With the recent ownership changes at the top grading companies, what changes . . .
csdot
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With the recent ownership changes at the top grading companies, what changes can we expect to see in the hobby over the coming years? Sort of reminds me of the 1980s as TPG became a thing, when Wall Street got excited about the hobby. For a couple of years there it seemed there was a chance collectible coins could become a commodity traded sight unseen on a financial market. The 1987 crash seemed to kill that push, but with financial giants stepping in today, what is the anticipated future of the hobby?
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Only the Shadow knows.
I believe the recent acquisitions of CU and CCG don't have anything to do with coins, I think they are more oriented on the sports cards/memorabilia businesses. So I do not expect huge changes. Just streamlining, expense cutting, etc. TPG's gonna be running lean.
"It's like God, Family, Country, except Sticker, Plastic, Coin."
Probably not much.
I can't think of anything the TPG will change that has much if anything to do with actual coin collecting.
The recent announcement of who is taking over for Brett could be a signal of things to come. The press release mentions her as coming from a family that has history in the coin collecting business, however I saw no mention of her having any direct history as a dealer. I have no idea if or how that might impact relations between PCGS and its dealer base, perhaps not at all.
As a simple collector I will just be watching from the outside to see the known and coming changes. As the recent buyouts are likely more directed towards the sports and other collectable markets I think that @DelawareDoons is correct that cost cutting is one possible move forward for the coin side of the house.
My Collection of Old Holders
Never a slave to one plastic brand will I ever be.
For purposes of accuracy, I believe the crash was 1989-1990.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
only time will tell what will happen and what will not happen
Aug 11th
My 1987 crash comment was in reference to Black Monday (https://en.wikipedia.org/wiki/Black_Monday_(1987)) and its aftermath on a wide swath of financial markets, but you may be correct as to when the coin market was financially impacted.
Indian Head $10 Gold Date Set Album
These changes, in regards to collectors, are really inconsequential. I read of them with passing interest, but consider them as business cycles and then return to my coins. I just don't care about them since there will be zero effect on my collection. Cheers, RickO
Better turn around times would be a nice change.
Great transactions with oih82w8, JasonGaming, Moose1913.
As long as the PCGS side stays profitable, I would expect only tweaks and minor changes vs sea changes. It would not surprise me if PCGS eventually (same with NGC) get spun off as separate companies and sold eventually if the other groups maintain and increase their profitability.
Thanks for the clarification. I remember that well!
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
My two big wants:
Wait until the sports card market crashes then see what happens.
If my childhood cards are still available, could be time to sell them!
I've always been a proponent of the top reading label.
I’m looking for turn around times to be reduced.
How do the current times match up with NGC? If PCGS has better performance in this area, I wouldn't expect much of an improvement unless having significantly better performance would drive more business.
A new person coming into senior management position will feel the need to improve metrics....delivery performance, customer satisfaction and profitability to name a few. Profitability will be the item that anything else that is done will support. Within the next 12 months it will be painfully clear what her new marching orders will be to the management team.
I hope to see evolution rather than revolution.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire