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Palmieri completes acquisition of GCAL

April 08, 2009

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New York--The Palmieri Group, led by well-known gemologist Don A. Palmieri, has concluded its acquisition of the Gem Certification and Assurance Lab (GCAL) and other assets from Collectors Universe Inc.

Collectors Universe, a company that focuses on the valuation of collectibles such as baseball cards and autographs, bought the lab from Don and Pam Palmieri in 2005, but decided to exit the gem-grading business earlier this year due to unfavorable economic conditions.

Under Collectors Universe's ownership, the lab developed the "GCAL Zero Tolerance 4C's Guarantee" and became the first North American gem lab to become certified "ISO 17025 Laboratory Accredited," according to a press release issued by GCAL on Wednesday.

While the lab enjoyed success as part of Collectors Universe, the Palmieris, who founded the lab in 2001, are happy to be back in "total control," the release states.

"We are very fortunate to have a virtual 'dream team' of experienced and professional gemologists, customer service, fulfillment and IT professionals, as well as good old, home-grown management that always protects the integrity and high ethics of the company," Don Palmieri said in the release.

For more information on the lab's transition, contact Don, Pam or Angelo Palmieri at (212) 869-8985 or visit Gemfacts.com.

Collectors Universe also owned American Gemological Laboratories, which has been sold to and will continue to operate under the leadership of Christopher P. Smith.

Smith served as vice president and chief gemologist of the lab for two years before Collectors Universe opted out of the gem-grading business.
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