as someone who doesn’t collect graded, i think a major grading company losing its value sounds like a dream come true. imagine all the dirt cheap slabs i could crack and put in set binders lol
Really doubt cgc cards will go down enough to make them “dirt cheap”. If so the amount of high value cards in cgc slabs is so high that people would just crack them and resubmit themselves. Also theres like a billion small grading companies out there, there nothing holding you back from just cracking those. Ur just dumb asf
What I'm not understanding is how in the hell do all these "elite hobbyists" believe "test" cards "that old" and that many.... MINT!!! I get maybe a set or 2 but this many was a red flag from the beginning but everyone saw them as a cash grab like everything else and to the market they went 🤔 WE NEED TO TALK ABOUT HOW MUCH CORRUPTION IS ACTUALLY IN THIS HOBBY NOW. Great job as always 👏
That was one of my concerns early on too. Also the overwhelming number of cards and different layouts seemed strange given the relatively short window for playtesting. I don't know . . . it's plausible extra sets were printed and never used, but strange that they would have been kept or protected, especially since there was no reason to believe they would ever be worth something.
When it comes to the payout for these cards. Who is going to pay for this mistake? Insurance? 1- I would think there is a clause in their contract, that states, they will NOT cards like this. Test/concept or cards. Sure they still could grade them but it wouldn’t mean they would be covered. If this is true, Matt has a lot of explaining to do. 2- Say they will cover cards like that. They will do their own investigation. Depending on what they find. Like if they find out they authenticated them solely on the word of one person, nothing more. From what understand there were multiple submissions. Did CGC call that one person for each individual submission? Either way I promise you they will look for a way not to pay. CGC- Honestly I think CGC will not pay anything near the purchase price for this cards. The estimated loss people have been saying, is from 5-20 million. They don’t have that kind of money. Now they want everyone to send their cards in, to examine. It’s actually, so they have the leverage. That they can low ball the buyer. It’s also possible they will try to deny a payout to the buyers that will not send theirs cards in, when told to. Not matter what happens this will affect the hobby in so many different ways far a long time!
This is what I fear too . . . that cards will be used as leverage to undercompensate buyers. I'm hoping that's not the case and that CGC finds away to make buyers whole. Auction houses offering refunds is probably the best outcome. They have much more resources and influences to seek restitution from whomever is responsibility (after investigations have concluded).
I think tag will take over with their grading and the process. They literally give you a grading kit, detailed breakdown on why your card got the grade it got vs psa where you’ll never know why.
The grading kit only comes with a bulk submission of a minimum of 25+ cards, depending on the tier. But I agree with you that TAG may take over if grading companies don't step up. Even PSA may lose in the long run if they keep upcharging as well.
Thank goodness I never bought any CGC cards. I feel bad for people that graded with them. Whether you like it or not, the bad news is out and there will always be that stain on their record, meaning people will second guess buying CGC graded cards. The hardcore community will always be reasonable, but the casuals will hear about it and run, it is what it is.
Nope, I realized I said "monster" while editing and thought about refilming. Instead, I just hoped no one would notice. Thanks for being the one to notice. Sorry Scott (PFM)!
If the pokemon company themselves wont confirm authenticity on such lucrative cards with next to no info on, then they should be assumed as fake. They shouldnt grade a card without production data to validate its an official licensed product
I think there can be a balance. There are ways to determine a cards' legitimacy (beyond a reasonable doubt); however it must be done thoroughly and systematically. To be fair, I don't know what process or criteria CGC used, but it appears they relied to heavily on provenance without enough attention to physical attributes.
I mean, is it not a thing that something to be that valuable is being rare? Like there are 2000+ tera umbreon PSA 10, and more in the making, but that New mew? That should actually worth the grading, like the whole thing is so distorted I dont see the point, specially on New sets
Dont forget the 10,000 of thousands of FAKE 1ST Edition stamped vintage cards CGC graded. Competition is great unless a failure from tge begging like Cgc lol.
Wait, are you suggesting CGC has graded thousands of fake-stamp vintage cards? This is the first I've hear of this, can you refer me to a source of some kind (video, article, etc)?
Sites like eBay definitely have responsibility. Especially eBay since they check and guarantee authenticity. Your bias is showing a bit in your focus of the blame
The authenticity guarantee is to verify that the product is legitimate and matches what was advertised in the description/photos, not to reproduce or overturn research that's already been done by a professional grading company. Often, people would sell fake slabs, different cards, or send empty boxes to a buyer. In my opinion, eBay (and other sites) are there to function as a middleman and verify that the product received is what is advertised and is in good standing in their respective grading company archives. I will concede some ground here and say that since auction houses profit off of sales fees and buyer's premiums, that they do have some responsibility in the matter. This is just my opinion.
