Collectors Universe

Collectors Universe Inc. (NASDAQ: CLCT) is an American company formed in 1986, now based in Santa Ana, California, which provides third-party authentication and grading services to collectors, retail buyers and sellers of collectibles. Its authentication services focus on coins, trading cards, sports memorabilia, and autographs. The company reached the combined total of 75 million certified collectibles in 2019. Collectors Universe is also a publisher in fields relating to collecting.[1]

Collectors Universe Inc.
TypePublic
NASDAQ: CLCT
Russell Microcap Index component
IndustryBusiness Services
Founded1986 (1986)
Headquarters
Santa Ana, California
,
United States
Key people
Joseph Orlando
( Chief Executive Officer, and President )
Joseph J. Wallace ( Chief Financial Officer, and Principal Accounting Officer) (January 2020)
Revenue$75.17M (January 2020)
Number of employees
450+ (January 2020)
Websitewww.collectors.com

The company engages in business-to-business market for certified coins under Certified Coin Exchange, and a business-to-consumer under Collectors Corner. PCGS Coin Authentication and Grading Services focuses on coins market and have authenticated and graded over 42.5 million coins, medals, and tokens with an estimated market value of over $36 billion.

History

In 2000, Collectors Universe acquired James J. Spence, Jr.'s sports autograph authentication company and later acquired privately held Odyssey Publications Inc.[2]

In February 2009, Collectors Universe sold its currency authentication and grading division to a new company formed for the acquisition. On January 30 2019 it took back the division and has rebranded it PCGS Banknote.[3][4]

In October 2012, Collectors Universe's division PCGS (Professional Coin Grading Service) authenticated the 25 millionth coin (PCGS Secure Plus MS65) from Japan, being a historical milestone of the company performance.[5] Professional Sports Authenticator (PSA) focuses on sports and trading cards market. PSA/DNA Autograph Authentication and Grading Services focuses on the autographs and memorabilia market. In the publishing field, the company publishes Rare Coin Market Report and Sports Market Report monthly.[6][7]

During the 2020 COVID-19 pandemic in the United States, Collectors Universe Inc. requested and secured a $4,204,300 forgivable loan under the Paycheck Protection Program set up by the US Congress and signed by President Donald Trump.[8] Collectors Universe Inc. subsequently returned the loan money they had received back to the treasury by May 2020.[9]

In November 2020, it was announced that Collectors Universe would be taken private in a $700 million all-cash buyout by hedge fund manager Steve Cohen, D1 Capital Partners, and collector Nat Turner in the first quarter of 2021. Among the reasons for the purchase was increased interest in collecting by consumers during the COVID-19 pandemic.[10]

References
  1. "Business Summary".
  2. "Collectors Universe Acquires Odyssey Publications Inc".
  3. "Collectors Universe Sells PCGS Currency Division".
  4. "PCGS Banknote Accepting Paper Money Submissions January 2020".
  5. "PCGS Milestone: 25 Million Coins Certified Worldwide".
  6. "Company Full Description".
  7. "Rare Coin Market Report".
  8. "32 Millionaire CEOs Who Scooped Up Taxpayer Money Meant for Small Businesses".
  9. https://www.nbcnews.com/news/amp/ncna1194566
  10. https://www.bloomberg.com/amp/news/articles/2020-11-30/steve-cohen-and-d1-capital-team-up-to-buy-collectors-universe
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