With the information given it seems most of the thinking has taken place. just a few more thoughts to get the juices flowing again
1.) Inside job. If so Is this the first time this as happened in 20+ years?
2.) Pallets sound AWFULLY heavy so maybe another truck got to the loading dock before the actual transport company and it took 60-90 minutes for the loading dock employees to figure out what happened? Or did it take 60-90 minutes to unload the Pallets order by order? so basically it seems if the original truck was loaded then it would have too be unloaded which you would think that would be suspicious.
3.) And finally to have faith in humanity - the shipper or transporter made an error in the trucks and or pallets to be loaded. Humans are allowed to make errors right?.... I like to be a weatherman where if I get the forecast wrong I still have a job
Not first time you have asked, as has been gone over with you so very many times, I cannot do so without the subjects - your materfamilias imprimatur, as well as your paterfamilias who orchestrated the cinematography
It's the singer not the song - Peter Townshend (1972) Not even a minute do I buy the whole buh buh buh I'm a man-child japery - Me (2025)
Not first time you have asked, as has been gone over with you so very many times, I cannot do so without the subjects - your materfamilias imprimatur, as well as your paterfamilias who orchestrated the cinematography
Ok make it personal, can’t handle the humor huh?? Grumpy gramps haha, my Mom passed away many moons past so let’s get back on topic.
Crime is bad.
A gembryo is the early developmental stage of a perfect card.
I'm no police, detective or investigator but I assume there are cameras all over the place down in the OC. Wouldn't they be able to track a truck that can haul pallets of cards pretty easily?
@BBBrkrr said:
I'm no police, detective or investigator but I assume there are cameras all over the place down in the OC. Wouldn't they be able to track a truck that can haul pallets of cards pretty easily?
Haha Right! This seems like it was planned by the infamous George Clooney's Ocean 11,12 or 13 crew. This will be the great Pokémon Heist
Make note that PSA had not uttered a single word about offering USPS registered. Perhaps after the next incident or the one after that, or the one after that...? Just how much Fedex Stock does Cohen's group own anyhow?
IMHO if you do not already have, get private insurance and a P.O. Box if you use PSA or CGC
It's the singer not the song - Peter Townshend (1972) Not even a minute do I buy the whole buh buh buh I'm a man-child japery - Me (2025)
Hopefully in reality PSA shipping carrier decision makers realize that they have absolutely zero effect on the price of FEDex stock (but HEY if it "Feels Good" to say or believe it would then by all means believe so )
This explains CGC only using Fedex (2Q Data) - their overseers have 6 Billion reasons:
Cohen / Point72 owns 375,868 Shares (2Q Data) - 118MM is pocket change for him, not much above what Soto makes per year, using Fedex may solely reside in the lets fist our customers territory.
It's the singer not the song - Peter Townshend (1972) Not even a minute do I buy the whole buh buh buh I'm a man-child japery - Me (2025)
What is the CGC / Blackrock Fedex Data? Is that the amount of shipping business CGC does with Fedex?...
Also seems like the amount of business PSA would give to FedEx annually is pocket change as well and therefore would have little effect on FedEx's stock price.
Shipping carrier options for PSA's customers would seem to be very important.
While this sucks for those whose cards have been stolen, one robbery in 20 years is hardly a big scandal. As long as PSA makes good on their guarantee and pays out current replacement value this really isn’t that big a deal.
For some context, PSA grades 100k cards a day, they will hit 1M in value before lunch tomorrow.
@80sOPC said:
While this sucks for those whose cards have been stolen, one robbery in 20 years is hardly a big scandal. As long as PSA makes good on their guarantee and pays out current replacement value this really isn’t that big a deal.
For some context, PSA grades 100k cards a day, they will hit 1M in value before lunch tomorrow.
PSA will not pay out fair market value because they don’t know how to do so and never have. They will calculate based on their own financial presumption which will absolutely never be what could be expected by those who lost rare cards. There’s no way to accurately determine auction prices until they happen.
