CU news hot off the press....
mercurydimeguy
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http://biz.yahoo.com/prnews/050906/sftu093.html?.v=24
Collectors Universe Acquires Certified Coin Exchange
Tuesday September 6, 8:30 am ET
NEWPORT BEACH, Calif., Sept. 6 /PRNewswire-FirstCall/ -- Collectors Universe, Inc. (Nasdaq: CLCT - News), a leading provider of value-added authentication and grading and other value-added services to dealers and collectors of high-value collectibles, today announced that it has completed its purchase of Certified Coin Exchange (CCE) and a related business for $2.18 million in cash.
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CCE is a subscription-based, dealer-to-dealer Internet bid-ask market for third party certified coins with two membership levels. Currently, there are over 125 member firms that get full bid-ask access enabling them to effect coin trades on CCE for a monthly subscription fee of $295. Approximately 275 associate member firms pay $139 per month for basic access, which entitles them to view CCE prices for reference and assistance in up-to-the-minute market price analysis. These new operations will be included in a new subsidiary, Certified Assets Exchange (CAE), and the Company has assigned a current executive, Cassi East, as President.
Michael Haynes, Chief Executive Officer of Collectors Universe commented, "The CCE acquisition represents another step in our strategy to provide a full range of fee-based, diversified services to the market for high value assets. With the bid-ask system of CCE complementing our leading coin authentication and grading services, we can now better take advantage of and monetize our database of information relating to supply and demand in this fragmented market. This acquisition, which we expect to be accretive, also provides the opportunity to extend our services into other markets served by the Company and possibly into new markets we have targeted for expansion."
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<< <i>http://biz.yahoo.com/prnews/050906/sftu093.html?.v=24
Collectors Universe Acquires Certified Coin Exchange
Tuesday September 6, 8:30 am ET
NEWPORT BEACH, Calif., Sept. 6 /PRNewswire-FirstCall/ -- Collectors Universe, Inc. (Nasdaq: CLCT - News), a leading provider of value-added authentication and grading and other value-added services to dealers and collectors of high-value collectibles, today announced that it has completed its purchase of Certified Coin Exchange (CCE) and a related business for $2.18 million in cash.
ADVERTISEMENT
CCE is a subscription-based, dealer-to-dealer Internet bid-ask market for third party certified coins with two membership levels. Currently, there are over 125 member firms that get full bid-ask access enabling them to effect coin trades on CCE for a monthly subscription fee of $295. Approximately 275 associate member firms pay $139 per month for basic access, which entitles them to view CCE prices for reference and assistance in up-to-the-minute market price analysis. These new operations will be included in a new subsidiary, Certified Assets Exchange (CAE), and the Company has assigned a current executive, Cassi East, as President.
Michael Haynes, Chief Executive Officer of Collectors Universe commented, "The CCE acquisition represents another step in our strategy to provide a full range of fee-based, diversified services to the market for high value assets. With the bid-ask system of CCE complementing our leading coin authentication and grading services, we can now better take advantage of and monetize our database of information relating to supply and demand in this fragmented market. This acquisition, which we expect to be accretive, also provides the opportunity to extend our services into other markets served by the Company and possibly into new markets we have targeted for expansion." >>
Congrats on the promotion, Cassi!
Authorized dealer for PCGS, PCGS Currency, NGC, NCS, PMG, CAC. Member of the PNG, ANA. Member dealer of CoinPlex and CCE/FACTS as "CH5"