Collectors Universe Inc., CLCT, -0.19% the Newport Beach, Calif., company that authenticates and grades collectibles and gems, said Chief Executive Michael Haynes was forced to sell company stock. The "recent turmoil in the financial markets -- combined with" Haynes's inability "to quickly access assets -- triggered the need to sell Collectors Universe stock related to collateralized loans" of his, the company said in a statement late on Thursday. "These sales were involuntary and related to personal planning objectives and the current extraordinary circumstances in the financial markets that triggered the need to sell company stock," Haynes said in the statement. "This event is in no way a reflection of my perception of the company." The statement didn't specify how much stock the executive sold.
Don't you just love "finance speak".
That looks like a very old quote.
Yes, sorry, this is very old. I was looking at CLCT and the recent price movement on a market news wire & they had this article up at top. Didn't look at the date. Nothing to do with the recent sale.
@jmlanzaf said:
ANACS used to be quite close to NGC and PCGS in pricing in the early days of slabbing. Now they are >at more like 30-40% of PCGS pricing. And PCI..
I have several US gold coins in ANACS slabs that are properly graded. Please tell me where I can buy some more for 30% of PCGS pricing. Thank you.
I'm largely referring to the sight unseen price. It is a market reality that PCGS/CAC coins tend to bring more than PCGS coins which tend to bring more than NGC with ANACS way behind. Sure, you can find an exceptional coin in an Accugrade holder and pay a premium to purchase it.
If you really think ANACS or PCI slabs bring the same money as PCGS, you should have ANACS or PCI do all of your encapsulating as they are more inexpensive, by far.
@jmlanzaf said:
ANACS used to be quite close to NGC and PCGS in pricing in the early days of slabbing. Now they are >at more like 30-40% of PCGS pricing. And PCI..
I have several US gold coins in ANACS slabs that are properly graded. Please tell me where I can buy some more for 30% of PCGS pricing. Thank you.
He didn't say that all ANACS coins trade at such discounts and I've seen quite a few that have. Not surprisingly, some types/grades are more likely than others to do so.
I thought he was referring to the cost of slabbing the coins, not the market price. I am fairly certain that ANACS is less expensive at slabbing than PCGS and NGC.
Based on his follow-up reply, he was talking about the cost of graded coins, not the cost of grading.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
I don’t value those two cents at all in fact I think it is generous to have it even worth two cents. Heather et al have done a fine job and gave multiple warnings. I have been in jail myself. Those that got the ban hammer earned it and had to work for it. Do I miss the knowledge base of someone like DIMEMAN, sure I do. They chose to die on the hill and it had nothing to do with coins.
100% positive transactions with SurfinxHI, bigole, 1madman, collectorcoins, proofmorgan, Luke Marshall, silver pop, golden egg, point five zero,coin22lover, alohagary, blaircountycoin,joebb21
@jmlanzaf said:
ANACS used to be quite close to NGC and PCGS in pricing in the early days of slabbing. Now they are >at more like 30-40% of PCGS pricing. And PCI..
I have several US gold coins in ANACS slabs that are properly graded. Please tell me where I can buy some more for 30% of PCGS pricing. Thank you.
He didn't say that all ANACS coins trade at such discounts and I've seen quite a few that have. Not surprisingly, some types/grades are more likely than others to do so.
I thought he was referring to the cost of slabbing the coins, not the market price. I am fairly certain that ANACS is less expensive at slabbing than PCGS and NGC.
Actually, I meant the market price of the coins based on sight-unseen pricing. If you can cross an ANACS coin to a PCGS holder at grade, it doubles in perceived value.
Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
@OldIndianNutKase said:
CU's business model seems to be a service related business. They charge prescribed fees to grade coins and other collectables for a fixed fee. I forsee that they perceive that grading fees are under valued and that they can share in the upside of grade inflation based upon price differential on grade reassignments. This will not be a stabilizing event for collectors.
Their brand itself is deeply rooted in consistency. Any major leadership or ownership change can put that at risk, regardless of intentions.
