PSA Grading Backlog Falls to 6.8 Million as Company Eyes Value Bulk Reopening

PSA’s grading backlog has fallen to 6.8 million items, continuing a months-long decline even as the company begins taking in a new wave of lower-priced submissions following the reopening of its Value service. In a November 3 update to its public Backlog Tracker, PSA said the active grading queue is down from 7.2 million items in its previous update, a reduction of roughly 400,000 cards and other collectibles. Daily production remains consistent with recent levels, according to the company, although the backlog declined more slowly during the latest reporting period because submission volume increased after Value grading reopened.

The update comes less than a week after PSA restored its $39.99 Value service on October 29. As CollectiblesNews.com reported when Value reopened, the service returned with the backlog still sitting at 7.2 million units and an estimated turnaround time of 90 to 100 business days in the United States. PSA said all existing orders continue to receive priority over new Value submissions, meaning collectors who had cards at PSA before the reopening are not supposed to lose their place because of the new influx of lower-priced orders.

The new 6.8 million figure also shows just how much progress PSA has made since the summer. In late August, CollectiblesNews.com reported that PSA’s backlog had fallen to 10.9 million items. Since then, another 4.1 million items have been removed from the active backlog, a decline of roughly 38% in a little over two months.

PSA’s tracker shows the backlog dropping steadily through the fall. It fell from 10.9 million on August 25 to 9.9 million on September 8, approximately 9 million on September 22, 8.2 million on October 6, 7.2 million on October 20 and now 6.8 million as of November 3.

That progress is important because PSA has tied the reopening of lower-priced grading services to its ability to bring the backlog under control. When the company paused Value and Value Bulk submissions in June, it said the decision followed a 20% spike in submissions and established a goal of reducing the backlog to 5 million items before fully reopening its service levels. PSA has since moved toward that goal in stages rather than waiting for the backlog to reach 5 million. Standard grading returned first, followed by Value at the end of October. The company is now indicating that Value Bulk could be the next service level to return.

“Maintaining this operational momentum will position us to evaluate reopening Value Bulk in the coming months,” PSA said. That wording stops short of announcing a reopening date.

Collectors can follow future updates through PSA’s Backlog Tracker, which the company says is updated every two weeks using the same data reviewed by PSA management.