NEWPORT BEACH, CA—Collectors Universe, Inc., a leading provider of value-added authentication and grading services to dealers and collectors of high-value collectibles, and dealers of diamonds and colored gemstones, today announced that it has sold PCGS Currency, its currency authentication and grading division for collectible currency, to a new company formed for the acquisition and led by the former president of the division, Jason W. Bradford.
Michael Haynes, the Chief Executive Officer of Collectors Universe, said, "Our currency division established an excellent brand in the collectible currency market.
However, as we began to forecast the relative size of authentication and grading services in the collectible currency market as compared to authentication and grading services in the other collectible markets in which we operate, we determined that the contribution from collectible currency would be relatively small when compared to the aggregate of the contribution from our other collectibles markets such as coins, sportscards and stamps.
Because we were proud of our accomplishments in the currency market and to maintain as much continuity of the business as possible, it was logical to sell PCGS Currency to Jason Bradford as not only the leader of the business, but one of the top currency experts in the world."
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