Here comes split grading. Separate grade for obverse and reverse. I predicted it years ago. This is the perfect time to roll it out. And what a money maker it would be. Just watch
@stockdude_ said:
Here comes split grading. Separate grade for obverse and reverse. I predicted it years ago. This is the perfect time to roll it out. And what a money maker it would be. Just watch
If so then I want a royalty since I invented split grading!
Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
seems the covid has affected more businesses than we thought. no government stimulus free loans sent PCGS' way? the timing of this sale is interesting.
@metalmeister said:
CLCT stock has been an excellent investment in 2020 . I wish had more shares to tender in the deal. As mentioned. Hope they keep the forum!
Serious question, why would you tender any shares in the deal? The current offer price it is less than the stock is trading for. It would make more sense to sell them in the stock market, tendering the shares would be giving money away. If I am missing something let me know.
I think this means the market thinks another offer is coming, or the current offer is going to need to be upped.
It really means a lot to me that a collector bought it.
I hope this can bring on some volunteer or part time mods. Websites that give blanket bans, have one strike rules and no downvote option tend to be some of the most toxic forums on the internet. All it ever does is encourage trolls to be more savvy, so they just get better and keep getting away with it. Then you end up with tons of new users being permanently banned on a regular basis and professional trolls.
That doesn't happen in healthy forums. It's not a normal thing and is a huge red flag. It's why people leave communities in droves or have a high number that just never log in again.
Have you ever been a mod? I have back when military.com had forums like this. It sucks. Always a little clique that refuse to follow the rules. No matter how many warnings and its was always about politics. In a military forum that was tough as the two are related. Here nobody gives a rats butt what somebody’s take is on subject x if that subject is not coin related. Just not that hard a rule to follow. Military.com got rid of their forums because they became a liability, without rules it becomes the Wild West and is simply not worth the trouble.
100% positive transactions with SurfinxHI, bigole, 1madman, collectorcoins, proofmorgan, Luke Marshall, silver pop, golden egg, point five zero,coin22lover, alohagary, blaircountycoin,joebb21
@ms70 said:
I'm hoping they just simply keep everything the same but streamline the process for faster service. That's all I ask for.
I forsee a HARD push to AI automated grading and photography in the near future. This will allow them to cut a big portion of their staff, so they could probably keep the finalizers as quality checks and push for more technology involved in the rest of the process as well.
If you take a look at their recent 8K and 10Q SEC reports, they talk about investments in automation and technology and indicate that is why they purchased even more office space across the street from their current location.
Great observation! Wonder what that does to the crackout market as if our hosts skynet have already seen the coin it will recognize it as already having been through once?
100% positive transactions with SurfinxHI, bigole, 1madman, collectorcoins, proofmorgan, Luke Marshall, silver pop, golden egg, point five zero,coin22lover, alohagary, blaircountycoin,joebb21
@Mgarmy said:
Great observation! Wonder what that does to the crackout market as if our hosts skynet have already seen the coin it will recognize it as already having been through once?
@ms70 said:
I'm hoping they just simply keep everything the same but streamline the process for faster service. That's all I ask for.
I forsee a HARD push to AI automated grading and photography in the near future. This will allow them to cut a big portion of their staff, so they could probably keep the finalizers as quality checks and push for more technology involved in the rest of the process as well.
If you take a look at their recent 8K and 10Q SEC reports, they talk about investments in automation and technology and indicate that is why they purchased even more office space across the street from their current location.
These sorts of operations can benefit from digitizing and automating without even touching the grading portion of the process itself. The fact that so much is still done with paper forms is really old-fashioned. I think the customer base can adapt.
@ms70 said:
I'm hoping they just simply keep everything the same but streamline the process for faster service. That's all I ask for.
I forsee a HARD push to AI automated grading and photography in the near future. This will allow them to cut a big portion of their staff, so they could probably keep the finalizers as quality checks and push for more technology involved in the rest of the process as well.
If you take a look at their recent 8K and 10Q SEC reports, they talk about investments in automation and technology and indicate that is why they purchased even more office space across the street from their current location.
