(Santa Ana, California) - Financing collectibles purchases now is easier. In an unprecedented new program offered by Collectors Finance Corporation (CFC), collectors and dealers now can obtain loans on certified rare coins, paper money, stamps, sports collectibles, diamonds and colored gem stones as well as get free, secured storage of the collateral.
CFC is a division of Collectors Universe, Inc. of Santa Ana, California (NASDAQ: CLCT).
"CFC can finance new purchases and provide loans against existing items, and we'll pay the storage fees at First State Depository Company of Wilmington, Delaware. It's a combination of services never before available to collectors and dealers," explained Mike Lewis, President of Collectors Finance Corporation.
"Usually, a borrower must pay the depository fee to have collateral held during the term of the loan. Under this unprecedented new program, CFC will pay the fees to First State Depository as the approved custodian for the collateral on loans CFC makes to finance certified collectibles." First State Depository is a private depository company offering a full range of specialized custody, shipping and accounting services to commercial firms and individuals.
Only collectibles certified by a division of Collectors Universe can qualify for a loan and storage under this convenient, unparalleled new program. The subsidiaries are Professional Coin Grading Service (coins and bullion); PCGS Currency (bank notes); Professional Sports Authenticator (sports and trading cards); PSA/DNA Authentication Services (sports memorabilia, photographs and autographs); Professional Stamp Experts (stamps); Gem Certification and Assurance Lab (diamonds); and American Gemological Laboratories (colored gem stones).
Loan amounts range from 35 up to 80 percent of the market value of the collateral based on the type of the collateral, and loans can be made for up to one full year.