A gembryo is the early developmental stage of a perfect card.
and apparently PSA won't even refund the actual grading and shipping fees.
This means the submitter is out the cards, out their full values and the fees they paid for PSA and the fees they paid PSA to hand them off to what many believe to be the least trusted shipping entity in the USA.
If this is truly the situation then the words that come to mind are disgusting and despicable
@jfkheat said:
I just saw a video on Facebook talking about a guy that had about 170 cards on the truck that was robbed. The video showed email messages between him and PSA about the insurance value. PSA told him the value of his cards including grading fees and shipping was around $4200. He responded that he paid almost $5000 to PSA for grading and shipping. A lot of people are going to be screwed over this.
Anyone who has had a card damaged by PSA knows that you never get FMV. We all play the declared value game to save on grading fees and this is where it comes to bite you.
Ok so If I own McDonalds Stock then I prolly should eat there a whole hell of a lot to effect the stock price. Yeah not sure how Blackrock uses Fedex or CGC?
@80sOPC said:
While this sucks for those whose cards have been stolen, one robbery in 20 years is hardly a big scandal. As long as PSA makes good on their guarantee and pays out current replacement value this really isn’t that big a deal.
For some context, PSA grades 100k cards a day, they will hit 1M in value before lunch tomorrow.
Technically, their first option should be to replace the cards with cards of the same grade. Then they might realize that their replacement value offer is actually well below actual value.
@HOMETOWNSPORTS said:
Ok so If I own McDonalds Stock then I prolly should eat there a whole hell of a lot to effect the stock price. Yeah not sure how Blackrock uses Fedex or CGC?
Blackrock owns The Certified Collectibles Group and a rather large stake $6 Billion totaling 8% of Fedex. Corporations almost always utilize entities that they partly own or are heavily invested in.
It's the singer not the song - Peter Townshend (1972) Not even a minute do I buy the whole buh buh buh I'm a man-child japery - Me (2025)
Of course they can’t predict future auctions, that kind of goes without saying.
They do however own a card pricing app and most of these cards will have a recent comp. And their guarantee even references their card app so I guess wait and see on how they payout here.
@80sOPC said:
While this sucks for those whose cards have been stolen, one robbery in 20 years is hardly a big scandal. As long as PSA makes good on their guarantee and pays out current replacement value this really isn’t that big a deal.
For some context, PSA grades 100k cards a day, they will hit 1M in value before lunch tomorrow.
PSA will not pay out fair market value because they don’t know how to do so and never have. They will calculate based on their own financial presumption which will absolutely never be what could be expected by those who lost rare cards. There’s no way to accurately determine auction prices until they happen.
Appears PSA low ball offers in this matter are starting to go Viral.
Seems that those who contact them about the low ball offers that are less than the grading charge these victims already paid are being told "oh that was a mistake".
As was mentioned earlier in this thread :
@bgr said: If my cards were on there I would be talking to an attorney
It's the singer not the song - Peter Townshend (1972) Not even a minute do I buy the whole buh buh buh I'm a man-child japery - Me (2025)
@HOMETOWNSPORTS said:
Ok so If I own McDonalds Stock then I prolly should eat there a whole hell of a lot to effect the stock price. Yeah not sure how Blackrock uses Fedex or CGC?
Blackrock owns The Certified Collectibles Group and a rather large stake $6 Billion totaling 8% of Fedex. Corporations almost always utilize entities that they partly own or are heavily invested in.
Ok thank you for clarifying this. Yes corporations as you indicated most of the time tend to NATURALLY align their business practices and decisions for mutual gain.
The part where you say this isn’t a big deal is all I need to see. It is a big deal. PSA is vulnerable and a number of people will need to suffer their losses. I’d suggest you consider not only the monetary aspect, but what of the folks who really wanted an authentic holdered card to keep and enjoy? Tell them it isn’t a big deal.