These sorts of operations can benefit from digitizing and automating without even touching the grading portion of the process itself. The fact that so much is still done with paper forms is really old-fashioned. I think the customer base can adapt.
I agree with that. If PCGS actually moves locations, they're going to lose some of their grading talent, regardless of where they relocate to. This was where my comment was focused more on. Not everyone lives in a specific geographical location for financial reasons. Trust me, I would have moved out of Connecticut a long time ago if it was simply about economic considerations.
@MsMorrisine said:
how does one emblazon an online form with "this is variety FS-## see attached for PUPs" ?
The use of AI would at first likely be limited to the huge bulk submissions of modern mint bullion products where everything is PF70 or PF69, it will be some time yet until a computer has the ability to accurately assess the eye appeal/market grading portion of the grade. That would take a lot of the backlog off the graders who then could focus on things like variety's, and collector coins.
@coinbuf said:
The use of AI would at first likely be limited to the huge bulk submissions of modern mint bullion products where everything is PF70 or PF69, it will be some time yet until a computer has the ability to accurately assess the eye appeal/market grading portion of the grade. That would take a lot of the backlog off the graders who then could focus on things like variety's, and collector coins.
The graders assessing 69 vs 70 modern mint products are generally not the same ones grading classic coins.
The graders are also not generally responsible for identifying varieties other than those in the RedBook (e.g. 1918/7 D Buffalo nickels).
Those in other references, such as the cherry pickers guide, are confirmed by someone else. The graders just provide the numeric grade.
@coinbuf said:
The use of AI would at first likely be limited to the huge bulk submissions of modern mint bullion products where everything is PF70 or PF69, it will be some time yet until a computer has the ability to accurately assess the eye appeal/market grading portion of the grade. That would take a lot of the backlog off the graders who then could focus on things like variety's, and collector coins.
What if AI grades looser or tighter? If there's any noticeable disparity there will be a reaction from the customer base of some kind.
Great transactions with oih82w8, JasonGaming, Moose1913.
@coinbuf said:
The use of AI would at first likely be limited to the huge bulk submissions of modern mint bullion products where everything is PF70 or PF69, it will be some time yet until a computer has the ability to accurately assess the eye appeal/market grading portion of the grade. That would take a lot of the backlog off the graders who then could focus on things like variety's, and collector coins.
What if AI grades looser or tighter? If there's any noticeable disparity there will be a reaction from the customer base of some kind.
I have no idea; I do not submit to PCGS and I do not collect modern bullion thus as I am not one of those customers if there is a disparity it will have no effect to me.
The graders assessing 69 vs 70 modern mint products are generally not the same ones grading classic coins.
The graders are also not generally responsible for identifying varieties other than those in the RedBook (e.g. 1918/7 D Buffalo nickels).
Those in other references, such as the cherry pickers guide, are confirmed by someone else. The graders just provide the numeric grade.
That is my understanding also, but you then take all (or some) of those modern graders and move them to grading collector coins to lessen the load and speed up response time. Or you save money by reducing that portion of the overhead.
@jmlanzaf said:
ANACS used to be quite close to NGC and PCGS in pricing in the early days of slabbing. Now they are >at more like 30-40% of PCGS pricing. And PCI..
I have several US gold coins in ANACS slabs that are properly graded. Please tell me where I can buy some more for 30% of PCGS pricing. Thank you.
I'm largely referring to the sight unseen price. It is a market reality that PCGS/CAC coins tend to bring more than PCGS coins which tend to bring more than NGC with ANACS way behind. Sure, you can find an exceptional coin in an Accugrade holder and pay a premium to purchase it.
If you really think ANACS or PCI slabs bring the same money as PCGS, you should have ANACS or PCI do all of your encapsulating as they are more inexpensive, by far.
Thanks for the clarification. I do not buy coins sight unseen and I don't know any other collectors or any dealers that buy coins sight unseen. I'm sure there are some out there that do this but I don't know any. The coins I buy are already slabbed but if I wanted some inexpensive coins slabbed for authentication purposes or I just want them in plastic, I don't think ANACS or ICG would be an unreasonable choice. Not every coin is worth the high cost of NGC or PCGS slabbing services.
