NEWPORT BEACH, Calif., Feb. 27, 2014 (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 it had certified its 50 millionth collectible on February 26, 2014.
"We opened our doors for business in February 1986 and we received 18,000 coins for grading that very first month, a number far in excess of what we expected. The next month we received 35,000 coins, and we have been growing steadily since. Now just a few weeks after our 28th anniversary of being in business, we've reached the 50,000,000th milestone because collectors and dealers worldwide have put their trust in the assurance and market liquidity that Collectors Universe's expert, third-party grading and authentication provide," said David Hall, President and Founder of Collectors Universe.
"They've come to us year-after-year to certify the authenticity of some of the world's most valuable rare coins, trading cards, game-used baseballs, bats and other sports memorabilia, autographs and historical documents."
Robert Deuster, Chief Executive Officer, added, "This milestone is a very significant one for Collectors Universe that reflects the success of the business since its founding in 1986 and the confidence collectors have in our services and brand which enhance the security and values of their collectibles."
Since its founding in 1986, the Professional Coin Grading Service (PCGS) division of Collectors Universe has examined, authenticated and graded nearly 28 million coins with a combined estimated market value of over $27 billion. These include the world's most valuable rare coin sold at auction, a 1794-dated silver dollar believed to be the first silver dollar ever struck by the United States Mint that was sold for $10 million in 2013.
PCGS experts also certified the authenticity and grade of the buried treasure trove of more than 1,400 gold coins found in California that generated international headlines this past week.
Since its founding in 1991, the Professional Sports Authenticator (PSA) and PSA/DNA Authentication Services divisions have certified over 22 million trading cards, sports memorabilia items and autographs with a combined estimated market value of over $1 billion. Among the PSA and PSA/DNA certified items are the baseball bat that sold for $1.2 million in 2004 that was used by Babe Ruth in 1923 to hit the first home run in the original Yankee Stadium. And at the request of the NFL, PSA/DNA has authenticated all of the footballs used in more than a dozen Super Bowl games.
After certification by Collectors Universe, coins and trading cards are sonically-sealed in durable, tamper-evident plastic holders that provide optimum protection for safe, long-term storage.
The landmark achievement of certifying the 50 millionth collectible took place at the American Numismatic Association National Money Show in Atlanta, Georgia on February 26, 2014, when the Company certified the authenticity and grade, PCGS Mint State 66+, of a Morgan silver dollar struck in 1888 at the New Orleans Mint. It was submitted by Mike Newman of Augusta, Georgia, a member of the PCGS Collectors Club and a participant in the PCGS Set Registry® program.
A special insert label that reads, "Collectors Universe 1986 - 2014 50,000,000 Coins, Cards & Autographs Graded," was used when PCGS encapsulated the coin. In recognition of the milestone and as a symbolic representation of the year PCGS was founded, the Company is awarding the submitter a 1986-dated proof American Eagle gold one-ounce bullion coin.
About Collectors Universe
Collectors Universe, Inc. is a leading provider of value-added services to the high-value collectibles markets. The Company authenticates and grades collectible coins, trading cards, event tickets, autographs, and memorabilia ("collectibles"). The Company also compiles and publishes authoritative information about United States and world coins, collectible trading cards and sports memorabilia, and operates its CCE dealer-to-dealer Internet bid-ask market for certified coins and its Expos trade show and conventions business. This information is accessible to collectors and dealers at the Company's website, http://www.collectors.com and is also published in print.