A gembryo is the early developmental stage of a perfect card.
@ndleo said:
Anyone who has had a card damaged by PSA knows that you never get FMV. We all play the declared value game to save on grading fees and this is where it comes to bite you.
How does that explain not being offered enough to cover the grading and shipping?
It's the singer not the song - Peter Townshend (1972) Not even a minute do I buy the whole buh buh buh I'm a man-child japery - Me (2025)
I must be missing something here. if the cards were on the fedex truck, why is it that PSA is responsible for any payouts? wouldnt that be FedEx's responsibility? or is PSA/Collectors self insuring?
@craig44 said:
I must be missing something here. if the cards were on the fedex truck, why is it that PSA is responsible for any payouts? wouldnt that be FedEx's responsibility? or is PSA/Collectors self insuring?
there is part of this puzzle i am not seeing
It could go either way depending on where the theft occurred and the agreement they have with FedEX is.
Can we prove someone did something wrong and if not where can we place the liability.
@craig44 said:
I must be missing something here. if the cards were on the fedex truck, why is it that PSA is responsible for any payouts? wouldnt that be FedEx's responsibility? or is PSA/Collectors self insuring?
PSA signed a contract with FedEx. Usually FedEx has limited liability per the terms of the contract.
@craig44 said:
I must be missing something here. if the cards were on the fedex truck, why is it that PSA is responsible for any payouts? wouldnt that be FedEx's responsibility? or is PSA/Collectors self insuring?
PSA signed a contract with FedEx. Usually FedEx has limited liability per the terms of the contract.
so they must be trading liability for much cheaper rates?
@craig44 said:
I must be missing something here. if the cards were on the fedex truck, why is it that PSA is responsible for any payouts? wouldnt that be FedEx's responsibility? or is PSA/Collectors self insuring?
there is part of this puzzle i am not seeing
When you send cards in for grading you pay PSA for the insurance, not FedEx. Your contract is with PSA. It should be on PSA to pay the claim. It would be up to PSA to get repaid by FedEx.
If people are thinking that FedEx should be paying the claim, they may want to rethink that.
FedEx has a maximum claim limit of $1,000 for collectibles, regardless of the declared value. This cap applies to items such as jewelry, art, and other extraordinary value items, meaning that even if a higher value is declared, the payout will not exceed this limit.
Claim Limits for Collectibles
Understanding FedEx's policies on collectible claims is crucial.
Maximum Claim Limit — The maximum payout for collectibles is capped at $1,000, regardless of declared value.
Types of Items — This limit applies to jewelry, watches, art, and collectibles.
Depreciation Clause — Payouts may be reduced based on depreciation of the item.
Insurance Options — FedEx offers additional insurance options, but the cap for collectibles remains.
Claim Filing Deadline — Claims for lost or damaged items must be filed within 60 days for U.S. packages.
LEADS - I wonder if there are any leads the police/PSA are working. Maybe there is a chance they can get the cards back. There is so much attention on this theft that I don't know how they cash them out in quantity. I've driven in the industrial park PSA is in and there are a lot of cameras on all of the buildings, Santa Ana has flock cameras, so hopefully they can trace who did this.
FUTURE ROBBERIES - The downside to the this story going national is that every crook knows that there are vunerable delivery trucks with unarmed drivers carrying over $1M in goods leaving the PSA sites. I think PSA will have to make a lot of changes to the entire grading process.
I still have two orders with PSA. For once I'm glad that they were slow with my order, but I'm very nervous what will happen once they ship. It would be nice if we could request to pick them up at the PSA drop off in Burbank.
Is the actual FMV loss amount much greater than say 5 or 10 million but 993K stated to minimize liability? 993,000 seems like a number finely crafted to be under a threshold.