Agree with this. All I ever cared about was the authenticity of the piece. Once established, and with the varied views on a coins grade, graded or not, let the combatants (buyer, seller) duke it out as to what they determine the final grade to be. And the price.
Successful transactions:Tookybandit. "Everyone is equal, some are more equal than others".
@jmlanzaf said:
ANACS used to be quite close to NGC and PCGS in pricing in the early days of slabbing. Now they are >at more like 30-40% of PCGS pricing. And PCI..
I have several US gold coins in ANACS slabs that are properly graded. Please tell me where I can buy some more for 30% of PCGS pricing. Thank you.
I'm largely referring to the sight unseen price. It is a market reality that PCGS/CAC coins tend to bring more than PCGS coins which tend to bring more than NGC with ANACS way behind. Sure, you can find an exceptional coin in an Accugrade holder and pay a premium to purchase it.
If you really think ANACS or PCI slabs bring the same money as PCGS, you should have ANACS or PCI do all of your encapsulating as they are more inexpensive, by far.
Thanks for the clarification. I do not buy coins sight unseen and I don't know any other collectors or any dealers that buy coins sight unseen. I'm sure there are some out there that do this but I don't know any. The coins I buy are already slabbed but if I wanted some inexpensive coins slabbed for authentication purposes or I just want them in plastic, I don't think ANACS or ICG would be an unreasonable choice. Not every coin is worth the high cost of NGC or PCGS slabbing services.
Agree with this. All I ever cared about was the authenticity of the piece. Once established, and with the varied views on a coins grade, graded or not, let the combatants (buyer, seller) duke it out as to what they determine the final grade to be. And the price.
That's fine if you are buying. But if you try to sell a coin in an ANACS or ICG holder, you will generally not get the same value at auction.
The buyer, Nat Turner, is a sportscard collector and an astute buisnessman who invests in companies he believes in. Don't expect major changes, that is not his modus operandi. He is also an angel investor, he wants to do good with his $ (and make alot on the way of course).
Also keep in mind that NGC is a private company and has done just fine. Yes they have big investors behind them (like HA so I have heard), bu't don't offer stock to the public. There is flexibility when you are not beholden to stock holders. NGC has been wildly successful in their grading markets without being public, I suspect PCGS will do just fine under Turner (if the sale goes through) and you probably won't notice except for positive developments........
@spacehayduke said:
Don't expect major changes, that is not his modus operandi.
He is also an angel investor, he wants to do good with his $ (and make alot on the way of course).
.
.
... and you probably won't notice except for positive developments........
angel investors looking to do good with $$ are not santa clause. the one big change that could impact us is doing away with the forum. it depends on what it adds to the pcgs business.
luckily we've only scared off 1 new collector last month.
angel investors looking to do good with $$ are not santa clause.
Point taken, but, we could have a whole thread in a buisness forum and never reach a consensus on what value to whom with respect to AI's. Turner seems to be doing it right though with his angel efforts if doing it right can be applied to this.
On a fundamental basis PCGS has provided a great service, and value to the collector community. PCGS has an established reputation of service and expertise. I think it naeive to think that new ownership will maintain the same level of quality assessment.
But there was a day when ALL coins were RAW........and collectors made critical purchasing decisions.
PCGS is a grading standard, and hopefully it will remain so, regardless of ownership.
This isn't "hot" news, for the reason that it was mentioned almost 2 months ago.
Reason I know that is that I had CLCT and sold it after it initially started to rise for awhile as the ones looking to buy were already named then and, at that time, were looking at a $50ish price. I sold close to that. So, I left money on the table but, having purchased at under $15, I did ok....and I used my sale to pay off my 2nd mortgage.....so I am happy with my decision.
From what I recall when the news started out on all of this, the ones interested wanted to get more of their people on the board and they felt there were many areas that could be improved upon.
@metalmeister said:
CLCT stock has been an excellent investment in 2020 . I wish had more shares to tender in the deal. As mentioned. Hope they keep the forum!
