New NGC Submission Center Opens in China
In Guangzhou, China, a new company has been established to operate a submission center for Certified Collectibles Group companies, NGC, NCS and PMG. Guangzhou National Standard Numismatic Collection Grading Co., Ltd opened formally in June 2009 and is now accepting submissions. The new organization is allied with the Guangdong Province Coin Collection Association, the most active and widely-known numismatic association in China.
A submission center serves dual roles. First, they assist both collectors and dealers with the submission process, handling international transport and insurance to Certified Collectibles Group (CCG) headquarters in Sarasota, Florida. Second, in the countries that they operate, they provide information about certification services provided by CCG.
“Removing barriers and making it easy to send collectibles to us for certification from anywhere in the world is a central component of our growth internationally. Already, considerable interest is being shown for certified coins and currency in China and we are very fortunate to have formed this partnership with an exceptional group of professionals in Guangzhou,” comments Steve Eichenbaum, CEO of Certified Collectibles Group.
In China, easy access to professional certification services will help the market expand and develop. Already among coin collectors, the Chinese market has emerged as an important segment, due in part to the considerable popularity of the Chinese Panda bullion program and the innovative 22-coin Beijing Olympics commemorative program.
The accurate and consistent application of grading standards makes it easy for buyer and seller to agree on an item’s condition allowing for smooth transactions across wide geographic distances and using online exchanges. Collectors of Chinese coinage have shown a preference for NGC-certified coins due to NGC’s leadership position in the marketplace worldwide and because of NGC’s guarantee of authenticity. NGC provides a money-back guarantee should a coin that they have certified be determined to be not genuine, removing significant risks for collectors and increasing buyer confidence.
An opening celebration was held to announce the launch to the media and numismatic professionals on June 1, 2009. More than a hundred Chinese and foreign experts, coin dealers and invited guests were present. Mr. Zhen Wei Gang, president of the Guangdong Province Coin Collection Association, concluded the opening presentation with his address in which he stated: “With China’s rapid economic and cultural development, the Chinese coin industry has also expanded rapidly. The outlook is very positive; trading continues to become more diverse and more active. Certification will help to foster the continued development of the Chinese coin market. This new venture is a major step to promote and facilitate stability for the Chinese coin market and to assure sustainable development.”
More information about Guangzhou National Standard Numismatic Collection Grading Co., Ltd. can be found on their Web site, www.gbngc.com.
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