Topps to allow old redemptions to be exchanged for new product

Company will debut new extension program at the National in Cleveland

Cover Image for Topps to allow old redemptions to be exchanged for new product
Topps has placed a priority on eliminating redemptions. (Credit: Topps)

Topps will debut a new exchange program at the 2024 National Sports Collectors Convention later this month in Cleveland, allowing collectors to exchange old redemptions for new product.

The exchange program is limited to redemptions which have been open for more than 100 days and will be traded for Topps Exchange Boxes, which will include one autograph card each from an expired redemption for which not all the cards were redeemed.

Every $100 in open redemption credits will be eligible for exchange for one Topps Exchange Box. Redemptions can be combined to meet the $100 threshold, as long as all redemptions have been open for 100 days or more.

Michael Rubin, CEO of Fanatics, which acquired Topps in 2022, has made it clear eliminating redemptions is one of his top priorities.

“I heard from so many customers about redemptions,” Rubin told Colin Cowherd in a 2022 interview. “We hate when we get a redemption. You buy a box of cards and you get a redemption because it was too difficult to get the autograph on the card when they made it. So, I think the industry works that way.

“We are looking to say, ‘that is not acceptable.’ So many collectors hate it. We’re saying, ‘how do we eliminate it?’ The mentality is, we need to do better.”

So far, Topps has made good on its effort to cut down on its owed redemptions. Last year, the company had 70,000 outstanding redemptions. That number has been whittled down to around 10,000 this year.

There is a limit of 10 boxes per collector. Each box has an estimated value of $50 to $7,500+, according to Topps.

In order to arrange the trade-in, collectors must schedule time to meet with a Topps representative at the National.

“The values of redemptions will be mutually agreed upon by the collector and Topps,” the company wrote on its website. “If a mutual agreement is not reached, the collector can choose to wait for their redemption to be fulfilled or request a substitution through via the collector's account.”

Other companies, such as Panini, have offered similar services in the past, as well as this upcoming year. For 2024, Panini is offering trade-ins for non-expired redemptions open for a minimum of 120 days.