Its time to say your goodbyes
lincolnSence
Posts: 407 ✭
My humble prediction - PCGS will be severed from CU by the summer. New management, new start the whole shootin match. What this will do to the slab market is up for speculation, but in my opinion, all the tell tale signs are there. Maybe we could even see Dave Bowers as the new CEO (wouldn't this be a kick in the head)?
For those of you who would ask, the signs are dissatisfaction from the dealer, collector and employee groups. I question their financial stability. I don't care what you say, even 100,000 submissions a month (and I don't have the official figures here but through last August they didn't even break 75,000 submissions in any given month) they won't last.
That said, I remain a devoted PCGS slab collector and registry supporter. But, its hard to ignor the signs. What should we all be taking advantage of if this prediction is a possibility?
For those of you who would ask, the signs are dissatisfaction from the dealer, collector and employee groups. I question their financial stability. I don't care what you say, even 100,000 submissions a month (and I don't have the official figures here but through last August they didn't even break 75,000 submissions in any given month) they won't last.
That said, I remain a devoted PCGS slab collector and registry supporter. But, its hard to ignor the signs. What should we all be taking advantage of if this prediction is a possibility?
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Cameron Kiefer
Russ, NCNE
The question of "what to do?" is even more interesting...I suppose business as usual until something more concrete is available? I imagine if PCGS were to split off the dmamge would be severe in the short term, with many collectors switching to NGC until something resembling stability returned to PCGS. Who knows? But inteteresting thoughts nonetheless.
"France said this week they need more evidence to convince them Saddam is a threat. Yeah, last time France asked for more evidence it came rollin thru Paris with a German Flag on it." -Dave Letterman
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It's amazing what you can overhear on the floor of a coin show. Two major CLCT stockholders were conversing and complaining about the value. One wanted to dump his holdings, but just couldn't since the values were so low. Simply amazing.
TRUTH
On another note - why spin off? A few top flight guys pack their stuff and open the doors elsewhere. The industry is small, reputations are solid, and when you get right down to it, we've all got families to feed.
Reverse splits + wide spreads + low volume + closely held control + zero market makers = recipe for disaster
and we can at least have a nice stew for lunch.
Camelot