PCGS was founded in 1985 by seven dealers, including the firm's president, David Hall. The founders' intent was to establish definitive grading standards, backed by a guarantee of grading accuracy. PCGS began operations on February 3, 1986. The firm has since started grading foreign coins and established divisions in Europe and Asia, and was purchased by Collectors Universe.
PCGS is responsible for dramatic improvements throughout the rare coin industry which have forever changed the way rare coins are bought and sold. In addition to standardized grading, PCGS offered a cash-back grading guarantee, problem-free coins, safe long-term storage, and sight-unseen trading. Together, these elements have created unprecedented public support for the rare coin industry.