What this is
PSA’s grading capacity against demand: monthly output rose from about 731,000 cards (November 2021) to 1.86m (February 2026); its 2026 backlog peaked at about 7.5 months’ work.
How it’s built
- Monthly output figures from press and vendor reports; February 2026 × 12 gives about 22.3m a year.
- Backlog: a 14m-card peak in 2026 ÷ 1.86m a month = 7.5 months, against about 17.8 months at the 2021 peak (13m ÷ 0.73m).
What we assumed
- February 2026 output is representative of a full year.It is a simple annualisation; monthly output varies.
- Backlog figures from trackers and press are taken at face value.PSA does not publish its backlog; these are the only figures available.
Sanity check
PSA paused services in March 2021 and June 2026, so grading counts understate demand in both booms.
Where it comes from
Our calculation from other figures in the trainer’s notes.
Show the working
- Feb 2026 annualised PSA (m): 22.3
- 2026 peak backlog ÷ Feb 2026 monthly output (months): 7.5
- 2021 peak ÷ Nov 2021 output (months): 17.8
- 1.86 x 12 = 22.3m
- 14/1.86 = 7.5 months
- 13/0.731 = 17.8 months
- The grader is capacity-bound in both cycles …
- $200m investment), so grading counts are a lower bound on grading demand
- Vendor/pres
Where it’s used
Related figures
Built from this one