Serious question, why would you tender any shares in the deal? The current offer price it is less than the stock is trading for. It would make more sense to sell them in the stock market, tendering the shares would be giving money away. If I am missing something let me know.
I think this means the market thinks another offer is coming, or the current offer is going to need to be upped.
I did sell my shares above the offer price. So all is good. If it goes higher great for those who held. I am happy and it was a small part of the overall portfolio. Now what to do with 0.01% money?
I spoke with one of my best friends... he runs a sports memorabilia company that has like 60k transactions on eBay. Most of us only follow coins, but he gave me insight on the sports grading side of the business. He believes this transaction is being driven by big growth in the sports area. As an anecdote, he said regular speed grading for sports items is usually about 10 months, the backlog is incredible there....
@OldIndianNutKase said:
CU's business model seems to be a service related business. They charge prescribed fees to grade coins and other collectables for a fixed fee. I forsee that they perceive that grading fees are under valued and that they can share in the upside of grade inflation based upon price differential on grade reassignments. This will not be a stabilizing event for collectors.
OINK
PCGS already does this, to some extent, on "regrade" and "reconsideration" via the "1% GP".
"If your coin upgrades, you will be charged an additional 1% of the final value of the coin in its final grade, this is referred to as the Guarantee Premium (the GP 1% would be in addition to the basic service level you select). If your coin does not upgrade, you will be charged the simple basic service level fee and any other fees applicable to your submission."
Source: FAQ > "What are the fees associated with the Reconsideration program?" @ https://www.pcgs.com/reconsideration
What if they switch to 20%-30% of the value increase? Would that be more than what they charge now in aggregate?
There is no value increase when you turn all of your 64s into 65s. The market simply reprices the 65s as 64s...or worse.
No need to make the leap to all 64s upgrading to 65s as no one else said that and I don't think that's happening.
Comments
Yes, sorry, this is very old. I was looking at CLCT and the recent price movement on a market news wire & they had this article up at top. Didn't look at the date. Nothing to do with the recent sale.
Are they also more gooder. LOL.
I'm hoping they just simply keep everything the same but streamline the process for faster service. That's all I ask for.
Great transactions with oih82w8, JasonGaming, Moose1913.
Based on his follow-up reply, he was talking about the cost of graded coins, not the cost of grading.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
I don’t value those two cents at all in fact I think it is generous to have it even worth two cents. Heather et al have done a fine job and gave multiple warnings. I have been in jail myself. Those that got the ban hammer earned it and had to work for it. Do I miss the knowledge base of someone like DIMEMAN, sure I do. They chose to die on the hill and it had nothing to do with coins.
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Actually, I meant the market price of the coins based on sight-unseen pricing. If you can cross an ANACS coin to a PCGS holder at grade, it doubles in perceived value.
Think the rain will hurt the rhubarb?
Wow I sold my CLCT shares a couple of weeks ago. Crazy
...if a slice of the pie is good...then the whole pie is great
Their brand itself is deeply rooted in consistency. Any major leadership or ownership change can put that at risk, regardless of intentions.
IG: DeCourcyCoinsEbay: neilrobertson
"Numismatic categorizations, if left unconstrained, will increase spontaneously over time." -me
Here comes split grading. Separate grade for obverse and reverse. I predicted it years ago. This is the perfect time to roll it out. And what a money maker it would be. Just watch
If so then I want a royalty since I invented split grading!
I tried to pitch this company to Warren Buffett and TDN , a few years ago.
the rain may grow what is perceived as a weed and the social media work... and the forum... gets pulled.
but social media keeps the collectible talk and interest going.
seems the covid has affected more businesses than we thought. no government stimulus free loans sent PCGS' way? the timing of this sale is interesting.
CLCT stock has been an excellent investment in 2020 . I wish had more shares to tender in the deal. As mentioned. Hope they keep the forum!
100% Positive BST transactions
😎Cool
I look forward to a celebratory golf shirt issue
Well whatever happens, I hope they remain the leading standard.
