Real estate developer and philanthropist Dell Loy Hansen is the founder and chief executive officer of the Wasatch Group. He is an avid coin collector, the previous owner of Real Salt Lake, and is now a financial partner in the new full-fledged grading service being introduced by Certified Acceptance Corporation (CAC).
Do you like the Professional Coin Grading Service (PCGS) and the Numismatic Guaranty Company (NGC)?
Absolutely. The practice of third-party grading instills confidence in collectors as far as authenticity and the condition of the coin. It’s an imperative and invaluable part of the hobby of coin collecting.
What drew you to collect coins and do you collect anything else?
When I was a kid, I would go through rolls of pennies and coins looking for ’43 steel pennies. As a young man, I saved silver dollars while working during the summers. Then in my 30s, I started to collect type sets. It wasn’t until 2016 that I was able to start purchasing Saint-Gaudens double eagle gold pieces from local coin dealers. Now [collecting coins] is much more than a hobby. It’s part of who I am. And it’s an important investment that will support others when I am no longer here.
Why did you get involved with a financial stake in CAC Grading and what do you foresee as CAC’s future?
I’ve always enjoyed the process of developing and helping businesses understand how to run more effectively and efficiently. When the opportunity was presented to become a financial partner with the new CAC Grading, I was grateful for the opportunity to work with and support a group that values the preservation of numismatics with strong ethical outlooks. The best of the best are associated with this new company; so I expect a great future.
Do you expect CAC to certify items other than coins? If so, please give a few examples.
I think the first and foremost focus is coins. I’m aware of the passion of collectors of all different types of collectibles; and at some point, I’d expect CAC would naturally find its way into other fields. I’m looking forward to growing the coin side of the business.
How can we get more people to collect coins?
I think anything you have a passion for is a great start. You naturally want to share what you love with others. For me, this hobby has formed so many wonderful new and life-long friendships.
My enthusiasm to collect has been greatly influenced by others who have willingly shared their knowledge and passion for coins. Continuing to teach others about the hobby and about collecting, as well as showing them that it’s not only a worthwhile hobby, but a solid investment will inevitably turn heads and bring about new collectors.
Do you expect CAC’s quality standards to exceed those of its competitors?
I joined CAC because I knew that the leaders there were of the highest integrity. I also realize that the concept of grading is subjective, but only to a point. Large private equity companies have one mandate: to increase profits. And as a result, gradeflation is an inevitability. Unfortunately, market grading and gradeflation can only damage the hobby in the long term, as it negatively impacts individual coin values.
While I want CAC to become profitable, and I know it will, I also view it as a company that can stand on the right side of difficult decisions. With its focus on collectors and the hobby in general, I think that it will be able to maintain a singular long-term focus on maintaining strict and accurate standards.
This article about Dell Loy Hansen previously appeared in COINage magazine. To subscribe click here.
