New President at PCGS

bidask

Collectors Universe,

Inc. (Nasdaq: CLCT), a leading provider of value-added authentication and
grading services to dealers and collectors of high-value collectibles,
diamonds and colored gemstones, today announced that Don Willis, veteran
California business executive, has agreed to serve as President of the
Professional Coin Grading Service (PCGS), a division of Collectors Universe,
Inc., effective Tuesday, October 7, 2008.

"Don Willis has more than 30 years of executive experience in growing
corporate businesses and for the last six years has successfully built a
business in buying and selling rare coins," said David Hall, PCGS Founder and
President of Collectors Universe. "Don is a rare combination of solid
corporate business experience and world-class coin expertise."

Mr. Willis began his business career in Information Technology and has
served over 20 years in information technology in several growing companies.
In 1996, Mr. Willis founded his own Internet-based, supply chain software
company, raising $58 million in venture capital funding and later sold the
company in a private transaction in 2003. Thereafter, Mr. Willis followed a
personal passion and founded his own business in rare coins, growing the
business over the years at both retail and wholesale.

"David Hall and I are thrilled to welcome Don Willis and his corporate
growth experience and coin market savvy to Collectors Universe in this
important position as President of PCGS. David's revolutionary vision and
concept 22 years ago of independent, standardized grading has provided an
extremely reliable form of consumer protection and greater confidence to the
rare coin market. Now, Don will help us maintain and grow PCGS as the
industry standard in third-party certification," said Michael Haynes, Chief
Executive Officer of Collectors Universe.

Since its founding in 1986, PCGS has certified the authenticity and grade of
more than 15 million coins. The popular PCGS Set Registry(SM) program has more
than 36,500 U.S. and world coins sets registered by collectors and dealers

DennisH

Wow!

Don is a really good guy.

dizzyfoxx

<< <i>Wow!

Don is a really good guy. >>



Absolutely! Congrats Don!

rgCoinGuy

I was just noticing that at todays closing price, CLCT has over a 20% dividend.


Ticker Link

Edited to add, and congrats!

19Lyds

So where does this leave Ron Guth?

I thought he was the President?

19Lyds

Nevermind:

Ron Guth to Head PCGS CoinFacts Division

- October 2, 2008
(Santa Ana, California) – Collectors Universe, Inc. announced today, September 30, 2008, that PCGS President, Ron Guth, would be changing his role effective October 1, 2008 to become President of CoinFacts.com, a unit of PCGS that Guth had originally founded in 1999 that offers a virtual encyclopedia of knowledge about almost all U.S. Coins.

As for the President's role at PCGS, until a new President is named, David Hall and Steve Mayer, Chief Operating Officer for Collectors Universe, will assume Mr. Guth's duties to allow him to transition to the new position. Guth will oversee the building and maintenance of web-based content for both the PCGS and Coin Facts websites and related publications.

According to www.compete.com, CoinFacts.com has over 95,000 unique visitors per month.

"I'm very excited about returning to my roots as a numismatic researcher and writer," stated Guth. "My intention is to mine the impressive database of information and images that PCGS has built since 1986 and present it in ways to benefit the numismatic community. For the past three years, I've had the opportunity to lead a company filled with some of the most talented people in the industry and I am honored to have been a part of this great team."

David Hall, President of Collectors Universe stated: "All of us at PCGS appreciate the fine job Ron has done as President of our company. Content, i.e. numismatic information, is extremely important in the numismatic market place. It's one of the reasons why we purchased Coin Facts from Ron Guth a few years back. We need someone to lead the charge in building even more numismatic information resources for the numismatic community and there's nobody better for this very important job than Ron. All of our friends and customers can look forward to some very exciting things happening on the PCGS and Coin Facts websites very soon."


Linky

Unknown

This content has been removed.

TwoSides2aCoin

... I was so naive to think they'd pick Bochiman.

MrEureka

Sounds like a really smart move from both sides!

options26

Yep, I like my businesses shaken not stirred. If the business model is running flat, start at the top and shake it up.

Not saying Ron did a poor job, just some new blood may bring out new ideas. Additionally if Coinfacts was Ron's baby, he did a great job on it and if given time to really work at it I can only guess where it could go.

WTCG

Go Don go! Don has a successful and extensive backround in business and I am confident that he'll do a great job at PCGS.

Halfsense

A "numismatic" version of the news release specifically does mention Premium Numismatics. Here's a direct link to that announcement:

Click here for Don Willis news release

-donn-

BXBOY143

ziggy29

I don't know him personally, but from what I've heard, Don's a good guy with a good reputation. Best of luck to all.

Longacre

I think PCGS needs a Corporate Suit to run the show, especially in these times. Good move.

Cameonut

I don't know Don, but I wish him the best.

I do hope he visits the Q&A Forum more than Ron did.

Goldbully

I do hope he visits the Q&A Forum more than Ron did.

Sunshine Rare Coins

what will happen to premium numismatics?

RYK

<< <i>what will happen to premium numismatics? >>



The RYK-Longacre-Russ Consortium is currently checking it out.

bidask

I wonder what kind of 'corporate knowlege' he can bring to a collectibles firm like PCGS to help make it grow.

After all, Ron Guth had it all over him in terms of experience and knowledge in the coin hobby.

We'll see.

Sunshine Rare Coins

<< <i>

<< <i>what will happen to premium numismatics? >>



The RYK-Longacre-Russ Consortium is currently checking it out. >>



Who am i going to buy my bust half dollars from? I already know that i have a source for AU draped bust halfs for 100 dollars each!

JamminJ

That's a pretty nasty demotion for Guth.

CaptHenway

Does he get his own brass dollar coin?
TD

tradedollarnut

That's a pretty nasty demotion for Willis.

CoinFame

<< <i>I was just noticing that at todays closing price, CLCT has over a 20% dividend.


Ticker Link

Edited to add, and congrats! >>



There isn't a cash dividend anymore. The cash dividend was cut & replaced with a 1 time 10% stock dividend for shareholders of record on Oct 20, 2008. Today, CLCT stock is selling for quite a bit less than the reported book value per share of 4th quarter financial results reported just 8 days ago. 23mil in the bank + 29mil non-cash assets = 52mil & all stock issued is worth 37mil +/- via today's intra-day selling price...

Link:
CLCT 4th quarter results

AU58WALKERS

Congratulations, Don!

CoinJunkie

Will this usher in a new era of change...?

(BAD pun alert)

MrEureka

23mil in the bank + 29mil non-cash assets = 52mil & all stock issued is worth 37mil +/- via today's intra-day selling price...

I don't know how current those numbers are but I do know that I'd have a hard time identifying non-cash assets that I would value at $29 million.

mozin

Nice to see Don Willis "prenum" snagging the president position in PCGS. Don sold off a super set of Bust Half Dollars this past year. Nice to know that someone at PCGS know quite a bit about Bust Half Dollars. I wish him the best.

CoinRaritiesOnline

<< <i> 23mil in the bank + 29mil non-cash assets = 52mil & all stock issued is worth 37mil +/- via today's intra-day selling price...

I don't know how current those numbers are but I do know that I'd have a hard time identifying non-cash assets that I would value at $29 million. >>



Check out the link to the msn.com article above. It has a current balance sheet for CLCT.