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Numismatist of the Century
David Hall
The visionary who revolutionized the rare coin market by founding PCGS and transforming coin collecting from a hobby into a trusted, transparent industry.
The Man Who Changed Everything
David Hall entered professional numismatics in 1966 and became a full-time rare coin dealer in 1972. By 1977, he had founded David Hall Rare Coins, and two years later launched his newsletter David Hall’s Inside View—which at its peak reached 130,000 readers per month.
But Hall’s greatest contribution was yet to come. In the mid-1980s, the coin market was plagued by rampant overgrading and fraud. Collectors were getting ripped off, and the FTC had begun investigating coin telemarketing firms. Hall assembled a brain trust of trusted dealers and set out to fix it.
The result was the Professional Coin Grading Service (PCGS)—an idea that would transform the entire industry.
The Birth of PCGS
How a late-night hotel room meeting launched a revolution
The Meeting
At the Summer ANA convention, Hall and his partners—Gordon Wrubel, John Dannreuther, Bruce Amspacher, Steve Cyrkin, Sil DiGenova, and Van Simmons—presented their concept to prominent dealers in a late-night hotel room. The response was immediate and enthusiastic.
PCGS Launches
With $100,000 in initial funding split among seven founders and 32 authorized dealers, PCGS opened its doors—and was immediately flooded with submissions. They expected 3,000 coins per month. They received 18,000 in month one and 35,000 in month two.
PSA Founded
Hall extended the third-party grading concept to sports cards with Professional Sports Authenticator (PSA), which would become the dominant authentication service for the sports collectibles market.
Collectors Universe IPO
David took Collectors Universe public on NASDAQ under ticker CLCT. That same year, he received the ANA Presidential Award and was named one of the top “Numismatists of the Century” by COINage Magazine.
CMQ Launches
Hall partnered with Stack’s Bowers Galleries CEO Greg Roberts to launch Collectible Market Qualified (CMQ), identifying the highest-quality graded coins with a tamper-resistant hologram sticker of approval.
Three Innovations That Changed the Game
PCGS didn’t just grade coins—it created an entirely new market infrastructure
Tamperproof Encapsulation
Every coin sealed in a hard plastic holder that guaranteed the coin inside was the one graded and in the same condition as when examined. Protection, authentication, and trust in one innovation.
Authorized Dealer Network
Dealers were required to accept PCGS-graded coins at the grade shown on the holder for sight-unseen trading. This created real liquidity and gave meaning to bid prices for the first time.
Live Trading Market
The American Numismatic Exchange—known as “Annie”—let dealers buy and sell coins on a live exchange, with reliable pricing that attracted institutional investors to the coin market.
“For the first few years I always described it as having a tiger by the tail… but the tiger was really big… and it was definitely pulling us in its own direction. The idea really had a life of its own.”
— David Hall, on PCGS’s explosive growth
David Hall Rare Coins
A partnership built on decades of trust and expertise
David Hall
Founder
Widely recognized as one of the greatest and most influential numismatists of all time. Founder of PCGS, co-founder of PSA, named Numismatist of the Century by COINage Magazine. Specializes in portfolio construction and acquiring the world’s finest rare coins.
Van Simmons
President
Described as “the leading coin merchant of his time.” A rare coin collector since age 12 and dealer since 1979. Co-founder of PCGS. Many of his clients have been with him for over 30 years, a testament to his reputation for integrity and expertise.
Gem-quality U.S. rare coins graded MS65 or higher
Buy-Back-at-Grade on all purchases
Newport Beach / Santa Ana, California
In His Own Words
Quotes from David Hall’s six decades in numismatics
“In the mid-1980s the coin market was plagued by a big problem with product mis-representation. To put it bluntly, a lot of people were getting ripped off.”
On why PCGS was needed
“Our biggest success is in making the market available for many who wouldn’t even consider buying coins… if it weren’t for third-party grading.”
On PCGS’s lasting impact
“I love to buy coins and I love to sell coins. I love to talk about coins and I love to write about coins. I can’t turn off my idea machine.”
On his passion for numismatics
“If you’re going to be successful in collectibles, specialize intensely.”
Collecting philosophy
Frequently Asked Questions
About David Hall, PCGS, and the grading revolution
What is PCGS and why does it matter?
The Professional Coin Grading Service (PCGS) is the world’s leading third-party coin grading, authentication, and encapsulation service. Founded by David Hall in 1986, PCGS brought standardized, objective grading to the rare coin market—replacing subjective opinions with a trusted 1-70 scale. PCGS has graded over 42.5 million coins valued at more than $36 billion, and its grades are universally accepted for sight-unseen trading.
What made PCGS different from grading services before it?
Before PCGS, grading was subjective and inconsistent. PCGS introduced three key innovations: tamperproof plastic encapsulation that preserved and authenticated the coin, a network of authorized dealers required to honor PCGS grades sight-unseen, and a live trading exchange that created real market liquidity. These innovations turned rare coins into a standardized, tradeable asset class.
What is CMQ (Collectible Market Qualified)?
CMQ is David Hall’s latest venture, launched in 2023 in partnership with Stack’s Bowers Galleries CEO Greg Roberts. CMQ evaluates already-graded coins for quality, eye appeal, and grade accuracy. Coins that meet their standards receive a tamper-resistant hologram sticker. Both Stack’s Bowers and David Hall Rare Coins actively buy and sell CMQ-stickered coins, providing market liquidity. Learn more at cmq.stacksbowers.com.
Who is Van Simmons?
Van Simmons is David Hall’s longtime business partner and President of David Hall Rare Coins. A rare coin collector since age 12 and dealer since 1979, Simmons was one of the co-founders of PCGS. He is described as “the leading coin merchant of his time” and specializes in portfolio construction, set building, and helping clients acquire the finest rare coins.
What does David Hall Rare Coins specialize in?
David Hall Rare Coins focuses on gem-quality U.S. rare coins graded MS65 or higher—the top 5-10% of the certified population. They offer a Buy-Back-at-Grade Guarantee on all purchases and are located in Newport Beach/Santa Ana, California.
Start Building Your Collection
Whether you’re a seasoned collector or just beginning, Elite Coin Group can help you navigate the market with the same expertise and integrity David Hall brought to the industry.