Collectors Universe Sells Currency Grading Division to New Company Led By Former Division President
 

FROM:
http://biz.yahoo.com/prnews/090205/la67167.html?.v=1

Press Release Source: Collectors Universe, Inc.

Collectors Universe Sells Currency Grading Division to
New Company Led By Former Division President

Thursday February 5, 8:30 am ET

NEWPORT BEACH, Calif., Feb. 5 /PRNewswire-FirstCall/ -- Collectors
Universe, Inc. (Nasdaq: CLCT - News), 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.

Contact:
Joe Wallace
Chief Financial Officer
Collectors Universe
949-567-1245
Email:


...

Collectors Universe Sells Currency Grading Division to NewCompany Led By Former Division President
 

Bottom line: not enough volume to make it worthwhile to the
company.

This is not surprising since there are a lot fewer pieces of
collectable currency out there worthy to slab
than there are for coins.