Would be nice to pay the prices listed currently and get faster turn around times. A quarterly special that I can use might be nice here and again.
Serious question, why would you tender any shares in the deal? The current offer price it is less than the stock is trading for. It would make more sense to sell them in the stock market, tendering the shares would be giving money away. If I am missing something let me know.
I think this means the market thinks another offer is coming, or the current offer is going to need to be upped.
Join the fight against Minnesota's unjust coin dealer tax law.
It really means a lot to me that a collector bought it.
I hope this can bring on some volunteer or part time mods. Websites that give blanket bans, have one strike rules and no downvote option tend to be some of the most toxic forums on the internet. All it ever does is encourage trolls to be more savvy, so they just get better and keep getting away with it. Then you end up with tons of new users being permanently banned on a regular basis and professional trolls.
That doesn't happen in healthy forums. It's not a normal thing and is a huge red flag. It's why people leave communities in droves or have a high number that just never log in again.
Have you ever been a mod? I have back when military.com had forums like this. It sucks. Always a little clique that refuse to follow the rules. No matter how many warnings and its was always about politics. In a military forum that was tough as the two are related. Here nobody gives a rats butt what somebody’s take is on subject x if that subject is not coin related. Just not that hard a rule to follow. Military.com got rid of their forums because they became a liability, without rules it becomes the Wild West and is simply not worth the trouble.
100% positive transactions with SurfinxHI, bigole, 1madman, collectorcoins, proofmorgan, Luke Marshall, silver pop, golden egg, point five zero,coin22lover, alohagary, blaircountycoin,joebb21
I forsee a HARD push to AI automated grading and photography in the near future. This will allow them to cut a big portion of their staff, so they could probably keep the finalizers as quality checks and push for more technology involved in the rest of the process as well.
If you take a look at their recent 8K and 10Q SEC reports, they talk about investments in automation and technology and indicate that is why they purchased even more office space across the street from their current location.
Great observation! Wonder what that does to the crackout market as if our hosts skynet have already seen the coin it will recognize it as already having been through once?
100% positive transactions with SurfinxHI, bigole, 1madman, collectorcoins, proofmorgan, Luke Marshall, silver pop, golden egg, point five zero,coin22lover, alohagary, blaircountycoin,joebb21
same question came up with secure plus.
they just regrade the same coin.
These sorts of operations can benefit from digitizing and automating without even touching the grading portion of the process itself. The fact that so much is still done with paper forms is really old-fashioned. I think the customer base can adapt.
IG: DeCourcyCoinsEbay: neilrobertson
"Numismatic categorizations, if left unconstrained, will increase spontaneously over time." -me
how does one emblazon an online form with "this is variety FS-## see attached for PUPs" ?
I agree with that. If PCGS actually moves locations, they're going to lose some of their grading talent, regardless of where they relocate to. This was where my comment was focused more on. Not everyone lives in a specific geographical location for financial reasons. Trust me, I would have moved out of Connecticut a long time ago if it was simply about economic considerations.
In the "other comments" section of the form?
they would first have to add that, then have an upload feature to have paperwork and pictures to back it up.
coinsarefun's prototypes would need the upload feature for attempt #1. lots of supplemental paperwork there.
The use of AI would at first likely be limited to the huge bulk submissions of modern mint bullion products where everything is PF70 or PF69, it will be some time yet until a computer has the ability to accurately assess the eye appeal/market grading portion of the grade. That would take a lot of the backlog off the graders who then could focus on things like variety's, and collector coins.
My Collection of Old Holders
Never a slave to one plastic brand will I ever be.
The graders assessing 69 vs 70 modern mint products are generally not the same ones grading classic coins.
The graders are also not generally responsible for identifying varieties other than those in the RedBook (e.g. 1918/7 D Buffalo nickels).
Those in other references, such as the cherry pickers guide, are confirmed by someone else. The graders just provide the numeric grade.
CN eBay
All of my collection is in a safe deposit box!
What if AI grades looser or tighter? If there's any noticeable disparity there will be a reaction from the customer base of some kind.
