other than the card.

I would think the grader feels his/her ability to grade is greater than yours.

Seeing you sent the card in for them to grade.

Like mentioned, insurance is for the return back to you.

Insure it for whatever amount you choose. You are the one paying for it.

Just make sure that if you need to file a claim that you can back up it's value with some sort of documentation.


Good luck on the grade!

cards651

This insurance issue is a great question and one reason that I let my membership lapse. I had the exact same question when I was submitting cards and could never understand it. If you submit at a higher estimated value and the card turns out lower, it seems that the insurance should be recalculated and a portion refunded.

nendee

Exactly my point, why not insure based on the grade assigned - the grader certainly has all the details of the submission in front of him - since the value of the card depends on the grade, asking for the amount is making me "grade" my own card - or at least give an opinion on it - which inherently biases the neutrality of the submission. A check box should read " charge apt insurance post grade"

CNote

<< <i>This insurance issue is a great question and one reason that I let my membership lapse. I had the exact same question when I was submitting cards and could never understand it. If you submit at a higher estimated value and the card turns out lower, it seems that the insurance should be recalculated and a portion refunded. >>



Really? What would you say if you didn't insure for enough, your grades came back higher, and your package was lost? Would you complain that PSA didn't insure it for enough?

Piggs

<< <i>This insurance issue is a great question and one reason that I let my membership lapse. I had the exact same question when I was submitting cards and could never understand it. If you submit at a higher estimated value and the card turns out lower, it seems that the insurance should be recalculated and a portion refunded. >>



You need to be a better pre-grader of your cards. Better yet try posting good quality scans of cards you are sending out and let everyone here throw out a number. Some guys are very good at it here.

twiley

<< <i>a friend of mine states PSA never grades higher than the insurance amount filled in. Is this true? >>



Your friend is FOS. I know for a fact that grades are not given based on the amount you insure the card for. How I know?

I sent in this sub back in 2009. I put $5 insurance for each card prior to them giving the cards these grades...

MINT 9 1993 PINNACLE 457 DEREK JETER Card US
GEM MINT 10 1993 PINNACLE 457 DEREK JETER Card US
MINT 9 1993 PINNACLE 457 DEREK JETER Card US
MINT 9 1993 PINNACLE 457 DEREK JETER Card US
MINT 9 1993 SCORE 489 DEREK JETER DRAFT PICK Card US
MINT 9 1993 SELECT 360 DEREK JETER Card US
MINT 9 1993 TOPPS 98 DEREK JETER Card US
MINT 9 1993 TOPPS 98 DEREK JETER Card US
GEM MINT 10 1993 TOPPS 98 DEREK JETER Card US
NEAR MINT 7 1994 SP 15 ALEX RODRIGUEZ FOIL Card US
MINT 9 1997 PINNACLE 139 DEREK JETER Card US
MINT 9 1998 COLLECTOR'S CHOICE 450 DEREK JETER Card US
GEM MINT 10 1998 COLLECTOR'S CHOICE MINI BOBBING HEADS 19 DEREK JETER Card US
MINT 9 1998 LEAF FRACTAL MATRIX 164 DEREK JETER Card US
NEAR MINT-MINT 8 1998 FINEST MYSTERY M12 D.JETER/N.GARCIAPARRA Card US
GEM MINT 10 1998 ULTRA TOP 30 18T3 DEREK JETER Card US
GEM MINT 10 1999 TOPPS PICTURE PERFECT P10 DEREK JETER Card US
GEM MINT 10 1999 TOPPS 85 DEREK JETER Card US
NEAR MINT-MINT 8 1999 TOPPS 85 DEREK JETER Card US
GEM MINT 10 1999 TOPPS 230 DEREK JETER Card US
GEM MINT 10 1999 TOPPS 230 DEREK JETER Card US
MINT 9 2001 TOPPS 100 DEREK JETER Card US
MINT 9 2001 TOPPS 100 DEREK JETER Card US
GEM MINT 10 2007 BOWMAN 90 DEREK JETER ORANGE Card US
MINT 9 2007 BOWMAN 90 DEREK JETER ORANGE Card US
GEM MINT 10 2007 BOWMAN 90 DEREK JETER ORANGE Card US
GEM MINT 10 2007 BOWMAN 90 DEREK JETER ORANGE Card US
GEM MINT 10 2007 BOWMAN CHROME 90 DEREK JETER BLUE REFRACTOR Card US
MINT 9 2007 TOPPS 40 DEREK JETER BUSH/MANTLE Card US
MINT 9 2007 TOPPS 327 B.ABREU/D.JETER Card US
GEM MINT 10 2007 TOPPS CHROME 21 DEREK JETER Card US
GEM MINT 10 2007 TOPPS CHROME 21 DEREK JETER Card US
GEM MINT 10 2007 TOPPS CHROME 21 DEREK JETER Card US
GEM MINT 10 2007 TOPPS CHROME 21 DEREK JETER WHITE REFRACTOR Card US
NEAR MINT-MINT+ 8.5 2007 TOPPS CHROME 21 DEREK JETER WHITE REFRACTOR Card US
GEM MINT 10 2007 TOPPS CHROME 21 DEREK JETER WHITE REFRACTOR Card US
MINT 9 2007 TOPPS CHROME 21 DEREK JETER RED REFRACTOR Card US
GEM MINT 10 2007 TOPPS CHROME 260 DEREK JETER Card US
GEM MINT 10 2007 TOPPS CHROME 260 DEREK JETER Card US
NEAR MINT-MINT 8 2007 TOPPS OPENING DAY 46 DEREK JETER Card US
GEM MINT 10 2007 TOPPS UPDATE & HIGHLIGHTS UH218 DEREK JETER GOLD Card US
NEAR MINT-MINT+ 8.5 2007 TOPPS UPDATE & HIGHLIGHTS UH218 DEREK JETER COPPER Card US
GEM MINT 10 2007 TOPPS WAL-MART WM17 DEREK JETER Card US
MINT 9 2007 TOPPS WAL-MART WM17 DEREK JETER Card US
GEM MINT 10 2007 TOPPS TURKEY RED 95 DEREK JETER AD BACK Card US
MINT 9 2007 TOPPS TURKEY RED CHROME 95 DEREK JETER REFRACTOR Card US
GEM MINT 10 2009 UPPER DECK 466 DEREK JETER GOLD Card US
NEAR MINT-MINT 8 2009 UPPER DECK O-PEE-CHEE OPC16 DEREK JETER Card US
MINT 9 2009 UPPER DECK STARQUEST SQ-6 DEREK JETER EMERALD Card US
GEM MINT 10 2009 UPPER DECK YANKEE STADIUM LEGACY UPDATE 6734 DEREK JETER

I must add that as soon as I saw this sub pop I called PSA and they were very accommodating for me. They allowed me to adjust the insurance for each card.

Edit: Typos

corvette1340

insurance valuation has NOTHING to do with the grades you get. All of the vintage commons I submit are usually assigned like $5-$10 declared value and the ones that come back as 10's and 9's go for hundreds. I've also sent in Seaver rookies, Mantle's, etc....on big subs (100+ cards) under the special with declared values of $99 and been perfectly fine. As was stated before, it is for the insurance when they ship them back to you. Just put a value that you'd feel comfortable getting if something were to happen to your cards on the way back.

grote15

There is absolutely no correlation between the amt you put down as insurance for the card and the grade. The amt that you are putting down should be the fair market value for the card if it were sold in its raw state, NOT what it would sell for if you thought the card was a PSA 7 or a PSA 8, etc..