It's the singer not the song - Peter Townshend (1972) Not even a minute do I buy the whole buh buh buh I'm a man-child japery - Me (2025)
@HOMETOWNSPORTS said:
Ok so If I own McDonalds Stock then I prolly should eat there a whole hell of a lot to effect the stock price. Yeah not sure how Blackrock uses Fedex or CGC?
Blackrock owns The Certified Collectibles Group and a rather large stake $6 Billion totaling 8% of Fedex. Corporations almost always utilize entities that they partly own or are heavily invested in.
Blackrock also holds $5.90B of UPS in the same fund. I don't think there's anything there. Their investment in CGC is different, but the FedEx angle isn't real.
@HOMETOWNSPORTS said:
Ok so If I own McDonalds Stock then I prolly should eat there a whole hell of a lot to effect the stock price. Yeah not sure how Blackrock uses Fedex or CGC?
Blackrock owns The Certified Collectibles Group and a rather large stake $6 Billion totaling 8% of Fedex. Corporations almost always utilize entities that they partly own or are heavily invested in.
Blackrock also holds $5.90B of UPS in the same fund. I don't think there's anything there. Their investment in CGC is different, but the FedEx angle isn't real.
As for recovery, if the thieves have more than a 3rd grade education they will crack out the cards, burn any that are less than 1/1000, sit on the cards at least 12 months or ideally several years, then sell raw but not locally or submit to CGC.
Said the same for the Memory Lane theft but those morons put on a clinic of what not to do.
It's the singer not the song - Peter Townshend (1972) Not even a minute do I buy the whole buh buh buh I'm a man-child japery - Me (2025)
Is the actual FMV loss amount much greater than say 5 or 10 million but 993K stated to minimize liability? 993,000 seems like a number finely crafted to be under a threshold.
From the link in the OP story: According to an October 19 report from Benjamin Burrows of The Athletic, PSA placed the estimated value of two stolen pallets at $963,000. Approximately 50 additional packages were taken from a third pallet, meaning the final loss could exceed that figure.
A gembryo is the early developmental stage of a perfect card.
@craig44 said:
I must be missing something here. if the cards were on the fedex truck, why is it that PSA is responsible for any payouts? wouldnt that be FedEx's responsibility? or is PSA/Collectors self insuring?
there is part of this puzzle i am not seeing
When you send cards in for grading you pay PSA for the insurance, not FedEx. Your contract is with PSA. It should be on PSA to pay the claim. It would be up to PSA to get repaid by FedEx.
ok, got it. sounds like they are self insuring. with card values as high as they are now, that sure seems like quite a bit of risk in encur.
kind of surprised they dont go with a third party like collectinsure or some such and just have submitters work through them.
with all the news this is making, i am sure there are many other bad actors who are taking notice...
ok, got it. sounds like they are self insuring. with card values as high as they are now, that sure seems like quite a bit of risk in encur.
kind of surprised they dont go with a third party like collectinsure or some such and just have submitters work through them.
with all the news this is making, i am sure there are many other bad actors who are taking notice...
PSA may be using a third party to insure the cards but your contract is still with PSA. Here is a Youtube video posted by a lawyer that explains most everything.
@craig44 said:
I must be missing something here. if the cards were on the fedex truck, why is it that PSA is responsible for any payouts? wouldnt that be FedEx's responsibility? or is PSA/Collectors self insuring?
PSA signed a contract with FedEx. Usually FedEx has limited liability per the terms of the contract.
so they must be trading liability for much cheaper rates?
@1982FootballWax said:
Max Fedex liability is capped $1000 per parcel. Or it may be per pickup???
Im sure PSA makes a tidy profit on the Insurance fees they charge
PSA certainly has their own agreement. The standard rate stuff is separate, but even there it's possible to get a bespoke agreement on a parcel by parcel basis as a consumer who walks into a FedEx express store.
@HOMETOWNSPORTS said:
Ok so If I own McDonalds Stock then I prolly should eat there a whole hell of a lot to effect the stock price. Yeah not sure how Blackrock uses Fedex or CGC?
