February 16, 2012 – The recent announcement that Professional Coin Grading Service has established a Hong Kong-based authentication and grading service, Collectors Universe (Hong Kong) Ltd., has received enthusiastic response from some of Asia’s most respected rare coin dealers and collectors. Guidelines and submission forms on how to submit coins to PCGS in Asia will be announced soon in conjunction with the Hong Kong Coin Convention and Antique Watch Show, April 6-8, 2012.
The convention’s co-sponsor and PCGS dealer, Ma Tak Wo from Ma Tak Wo Numismatic Co. Ltd. in Hong Kong, commented: “Currently, Hong Kong and mainland Chinese collectors have to send their coins to the United States for grading and wait a couple of months if not longer for the turnaround. As a show organizer, auctioneer and coin dealer, I am most happy to see PCGS offer on-site grading services at the upcoming April Hong Kong show. It means tremendous savings in time and money for local collectors and dealers.”
Ian Golbardt from Baldwin (UK) and co-sponsor of the Hong Kong show added: “A H Baldwin is delighted that PCGS has decided to establish a Hong Kong-based authentication and grading operation. The Far East numismatic market continues to expand and attract new collectors and their ability to have coins authenticated is an additional comfort especially for new collectors in this market. As joint sponsor’s of the Hong Kong International Convention and a PCGS authorized dealer, Baldwin’s is also pleased that PCGS chose to offer their grading service at the April 2012 show.”
“The establishment of PCGS in Hong Kong will surely provide more convenience and opportunities to Chinese coin collectors and businessmen, as well as for all of Asia. That’s a real benefit! Congratulations to the coming of PCGS / Collectors Universe (Hong Kong) Ltd. May the new business in Asia have great prosperity!” said Mrs. Zuo, a PCGS-authorized dealer with Bejing ChengXuan Auction Co. Ltd. in China.
This (circa) 1901 Kiangnan $1 graded PCGS Secure Plus MS62+ had a pre-sale estimate of RMB 800,000 but sold for RMB 1,552,500 in a Beijing auction last fall.
“It’s big news!” exclaimed PCGS dealer Stanley Chou from Fuchin (Taiwan).
Li Chia-Yin of Silver House in Taiwan said: “As a Taiwan PCGS dealer, I am very happy for the Asian region, especially Taiwan. This is a significant improvement, whether one sends coins to grade or participates in the activities organized by PCGS; it can be even more timely and effective. I can synchronize with PCGS and clients in Asia as well as more closely with the major auction companies in order to more effectively develop business and the certification of coins.”
He praised PCGS Secure Plus(TM) service. “I sent a 1901 Kiangnan coin without initials (HAH Y145A.5) that is graded PCGS Secure Plus MS62+ to Beijing ChengXuan Auctions Co. Ltd last fall. It sold for a very high price at RMB 1,552,500 versus an initial estimate of RMB 800,000.”
PCGS-certified coins have repeatedly brought higher-than-estimated prices at public auctions in Europe after PCGS successfully opened an office in Paris, France in May 2010 as part of the company’s expanding international services.
PCGS dealer Gilbert Chiang from Monetarium (S) Pte Ltd (Singapore) cheered when he learned about the PCGS services now available in Hong Kong: “Fantastic, thanks for the good news. We are looking forward to it.” Mr. Youn from Coinstore in Korea told PCGS: “Congratulations on establishing the new company in Hong Kong. I am astonished with PCGS’ tremendous drive and insight and I promise to do my best for your new business in Hong Kong.”
Mr. Jean Lecompte, the author of the reference book, Coins and Tokens from the French Colonies, stated that “this is the best way to open the coin market between our two worlds.”
Also many Asian collectors sent encouraging messages to PCGS. James Chou from mainland China wrote: “This is the biggest news ever. It must be successful.”
Muriel Eymery, Vice President International Business Development for PCGS concluded, “It is wonderful to have so many encouraging comments regarding our move into Hong Kong. Along with the PCGS Hong Kong grading and operations team, I look forward to welcoming collectors and dealers in a few weeks. We will make it as easy as possible for the Asian coin lovers to submit their rare coins and bullion to PCGS in Hong Kong.”
Since its founding in 1986, Professional Coin Grading Service experts have certified over 23 million coins with a total market value of over $26 billion. PCGS represents the industry standard in third-party certification. PCGS is a division of Collectors Universe, Inc. (NASDAQ: CLCT).
You can read an article on PCGS’s recent expansion to Asia here.