PSA Backlog Drops to 12 Million as Value Tiers Stay Paused

PSA Says Backlog Is Down to 12 Million Cards

PSA says it is making progress on its grading backlog, with the company stating in a Tuesday afternoon social media update that new submissions have been fewer than expected. The latest figure places the backlog at approximately 12 million units, and PSA says the queue is still trending downward.

In the same update, PSA said its grading team has been working overtime and weekends to move through the volume of cards in the system. The company has continued to post periodic updates as collectors wait for more clarity on when normal service levels might return.

That progress has done little to ease frustration among customers whose orders are already weeks or months beyond their estimated completion dates. PSA has responded to many of those comments with brief status updates, but collectors have largely been left waiting for a more specific timeline.

How PSA Got Here

The current backlog situation traces back to a major surge in submissions following PSA’s announcement of a $200 million investment on May 14. That influx of orders helped push the company into a temporary pause on value-tier submissions, a move PSA said was intended to protect cards already in its care.

On May 28, PSA issued an official site announcement explaining the temporary pause on new submissions for value-tier services, including Value Bulk, Value Plus, and Value Max. The pause officially began on June 2, 2026.

PSA later said the backlog was around 10 million cards, but a June 9 update revised that figure upward to nearly 14 million after another surge in submissions. The company also launched its PSA Backlog Tracker, which includes a basic bar chart and occasional progress updates.

When Will PSA Value Tiers Reopen?

PSA has said the value tiers are expected to return once the backlog falls to roughly 5 million cards. The company has not given a firm reopening date, and its recent messaging suggests the timeline will depend on how quickly the queue continues to shrink.

Based on past GemRate grading data, PSA has been handling around two million cards per month. If the company’s current all-hands-on-deck approach lifts output by about 20 percent, that would put monthly capacity closer to 2.4 million cards. Under that scenario, and assuming submissions remain near zero, an October reopening would be a reasonable target.

That remains an estimate rather than an official PSA projection. For now, the company appears focused on reducing the backlog first and reopening the value tiers only after it reaches the level it has set internally.

What Collectors Are Watching Now

Collectors will be watching future grading data closely, especially the June GemRate report, to see how PSA’s pause has affected submission volumes across the market. With the value tiers unavailable for at least the next few months, budget-conscious collectors are left with limited choices.

For many, the options are simple: wait for PSA to reopen or move to another grading company with lower-priced service levels. That decision has become more important as the backlog continues to shape the broader grading landscape.

PSA Still Leads the Grading Market

PSA remains the most recognizable name in card grading and authentication, and market data continues to show it as the dominant force in the hobby. But the company is not operating in a vacuum, and several competitors are trying to capture more of the grading demand while PSA works through its queue.

Collectors Universe, PSA’s parent company, has expanded its footprint in the grading space in recent years. The company acquired SGC in 2023 and Beckett in 2025. Beckett typically ranks third in grading market share, making those acquisitions significant in the current landscape.

Outside the Collectors umbrella, other grading companies are also competing for business. CGC is the second-largest player by market share and is known not only for card grading but also for grading magazines and comics. TAG has continued to grow and is consistently grading more than 50,000 cards per month, although it is currently at capacity for its lowest-priced grading options.

C3 Grading is another lower-cost alternative and has been mentioned by collectors as an affordable option in the market. As PSA’s pause stretches on, those competitors have more room to win submissions from collectors who do not want to wait.

Why the PSA Pause Matters Beyond the Backlog

The backlog update is about more than just one company’s operational challenges. PSA’s position at the top of the grading market means any slowdown has ripple effects across the hobby. When value-tier submissions are paused, collectors, dealers, and sellers all have to adjust their plans around the reduced availability.

That can affect buying decisions on raw cards, grading timelines for inventory, and the overall flow of cards moving through the market. It can also create new opportunities for rival grading companies to gain traction with collectors who are willing to try alternatives while PSA works through its backlog.

The longer the pause lasts, the more likely it is that some of that business shifts elsewhere. Whether PSA’s current strategy is simply a response to overwhelming demand or part of a broader move toward higher-end submissions, the effect on the hobby is already clear: collectors are paying close attention to every new update.

What PSA Has Said So Far

• PSA says new submissions have been fewer than anticipated.
• The company says its current backlog is approximately 12 million units and trending down.
• PSA says its grading team is working overtime and weekends.
• Value-tier services, including Value Bulk, Value Plus, and Value Max, remain paused.
• PSA has said those tiers should reopen once the backlog drops to about 5 million cards.

For now, PSA’s latest update suggests the company is moving in the right direction, even if the pace still leaves many collectors waiting longer than expected.