Blackrock owns The Certified Collectibles Group and a rather large stake $6 Billion totaling 8% of Fedex. Corporations almost always utilize entities that they partly own or are heavily invested in.
Blackrock also holds $5.90B of UPS in the same fund. I don't think there's anything there. Their investment in CGC is different, but the FedEx angle isn't real.
YEAAHHH I generally most always perfer REAL effects and real gold and real ice cream over Artificial ideas, objects food etc.. YEE HAAWWW for Reality!
@HOMETOWNSPORTS said:
Ok so If I own McDonalds Stock then I prolly should eat there a whole hell of a lot to effect the stock price. Yeah not sure how Blackrock uses Fedex or CGC?
Blackrock owns The Certified Collectibles Group and a rather large stake $6 Billion totaling 8% of Fedex. Corporations almost always utilize entities that they partly own or are heavily invested in.
Blackrock also holds $5.90B of UPS in the same fund. I don't think there's anything there. Their investment in CGC is different, but the FedEx angle isn't real.
Mea culpa The CGC is owned by Blackstone not rock. Therefore need to find out the numbers for them
It's the singer not the song - Peter Townshend (1972) Not even a minute do I buy the whole buh buh buh I'm a man-child japery - Me (2025)
@HOMETOWNSPORTS said:
Ok so If I own McDonalds Stock then I prolly should eat there a whole hell of a lot to effect the stock price. Yeah not sure how Blackrock uses Fedex or CGC?
Blackrock owns The Certified Collectibles Group and a rather large stake $6 Billion totaling 8% of Fedex. Corporations almost always utilize entities that they partly own or are heavily invested in.
Blackrock also holds $5.90B of UPS in the same fund. I don't think there's anything there. Their investment in CGC is different, but the FedEx angle isn't real.
Big error i made earlier; The CGC is owned by Blackstone not rock. Therefore need to find out the numbers for them
When I submitted cards years ago either I was told by psa or it was in there written statement about sending cards for grading, to insure the card as as if it would get a 7. The value is not determined until the card is graded. If you send in, let's say an Aaron judge 1/50 and pay insurance for a 7, but it is greaded a 10, wow, it's worth a lot more. Then if stolen, psa gives you 7 money and you take the money, then if the card is recovered it's owned by psa. That would give psa to lose their own cards. Is correct?
I would think that once the items have been scanned into Fed Ex's possession that Fed Ex is responsible for them but I'd also assume that PSA has third party insurance coverage (like CIS for collectors) that would cover loss.
Collecting 1970s Topps baseball wax, rack and cello packs, as well as PCGS graded Half Cents, Large Cents, Two Cent pieces and Three Cent Silver pieces.
Comments
With the information given it seems most of the thinking has taken place. just a few more thoughts to get the juices flowing again
1.) Inside job. If so Is this the first time this as happened in 20+ years?
2.) Pallets sound AWFULLY heavy so maybe another truck got to the loading dock before the actual transport company and it took 60-90 minutes for the loading dock employees to figure out what happened? Or did it take 60-90 minutes to unload the Pallets order by order? so basically it seems if the original truck was loaded then it would have too be unloaded which you would think that would be suspicious.
3.) And finally to have faith in humanity - the shipper or transporter made an error in the trucks and or pallets to be loaded. Humans are allowed to make errors right?.... I like to be a weatherman where if I get the forecast wrong I still have a job
ROCK ON party people!!
Not first time you have asked, as has been gone over with you so very many times, I cannot do so without the subjects - your materfamilias imprimatur, as well as your paterfamilias who orchestrated the cinematography
It's the singer not the song - Peter Townshend (1972)
Not even a minute do I buy the whole buh buh buh I'm a man-child japery - Me (2025)
Ok make it personal, can’t handle the humor huh?? Grumpy gramps haha, my Mom passed away many moons past so let’s get back on topic.
Crime is bad.
A gembryo is the early developmental stage of a perfect card.
