April 11, 2013 – Professional Coin Grading Service, a division of Collectors Universe, Inc. (NASDAQ: CLCT), is opening its first grading and authentication center in mainland China. The new company, Collectors Universe (Shanghai), Ltd., is a wholly owned subsidiary of Collectors Universe (Hong Kong), Ltd.
PCGS will make grading and authentication of modern Chinese coins dated after 1970 and vintage Chinese coins from the late 1700s to the mid 20th century locally available in mainland China.
Coin grading partners meeting in Hong Kong on April 4, 2013: From left to right, Mr. Chen Haomin, Chairman of GuangYinGe; Ms. Muriel Eymery, PCGS Vice President of International Development; Mr. Don Willis, PCGS President; Mr. Yu Jiwei, Chairman of Jibi.net; and Mr. Ding Feng, Chairman of XiYu Jinbi. Photo courtesy of PCGS.
“Interest in collecting and investing in coins continues to grow in China. In 2013, over 11 million silver and gold Panda coins will be produced for collectors, and even more mintages are to come in future years. PCGS, as a division of Collectors Universe, Inc., is the only publicly traded third-party grading service with the highest level of transparency and security. PCGS will bring the world’s leading service to the coin collector community in mainland China. PCGS’ grading and life-long guarantee of authenticity will help establish and maximize value and add liquidity to the coins,” said Mr. Don Willis, President of PCGS.
“PCGS also is pleased to announce a strategic partnership agreement with Shanghai Quanping Collectables Co. Ltd.,” said Ms. Muriel Eymery, PCGS Vice President of International Business Development.
“Quanping, a newly formed company coordinated by Mr. YU Jiwei who is the Chairman of www.Jibi.net, will be the official and exclusive agency handling coins submission on behalf of PCGS in mainland China,” continued Eymery.
The portal www.jibi.net is the most influential source for coin news and an important marketplace with the largest outreach to 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 a coin submission center office for Europe in 2010 in Paris and expanded into Asia with the opening of a Hong Kong submission center office in 2012.
For additional information about PCGS services in Asia (in Mandarin and English) visit the PCGS Asia website.