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OT But Interesting-PCGS Currency firm ceases grading operations
1630Boston
Posts: 14,111 ✭✭✭✭✭
With PCGS Currency abruptly ceasing operations in January and its former president forming a new entity, Legacy Currency Grading, collectors and dealers who had submitted notes to the firm have been in limbo, awaiting word on the status of their unfulfilled submissions.
Full story here https://www.coinworld.com/news/paper-money/2019/02/pcgs-currency-contract-expires-new-entity-opens.html
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Comments
Didn't PCGS force the force them to close by starting a competing service and not renewing their license to use the PCGS Currency name ?
I crawled out of my hole and just heard about this three days ago while at a coin show. I was going to post something but decided against it. Thanks for bringing this question up.
Signed, Outside-the-loop
No. We issued our public statement on the matter both in our Currency forum here and on pcgscurrency.com when the website was released to us on Friday.
Heather Boyd
PCGS Senior Director of Marketing
50% - PCGS did not renew the license to use their copyrighted name. That has the side effect of closing the service.
ANA 50 year/Life Member (now "Emeritus")
Dang, I can't say I use the same post office as PCGS currency anymore
Collector, occasional seller
Your post office just got a lot less busy. That's a good thing.
I hope we don't end up with another CGA ! I am still trying to sell off the notes I had CGA grade for me. Heritage,Ebay and others don't recognise them so what about Legacy? Am I going to end up with graded notes that won't sell ,again ? I guess we will find out soon enough.
Received this note back January 30.
Guess I made it under the wire.
"Inspiration exists, but it has to find you working" Pablo Picasso
PCGS just announced at ANA Set Registry Luncheon that they will be grading banknotes in the US starting Q1-2019
ANA 50 year/Life Member (now "Emeritus")
Q1-2019? Did they already start? Typo?
Should read Q1 2020. They hired Bruce Thornton - highly respected in banknote grading.
Owner/Founder GreatCollections
GreatCollections Coin Auctions - Certified Coin Auctions Every Week - Rare Coins & Coin Values
Yup... fingers got ahead of brain.
Q1 2020.
Agree that if you're going to jump into a market with an established #1, you need to line up an A-team!
ANA 50 year/Life Member (now "Emeritus")
I would hope they have a non-compete agreement with PCGS on the coin side, if not could this be the begining of a new TPG service?
Fighting the Fight for 11 Years with the big "C" - Never Ever Give Up!
Member PCGS Open Forum board 2002 - 2006 (closed end of 2006) Current board since 2006 Successful trades with many members, over the past two decades, never a bad deal.
Legend Banknote Grading WAS at the ANA show - table across from the exhibit area and I did see somebody behind the desk plus lots of submission forms.
ANA 50 year/Life Member (now "Emeritus")
Do you mean "Legacy"?
I believe he meant Legacy.
I would take a look at the currency forum on this. There is data and discussion on this subject there.
Yup ... a bit tired last night ... Legacy
ANA 50 year/Life Member (now "Emeritus")