The Professional Coin Grading Service (PCGS) has expanded its popular Set Registry™ program to also include Euros amid predictions of a vibrant market for the new European coinage.
"Ever since the Euro coinage was first introduced nearly two years ago, there's been considerable interest by collectors who want to obtain the finest available specimens for their collections. The demand for high-grade Euros is increasing. By including Euros in the PCGS Set Registry, everyone now can easily keep track online of the finest known individual coins and sets," said David Hall, President of PCGS, a division of Collectors Universe (NASDAQ: CLCT).
The Euro was formally introduced on January 1, 2002 as the single European currency with eight different coin denominations: 1, 2, 5, 10, 20 and 50-cents, and 1 and 2 Euros.
Each denomination has its own, common design, but each country has its own reverse designs for the Euro coinage.
Most of the 15 countries now using the Euro already are issuing or planning to issue official mint and proof sets.
"Quality of the Euro coins varies from mint to mint. For the past year, PCGS graders have been carefully examining and evaluating Euros for strike characteristics and eye appeal, both circulation strikes and proof coins," explained Hall. "We recognize the worldwide popularity of these historic new coins and responded to requests from collectors to include Euros in the Set Registry program."
Euro collector and dealer, J.P. Szymkowicz of Washington, DC was among those who encouraged PCGS to add Euros to the Set Registry service.
"I believe that the 15 countries that have formally adopted the Euro as their currency have opened up a new world of collecting options. For example, you could collect 2 Euro denomination coins from each of the participating countries, or focus on collecting the eight circulating Euro coins from just one country. As other countries join the Euro, collecting options and possibilities increase," he said.
"While United States mint and proof sets are issued in the hundreds of thousands, production of official Euro sets are more limited; for example, only 3,500 for the 2001 Monaco proof set. Worldwide demand for these coins creates price pressure on the secondary market. With the PCGS Set Registry expanding into Euro coins, I predict that the market for certified Euro coins will increase exponentially," stated Szymkowicz.
The PCGS Set Registry was launched on the PCGS web site (www.pcgs.com) in February, 2001 as an online forum for collectors to list and build their collections. The interactive Registry ranks sets in order of grade point average, completion, and overall rating. Collectors enjoy "friendly competition" for the top spots, and there now are more than 8,500 sets registered encompassing every major U.S. coin series.
For additional information, contact Professional Coin Grading Service at P.O. Box 9458, Newport Beach, CA 92658. Phone: (800) 447-8848 or ((949) 833-0600. E-mail: info@pcgs.com.
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