The Big One is OUT!!!
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Collectors Universe Coin Division Announces PCGS Secure Plus(TM) Service
Increased Consumer Protection and Plus Grades for Added Value 03/25 01:00 PM
NEWPORT BEACH, Calif., March 25 /PRNewswire-FirstCall/ -- Collectors Universe, Inc. (CLCT:$10.57,00$0.19,001.83%) , a leading provider of value-added authentication and grading services to dealers and collectors of high-value collectibles, today announced that its coin division, Professional Coin Grading Service (PCGS), has launched PCGS Secure Plusâ„¢, a new high-tech grading process that has been designed to increase the confidence of collectors and dealers, and has introduced a new grade designation that potentially can increase the value of selected coins.
The PCGS Secure Plus process uses laser scanning to help detect coins that have been artificially enhanced since their last certification and can also be used to help identify stolen coins. Â Additionally, PCGS can now designate deserving, superior-quality coins as "Plus" within their respective grades, an important distinction when there are big differences in value between one grade point and the next.
Developed after extensive software and hardware development and testing in partnership with Coinsecure, Inc. of Palo Alto, California, the PCGS Secure Plus service digitally captures a unique "fingerprint" of each coin that is then entered into a permanent database.
"PCGS Secure Plus will introduce a new level of confidence and security in the coin collecting market," said PCGS President Don Willis. "We believe that PCGS Secure Plus addresses several of the leading issues affecting the industry today. Â PCGS Secure Plus is a patent-pending process, wherein a coin is laser scanned, imaged and registered in a permanent database. Â Every coin has its own identifying characteristics. Â Coins are like snowflakes at the micron level; they are very different from each other. Â If a coin has been previously registered in our database using the Secure Plus process, it will be identified whenever it's again scanned by us, making it possible to detect enhancements that may have been made since the coin was last registered with us.
"PCGS Secure Plus is an innovative service that also addresses the significant price gaps between one grade point and the next, by formally recognizing high-end specimens within respective grades," said David Hall, Co-Founder of PCGS and President of Collectors Universe (CLCT:$10.57,00$0.19,001.83%) . Â "The reality of the marketplace is that coins considered high end for the grade are recognized by sophisticated dealers and collectors, and such coins are worth a premium in the marketplace. The term 'plus' has been a part of the everyday trading and grading lingo for years. Â The high end for any particular grade represents the top 30% of the scale within a grade, and we estimate that the 'plus' designation would apply to approximately 15% to 20% of the coins within a grade. Â Those technically superior coins in the high end for their grade will now have a plus sign (+) on their PCGS insert label."
PCGS Secure Plus is being offered as a separate, new service. Â All existing PCGS services will continue to be offered without change except for Rarities and Ultra Rarities, which will only be offered with the PCGS Secure Plus service. Â Initially, PCGS Secure Plus will be offered for higher value services only for raw coins, re-grades and re-holders.
For additional information, visit us at www.PCGS.com.
About Collectors Universe (CLCT:$10.57,00$0.19,001.83%)
Collectors Universe, Inc. (CLCT:$10.57,00$0.19,001.83%) is a leading provider of value added services to the high-value collectibles markets. Â The Company authenticates and grades collectible coins, sports cards, autographs and stamps. The Company also compiles and publishes authoritative information about United States and world coins, collectible trading cards and sports memorabilia and collectible stamps and operates its CCE dealer-to-dealer Internet bid-ask market for certified coins and its Expos trade show and conventions business. This information is accessible to collectors and dealers at the Company's web site, http://www.collectors.com, and is also published in print.
Cautionary Statements Regarding Forward-Looking Information
This news release contains statements regarding our expectations, beliefs or views about our future financial performance and trends in our business and in our markets, which constitute "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements can often be identified by the use of words such as "believe," "expect," "anticipate," "intend," "plan," "estimate," "project," or future or conditional verbs such as "will," "would," "should," "could," or "may."
