Question 1

What is the Hat Price Index (HPI)?

Accepted Answer

HPI is a weekly benchmark tracking the market price of PSA 10 graded copies of the Pikachu with Grey Felt Hat (Van Gogh promotional, SVP EN 085). It is the world's first single-asset cultural index, with a base value of 100 anchored to USD 2,000 in October 2023.

Question 2

Which card does HPI track?

Accepted Answer

HPI tracks the Pikachu with Grey Felt Hat — a Pokémon promotional card issued for the Van Gogh Museum collaboration (SVP EN 085). Only copies graded PSA 10 GEM MINT are included in the index.

Question 3

Why do we need an index for a trading card at all?

Accepted Answer

A list of trading history tells you what happened; an index tells you where the market is. Without a benchmark, you can't meaningfully say the market is up or down, compare week to week, or reason about sentiment. HPI distils the PSA 10 Van Gogh Pikachu market into one consistent number — the same way equities have the S&P 500 instead of reading every print.

Question 4

Why does HPI only track PSA 10 copies?

Accepted Answer

Raw and lower-graded copies trade at significantly different prices with much higher variance. Limiting the index to PSA 10 GEM MINT keeps the benchmark consistent and institution-grade.

Question 5

How is HPI calculated?

Accepted Answer

Each week, Grade10 Research collects qualifying PSA 10 sales from major marketplaces, applies an interquartile trimmed mean to remove outliers, divides the result by the USD 2,000 base price, and multiplies by 100.

Question 6

How often is HPI updated?

Accepted Answer

HPI is published weekly. The Weekly Tape shows each week's index value, trimmed-mean price, and qualifying sale count.

Question 7

Where does HPI get its sales data?

Accepted Answer

Sources include Alt.xyz, eBay, SNKRDUNK, Fanatics Collect, and Goldin. Only completed PSA 10 sales are counted.

Question 8

Can't I just check recent sales on eBay?

Accepted Answer

eBay shows you individual sale prices, but it is noisy: grades are mixed, auction timing skews results, and not every listing is a genuine closed sale. HPI restricts to PSA 10 GEM MINT, applies a weekly interquartile trimmed mean to remove outliers, and produces a single number that is comparable week over week.

Question 9

Alt.xyz and PriceCharting already show price charts — why do I need HPI?

Accepted Answer

Alt.xyz and PriceCharting plot raw transaction prices. HPI converts those prints into a benchmarked index — trimmed for outliers, anchored to a base value (100 = USD 2,000 in October 2023), and overlaid with a 12-week sentiment score (Hot, Neutral, Cooling). A chart shows prices; an index gives them context.

Question 10

Can't I see the same information on the PSA website?

Accepted Answer

PSA publishes population data and price histories sourced from marketplace listings, but it does not produce an index, does not filter outliers, and does not score sentiment. HPI uses PSA population as an input but outputs a different, benchmarked signal built specifically for this single card.

Question 11

How is HPI different from CardLadder?

Accepted Answer

CardLadder publishes basket indices that blend many cards and sets together to express a segment. HPI is the opposite approach: a single-asset index anchored to one iconic card, with its own methodology, sentiment score, and base value. If you want the shape of the modern-Pokémon market, use a basket; if you want one benchmarked number for the Van Gogh Pikachu, use HPI.

Question 12

What about 130point — does it replace HPI?

Accepted Answer

130point is a sales-lookup tool that surfaces recent eBay comps. It is great for spot-checking a specific listing, but it is not an index: no base value, no trimmed mean, no weekly cadence, no sentiment. HPI is designed for the time-series question ("where is this market going?"), not the comp-check question ("what did the last one sell for?").

Question 13

Is there an equivalent index on SNKRDUNK or other Asian marketplaces?

Accepted Answer

SNKRDUNK and similar Asian marketplaces list cards and surface individual trade prices, but none publishes a time-series index for the PSA 10 Van Gogh Pikachu. HPI is built from global PSA 10 sales — including Asian venues where applicable — so collectors in Asia can reason about one consistent benchmark rather than stitching together marketplace quotes.

Question 14

Who publishes HPI?

Accepted Answer

HPI is a collaboration between MemeStrategy (HKEX:2440) and Grade10 Research. Grade10 operates the data pipeline, methodology, and authentication; MemeStrategy provides the public-market framing and institutional transparency.

Question 15

Is HPI financial advice?

Accepted Answer

No. HPI is research only. Past performance does not imply future results. The card is a collectible, not a security.

All-Time High	160.2USD 3,205 · Week of May 4, 2026
All-Time Low	9.9USD 198 · Week of Apr 29, 2024
52-Wk High	160.2
52-Wk Low	42.6
Since Inception	+90.2%

Launch Date	Apr 2026
Base Date	Oct 2023
Base Value	100.00
Currency	USD
Grade	PSA 10 GEM MT
Frequency	Weekly
Calculation	Trimmed Mean
Components	1
Type	Cultural Asset
Publisher	Grade10
Last Calculated	2026-06-08

PSA 10 population	48,748
PSA total population	111,953
PSA 10 rate	43.5%


Jun 1 – 7, 2026	157.0	USD 3,139	61
May 25 – 31, 2026	152.6	USD 3,053	80
May 18 – 24, 2026	156.6	USD 3,131	95
May 11 – 17, 2026	156.5	USD 3,130	56
May 4 – 10, 2026	160.2	USD 3,205	91
Apr 27 – May 3, 2026	158.6	USD 3,172	88
Apr 20 – 26, 2026	157.1	USD 3,142	84
Apr 13 – 19, 2026	152.0	USD 3,039	143
Apr 6 – 12, 2026	140.7	USD 2,814	145
Mar 30 – Apr 5, 2026	127.9	USD 2,559	85

Hat Price Index (HPI)

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