Santa Ana police estimate that more than $963,000 in collectible trading cards was taken when someone broke the lock on a FedEx truck parked outside PSA’s headquarters in Santa Ana, California, and drove off. That figure covers only part of what was stolen.
It’s already well above the first calculations, and police are still counting.
An unattended truck and three pallets
The theft took place on October 13. The FedEx driver reportedly left the truck parked near PSA (Professional Sports Authenticator) for roughly 60 to 90 minutes. During that window, the thieves forced the lock and cleared out the packages.
Police say two pallets carrying an estimated 100 packages were taken, along with a third pallet holding around 50 packages. The first two pallets are worth around $963,000, by the police estimate.
The third pallet hasn’t been valued yet. Going by the contents of the first two, the final figure is likely to top $1 million.
“The pallets contained various trading cards, including, but not limited to, sports cards and Pokémon cards,” the Santa Ana Police Department said. “The exact value of the stolen items has not yet been determined, pending further investigation. The investigation remains ongoing. Anyone with information regarding this incident is encouraged to contact the Santa Ana Police Department.”
Collectors broke the news
In mid-October, several collectors shared emails from PSA saying a FedEx truck carrying their collections had been burglarized, and the story spread quickly online.
A collector known as SKY-B was the most vocal. He said he had hand-delivered more than $100,000 worth of cards to PSA at a card show to be graded, and all of them were now gone. He shared the relevant line from PSA’s email along with his concern about how the payout would go:
“We will compensate you for the items from your order that were involved, which is based on fair market value up to the Maximum Insured Value (“MIV”) you selected for each item.” @natsturner, I pray you handle this and take care of everyone affected in the most professional manner possible. I have an awful feeling PSA is going to be extremely unfair on what the values of these cards are.
Anyone who has mailed a card in for grading will recognize the worry. The insured value entered on a submission form can be far below what the owner believes the card is worth.
The response from PSA and FedEx
PSA said affected customers will be refunded “based on fair market value up to the Maximum Insured Value” of their cards. The company has deactivated the certificates tied to the stolen items and says it is cooperating with FedEx and law enforcement on the investigation.
FedEx said “the security of our customers’ shipments is a top priority, and we are working with local law enforcement in their investigation.”
The police statement and dollar estimate came out a day after PSA responded. In its own statement, PSA recognized that a refund doesn’t make up for everything.
“We understand the impact this has on collectors involved, many of whom see these cards as far more than a financial asset. Our team is focused on supporting them. We take this incident seriously, and we will continue working with law enforcement to hold those responsible accountable,” PSA said.