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NGC Sold To An Investment Firm

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 Posted 07/02/2021  10:35 am Show Profile   Check 47P7's eBay Listings Bookmark this topic Add 47P7 to your friends list Get a Link to this Message
*** Moved by Staff to a more appropriate forum. ***

check it out
https://www.businesswire.com/news/h...les-Industry
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 Posted 07/02/2021  10:45 am  Show Profile   Bookmark this reply Add Bump111 to your friends list Get a Link to this Reply
I hope this isn't a portent of bad tidings. Sometimes, these "holding" companies simply wring capital out of a business and then unload the carcass for dimes on the dollar. The fact that they hold only a portion of the business is a good thing - even if it is a majority stake. Since NGC remains a viable business, perhaps this is only an investment.
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 Posted 07/02/2021  10:51 am  Show Profile   Check GrapeCollects's eBay Listings Bookmark this reply Add GrapeCollects to your friends list Get a Link to this Reply
They weren't sold to an investment firm, they were sold to Blackstone. That's really, uhh, not great. Blackstone is extremely shady.
My best finds: 1999-WAM:http://goccf.com/t/332161 1988-RDV-6:http://goccf.com/t/335954#2873459 1986-Off-center: http://goccf.com/t/335952
1999 WAM #2:http://goccf.com/t/338710&whichpage=1
1981 Double Struck In Collar: http://goccf.com/t/350199&whichpage=1
ANA id: 3194067
My Type Set: https://www.NGCcoin.com/registry/co...sets/236574/
If you want to buy something or sell something or just talk, shoot me a PM!
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 Posted 07/02/2021  10:51 am  Show Profile   Bookmark this reply Add ijn1944 to your friends list Get a Link to this Reply
Wonderful, simply wonderful.
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 Posted 07/02/2021  10:55 am  Show Profile   Bookmark this reply Add IndianGoldEagle to your friends list Get a Link to this Reply
Not looking good for NGC. Always big changes with any buy out.
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 Posted 07/02/2021  11:19 am  Show Profile   Check Pacificoin's eBay Listings Bookmark this reply Add Pacificoin to your friends list Get a Link to this Reply
Salzberg and Eichenbaum ..
Laughing allllllll the wayyyyy to a very large bank !
Why does the collectibles boom all of a sudden start
to remind one of the dot.com bubble of the Early 2000s!?!?
Edited by Pacificoin
07/02/2021 11:19 am
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 Posted 07/02/2021  11:34 am  Show Profile   Bookmark this reply Add Zurie to your friends list Get a Link to this Reply

Quote:
Blackstone is extremely shady.


Blackstone is a large, publicly traded investment company. I'm not aware of anything controversial about them.
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 Posted 07/02/2021  11:56 am  Show Profile   Bookmark this reply Add jimbucks to your friends list Get a Link to this Reply
I wonder if David Hall will re-emerge after his mystery (fired?) disappearance from PCGS without explanation.
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 Posted 07/02/2021  12:15 pm  Show Profile   Bookmark this reply Add purelywasted to your friends list Get a Link to this Reply
This doesn't usually bode well for the customer, these funds usually load up on debt, sell off assets, cut costs and lower standards to generate increased cashflow.
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 Posted 07/02/2021  12:20 pm  Show Profile   Bookmark this reply Add jimbucks to your friends list Get a Link to this Reply
It gives ANACS an opportunity to re-invent themselves and re-emerge in the marketplace if they are aggressive and smart enough to seize the moment, but I wouldn't hold my breath.
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 Posted 07/02/2021  12:27 pm  Show Profile   Check Pacificoin's eBay Listings Bookmark this reply Add Pacificoin to your friends list Get a Link to this Reply
@jimbucks somewhat agree .
This is a huge opportunity for ANACS if they can seize
The moment .
Lately ( past year plus ) ANACS grading consistent
with reasonable pricing , awesome specials and
decent turn around .
An added plus , you can actually talk to the CEO at
ANACS !
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 Posted 07/02/2021  12:41 pm  Show Profile   Bookmark this reply Add ijn1944 to your friends list Get a Link to this Reply
Is this the Blackstone were talking about?
https://en.wikipedia.org/wiki/The_Blackstone_Group
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 Posted 07/02/2021  1:04 pm  Show Profile   Check Collects82's eBay Listings Bookmark this reply Add Collects82 to your friends list Get a Link to this Reply
One of the things I liked about NGC was they were privately held as it gave us customers a fighting chance as priorities were balanced. The customer is about to experience a downgrade. Blackstone's list of priorities (balance sheet and portfolio management) will slide the customer far down the list. In stating in the article that accelerating CCG growth is their goal, I take that to mean their focus isn't on improving things that matter to a lot of us, like consistency and accuracy of grading. Their recourses will be aimed elsewhere to make the balance sheet prettier.

C'mon ANACS. You guys haven't had an opportunity this golden in a looooooong time.

That being said, if I was Salzberg and Eichenbaum and just woke up with a 9-10 digit bump in my bank account, I wouldn't really care too much about the whining of others. They just got paid! I have to appreciate the capitalism in action on their end too. Well done, guys.
My hoard of '82s is up to 204! 218 BC x 1, 118 BC x 3, 18 BC x 1, 82 x 1, 182 x 1, 282 x 2, 382 x 1, 582 x 2, 682 x 1, 782 x 2, 882 x 1, 982 x 4, 1082 x 1 1182 x 8, 1282 x 2, 1382 x 1, 1482 x 5, 1582 x 13, 1682 x 15, 1782 x 57, 1882 x 49, 1982 x 33
Edited by Collects82
07/02/2021 1:10 pm
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 Posted 07/02/2021  1:07 pm  Show Profile   Bookmark this reply Add jimbucks to your friends list Get a Link to this Reply
In order for ANACS to really come on, they would need to change holder design and most importantly get CAC to begin stickering the new holders. But the latter is probably political and could be personality dependent.
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 Posted 07/02/2021  1:34 pm  Show Profile   Bookmark this reply Add Coinfrog to your friends list Get a Link to this Reply
Uh-oh.
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 Posted 07/02/2021  1:44 pm  Show Profile   Bookmark this reply Add Cdncoins to your friends list Get a Link to this Reply
PCGS parent was sold to private equity or "investors group" as well. These things could be good or bad. Hopefully they are smart enough to make improvements without wrecking the business.
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