As of April 2026, Fanatics (through Topps) holds exclusive licensing rights for NFL, NBA, and MLB trading cards. Panini, which dominated the market for over a decade with Prizm, National Treasures, Immaculate, Select, and Donruss, now produces only NBPA-licensed products — real player images, but no team logos or branding. This creates winners and losers in the collectibles market that directly impact pawn loan values.

What Changed and When

  • October 2025: Topps/Fanatics launched first NBA-licensed basketball cards — ending Panini's NBA exclusivity
  • April 2026: Fanatics/Topps took over NFL card license; Panini's NFL exclusivity ended
  • Panini status: Still produces NBPA/NFLPA-licensed products (player rights only) without team marks; reception mixed but demand remains from brand loyalists
  • MLB: Topps/Fanatics has held the MLB license since 2022; the Fanatics transition is complete there

How This Affects Pawn Loan Collateral Values

Panini Cards (Pre-2026 Licensed Products) — Strong to Stronger

The Upper Deck precedent (lost MLB license in 2010) is instructive: UD's last officially licensed baseball cards became more valuable because they were the last of their kind. Panini's last licensed products are showing similar dynamics:

  • Last Panini Prizm NBA products (2024-25 season): Already commanding 20–40% premiums over pre-announcement prices on key rookies
  • Panini National Treasures NFL/NBA (final licensed years): Prices rising as collectors recognize historical significance
  • Panini Prizm parallels from 2020–2024: Institutional-grade cards — no degradation in value; if anything, the "last generation" narrative adds scarcity premium

Panini Unlicensed 2025-26 Products — Discounted but Tradeable

Cards without team logos/names from recent Panini NBPA/NFLPA releases trade at approximately 30–50% below equivalent grades from licensed years. CardPawn accepts these cards but applies a 10–15% LTV reduction versus their licensed equivalents.

Fanatics/Topps New Products — Early Evaluation

The first Topps/Fanatics NBA licensed set (2025-26 season) has received mixed collector reception. Early PSA population data suggests:

  • Print runs are similar to comparable Panini products
  • Design quality has improved from initial Fanatics releases
  • Key rookies from the 2025-26 class in Topps Chrome NBA are trading near Panini Prizm equivalent prices
  • Topps Chrome NBA PSA 10 premiums are establishing — CardPawn accepts them at standard LTV

CardPawn's Position on the Transition

We accept all major licensed products regardless of manufacturer. Panini licensed cards (up to and including 2024-25 final products) receive full standard LTV. Panini unlicensed 2025-26 products receive 10-15% reduced LTV. Fanatics/Topps licensed products for NFL, NBA, and MLB are accepted at standard LTV from 2025-26 season forward. If you have questions about a specific set's eligibility, email loans@cardpawn.ca.

Action Plan for Collectors

  • Hold your Panini licensed cards: The "last of its kind" premium is real. Do not sell into weakness — pawn instead if you need liquidity
  • Watch Topps/Fanatics NBA carefully: First-year licensed products from Fanatics are now establishing secondary market history — loan values are firming
  • Avoid Panini unlicensed for pawn purposes: Lower LTV means less borrowing power per dollar of card value