Federal Lawsuit Alleges PSA Fraud: What Happens to Your Cards?
PokePulse
348,281 views
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A 188-page federal lawsuit just accused PSA of fraud and RICO violations — and the most damaging allegation is about the very first card PSA ever graded. Here's what the Funk v. PSA class action lawsuit actually says, and what it means for Pokémon card collectors, graded card values, and the future of card grading.
Filed July 28, 2026 in federal court in Maryland, the lawsuit claims PSA's grading was never as objective as advertised, that Gem Mint 10 populations are managed rather than earned, and that parent company Collectors Holdings sits on every side of the same card — grading it, pricing it, vaulting it, and selling it.
It all starts with cert #00000001: a trimmed T206 Honus Wagner that sold for $2.8 million and was never revoked. Everything in this video is based on the complaint and public reporting. These are allegations — nothing has been proven in court, and PSA has not yet responded to the lawsuit.
Sources:
Dexerto — PSA hit with class action lawsuit accusing grading giant of fraud https://www.dexerto.com/entertainment...
WMAR 2 News Baltimore — Baltimore man sues PSA alleging federal RICO violations https://www.dexerto.com/entertainment...
SEScoops — PSA hit with fraud lawsuit https://www.sescoops.com/article/psa-... Resell Calendar — PSA slapped with RICO lawsuit https://resellcalendar.com/news/news/...
GameFragger — PSA facing class action over grading practices and altered Honus Wagner card https://gamefragger.com/other/psa-is-...
SI.com — PSA updates on-site grading options amid record-breaking National https://www.si.com/collectibles/psa-u...
Athlon Sports / Yahoo — The PSA grading scandal: how fraud allegations are reshaping trust https://athlonsports.com/collectibles...
DISCLAIMER: Nothing in this video is financial advice. I have sealed Pokémon product and raw cards in my personal collection, which I disclose on camera. Do your own research before buying or selling anything.
#psa #pokemoncards #cardgrading #PSALawsuit #pokemontcg #gradedcards #tradingcards #sportscards #cardcollecting #pokemoncollector
20 Comments
They give the big boys in the hobby 10’s and grade down smaller customers.
Since they're the ones who are doing the grading, that gives them full power to decide if they want to demand more money from me. Second why are they asking for extra from me when the number itself doesn't determine the level of service required by their grading system. Getting it a ten doesn't automatically mean it get the royal treatment there versus what a card graded a 6 might get. They all get the same plastic casing and the same sticker added with a serial number. So why pay them extra? Only thing I figure is they want a slice of the 'pie' if I ever want to sell it, but that's them assuming that the collector would want to sell in the first place. It could just be someone who wanted to preserve a special card that meant something to them, like having it since childhood or something they got from a friend.
That whole set up and fine print just felt wrong, and my gut feeling told me to avoid getting my stuff graded. Also the idea of sending my cards in the mail and then waiting for months to get them back terrified me. So many things could happen during it's journey and I am NOT willing to take that risk. Not when they're perfectly save in their sleeves sitting in a binder with me.
Federal Lawsuit Alleges PSA Fraud: What Happens to Your Cards?
PokePulse
348,281 views
💚 Register to be an organ donor — it takes 2 minutes and saves lives: https://www.organdonor.gov/sign-up
A 188-page federal lawsuit just accused PSA of fraud and RICO violations — and the most damaging allegation is about the very first card PSA ever graded. Here's what the Funk v. PSA class action lawsuit actually says, and what it means for Pokémon card collectors, graded card values, and the future of card grading.
Filed July 28, 2026 in federal court in Maryland, the lawsuit claims PSA's grading was never as objective as advertised, that Gem Mint 10 populations are managed rather than earned, and that parent company Collectors Holdings sits on every side of the same card — grading it, pricing it, vaulting it, and selling it.
It all starts with cert #00000001: a trimmed T206 Honus Wagner that sold for $2.8 million and was never revoked. Everything in this video is based on the complaint and public reporting. These are allegations — nothing has been proven in court, and PSA has not yet responded to the lawsuit.
Sources:
Dexerto — PSA hit with class action lawsuit accusing grading giant of fraud https://www.dexerto.com/entertainment...
WMAR 2 News Baltimore — Baltimore man sues PSA alleging federal RICO violations https://www.dexerto.com/entertainment...
SEScoops — PSA hit with fraud lawsuit https://www.sescoops.com/article/psa-... Resell Calendar — PSA slapped with RICO lawsuit https://resellcalendar.com/news/news/...
GameFragger — PSA facing class action over grading practices and altered Honus Wagner card https://gamefragger.com/other/psa-is-...
SI.com — PSA updates on-site grading options amid record-breaking National https://www.si.com/collectibles/psa-u...
Athlon Sports / Yahoo — The PSA grading scandal: how fraud allegations are reshaping trust https://athlonsports.com/collectibles...
DISCLAIMER: Nothing in this video is financial advice. I have sealed Pokémon product and raw cards in my personal collection, which I disclose on camera. Do your own research before buying or selling anything.
#psa #pokemoncards #cardgrading #PSALawsuit #pokemontcg #gradedcards #tradingcards #sportscards #cardcollecting #pokemoncollector