Expanding into mainland China, Professional Coin Grading Service (PCGS) said it is opening a new Shanghai office and has begun building partnerships with prominent Chinese companies.
"Interest in collecting and investing in coins continues to grow in China," said Mr. Don Willis, President of PCGS. "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, a division of Collectors Universe, Inc. (NASDAQ: CLCT), announced its expansion Thursday, noting the new grading and authentication center in mainland China is named Collectors Universe (Shanghai), Ltd. (上海品吉伟仕商务服务有限公司) with details found online at www.PCGSAsia.com.
PCGS also announced a new strategic partnership with Shanghai Quanping Collectables Co. Ltd., a newly formed company coordinated by Mr. YU Jiwei who is the Chairman of www.Jibi.net.
"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.
www.jibi.net is an influential source for coin news and an important marketplace with the largest outreach to the modern coin community in China.
"Quanping will be the official and exclusive agency handling coins submission on behalf of PCGS in mainland China," said Ms. Muriel Eymery, PCGS Vice President of International Business Development.
In 2010, PCGS opened a coin submission center office in Paris for Europe. In 2012, the company expanded into Asia with the opening of its submission center in Hong Kong.