Due to a number of risks and uncertainties to which our business is subject, our future financial performance may differ, possibly significantly, from our expected financial performance as set forth in the forward-looking statements contained in this news release. Â Information regarding those risks and uncertainties, and their possible impact on our future financial performance, include, but are not limited to, our continued and increased dependence on our coin business which generated 63% of our consolidated revenues and substantially all of our operating income in the first half of the year, the risk that economic conditions in the United States will not improve for some time and may even deteriorate further, which could result in reductions in the demand for our collectible grading services and, consequently, in our revenues; the risk that the current economic recession and credit crisis will lead to longer term changes in the spending habits of consumers and in the availability and use of credit by smaller businesses, such as collectibles dealers, to fund purchases of collectibles, which could lead to longer term declines in collectibles commerce and, therefore, in the demand for our services; the risk that our strategy to offer new services in our continuing collectibles markets will not be successful in enabling us to improve our profitability or may even cause us to incur significant losses; and the risk that the commercial real estate market in New York City will deteriorate further, in which case we may not be able to sublease the offices and laboratory facilities in New York City formerly occupied by our jewelry businesses within the time periods and for the rents currently expected, which would cause our net rental payment obligations to be significantly higher than currently expected leading to reductions in cash flows and additional losses from discontinued operations in future periods.
Additional information regarding these risks and information regarding other risks and uncertainties to which our business is subject is contained in our Annual Report on Form 10-K for our fiscal year ended June 30, 2009 and our Quarterly Report on Form 10-Q for the second quarter ended December 31, 2009 filed with the Securities and Exchange Commission on February 9, 2010. Â Due to these risks and uncertainties, readers are cautioned not to place undue reliance on the forward-looking statements contained in this news release or in our Annual or Quarterly Reports, which speak only as of their respective dates. We also disclaim any obligation to update or revise any of the forward-looking statements as a result of new information, future events or otherwise, except as may be required by law or NASDAQ rules.
Increased Consumer Protection and Plus Grades for Added Value 03/25 01:00 PM
NEWPORT BEACH, Calif., March 25 /PRNewswire-FirstCall/ -- Collectors Universe, Inc. (CLCT:$10.57,00$0.19,001.83%) , a leading provider of value-added authentication and grading services to dealers and collectors of high-value collectibles, today announced that its coin division, Professional Coin Grading Service (PCGS), has launched PCGS Secure Plusâ„¢, a new high-tech grading process that has been designed to increase the confidence of collectors and dealers, and has introduced a new grade designation that potentially can increase the value of selected coins.
The PCGS Secure Plus process uses laser scanning to help detect coins that have been artificially enhanced since their last certification and can also be used to help identify stolen coins. Â Additionally, PCGS can now designate deserving, superior-quality coins as "Plus" within their respective grades, an important distinction when there are big differences in value between one grade point and the next.
Developed after extensive software and hardware development and testing in partnership with Coinsecure, Inc. of Palo Alto, California, the PCGS Secure Plus service digitally captures a unique "fingerprint" of each coin that is then entered into a permanent database.
"PCGS Secure Plus will introduce a new level of confidence and security in the coin collecting market," said PCGS President Don Willis. "We believe that PCGS Secure Plus addresses several of the leading issues affecting the industry today. Â PCGS Secure Plus is a patent-pending process, wherein a coin is laser scanned, imaged and registered in a permanent database. Â Every coin has its own identifying characteristics. Â Coins are like snowflakes at the micron level; they are very different from each other. Â If a coin has been previously registered in our database using the Secure Plus process, it will be identified whenever it's again scanned by us, making it possible to detect enhancements that may have been made since the coin was last registered with us.
"PCGS Secure Plus is an innovative service that also addresses the significant price gaps between one grade point and the next, by formally recognizing high-end specimens within respective grades," said David Hall, Co-Founder of PCGS and President of Collectors Universe (CLCT:$10.57,00$0.19,001.83%) . Â "The reality of the marketplace is that coins considered high end for the grade are recognized by sophisticated dealers and collectors, and such coins are worth a premium in the marketplace. The term 'plus' has been a part of the everyday trading and grading lingo for years. Â The high end for any particular grade represents the top 30% of the scale within a grade, and we estimate that the 'plus' designation would apply to approximately 15% to 20% of the coins within a grade. Â Those technically superior coins in the high end for their grade will now have a plus sign (+) on their PCGS insert label."