If i had these slabs I would just hold on to it because it will be rarer than actual cards..... its authenticated fake cards which bring out a new form of collectables lol. Also, if cgc go bankrupted from this these cards would rise even more... for being the cause of their demise. And there is a limited amount of them...
There could be some truth to this. Assuming the majority get destroyed, it's possible that these become collectible (not as cards) but as artifacts of Pokemon's biggest scandal. I'm skeptical that they would have much desirability to serious collectors though . . . more of a novelty trinket with a story.
I think alot of people were just waiting for a good reason to stop using their service. After they ruined their grading scale & the way they label slabs, i think people were already fed up. This incident just sealed the deal.
Overall, I haven't been impressed with CGC's decisions; however, I do think the competition and balance they offer are a net positive to the graded card market. Missed opportunities and self-inflicted wounds . . .
They will survive 100 percent even more so if they decide not to pay anyone back aswell.. yall are still gonna go through them when psa and beckett go slow, guaranteed!! They will be fine pokemon card collectors and smoothest brain peope on the planet the fact "printer meta data" is a new concept to the majority of yall is proof of this!
I had never heard of printer metadata before this, but I'm shocked this isn't common knowledge or standard procedure for grading cards . . . especially considering how long the high-end sports card market has been around.
as someone who doesn’t collect graded, i think a major grading company losing its value sounds like a dream come true. imagine all the dirt cheap slabs i could crack and put in set binders lol
Really doubt cgc cards will go down enough to make them “dirt cheap”. If so the amount of high value cards in cgc slabs is so high that people would just crack them and resubmit themselves. Also theres like a billion small grading companies out there, there nothing holding you back from just cracking those. Ur just dumb asf
be sure to authenticate it yourself "XD
What I'm not understanding is how in the hell do all these "elite hobbyists" believe "test" cards "that old" and that many.... MINT!!! I get maybe a set or 2 but this many was a red flag from the beginning but everyone saw them as a cash grab like everything else and to the market they went 🤔 WE NEED TO TALK ABOUT HOW MUCH CORRUPTION IS ACTUALLY IN THIS HOBBY NOW. Great job as always 👏
That was one of my concerns early on too. Also the overwhelming number of cards and different layouts seemed strange given the relatively short window for playtesting. I don't know . . . it's plausible extra sets were printed and never used, but strange that they would have been kept or protected, especially since there was no reason to believe they would ever be worth something.
Honestly this is too many issues for CGC since they started trading cards. Need to go away/be shut down.
When it comes to the payout for these cards. Who is going to pay for this mistake?
Insurance? 1- I would think there is a clause in their contract, that states, they will NOT cards like this. Test/concept or cards. Sure they still could grade them but it wouldn’t mean they would be covered. If this is true, Matt has a lot of explaining to do.
2- Say they will cover cards like that. They will do their own investigation. Depending on what they find. Like if they find out they authenticated them solely on the word of one person, nothing more. From what understand there were multiple submissions. Did CGC call that one person for each individual submission? Either way I promise you they will look for a way not to pay.
CGC- Honestly I think CGC will not pay anything near the purchase price for this cards. The estimated loss people have been saying, is from 5-20 million. They don’t have that kind of money.
Now they want everyone to send their cards in, to examine. It’s actually, so they have the leverage. That they can low ball the buyer. It’s also possible they will try to deny a payout to the buyers that will not send theirs cards in, when told to.
Not matter what happens this will affect the hobby in so many different ways far a long time!
This is what I fear too . . . that cards will be used as leverage to undercompensate buyers. I'm hoping that's not the case and that CGC finds away to make buyers whole. Auction houses offering refunds is probably the best outcome. They have much more resources and influences to seek restitution from whomever is responsibility (after investigations have concluded).
Cgc takes on such stupid risk grading all the garbage they choose to. If they refund everyone who lost money they might be ok, but its so dumb.
Ya, not very wise from a risk mitigation perspective.
Can't wait for the day grading (Pokemon) cards become obsolete
I think tag will take over with their grading and the process. They literally give you a grading kit, detailed breakdown on why your card got the grade it got vs psa where you’ll never know why.
