February '24 Grading Recap
Published March 2nd, 2024
- Overall grading activity was down 1% in February vs January (and up 25% YoY).
- PSA graded 1.24m cards - up 1% vs January, and up 23% YoY
- CGC graded 164k cards - down 11% vs January, and up 25% YoY
- SGC graded 146k cards - down 7% vs January, and up 58% YoY
- Beckett graded 66k cards - up 13% vs January, and up 3% YoY
- Overall grading activity was down 1% in February vs January (and up 25% YoY).
- PSA graded 1.24m cards - up 1% vs January, and up 23% YoY
- CGC graded 164k cards - down 11% vs January, and up 25% YoY
- SGC graded 146k cards - down 7% vs January, and up 58% YoY
- Beckett graded 66k cards - up 13% vs January, and up 3% YoY
February Grading Summary
February Grading Summary - Sports
February Grading Summary - TCG+
Items Graded - by Month
Items Graded - by Month - Excluding PSA
Category Comparison
TCG Cards Graded at PSA
Items Graded by Era
Gem Rate Breakdown by Era
February 2024 PSA Grading Recap
- PSA graded 1,240,198 items during February; total output increased 1% vs January and was up 23% year-over-year.
- PSA graded 1,240,198 items during February; total output increased 1% vs January and was up 23% year-over-year.
Category Summary
Football set the pace for PSA in February
- TCG was 39% of cards graded (vs 43% in November)
- Football (+32%) and baseball (+12%) drove sports card grading growth in February.
Set Summary - Sports & Other
2023 Prizm football jumped to the top spot
Set Summary - TCG+
Pokemon 151 Japanese hangs on to its lead at the top
Player Summary - Sports & Other
Ohtani reclaims the top spot from Jordan
Subject Summary - TCG
Charizard reclaims the top spot from Pikachu
Card Summary - Sports & Other
CJ Stroud holds on to the top spot
Card Summary - TCG
Van Gogh Pikachu is still 2x the next closest card on the list
What's Next for PSA?
- PSA activity was up slightly in February, narrowly setting a new record-high for output with 1.24 million cards graded. Football was the primary driver of growth, while TCG actually saw a noteworthy decline in activity despite a very modest pricing special in February. We’ll see if the TCG special has more a meaningful impact on March results.
- The big news is obviously the SGC acquisition. In the near term, we don’t expect to hear much on this front.
- Meanwhile, PSA is offering a vintage special in March. As discussed last month, we are also interested to hear more about the upcoming release of grader’s notes - which we expect to be initially available on a limited basis.
February 2024 SGC Grading Recap
- SGC graded 146,312 cards during February - a 7% decrease vs January and a 58% increase year-over-year.
- SGC graded 146,312 cards during February - a 7% decrease vs January and a 58% increase year-over-year.
Category Summary
Football and basketball were the top categories in February
- Football was the top performing category for SGC in February (+10%).
Set Summary
2023 Prizm football was the most graded set
Player (& Subject) Summary
Jordan surpassed Ohtani in February
Card Summary
CJ Stroud claimed the top spot
What's Next for SGC?
- While SGC output dipped in February, results were still strong on the heels of a record-setting January. Without a major baseball special in the market, football actually fueled the sports category in February.
- As mentioned, we don’t expect to hear much from PSA regarding the SGC acquisition; that said, we will be paying close attention to how the acquisition impacts SGC grading volumes over the next few months. Limited updates could cause some pause with SGC enthusiasts and lead to a decline in submissions in the near term.
- Overall, the PSA acquisition is clearly a huge win for the SGC team and we congratulate them on strong execution over the past couple of years. They have arguably been the most consistent grader from an output standpoint and did an excellent job of maintaining and building on the momentum from the pandemic - even after PSA cleared its backlog.
Other Graders - CGC
Category Summary
Set Summary
Card Summary
What's Next for CGC?
- CGC TCG saw a modest decline in grading activity in February. TCG was still >90% of CGC volume and continues to be the driving force for grading activity.
- On the flip side, CGC sports has seen fluctuating performance. In light of the recent PSA/SGC developments, there appears to be a potential window for alternative graders to gain traction. It's possible CGC may adopt more aggressive pricing strategies or promotions in the short term in hopes of getting more cards in CGC slabs.
- However, for CGC sports to break through, identifying and leveraging a distinct strength is crucial. SGC's success in baseball, for instance, was significantly boosted by their partnership with Topps/Fanatics, complemented by their turnaround times. CGC could see greater benefits from implementing more strategic and focused pricing specials, rather than adopting a broad-based approach.
Other Charts - Beckett
Category Summary
Card Summary - Sports
Card Summary - TCG
What's Next for Beckett?
- Beckett saw a second consecutive month of improvements in February. Additionally, the company did offer a February pricing special - which could help results in March.
- There’s an opportunity for Beckett to make some noise in response to the PSA/SGC news. The market continues to be at odds with its longstanding affinity for the Beckett brand and a growing disillusionment among its once-loyal base. Hobby sentiment suggests many have given up hope that Beckett can kick things back into gear.
- That said, a Beckett resurgence would be welcomed by many. The big question, however, remains: What's motivating Beckett? At this point, what Beckett deems important is mostly a mystery.