January 5, 2012
(Santa Ana, California) - In a major expansion of its international services and activities, the Professional Coin Grading Service (PCGS) division of Collectors Universe, Inc. (NASDAQ: CLCT) has established a Hong Kong-based authentication and grading operation. The new Asia venture will be known as Collectors Universe (Hong Kong) Ltd.
In May 2010, PCGS successfully opened an office in Paris, France as part of the company's increasing international services, and since then PCGS-certified coins have repeatedly brought higher-than-estimated prices at public auctions in Europe.
"Coin collecting is alive and well around the world. At our California headquarters, PCGS has received many submissions over the years from dealers and collectors from China and the surrounding area. We are pleased to establish a presence in Asia which will allow us to better serve this important market," said David Hall, President of Collectors Universe and Co-Founder of PCGS.
The ability of PCGS to authenticate and grade coins in Hong Kong will eliminate the time-consuming customs issues inherent in sending coins to the United States to be authenticated and graded.
PCGS officials say there's increasing acceptance and need in Asia for impartial, independent certification of rare coins to provide reliable protection against counterfeiting and provide confidence and security for collectors and dealers when they buy or sell.
"World coin grading has become an important part of PCGS' business. As collectors around the world understand the benefits of third-party grading, more and more of them are seeking it out and insisting on it before they purchase a rare coin. It is only natural that they come to the most respected worldwide certification service, PCGS, for authentication and grading. Having operations in both Hong Kong and Paris will help PCGS provide even better service for the collecting communities around the world," said Donald E. Willis, Jr., PCGS President.
During the past several years, Muriel Eymery, PCGS Vice President and Director of International Business Development, has met with numerous leaders in the Asian coin market. "We have been working with many dealers and collectors from China as well as Japan, Korea, Hong Kong, Singapore and surrounding countries. We have been planning this expansion in Asia for months and decided Hong Kong is the right place to begin," said Eymery.
"The first public appearance of Collectors Universe (Hong Kong) Ltd will be at the Hong Kong Coin Convention and Antique Watch Fair, April 6-8, 2012. PCGS will provide onsite authentication and grading at the show as well as during pre-show activities and auctions. We look forward to seeing many of our customers and making new friends there."
PCGS announced its expansion into Hong Kong during a presentation at the Florida United Numismatists convention in Orlando, Florida on January 6, 2012.
Specific information about submitting coins to the Hong Kong office and in conjunction with the Hong Kong coin convention in the spring will be announced later this month. Information also will be available in English, traditional Chinese, Japanese and Korean online at www.PCGSglobal.com and by email at [email protected], or by calling the phone number in Hong Kong +852-39606570.
Since its founding in 1986, Professional Coin Grading Service experts have certified over 23 million coins with a total market value of over $26 billion. PCGS represents the industry standard in third-party certification.