The grading kit only comes with a bulk submission of a minimum of 25+ cards, depending on the tier. But I agree with you that TAG may take over if grading companies don't step up. Even PSA may lose in the long run if they keep upcharging as well.
The upcharging incentivises grading cards at least slightly higher to charge more@@philycsteak
Thank goodness I never bought any CGC cards. I feel bad for people that graded with them. Whether you like it or not, the bad news is out and there will always be that stain on their record, meaning people will second guess buying CGC graded cards. The hardcore community will always be reasonable, but the casuals will hear about it and run, it is what it is.
I had to double check and make sure I wasn't the crazy one lol. Like 4th time I have heard "pokemon flying monster". PFM is Pokemon Flying Master haha
Nope, I realized I said "monster" while editing and thought about refilming. Instead, I just hoped no one would notice. Thanks for being the one to notice. Sorry Scott (PFM)!
@pokemon_classics haha 🤣
Awesome video as always.
Miss you PK!
qt
"There is probably a LITTLE BIT of validity to that criticism" - LOL!!! You sir are too kind :)
I try to be positive and avoid rushing to judgement . . . of course, I have my biases too.
If the pokemon company themselves wont confirm authenticity on such lucrative cards with next to no info on, then they should be assumed as fake. They shouldnt grade a card without production data to validate its an official licensed product
I think there can be a balance. There are ways to determine a cards' legitimacy (beyond a reasonable doubt); however it must be done thoroughly and systematically. To be fair, I don't know what process or criteria CGC used, but it appears they relied to heavily on provenance without enough attention to physical attributes.
lawsuits incoming. All people effected should group up and file a lawsuit against CGC.
I mean, is it not a thing that something to be that valuable is being rare? Like there are 2000+ tera umbreon PSA 10, and more in the making, but that New mew? That should actually worth the grading, like the whole thing is so distorted I dont see the point, specially on New sets
CGC's response is just awful,
Dont forget the 10,000 of thousands of FAKE 1ST Edition stamped vintage cards CGC graded. Competition is great unless a failure from tge begging like Cgc lol.
Wait, are you suggesting CGC has graded thousands of fake-stamp vintage cards? This is the first I've hear of this, can you refer me to a source of some kind (video, article, etc)?
Sites like eBay definitely have responsibility. Especially eBay since they check and guarantee authenticity. Your bias is showing a bit in your focus of the blame
The authenticity guarantee is to verify that the product is legitimate and matches what was advertised in the description/photos, not to reproduce or overturn research that's already been done by a professional grading company. Often, people would sell fake slabs, different cards, or send empty boxes to a buyer. In my opinion, eBay (and other sites) are there to function as a middleman and verify that the product received is what is advertised and is in good standing in their respective grading company archives. I will concede some ground here and say that since auction houses profit off of sales fees and buyer's premiums, that they do have some responsibility in the matter. This is just my opinion.
they gucci
Not even close. Cgc is done.
Trust me bro
You make a compelling argument!
If i had these slabs I would just hold on to it because it will be rarer than actual cards..... its authenticated fake cards which bring out a new form of collectables lol. Also, if cgc go bankrupted from this these cards would rise even more... for being the cause of their demise. And there is a limited amount of them...
No. Get the thousands to millions of $$$ back at all costs. The fake CGC authenticated cards will never be worth what they sold for just last week.
Never going be worth what people paid for them
All i am saying is 20-30 years from now people will forget the origin of the story and its the MAGIC blastoise all over again.
There could be some truth to this. Assuming the majority get destroyed, it's possible that these become collectible (not as cards) but as artifacts of Pokemon's biggest scandal. I'm skeptical that they would have much desirability to serious collectors though . . . more of a novelty trinket with a story.
I think alot of people were just waiting for a good reason to stop using their service. After they ruined their grading scale & the way they label slabs, i think people were already fed up. This incident just sealed the deal.
Overall, I haven't been impressed with CGC's decisions; however, I do think the competition and balance they offer are a net positive to the graded card market. Missed opportunities and self-inflicted wounds . . .
They will survive 100 percent even more so if they decide not to pay anyone back aswell.. yall are still gonna go through them when psa and beckett go slow, guaranteed!! They will be fine pokemon card collectors and smoothest brain peope on the planet the fact "printer meta data" is a new concept to the majority of yall is proof of this!
I had never heard of printer metadata before this, but I'm shocked this isn't common knowledge or standard procedure for grading cards . . . especially considering how long the high-end sports card market has been around.