Collectors Universe Sells Currency Grading Division to New Company Led By Former Division President
NEWPORT BEACH, Calif., Feb. 5 /PRNewswire-FirstCall/ -- Collectors Universe, Inc. (Nasdaq: CLCT), 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 its currency authentication and grading division to a new company formed for the acquisition and led by the division's former president, Jason W. Bradford.
Michael Haynes, the Chief Executive Officer of Collectors Universe, said, "Our currency grading division had 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 the collectible currency grading business would be relatively small. Because we were proud of our accomplishments in the currency market and to maintain as much continuity of the business as possible, we believed it to be logical to sell the business to Jason Bradford, who is one of the top currency experts in the world."
About Collectors Universe
Collectors Universe, Inc. is a leading provider of value added services to the high-value collectibles and diamond and colored gemstones markets. The Company authenticates and grades collectible coins, sports cards, autographs, stamps, currency, diamonds and colored gemstones. The Company also compiles and publishes authoritative information about United States and world coins, collectible sports cards and sports memorabilia, collectible stamps, diamonds and colored gemstones. This information is accessible to collectors and dealers at the Company's web site, http://www.collectors.com, and is also published in print.
SOURCE Collectors Universe, Inc. - 02/05/2009
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