SWSH11: Lost Origin Colress's Experiment #190: PSA 9 vs PSA 10

SWSH11: Lost Origin Colress's Experiment #190 shows a modest premium between PSA 9 and PSA 10: a $15 dollar gap, with the gem mint multiplier at 1.8x. Based on the last tracked PSA 10 sale of $34.99 on Dec 21, 2025, the math leans toward holding the 9: expected value turns negative at conservative upgrade probabilities once the resub fee is in.

PSA 10

$34.99

Last sale $34.99 on Dec 21, 2025 UTC

PSA 9

$19.96

Last sale $19.96 on Mar 29, 2026 UTC

PSA 8

$5.00

Last sale $5.00 on May 15, 2026 UTC

The Spread

The PSA 9 to PSA 10 spread on Colress's Experiment #190 SWSH11: Lost Origin.

$15

Dollar gap, PSA 9 to PSA 10

1.8x

PSA 10 sells for 1.8x a PSA 9

Three-Outcome EV Calculator

PSA 9 acquisition cost ($)

PSA resub cost ($)

Probability of each outcome (must total 100%)

PSA 10 (upgrade) 15%

PSA 9 (regrade) 70%

PSA 8 (downgrade) 15%

Defaults are conservative starting points. Adjust based on the specific slab. A borderline 9 with strong centering plays differently than a 9 with edge wear.

PSA 10 outcome (sale price minus resub minus acquisition) $0

PSA 9 outcome (regrade, no upgrade) $0

PSA 8 outcome (downgrade, slower sell, tied capital) $0

Expected Value

Math favors holding the 9

SWSH11: Lost Origin #190 Colress's Experiment released in 2022 sits in the vintage WOTC tier where gem-mint premiums above $15 are common. PSA 10 populations shrink faster than supply on cards of this era, which is why the upgrade arbitrage stays alive.

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