The Evolution of Collectibles: From Junk Wax to Junk Slabs
, by David Riska, 4 min reading time
The collectibles market has seen its fair share of booms and busts, with each era bringing its own unique challenges and phenomena. One such comparison that draws interesting parallels and contrasts is between the "Junk Wax" era of sports cards in the 1980s and 1990s and today's "Junk Slab" era in the trading card market. A discussion on the Elite Fourum provides a deep dive into what collectors today consider a "Junk Slab," shedding light on the current state of the market and how it echoes the past.
Defining Junk Slabs
The term "Junk Slab" refers to graded trading cards that are considered to have little to no additional value despite being encased in a protective slab by grading companies. These can include cards that are in abundance at a higher grade, niche cards with low rarity and desirability, or any card that sells at or below the cost of grading. For example, a Champions Path Charizard in PSA 9 is considered a junk slab due to the massive abundance of PSA 9s and even more so of PSA 10s. Similarly, any grade below a 10 for many common, uncommon, rare, or holo cards is likely to be deemed a junk slab, as collectors targeting these cards typically aim for the highest grade possible due to its attainability.
Junk Wax Era: A Brief Overview
The Junk Wax era refers to a time when sports cards were massively overproduced, leading to a significant devaluation of cards from that period. Manufacturers produced cards in such high quantities that the market became saturated, leaving many of these cards worth little more than the paper they were printed on. This era left a lasting impact on the collectibles market, teaching collectors and investors about the dangers of overproduction and the importance of scarcity in value.
Parallels and Contrasts
Overproduction: Both eras are marked by an overabundance of product. In the Junk Wax era, it was the physical cards themselves; in the Junk Slab era, it's the overabundance of graded cards, many of which do not enhance the value of the card due to their commonality or low grade.
Market Correction: Each era saw a market correction as collectors and investors adjusted their perceptions of value. The Junk Wax era led to a greater appreciation for rarity and vintage cards, while the Junk Slab era is leading to a more discerning approach to grading, with collectors questioning the value of grading common or easily obtainable cards.
Collector Behavior: The behavior of collectors has shifted from hoarding massive quantities of physical cards to selectively grading cards in hopes of adding value or protecting their condition. This shift reflects a more sophisticated approach to collecting, albeit one that still risks overvaluation of certain items.
The discussion on what constitutes a "Junk Slab" reflects broader trends in the collectibles market, highlighting how history often repeats itself, albeit in slightly different forms. Just as the Junk Wax era taught collectors about the pitfalls of overproduction, the Junk Slab era serves as a cautionary tale about the limits of grading as a value-add for collectibles. As the market continues to evolve, collectors and investors alike would do well to remember these lessons, focusing on genuine rarity, condition, and desirability as the true drivers of value.
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