Great transactions with oih82w8, JasonGaming, Moose1913.
what if AI computer 1 gets into an argument with AI computers 2 & 3?
There will always have to be a finalizing AI computer........ or a real world human grader.
I have no idea; I do not submit to PCGS and I do not collect modern bullion thus as I am not one of those customers if there is a disparity it will have no effect to me.
That is my understanding also, but you then take all (or some) of those modern graders and move them to grading collector coins to lessen the load and speed up response time. Or you save money by reducing that portion of the overhead.
My Collection of Old Holders
Never a slave to one plastic brand will I ever be.
Agree with this. All I ever cared about was the authenticity of the piece. Once established, and with the varied views on a coins grade, graded or not, let the combatants (buyer, seller) duke it out as to what they determine the final grade to be. And the price.
That's fine if you are buying. But if you try to sell a coin in an ANACS or ICG holder, you will generally not get the same value at auction.
The buyer, Nat Turner, is a sportscard collector and an astute buisnessman who invests in companies he believes in. Don't expect major changes, that is not his modus operandi. He is also an angel investor, he wants to do good with his $ (and make alot on the way of course).
Also keep in mind that NGC is a private company and has done just fine. Yes they have big investors behind them (like HA so I have heard), bu't don't offer stock to the public. There is flexibility when you are not beholden to stock holders. NGC has been wildly successful in their grading markets without being public, I suspect PCGS will do just fine under Turner (if the sale goes through) and you probably won't notice except for positive developments........
Best, SH
Successful transactions with-Boosibri,lkeigwin,TomB,Broadstruck,coinsarefun,Type2,jom,ProfLiz, UltraHighRelief,Barndog,EXOJUNKIE,ldhair,fivecents,paesan,Crusty...
.
.
angel investors looking to do good with $$ are not santa clause. the one big change that could impact us is doing away with the forum. it depends on what it adds to the pcgs business.
luckily we've only scared off 1 new collector last month.
Point taken, but, we could have a whole thread in a buisness forum and never reach a consensus on what value to whom with respect to AI's. Turner seems to be doing it right though with his angel efforts if doing it right can be applied to this.
Best, SH
Successful transactions with-Boosibri,lkeigwin,TomB,Broadstruck,coinsarefun,Type2,jom,ProfLiz, UltraHighRelief,Barndog,EXOJUNKIE,ldhair,fivecents,paesan,Crusty...
On a fundamental basis PCGS has provided a great service, and value to the collector community. PCGS has an established reputation of service and expertise. I think it naeive to think that new ownership will maintain the same level of quality assessment.
But there was a day when ALL coins were RAW........and collectors made critical purchasing decisions.
PCGS is a grading standard, and hopefully it will remain so, regardless of ownership.
This isn't "hot" news, for the reason that it was mentioned almost 2 months ago.
Reason I know that is that I had CLCT and sold it after it initially started to rise for awhile as the ones looking to buy were already named then and, at that time, were looking at a $50ish price. I sold close to that. So, I left money on the table but, having purchased at under $15, I did ok....and I used my sale to pay off my 2nd mortgage.....so I am happy with my decision.
From what I recall when the news started out on all of this, the ones interested wanted to get more of their people on the board and they felt there were many areas that could be improved upon.
Time will tell.
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
I did sell my shares above the offer price. So all is good. If it goes higher great for those who held. I am happy and it was a small part of the overall portfolio. Now what to do with 0.01% money?
100% Positive BST transactions
I spoke with one of my best friends... he runs a sports memorabilia company that has like 60k transactions on eBay. Most of us only follow coins, but he gave me insight on the sports grading side of the business. He believes this transaction is being driven by big growth in the sports area. As an anecdote, he said regular speed grading for sports items is usually about 10 months, the backlog is incredible there....
Successful BST transactions with: PerryHall, wondercoin, gowithmygut, RonB, oreville
No need to make the leap to all 64s upgrading to 65s as no one else said that and I don't think that's happening.
Could be ......NGC could be a winner
I give away money. I collect money.
I don’t love money . I do love the Lord God.