I'm no police, detective or investigator but I assume there are cameras all over the place down in the OC. Wouldn't they be able to track a truck that can haul pallets of cards pretty easily?
Haha Right! This seems like it was planned by the infamous George Clooney's Ocean 11,12 or 13 crew. This will be the great Pokémon Heist
Just seems like this happened too easily and the perps knew exactly when and how to do it.
A gembryo is the early developmental stage of a perfect card.
Make note that PSA had not uttered a single word about offering USPS registered. Perhaps after the next incident or the one after that, or the one after that...? Just how much Fedex Stock does Cohen's group own anyhow?
IMHO if you do not already have, get private insurance and a P.O. Box if you use PSA or CGC
It's the singer not the song - Peter Townshend (1972)
Not even a minute do I buy the whole buh buh buh I'm a man-child japery - Me (2025)
Hopefully in reality PSA shipping carrier decision makers realize that they have absolutely zero effect on the price of FEDex stock (but HEY if it "Feels Good" to say or believe it would then by all means believe so
)
This explains CGC only using Fedex (2Q Data) - their overseers have 6 Billion reasons:
Cohen / Point72 owns 375,868 Shares (2Q Data) - 118MM is pocket change for him, not much above what Soto makes per year, using Fedex may solely reside in the lets fist our customers territory.
It's the singer not the song - Peter Townshend (1972)
Not even a minute do I buy the whole buh buh buh I'm a man-child japery - Me (2025)
What is the CGC / Blackrock Fedex Data? Is that the amount of shipping business CGC does with Fedex?...
Also seems like the amount of business PSA would give to FedEx annually is pocket change as well and therefore would have little effect on FedEx's stock price.
Shipping carrier options for PSA's customers would seem to be very important.
Blackrock owns 8.78% of Fedex , 6.2 Billion dollars worth as of June 30.
Do you not understand why they would use a company (FDX) they are invested in?
It's the singer not the song - Peter Townshend (1972)
Not even a minute do I buy the whole buh buh buh I'm a man-child japery - Me (2025)
While this sucks for those whose cards have been stolen, one robbery in 20 years is hardly a big scandal. As long as PSA makes good on their guarantee and pays out current replacement value this really isn’t that big a deal.
For some context, PSA grades 100k cards a day, they will hit 1M in value before lunch tomorrow.
PSA will not pay out fair market value because they don’t know how to do so and never have. They will calculate based on their own financial presumption which will absolutely never be what could be expected by those who lost rare cards. There’s no way to accurately determine auction prices until they happen.
A gembryo is the early developmental stage of a perfect card.
and apparently PSA won't even refund the actual grading and shipping fees.
This means the submitter is out the cards, out their full values and the fees they paid for PSA and the fees they paid PSA to hand them off to what many believe to be the least trusted shipping entity in the USA.
If this is truly the situation then the words that come to mind are disgusting and despicable
It's the singer not the song - Peter Townshend (1972)
Not even a minute do I buy the whole buh buh buh I'm a man-child japery - Me (2025)
Anyone who has had a card damaged by PSA knows that you never get FMV. We all play the declared value game to save on grading fees and this is where it comes to bite you.
Ok so If I own McDonalds Stock then I prolly should eat there a whole hell of a lot to effect the stock price.
Yeah not sure how Blackrock uses Fedex or CGC?
Technically, their first option should be to replace the cards with cards of the same grade. Then they might realize that their replacement value offer is actually well below actual value.
Blackrock owns The Certified Collectibles Group and a rather large stake $6 Billion totaling 8% of Fedex. Corporations almost always utilize entities that they partly own or are heavily invested in.
It's the singer not the song - Peter Townshend (1972)
Not even a minute do I buy the whole buh buh buh I'm a man-child japery - Me (2025)
I long ago decided self grading no longer made economic sense.
This sad crime only reinforces my decision.
Of course they can’t predict future auctions, that kind of goes without saying.
