Research Note
How to read PSA population alongside One Piece card prices
Research and data: OP Box Index · Published · Updated · Data sources & methodology
PSA population reports show how many copies of a card have been graded and at what grade. For One Piece chase cards, two numbers matter most: total population (how many copies exist in PSA holders) and gem rate (the share that graded PSA 10).
What population and gem rate mean
- Total population — the count of all graded copies across every grade, a rough proxy for how many collectors bothered to submit the card.
- Gem rate — PSA 10 count divided by total population among submitted cards. It is not a pull rate or a count of all printed copies.
- A low population and lower gem rate can limit current PSA 10 supply, but demand, card selection and completed sales still determine price.
Why population can affect market depth
- Fewer graded copies can mean fewer active sellers, but a low count can also reflect weak submission demand.
- Gem rate describes the submitted sample; collectors often screen condition before paying a grading fee.
- Strong character demand combined with limited completed sales can widen the price range for a PSA 10.
What can change population-driven prices
- Population grows over time as more collectors submit copies, which can soften scarcity-driven prices.
- Print-run differences between early and later reprints can shift gem rate for the same card number.
- A spike in submissions after a card gains attention can temporarily distort short-term population trends.
Every tracked set: population and gem rate
These are the numbers we track weekly, not estimates. Total population is every PSA-graded copy from that set in the report; gem rate is the share that came back PSA 10. A large population with a high gem rate confirms that many PSA 10s exist, but it does not establish liquidity or price by itself.
| Set | Total graded | Gem rate |
|---|---|---|
| OP-05 Awakening of the New Era | 69,711 | 88.9% |
| OP-09 Emperors in the New World | 66,208 | 89.7% |
| OP-01 Romance Dawn | 56,316 | 90.2% |
| OP-13 Carrying on His Will | 42,471 | 85.4% |
| PRB-01 Premium Booster | 42,136 | 87.2% |
| OP-06 Wings of the Captain | 34,601 | 94.0% |
| OP-07 500 Years in the Future | 33,859 | 92.7% |
| OP-04 Kingdoms of Intrigue | 30,778 | 91.3% |
| OP-02 Paramount War | 27,800 | 90.0% |
| OP-11 A Fist of Divine Speed | 27,395 | 83.2% |
| OP-03 Pillars of Strength | 24,188 | 88.1% |
| OP-08 Two Legends | 22,334 | 92.7% |
| EB-03 Heroine's Edition | 19,196 | 87.1% |
| PRB-02 Premium Booster | 17,401 | 87.6% |
| OP-10 Royal Blood | 13,932 | 88.4% |
| OP-14 The Azure Sea's Seven | 13,279 | 86.4% |
| OP-12 Legacy of the Master | 13,087 | 86.1% |
| EB-01 Memorial Collection | 11,934 | 93.2% |
| EB-02 Anime 25th Collection | 9,709 | 89.1% |
| OP-15 Adventure on Kami's Island | 6,366 | 93.3% |
| OP-16 The Time of Battle | 729 | 91.4% |
What the spread actually tells you
The gem-rate range across sets is 83.2% (OP-11) to 94.0% (OP-06). In this submitted sample, roughly one in six OP-11 cards missed PSA 10 while OP-06 recorded a PSA 10 on 94% of submissions. The comparison does not isolate print quality because each set has a different card mix, submission strategy and sample size.
Population size adds supply context. OP-05 has 69,711 recorded grades, over 95× OP-16's 729. A high count can reflect strong collecting demand, greater submission volume, more time in market or all three. It is not proof of how many boxes were opened, and it does not guarantee that graded copies trade frequently.
Our PSA 10 vs NM study found a median PSA 10 multiple near 1.5× raw NM for its matched sample. Population and gem rate help explain available slab supply, but character demand, sale frequency and exact variant matching remain necessary before attributing a price difference to condition scarcity.
One caveat we apply to our own numbers: population only ever goes up, and the sets released most recently (OP-15, OP-16) will see their totals climb and their gem rates drift as submission volume normalises. Treat a very new set's gem rate as provisional until its population passes a few thousand.
How to use this on OP Box Index
Every set guide lists each chase card's PSA 10 sold data and the set's overall gem rate, alongside the lowest verified active eBay listing. Compare population signals across sets on the set guides page or check live numbers on the price tracker before treating any card as a safe hold.
See also: what actually moves sealed box prices.