PCGS Secure Plus is being offered as a separate, new service. Â All existing PCGS services will continue to be offered without change except for Rarities and Ultra Rarities, which will only be offered with the PCGS Secure Plus service. Â Initially, PCGS Secure Plus will be offered for higher value services only for raw coins, re-grades and re-holders.
For additional information, visit us at www.PCGS.com.
About Collectors Universe (CLCT:$10.57,00$0.19,001.83%)
Collectors Universe, Inc. (CLCT:$10.57,00$0.19,001.83%) is a leading provider of value added services to the high-value collectibles markets. Â The Company authenticates and grades collectible coins, sports cards, autographs and stamps. The Company also compiles and publishes authoritative information about United States and world coins, collectible trading cards and sports memorabilia and collectible stamps and operates its CCE dealer-to-dealer Internet bid-ask market for certified coins and its Expos trade show and conventions business. This information is accessible to collectors and dealers at the Company's web site, http://www.collectors.com, and is also published in print.
Cautionary Statements Regarding Forward-Looking Information
This news release contains statements regarding our expectations, beliefs or views about our future financial performance and trends in our business and in our markets, which constitute "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements can often be identified by the use of words such as "believe," "expect," "anticipate," "intend," "plan," "estimate," "project," or future or conditional verbs such as "will," "would," "should," "could," or "may."
Due to a number of risks and uncertainties to which our business is subject, our future financial performance may differ, possibly significantly, from our expected financial performance as set forth in the forward-looking statements contained in this news release. Â Information regarding those risks and uncertainties, and their possible impact on our future financial performance, include, but are not limited to, our continued and increased dependence on our coin business which generated 63% of our consolidated revenues and substantially all of our operating income in the first half of the year, the risk that economic conditions in the United States will not improve for some time and may even deteriorate further, which could result in reductions in the demand for our collectible grading services and, consequently, in our revenues; the risk that the current economic recession and credit crisis will lead to longer term changes in the spending habits of consumers and in the availability and use of credit by smaller businesses, such as collectibles dealers, to fund purchases of collectibles, which could lead to longer term declines in collectibles commerce and, therefore, in the demand for our services; the risk that our strategy to offer new services in our continuing collectibles markets will not be successful in enabling us to improve our profitability or may even cause us to incur significant losses; and the risk that the commercial real estate market in New York City will deteriorate further, in which case we may not be able to sublease the offices and laboratory facilities in New York City formerly occupied by our jewelry businesses within the time periods and for the rents currently expected, which would cause our net rental payment obligations to be significantly higher than currently expected leading to reductions in cash flows and additional losses from discontinued operations in future periods.
Additional information regarding these risks and information regarding other risks and uncertainties to which our business is subject is contained in our Annual Report on Form 10-K for our fiscal year ended June 30, 2009 and our Quarterly Report on Form 10-Q for the second quarter ended December 31, 2009 filed with the Securities and Exchange Commission on February 9, 2010. Â Due to these risks and uncertainties, readers are cautioned not to place undue reliance on the forward-looking statements contained in this news release or in our Annual or Quarterly Reports, which speak only as of their respective dates. We also disclaim any obligation to update or revise any of the forward-looking statements as a result of new information, future events or otherwise, except as may be required by law or NASDAQ rules.
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Comments
-Paul
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So now all my coins that don't have a "+' next to their grade will be deemed POS's and will drop in value. This is nice.
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<< <i>
no. It still doesnt change the fact that CAC coins will still command a premium over PCGS + coins... look at the NGC Star coins, they still get CAC stickers.
....all this will be trumped by a not yet known "square sticker"
<< <i>How does this eliminate coin doctoring? Coins can still be cracked out and doctored. New submissions can be doctored. >>
If you crack a Secure Plus coin and resubmit it, the laser scanner will detect that the coin was already submitted and show what it originally looked like...at least that's my understanding of it.
