Cga Changes Hands

Not a coin grading service but a banknote grading service, so I posted it here


Jess Lipka, owner of Currency Grading and Authentication announces that as of today, 4/13/09 CGA has been sold to John V. Spinelli. CGA's new office will be located in Westhampton Beach, New York. CGA, founded by Mr. Lipka and AP (Pat) Cyrgalis in 1998 was the first currency grading service and remains a leader in the industry today. Spinelli, a longtime Numismatist and CEO of JVS Coins & Currency had this to say about the acquisition " I look foward to the opportunity and challenges that lie ahead and to further enhance what I feel is the premier currency grading service. "I have always loved numismatics and collectible currency long before my many years of service with the Treasury Dept and this is an endeavor I do not take on lightly. I am truly excited about the opportunity to do my part to expand, and enhance the world of numismatics". Among the changes planned for the future is the implementation of a Paper quality designation. The new staff at CGA is commited to continuing to provide the top quality customer service and the rapid turnaround times customers expect from CGA. Lipka said, "It was my greatest honor in numismatics to show the world a successful business model to certify American currency, which has been copied by several competitors. I am selling a thriving business, only so I can devote more time to other projects and my family. I am very proud of CGA, and I know that I am placing the business in strong capable hands with full ability and financial integrity. I know that CGA will continue to be a leader in currency certification. The new owner has assembled several top experts and world class graders to help him in this endeavor. There will be a seamless transition and all orders will be forwarded to the new West Hampton office."