They do however own a card pricing app and most of these cards will have a recent comp. And their guarantee even references their card app so I guess wait and see on how they payout here.
Appears PSA low ball offers in this matter are starting to go Viral.
Seems that those who contact them about the low ball offers that are less than the grading charge these victims already paid are being told "oh that was a mistake".
As was mentioned earlier in this thread :
@bgr said:
If my cards were on there I would be talking to an attorney
It's the singer not the song - Peter Townshend (1972)
Not even a minute do I buy the whole buh buh buh I'm a man-child japery - Me (2025)
Ok thank you for clarifying this. Yes corporations as you indicated most of the time tend to NATURALLY align their business practices and decisions for mutual gain.
@80sOPC
The part where you say this isn’t a big deal is all I need to see. It is a big deal. PSA is vulnerable and a number of people will need to suffer their losses. I’d suggest you consider not only the monetary aspect, but what of the folks who really wanted an authentic holdered card to keep and enjoy? Tell them it isn’t a big deal.
A gembryo is the early developmental stage of a perfect card.
How does that explain not being offered enough to cover the grading and shipping?
It's the singer not the song - Peter Townshend (1972)
Not even a minute do I buy the whole buh buh buh I'm a man-child japery - Me (2025)
I must be missing something here. if the cards were on the fedex truck, why is it that PSA is responsible for any payouts? wouldnt that be FedEx's responsibility? or is PSA/Collectors self insuring?
there is part of this puzzle i am not seeing
George Brett, Roger Clemens and Tommy Brady.
It could go either way depending on where the theft occurred and the agreement they have with FedEX is.
Can we prove someone did something wrong and if not where can we place the liability.
PSA signed a contract with FedEx. Usually FedEx has limited liability per the terms of the contract.
https://kennerstartinglineup.blogspot.com/
so they must be trading liability for much cheaper rates?
George Brett, Roger Clemens and Tommy Brady.
When you send cards in for grading you pay PSA for the insurance, not FedEx. Your contract is with PSA. It should be on PSA to pay the claim. It would be up to PSA to get repaid by FedEx.
If people are thinking that FedEx should be paying the claim, they may want to rethink that.
FedEx has a maximum claim limit of $1,000 for collectibles, regardless of the declared value. This cap applies to items such as jewelry, art, and other extraordinary value items, meaning that even if a higher value is declared, the payout will not exceed this limit.
Claim Limits for Collectibles
Understanding FedEx's policies on collectible claims is crucial.
Maximum Claim Limit — The maximum payout for collectibles is capped at $1,000, regardless of declared value.
Types of Items — This limit applies to jewelry, watches, art, and collectibles.
Depreciation Clause — Payouts may be reduced based on depreciation of the item.
Insurance Options — FedEx offers additional insurance options, but the cap for collectibles remains.
Claim Filing Deadline — Claims for lost or damaged items must be filed within 60 days for U.S. packages.
A couple of more random thoughts:
LEADS - I wonder if there are any leads the police/PSA are working. Maybe there is a chance they can get the cards back. There is so much attention on this theft that I don't know how they cash them out in quantity. I've driven in the industrial park PSA is in and there are a lot of cameras on all of the buildings, Santa Ana has flock cameras, so hopefully they can trace who did this.
FUTURE ROBBERIES - The downside to the this story going national is that every crook knows that there are vunerable delivery trucks with unarmed drivers carrying over $1M in goods leaving the PSA sites. I think PSA will have to make a lot of changes to the entire grading process.
I still have two orders with PSA. For once I'm glad that they were slow with my order, but I'm very nervous what will happen once they ship. It would be nice if we could request to pick them up at the PSA drop off in Burbank.
Something else...
Is the actual FMV loss amount much greater than say 5 or 10 million but 993K stated to minimize liability? 993,000 seems like a number finely crafted to be under a threshold.
