Collectors send their cards to authenticators for one reason: to find out what they’re worth, and usually to make them worth more. A card that comes back graded from an authenticator often comes sealed in plastic with a high grade can sell for many times what it did raw.
This month, a batch of them got the news they’d been waiting for. Their grades were in, some of them perfect 10s, and the cards were on their way home via delivery. But suddenly, the tracking stopped updating.
On Oct. 13, thieves broke into a FedEx truck outside Professional Sports Authenticator’s (PSA) office in Santa Ana, Calif., and drove off with nearly $1 million in Pokémon and sports cards. The collectors who owned them had spent months and thousands of dollars in fees proving what the cards were worth—all for thieves to take two pallets of the cards and make off with the rare collectors’ items.
“The Santa Ana Police Department is actively investigating a theft that occurred on October 13, 2026, at 1610 E. St. Andrew Place,” the department said in a statement to Fortune. An officer responded to PSA, and police said about two pallets of cards were stolen from the truck and a third was disturbed.
“The estimated value of the stolen cards at the time of the incident was $963,000. However, the exact value of the stolen items has not yet been determined,” the department said, referring to PSA’s insurance payout, which is capped at what each collector guessed before PSA graded the cards.
An increasing asset
No arrests have been made, and the cards have not been recovered. And for the thieves, the timing was good. Pokémon cards have risen 3,261% in value over 20 years, more than any other card category. Demand once ran so hot the Pokémon Company doubled its print run to cool speculation.
One of the collectors hit is a YouTuber with 148,000 subscribers who posts as SKY-B Cards. His channel usually shows his hands opening packs of cards. On Oct. 19, he showed his face and walked viewersthrough what he’d lost. The video has more than 72,000 views.
“These were 104 cards that I’ve accumulated over two years,” he said. “There are many irreplaceable cards in here that I will never see again.”
He said he handed them to PSA at its booth at the National Card Show in late July, which is about as careful as a collector can be. Grading finished in October, 20 days ahead of schedule, and PSA shipped the cards back on Oct. 13 with next-day delivery. By Friday, they still hadn’t arrived, and the tracking had stopped updating. He called PSA, which told him not to worry and to fill out a lost-item form.
The next day, PSA emailed to say a FedEx vehicle carrying its orders had been burglarized “after leaving our PSA facility in Southern California.” The company said it had deactivated the certificates on the stolen cards and warned selling platforms to watch for them. It also said it would pay him “based on fair market value up to the maximum insured value you selected for each card.”
The YouTuber said he selected that value in July, before anyone had graded anything. Every card in his order was insured at up to $1,500, and the whole order at up to $156,000, and added he paid more than $8,000 in grading fees.
When PSA grades a card and decides it’s worth more than its declared value, it usually charges the customer extra. SKY-B said PSA’s estimates put several of his cards above $1,500, including a Tyrese Maxey valued just under $2,000.
“Our customer service team has contacted affected customers directly and is arranging compensation based on fair market value,” a PSA spokesperson told Fortune. “We understand the impact this has on collectors involved, many of whom see these cards as far more than a financial asset.” A PSA spokesman told NBC Los Angeles the company would also return grading fees, which SKY-B didn’t mention.
His order included several one-of-one cards, printed in a single copy and serial-numbered to prove it, along with a Barry Sanders autograph numbered three of five and a LeBron James card that was cut wrong at the factory. Collectors often pay more for that kind of mistake.
He also had a question for whoever took them: “If you’re watching and you’re the guy that stole these cards, what are you going to do with them, man?”
PSA’s email said the company would review its procedures and look at “enhancements or education for shipping partners.”
“The security of our customers’ shipments is a top priority, and we are working with local law enforcement in their investigation,” FedEx said in a statement to Fortune. “Further questions should be referred to local investigators.”
“Anyone with information regarding this incident is encouraged to contact the SAPD,” police said.
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