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NEWPORT BEACH, Calif., April 4, 2013 (GLOBE NEWSWIRE) -- Collectors Universe, Inc. (Nasdaq:CLCT), a leading provider of value-added authentication and grading services to dealers and collectors of high-value collectibles, today announced that its PCGS coin grading and authentication business will expand its international services by establishing operations in mainland China during 2013.
PCGS will establish an office in Shanghai to grade and authenticate modern Chinese coins dated after 1970 and vintage Chinese coins from the late 1700s to the mid-20th century.
"Interest in collecting and investing in coins continues to grow in China. In 2013, over 11 million silver and gold Panda coins were produced for collectors, and even more mintages are expected to come in future years. As a division of a publicly traded company, PCGS will bring the highest level of transparency and security to the coin collecting community in mainland China. PCGS' presence in China should add value and liquidity to Chinese coins," said Mr. Don Willis, President of PCGS.
"PCGS is also pleased to announce a strategic partnership agreement with Shanghai Quanping Collectibles Co. Ltd.," said Ms. Muriel Eymery, PCGS Vice President of International Business Development. "Quanping, coordinated by Mr. Yu Jiwei, Chairman of
www.Jibi.net , and including other prominent Chinese coin leaders as its shareholders, will market PCGS services and operate official and exclusive coin submission centers on behalf of PCGS in mainland China," continued Eymery.
The portal (
www.jibi.net ) is the most influential source for coin news in China, and is an important marketplace for the modern coin community in China. "We will leverage resources at Jibi.net to promote PCGS in China. I am confident that our synergy with PCGS will help create a vibrant marketplace, benefiting collectors and dealers, modern and vintage alike, and define a new era for the Chinese coin community," said Mr. Yu Jiwei.
PCGS opened coin submission centers in Paris, France in 2010 to serve the European market and in Hong Kong in 2012 to serve the Asian market.