Numismatic Guaranty Corporation® (NGC®) has announced that it has extended its submission agreement with Guojin Gold Co., Ltd. (Guojin), one of the largest distributors of gold and silver products in China.
NGC and Guojin began to work together in early 2016 on a program to offer NGC-certified Chinese Gold and Silver Panda coins to clients of Chinese banks. The collaboration exceeded both companies’ expectations and resulted in hundreds of thousands of NGC-certified coins being sold through Chinese banks over the course of the year.
As a result of this tremendous success, the companies recently agreed to extend their submission agreement. NGC and Guojin have elevated their relationship to that of Strategic Partners and will work closely to promote NGC-certified coins to collectors and investors in China over a number of years.
In addition, NGC has appointed Guojin the exclusive distributor of NGC-certified coins to Chinese banks. This appointment gives Guojin the sole right to sell NGC-certified coins to Chinese banks, submit coins to NGC on behalf of Chinese banks and market NGC-certified coins within the Chinese bank channel.
NGC is expected to receive more than $20 million in grading fees from Guojin over the next few years, depending on exchange rates.
“Guojin has an outstanding record of developing superb gold and silver products for collectors and investors in China,” says Steven R. Eichenbaum, CEO of NGC. “They have been a great partner of NGC’s for more than a year and we are excited to build upon our past success.”
“NGC has an impeccable reputation for providing the highest-quality grading and encapsulation services,” according to a statement from Guojin. “We look forward to working with them for many more years.”
Submissions to NGC in China are handled by NGC Shanghai Business Information Consulting Co., Ltd. (NGC Shanghai), NGC’s wholly owned Chinese subsidiary. For more information about NGC Shanghai, visit NGCcoin.cn.
NGC Chinese Gold Panda Coins Currently Available on eBay