An American grading and authentication service is expanding its international presence.
Professional Coin Grading Service, a division of Collectors Universe Inc., is opening its first grading and authentication center in mainland China, PCGS officials announced April 4. The center will be located in Shanghai.
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 available locally in mainland China.
PCGS had not clarified at press time April 5 whether the firm will fly its graders to Shanghai for grading the coins (as it does for submissions to its Paris office) or use a different set of graders, locally based.
Multiple submission centers will be established and operated as part of the expansion. All services, including PCGS’s new Restoration service, will be available through the PCGS Shanghai initiative.
When asked for clarity about the dates of coins accepted and whether non-Chinese coins would be accepted at the China locations, Don Willis, PCGS president, said, “We will grade all coins.”
The move is intended to capitalize on the burgeoning Chinese numismatic market. In the modern realm, the collector hobby has been driving record mintage figures for modern Chinese Panda coins. In 2013, more than 11 million Panda gold and silver coins will be minted.
According to Willis, “Interest in collecting and investing in coins continues to grow in China.”
PCGS, he said, “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.”
The expansion is a partnership with a newly formed company called Shanghai Quanping Collectables Co. Ltd.
Quanping, operated by Yu Jiwei, the chairman of www.Jibi.net, will be the official and exclusive agency handling coin submissions on behalf of PCGS in mainland China, according to Muriel Eymery, PCGS vice president of international business development.
According to PCGS, Quanping’s Web 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.
Yu Jiwei said: “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.”
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. The Paris office regularly hosts PCGS graders to process submissions, with visits timed around important European coin shows.
For additional information about PCGS services in Asia (published in both Mandarin and English), visit www.PCGSAsia.com, telephone the Hong Kong office at 852-3960-6570 or, in the United States, call PCGS customer service at 949-833-0600. ■