ANA OKs Certified Collectibles Group contract
- Published: Jan 3, 2012, 7 PM
The nation’s largest coin collector organization, the 28,000-member American Numismatic Association, and Certified Collectibles Group have agreed to a five-year extension that designates Numismatic Guaranty Corp., Paper Money Guaranty and Numismatic Conservation Services as the ANA’s official grading and conservation services.
The value of the contract was not disclosed. According ANA President Tom Hallenbeck, the ANA Board decided not to disclose how much the ANA will receive monetarily for the paid endorsement, despite the fact that such information has been disclosed for previous contracts.
Hallenbeck said Dec. 23 that members of the ANA Board felt disclosure may in some way negatively affect future contract negotiations.
The ANA operated ANACS, its own coin grading service, from 1979 until mid-1990 when it sold it. In August 1995 ANA moved to endorse a single third-party coin grading service and entered into an exclusive contract with NGC for a reported $1,375,000 to be paid over a five-year period.
The contract was renegotiated in 1996 with NGC guaranteeing to pay ANA a $100,000 yearly royalty plus a 22 percent rebate on grading fees for coins submitted by ANA members (replacing the terms in the 1995 contract). The contract negotiated in 1996 was for three years with an option to extend it for two more years.
The contract, including conservation services, was extended in 2002 for five years with ANA receiving $140,000 in 2002, $150,000 in 2003, and $160,000 for each of the years 2004, 2005 and 2006.
The most recent five-year contract, signed in June 2007, added paper money grading to coin grading and conservation services for an annual payment to ANA of $350,000.
Steve Eichenbaum, CEO of CCG, said of the new contract, “We are very excited about our continued relationship with the ANA, and we are honored to be the only service to ever have this designation.”
Eichenbaum added, “The ANA and CCG share a common commitment to the advancement and betterment of the hobby, and we are happy to support the ANA’s efforts.”
Under terms of the new agreement ANA members can continue to submit coins and paper money directly to NGC, PMG and NCS without going through a third party — one of the most popular ANA membership benefits.
CCG’s independent member companies will also work with items in the ANA’s Edward C. Rochette Money Museum collection — conserving 500 coins, grading 500 coins and grading 500 notes each year. Most graded items will be encapsulated in NGC’s museum holders, with a special ANA museum collection label.
Hallenbeck said, “This agreement will continue the beneficial partnership between the ANA and NGC, which has allowed the museum to protect its Bebee Collection of Paper Money as well as provide better housing for its high-value coins.”
The three services will also serve as title sponsors for the ANA’s World’s Fair of Money and for the National Money Shows for the five-year period. In addition, CCG will provide instructors in grading and conservation for a number of ANA educational programs, including the annual Summer Seminar and ANA conventions. ¦
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