What initially appeared to be a six-figure trading card theft has escalated into a nearly $1 million criminal investigation involving Professional Sports Authenticator (PSA).
The Santa Ana Police Department has revealed that thieves stole hundreds of packages containing graded sports cards, Pokémon cards and other collectibles from a FedEx truck parked near PSA’s California headquarters on October 13.
According to an October 19 report from Benjamin Burrows of The Athletic, PSA placed the estimated value of two stolen pallets at $963,000. Approximately 50 additional packages were taken from a third pallet, meaning the final loss could exceed that figure.
And police have now disclosed new details about how the massive theft unfolded.
Police Reveal Details of $963,000 PSA Trading Card Theft
According to The Athletic, the FedEx vehicle was parked near PSA’s shipping and receiving location at 1610 E. St. Andrew Place in Santa Ana, California, when the theft occurred.
The driver reportedly left the vehicle for between 60 and 90 minutes. During that window, someone broke the truck’s lock and removed packages containing graded trading cards that were supposed to be returned to their owners.
Police reported that two pallets, each holding approximately 100 packages, were stolen. Another estimated 50 packages were removed from a third pallet.
That puts the estimated number of stolen packages at approximately 250, although authorities have not established how many individual cards were inside them.
The $963,000 estimate also remains preliminary. PSA was still determining which packages were missing from the third pallet, according to The Athletic.
The Santa Ana Police Department confirmed that the stolen merchandise included sports cards and Pokémon cards, among other collectibles.
CBS Los Angeles separately reported on October 19 that no arrests or recoveries had been announced.
The investigation raises questions about how such a valuable shipment was transported and secured. Authorities have not publicly established whether the theft was specifically targeted or whether the suspects knew what the truck contained.
PSA Confirms Response to Massive Trading Card Theft
In a statement provided directly to Heavy on October 19, a PSA spokesperson confirmed the theft and said the company was cooperating with authorities.
“We are aware of a theft involving a third-party shipping vehicle carrying PSA-graded items. We are working closely with law enforcement and the carrier as the investigation continues,” the spokesperson said.
PSA also confirmed it was taking steps to prevent the stolen merchandise from circulating through established trading card marketplaces.
“We have deactivated the certificates for the stolen items and notified marketplace partners so they can be on the lookout for rare and serialized items. Our customer service team has contacted affected customers directly and is arranging compensation based on fair market value.”
Deactivating certification numbers creates an additional obstacle for anyone attempting to sell the stolen cards in their original PSA holders.
However, that protection has limitations. Removing a card from its holder would separate it from the affected certification label, potentially complicating efforts to identify stolen merchandise that is not individually serialized.
FedEx also acknowledged the investigation in a statement provided to CBS Los Angeles, saying the company was cooperating with law enforcement.
Darren Rovell Calls for Security Changes After PSA Card Theft
CllctMedia Founder and collectibles industry commentator Darren Rovell weighed in on the theft, arguing that the incident highlights vulnerabilities beyond PSA’s direct control.
“Completely understand the fire PSA is under for the FedEx truck theft,” Rovell wrote on X. “But the biggest threats don’t lie with PSA.”
But the biggest threats don’t lie with PSA.
They lie with inside jobs and third party carriers.
The biggest threat of your cards going missing happens when you insure a package for $50K and leave the
Instead, Rovell pointed to the risks associated with third-party shipping companies and the potential for inside jobs.
He argued that packages carrying expensive collectibles can become targets when their declared insurance values or shipping labels reveal their potential contents.
“The simple name PSA or Collectors in the address box is the threat,” Rovell wrote.
The comments introduce another dimension to the investigation. Police have not established whether the burglary was an inside job or whether those responsible knew the value of the stolen shipments beforehand.
Nevertheless, the circumstances have prompted calls for stronger shipping protections.
“There must be a change and it must be today,” Rovell wrote, urging PSA and its preferred shipping partners to improve security and insurance options for valuable collectibles.
The concerns extend beyond this particular theft. With cards changing hands for thousands or even millions of dollars, transporting graded collectibles safely has become an increasingly consequential part of the industry.
PSA Customers Face Six-Figure Losses After FedEx Theft
The scale of the theft first began attracting attention over the weekend, when collectors shared notifications that their graded cards had disappeared.
Among them was trading card content creator SKY-B, who reported losing a 104-card submission that took approximately two years to assemble.
According to The Athletic, the collector paid $8,468 in grading fees and insured the submission for as much as $156,000.
The loss illustrates one of the complications facing affected customers: A graded card’s market value can differ substantially from its value before authentication.
PSA has said compensation will be based on fair market value, subject to the Maximum Insured Value selected for each item. This likely implies that a card that was insured at a lower value than it’s post-card grading value will not be covered. Heavy asked PSA to clarify this detail, but has not heard back yet.
That means the amount a collector ultimately receives may depend on both the card’s established market value and the coverage limit associated with the submission.
For rare, low-population or personally significant cards, even a full financial reimbursement may not provide an equivalent replacement.
PSA acknowledged that concern in its statement to Heavy.
“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.”
With the total number of stolen cards still unknown and the investigation ongoing, the reported $963,000 loss represents a preliminary accounting rather than a final estimate of the damage.
And for the collectors whose submissions disappeared, the immediate question is no longer simply what happened to their cards. It’s whether the cards can be recovered and what compensation will actually cover.
Police Reveal Stunning Details of Nearly $1 Million PSA Trading Card Theft