While graded baseball cards have grown in popularity over the past two decades, there remains a large market and demand for ungraded cards as well. Ungraded cards simply refer to baseball cards that have not received an official numeric grade from a professional third-party grading service such as PSA, BGS, SGC, or HGA. There are a number of benefits to buying and selling ungraded cards versus their encapsulated and slabbed counterparts.
For collectors and investors just getting into the hobby, searching for and acquiring ungraded cards provides a more affordable entry point compared to pricier graded cards. Without the added protection and perceived authenticity of a third-party holder, ungraded cards can often be found for a fraction of the cost of similarly conditioned cards that are encapsulated and rubber stamped with a grade. This allows newcomers the opportunity to build a larger overall collection without breaking the bank.
Veteran collectors also enjoy perusing ungraded cards for finding hidden gems and undervalued pieces for their collections. Since there is no uniform recognized numeric grade established, raw cards that may grade well can sometimes be had for prices far below similar items already graded by the major authenticators. Savvy collectors relish the challenge of discerning a card’s true condition and Grade. Finding that overlooked near-mint or better card priced as if it were well-worn provides the thrill of the hunt.
For sellers as well, ungraded cards maintain a more fluid market with less restrictions than the more rigid world of modern graded cards. Without needing to factor in the time and cost associated with the grading process, sellers of raw cards enjoy greater liquidity and ability to move product quickly. Buyers also have the option to personally inspect cards up close rather than relying solely on the perceptions associated with a particular grade. This can be beneficial on both sides of a transaction.
There are also strategic advantages to keeping prized cards in ungraded raw form. Cards that are potential nine’s or tens are better left raw since resubmitting to improve a grade is cost prohibitive once sealed in a third-party holder. Savvy collectors self-grade their best material and wait to potentially achieve that elusive black label perfect grade down the road when resubmitting. Leaving top-tier vintage in raw pristine condition also preserves optionality, as grading standards and populations can evolve over time. Plus, raw gem mint cards maintain their “virgin” status and may command a premium from certain collectors who prefer cards in their original unaltered state.
By Transacting in the ungraded market, collectors also avoid the authenticity question that sometimes arises when examining vintage graded cards manufactured prior to the mid-1990s advent of anti-counterfeiting measures like holograms and sequential numbering. While major authenticators take strides to root out frauds, ungraded vintage from the ‘50s, ‘60s, and ‘70s avoid any concern – justified or not. For high-value pre-war and early postwar issues, some connoisseurs prefer evaluating condition and provenance themselves without relying on a holder.
There are also certain downsides to consider when dealing in ungraded cards versus their encapsulated brethren. Raw cards require buyers to carefully assess condition factors like centering, edges, and surface without the validation of an expert numeric ranking. This requires experience and practiced eyes. Novice collectors run the risk of overpaying for cards that may grade less than expected if sent for professional authentication and certification down the line. On the resale side, valuation and pricing ungraded cards presents additional variables versus looking up recent average sales of comparable graded pieces.
There is also inherently more risk involved when transacting in raw cards since authenticity and condition cannot be easily verified via the tamper-proof cases employed by the major grading services. While most transactions occur between honest collectors and dealers operating in good faith, fraud and counterfeits unfortunately exist – meaning added diligence is required when evaluating vintage ungraded material. Issues like restoration, trimming, and fakes are less obvious without the official guarantee inherent to modern grading standards. Reputable full-time card experts and authenticators remain available for expert opinions and verification services to help mitigate risks when desirable.
While the modern baseball collecting market continues shifting towards the graded card model, there remains a healthy multi-billion dollar marketplace for engaging in the timeless thrill of the hunt by searching for overlooked gems amongst the plentiful supply of ungraded cardboard from baseball’s hallowed history still housed in private collections worldwide. Both raw and graded cards have their respective benefits depending on objectives and risk tolerance. With care, knowledge and an experienced eye, fortunes can still be found exploring the middle ground between the rigid world of encapsulated cards and the wild west of unauthenticated vintage.
