Collectors Finance Corp. Increased Loans
(Santa Ana, California) – Collectors Finance Corporation (CFC) has increased its loan-to-value rates to offer collectors and dealers additional cash for loans on PCGS-certified coins held as collateral.
“We’re now lending 75 percent of the value of PCGS-graded generic gold and vintage coins; 65 percent on certified modern coins; and 80 percent of metal value on certified bullion coins,” said Mike Lewis, President of CFC, a division of Collectors Universe, Inc. (NASDAQ: CLCT).
“Our key dealers requested that we increase our loan-to-value rates so they could have more opportunities to participate in the hot market for high-end, vintage coins. We’ve been able to increase these rates for coins because of their recent history of limited negative-price variability and their improved market liquidity.”
The interest rate charged by CFC is Prime Rate plus four percent, and loans can be made for a maximum term of one year.
For additional information, contact Mike Lewis at Collectors Finance Corporation by phone at (888) 469-2646 extension 375 or by e-mail at [email protected]
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