CU and PCGS Business Up
Sequitur
Posts: 1,195
This discussion is tangentially related to some other posts about grading times.
Concerning purported grading delays, Collector's Universe reported a 21% jump in business for articles graded and authenticated -- I imagine this includes not only coins but also cards, etc. So they have had what appears to be quite an upswing in business. From the CU 10/28/04 press release:
"On October 8, 2004, the Company released that total units graded and authenticated grew 21% for the first quarter of fiscal year 2005, ended September 30, 2004, to 663,000 units compared to 549,000 units in the same period in fiscal 2004."
I assume their fiscal quarter is 90 days, and assuming that's true, phew, that is a lot of business per day.
Press Release
Concerning purported grading delays, Collector's Universe reported a 21% jump in business for articles graded and authenticated -- I imagine this includes not only coins but also cards, etc. So they have had what appears to be quite an upswing in business. From the CU 10/28/04 press release:
"On October 8, 2004, the Company released that total units graded and authenticated grew 21% for the first quarter of fiscal year 2005, ended September 30, 2004, to 663,000 units compared to 549,000 units in the same period in fiscal 2004."
I assume their fiscal quarter is 90 days, and assuming that's true, phew, that is a lot of business per day.
Press Release
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Comments
It refers to units graded and authenticated not submitted.
I wonder how much was back-log caught up by new graders being hired and how much was due to an increase in submissions?
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since 8/1/6
Yes, and I wonder if current actual submissions are up by a similar amount. Anyway, thought it would shed at least a little light on the business behind the business.