It's the singer not the song - Peter Townshend (1972)
Not even a minute do I buy the whole buh buh buh I'm a man-child japery - Me (2025)
Blackrock also holds $5.90B of UPS in the same fund. I don't think there's anything there. Their investment in CGC is different, but the FedEx angle isn't real.
Usually the lowest bid wins in logistics.
As for recovery, if the thieves have more than a 3rd grade education they will crack out the cards, burn any that are less than 1/1000, sit on the cards at least 12 months or ideally several years, then sell raw but not locally or submit to CGC.
Said the same for the Memory Lane theft but those morons put on a clinic of what not to do.
It's the singer not the song - Peter Townshend (1972)
Not even a minute do I buy the whole buh buh buh I'm a man-child japery - Me (2025)
From the link in the OP story:
According to an October 19 report from Benjamin Burrows of The Athletic, PSA placed the estimated value of two stolen pallets at $963,000. Approximately 50 additional packages were taken from a third pallet, meaning the final loss could exceed that figure.
A gembryo is the early developmental stage of a perfect card.
ok, got it. sounds like they are self insuring. with card values as high as they are now, that sure seems like quite a bit of risk in encur.
kind of surprised they dont go with a third party like collectinsure or some such and just have submitters work through them.
with all the news this is making, i am sure there are many other bad actors who are taking notice...
George Brett, Roger Clemens and Tommy Brady.
PSA may be using a third party to insure the cards but your contract is still with PSA. Here is a Youtube video posted by a lawyer that explains most everything.
Zero chance PSA would accept liability for FedEx delivery of service. You don’t accept liability for a service you have no control over.
Max Fedex liability is capped $1000 per parcel. Or it may be per pickup???
Im sure PSA makes a tidy profit on the Insurance fees they charge
It's the singer not the song - Peter Townshend (1972)
Not even a minute do I buy the whole buh buh buh I'm a man-child japery - Me (2025)
PSA certainly has their own agreement. The standard rate stuff is separate, but even there it's possible to get a bespoke agreement on a parcel by parcel basis as a consumer who walks into a FedEx express store.
YEAAHHH I generally most always perfer REAL effects and real gold and real ice cream over Artificial ideas, objects food etc.. YEE HAAWWW for Reality!
Mea culpa The CGC is owned by Blackstone not rock. Therefore need to find out the numbers for them
It's the singer not the song - Peter Townshend (1972)
Not even a minute do I buy the whole buh buh buh I'm a man-child japery - Me (2025)
When I submitted cards years ago either I was told by psa or it was in there written statement about sending cards for grading, to insure the card as as if it would get a 7. The value is not determined until the card is graded. If you send in, let's say an Aaron judge 1/50 and pay insurance for a 7, but it is greaded a 10, wow, it's worth a lot more. Then if stolen, psa gives you 7 money and you take the money, then if the card is recovered it's owned by psa. That would give psa to lose their own cards. Is correct?
The speculative nature of the various posts in this thread is sublime, hilarious and garrulous all at once.
A gembryo is the early developmental stage of a perfect card.
PSA has released a statement
https://psacard.com/articles/articleview/15778/psa-theft-update?utm_source=x&utm_medium=social&utm_campaign=article&utm_content=www.psacard.com/articles/articleview/15778/psa-theft-update
A's World Championships-1910, 1911, 1913, 1929, 1930, 1972, 1973, 1974, 1989
I would think that once the items have been scanned into Fed Ex's possession that Fed Ex is responsible for them but I'd also assume that PSA has third party insurance coverage (like CIS for collectors) that would cover loss.
Collecting 1970s Topps baseball wax, rack and cello packs, as well as PCGS graded Half Cents, Large Cents, Two Cent pieces and Three Cent Silver pieces.
6,451 twists of the knife
hope no one here was affected
Holy geez, all the Pokemon and OnePiece and TCG stuff, no wonder everyone's pissed!
A gembryo is the early developmental stage of a perfect card.