To celebrate its 20th anniversary, Professional Coin Grading Service has announced the PCGS 2006 World Series of Coin Trading, a competition with two $10,000 top prizes.
The fantasy adventure will allow contestants to build imaginary numismatic portfolios using a fake stake of $1 million.
The prize money, on the other hand, will be real.
?We?re asking collectors and dealers, ?What would you buy if you had a million dollars to spend on rare coins, and if some of the coins went sharply up or down in price, what would you sell and what coins would you buy in their place?? We?re looking for the best rare coin traders among professionals and collectors,? said David Hall, PCGS founder and president of Collectors Universe.
The PCGS 2006 World Series of Coin Trading will have two divisions of competition, one open to PCGS authorized dealers, the other for members of the PCGS Collectors Club. The contest will run from March 1 to Dec. 31.
The top professional and top collector whose hypothetical portfolios are the most profitable each at the closing of the competition will receive cash prizes of $10,000.
There also will be quarterly prizes of $1,000 awarded in each division to the traders whose portfolios go up the most in each of the three quarters ending June 30, Sept. 30 and Dec. 31.
?It?s a simple and exciting concept,? said Ron Guth, PCGS President. ?The prices of the coins will be based on the PCGS Online Price Guide and the availability of the coins will be based on the PCGS Population Report. You can buy and sell from your portfolio as often as you like, once a month or 10 times a day, trying to maximize the profits.?
There is no fee to participate in the contest. Complete details and an online registration form will be posted March 1 on the PCGS Web site at www.PCGS.com.
Since its founding in 1986, PCGS has authenticated and graded more than 12 million coins.
PCGS is a division of Collectors Universe, Inc.
