FYI Jeff Effective February 4, 2009, PCGS Currency is no longer a division of Collectors Universe, Inc. The PCGS Currency division has been sold to a new company led by current management, including Jason W. Bradford, President, and Laura A. Kessler, Vice President. PCGS Currency will continue to operate out of their current Newport Beach location, and clients are advised that all contact information and shipping info remains the same as before. Submissions that are currently in-house will be graded and shipped as scheduled. PCGS Currency will retain its website, population report data, Currency Set Registry program, as well as manage and maintain the Currency Message Boards. “This is an exciting and important step for our company,” said Bradford, who will continue in his roles as PCGS Currency President and lead grader and finalizer. “We have passed the start-up stage of our business, and are now entering into an exciting time of growth that we feel can be managed better outside the confines of a publicly traded company. By moving our business to a private enterprise organization, we can take advantage of increased efficiencies and reduced overhead to provide better and faster service to our clients.”
I have no idea how it will effect coin collectors since they did not grade coins. As far a paper currency collectors. It all depends on your views and value of TPG's I am wondering what their revenue or profit contribution was to the bottom line at CLCT? I do not think it was significant according to the 10K's and annual reports. It sounds as if they will continure to provide the same service they did before to those that like the service. Perhaps they might change their fees structure or turn around times? I really do not know since I do not submit to them. That may be a question you should direct to Jason Bradford. Jeff
Interesting, very interesting. I can't wait to see what falls out of this and how it will affect what they do/what they charge......... Let's wait and see...... Smaugy