<< <i>So you can have your coins graded with this "Secure Plus" service that scans them and saves them to a database. You also have the option of NOT having the coin graded with the Secure Plus service (except if it's an ultra rarity or whatever). Hmmm...am I reading that correctly? >>
Yes the secure plus only works if the someone spent the money to get the royal treatment in the first place.....all of the other 19 million coins in their holders not scanned will be just the same as they always were in the marketplace. If you are a big player and you buy coins that cost thousands of dollars then this could be a big win but for the average collector I don't see how this changes anything? The most expensive coin I have in PCGS plastic is worth around $500 so now I spend $$$ and get it in a new holder potentially with a plus if I am lucky and the coin raise in value probably not as much as I spent on the service
So, I would pay a fee for a digitial image that would tell if it was artificially enhanced since it's last certification at PCGS or would tell if it was stolen (only if resubmitted to PCGS). Don't need no digital image, I've go the coin. If it's stolen, what are the chances it will get cracked out and resubmitted to PCGS?
Did anyone win David's $1000 "reward?"
No Way Out: Stimulus and Money Printing Are the Only Path Left
<< <i>
<< <i>
no. It still doesnt change the fact that CAC coins will still command a premium over PCGS + coins... look at the NGC Star coins, they still get CAC stickers. >>
Because, for the millionth time, NGC Star does not designate premium quality, but rather extraordinary eye appeal.
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Chucknra@yahoo.com
Nice, nice+, really nice, really nice+
Wonder what percent of NGC coins or ANACS coins will cross with a +?
More precise and consistent grading
Improved detection of altered coins
Less chance of "gradeflation"
More likely recovery if a Secure Plus coin is ever lost or stolen
Increased value of high-end coins within each grade
1. This will push down the prices on all non + coins....and therefore push owners to resubmit for a + sign. Similar to a "no-coin left behind" program. If you're not designated...you aren't a player.
2. CAC will continue since they still designate solidly graded coins and most collectors/investors are happy with a good coin. And any coin not getting a + will be a logical candidate for CAC.
3. This will help non-grading experts play the crack-out game too.
4. It will be harder to get a PQ price on a coin just based on a seller's puffery when there is now: 1: NGC* 2: PCGS+ 3:CAC
5. All in all, this is another twist on the "dreck" theme. Any coin not carrying an additional label will be at a disadvantage...guilt by un-association.
roadrunner
Gary
<< <i>
1. This will push down the prices on all non + coins....and therefore push owners to resubmit for a + sign.
roadrunner >>
......................................................................................................................................................................................
IMO it doesn't push down but may rather help all older slabbed coins.
All of my pre Big Ones will now be sold as "Pre scan............ potential + upgrade canditates!!!"
I'm betting that phrase will be very popular and overused on Ebay!!
The idea is to keep + exclusive. The great majority of newly graded coins won't get it.
I would guess a higher portion of regrades will earn +.
Lance.
<< <i>Thats it...... They just stole NGC's lame star idea??????????????????????????????? >>
I think they're competing with the CAC sticker. Wouldn't a "+" be the same as a CAC sicker? They both mean PQ for the grade.
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<< <i>Can a 70 get a + designation ? >>
No. David Hall stated the "+" will be given to 45 - 68 grades excluding 60 and 61. Therefore there will not be a 69+ or 70+.
<< <i>
<< <i>Can a 70 get a + designation ? >>
No. David Hall stated the "+" will be given to 45 - 68 grades excluding 60 and 61. Therefore there will not be a 69+ or 70+. >>
They will add that point in a future exciting announcment.
As Mr. Horse said on Ren & Stimpy, "Nope, don't like it a bit"...
I find them rather attractive.
The name is LEE!
Ridiculous.
<< <i>
For the price and service, CAC will be a bargain.
<< <i>How does this eliminate coin doctoring? Coins can still be cracked out and doctored. New submissions can be doctored. >>
Watch the video, once the coin is scanned and photod, its identity is established, anything that happens to it after that can be seen (putty, AT, shoe polish?).
<< <i>It may not seem big now but it's a couple big steps in the right direction. >>
Larry L.
<< <i>
<< <i>How does this eliminate coin doctoring? Coins can still be cracked out and doctored. New submissions can be doctored. >>
Watch the video, once the coin is scanned and photod, its identity is established, anything that happens to it after that can be seen (putty, AT, shoe polish?). >>
Some people watched but didn't hear anything because it wasn't a big enough "big one"
Slab crackers will be hurt, but not until it's on all services.
And a cheap rate should be in effect for all already graded coins.
Start the population guide all over again.
Just a thought or two
It is a good move for the collector eventually, plus it will generate one more round of resubmissions for PCGS which will help them now.