Collectors Universe Sells Currency Grading Division

The parent company of PSA and PSA/DNA has sold its collectible currency grading and authentication arm.

Collectors Universe, Inc. (Nasdaq: CLCT) has 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.

"Our currency grading division had established an excellent brand in the collectible currency market," said Michael Haynes, Chief Executive Officer.

"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."

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