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<p>[QUOTE=&quot;Leadfoot, post: 754077, member: 2972&quot;]Last quarter PCGS revenues were $9.3M. Assuming 2009 payouts against the guarantee were evenly spread, this means approximately $125k was paid out in that quarter. That&#039;s a bit more than 1% of revenues. Given CLCT gross margins for that quarter were 60%, that means around 2% of gross profits go toward the payout last year for all coins. Presumably copper coins was some fraction of this, so the real impact of this decision is something less.</p><p><br /></p><p><br /></p><p>Less than 1% of revenues, and less than 2% of profits is not a big deal, IMO, but clearly PCGS disagrees -- and its collectors of RD and RB copper who are paying the price....Mike</p><p><br /></p><p>p.s. Source:&nbsp; <a href="http://www.coinlink.com/News/press-releases/collectors-universe-reports-financial-results-and-resumes-dividend/" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://www.coinlink.com/News/press-releases/collectors-universe-reports-financial-results-and-resumes-dividend/" rel="nofollow">http://www.coinlink.com/News/press-releases/collectors-universe-reports-financial-results-and-resumes-dividend/</a>[/QUOTE]</p><p><br /></p>

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