Why Would You Buy 9s and 10s?

While conducting research for a Beckett Vintage Collector article I wrote about the 1971 Topps baseball set, I checked out Topps’ website. It has a question and answer section. One of the questions was, “What card condition is guaranteed by Topps?” Topps’ answer to this question jolted me.

“Any card that is determined to grade an 8 (NM-MT) or better meets Topps’ standards. Due to production and handling of the cards, we strive to produce mint or better card (s) but can’t guarantee these conditions.”

You might think that Topps would say that its quality control system would produce cards that a third-party grader (TPG) would be labeled all 10s. But even in 2021 the nature of the grading and production processes involves humans, not machines or computers, making this impossible.

Topps is acknowledging that 9s and 10s are extremely difficult to come by. And this is reflected in the current amazing (some would say outrageous) prices being paid for both vintage and modern cards that receive the top two grades from any TPG.

Let’s be honest. How many hobby veterans can tell the difference between a 9 and a 10? I say just a handful. As a material, cardboard has inherent flaws. So a TPG might designate a vintage or modern card the top two grades not only because the manufacturing and printing processes were perfect but because the cardboard sheet had no flaws in it either.

In the late 1990s some hobby participants stated it didn’t make sense for TPGs to give cards a 9 or a 10. Why? The variance was so small that people would say anyone buying more than an 8 was overspending. If you’re willing to pay a huge premium for a 9 or a 10, you’re buying the brand, not the card, the thinking goes.

Here’s where the grade definitions become critical. PSA defines its Gem Mint 10 as a “virtually perfect card.” But what does that really mean? PSA says it’s four perfectly sharp corners, sharp focus, and full original gloss. It must be free from staining of any kind. And centering? Within a tolerance not to exceed approximately 55/45 to 60/40 percent on the front and 75/25 on the back.

A PSA Mint 9 is “a superb condition card that exhibits only one of the following minor flaws: a very slight wax stain on reverse, a minor printing imperfection, or slightly off-white borders. Centering must be approximately 60/40 to 65/35 or better on the front and 90/10 or better on the reverse.”

So why are 9s and 10s, the most expensive cards whether vintage or modern, still in demand? It all comes down to ego and the PSA Registry. This registry allows collectors with deep pockets to compete for the honor of being designated as having the highest-graded set for any of dozens of sets currently being collected. Annual awards are presented by PSA. Some people want the best and thus are not really looking at the aesthetics of the card but instead concentrating on the holder number. Is there anything wrong with this? No, not at all. But you can’t help but think that those that can afford to pay a premium for 9s and 10s are just stroking their own egos.

Finally, it’s only right to disclose that a year and a half ago I financially benefitted from having a rare 1968 PSA card that I didn’t even know I had until it was put up for auction. It was a Mike McCormick baseball card (#400) that had the rare white team lettering. I must give credit to REA for recognizing this card in my set and getting it graded. You can read the full story in my March 2020 blog. But the crux of the matter is that because it was a rare card in a PSA 8 I was the beneficiary of a bidding war between two collectors that wanted it for their 1968 registry sets. You could imagine my surprise when it sold for $6,600, including buyer’s premium. I was very lucky, no question about it.

Over the years I’ve bought a handful of PSA 8s. I’ve purchased a few affordable 1950s and 1960s commons and won auctions for a few stars in 8s. Have I ever acquired a 9 or a 10? No. I have no desire to and unless they were a common, I can’t afford to lay out that kind of cash. But the TPGs aren’t going to change their 1-10 grading systems now. Why? That’s easy to answer in one word: revenue.