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Category Archives: Professional Numismatists Guild (PNG)

Experts’ Three Tips To Avoid Gold Scams – According to Professional Numismatists Guild

(Temecula, California) September 12, 2017 – Following the recent fraud charges filed by the Commodity Futures Trading Commission against a California gold seller, a trade group composed of veteran precious metals experts is urging investors to take three important steps before making any purchases of gold, silver or platinum ​bullion ​coins or ingots.
 
“To avoid paying too much when you buy or receiving too little when you sell, and to avoid potential scams, investors absolutely must know the credentials of the bullion dealer, not just what the dealer may tout on TV advertisements or with a fancy website,” cautioned Barry Stuppler of Woodland Hills, California, President of the nonprofit Professional Numismatists Guild (www.PNGdealers.org).  “If you don’t know gold, you’d better know your gold dealer,” Stuppler emphasized.
 
The Temecula, California-based Professional Numismatists Guild (PNG) was founded in 1955.  Two years ago, PNG established an Accredited Precious Metals Dealer program, APMD (www.APMDdealers.org), to provide consumer and investor protection in the marketplace.  APMD members must adhere to a strict Code of Ethics (https://apmddealers.org/apmd-code-of-ethics/) in the buying and selling of precious metals. The firm that was recently sued by the CFTC is not a member of the APMD program.
 
“The second step investors must take is know the current spot price of the precious metal they want to buy or sell. Bullion items, such as the American Eagle, Canadian Maple Leaf and South African Krugerrand usually sell for only about three to five percent above the current spot price depending on the quantity purchased. Beware of high-pressure selling prices that would force you to wait for gold or silver to double or triple in value before you could make a profit,” warned Stuppler.
 
“The third step is to take prompt delivery of the bullion items you purchase. Be wary of sellers who want to keep and store your gold, or claim it will take months to deliver items to you. The reason many people buy precious metal coins and ingots is because of their liquidity, but if you don’t have possession of the items then you can’t act quickly when you want to sell,” said Stuppler who also is President of the California Coin and Bullion Merchants Association.
 
For additional information about the Accredited Precious Metals Dealer program, call the Professional Numismatists Guild at 951-587-8300 or visit www.APMDdealers.org. A list of APMD member-dealers is online at https://apmddealers.org/apmd-dealers

Barry Stuppler Selected As New PNG President

(Denver, Colorado) August 1, 2017 – Officers of the Professional Numismatists Guild (www.PNGdealers.org) have selected Barry Stuppler to be the organization’s President for the 2017 – 2019 term. Stuppler was selected during the PNG Board of Directors meeting in Denver, Colorado on July 30, 2017.

He is President of Stuppler & Company, Inc. in Woodland Hills, California as well as President of the California Coin and Bullion Merchants Association and Chairman of the Gold and Silver Political Action Committee.  He also is a former President of the American Numismatic Association (ANA).

“One of the first projects I want to launch during my presidency is to have PNG jointly work with the ANA and the United States Mint to create for April 2018 the largest, most exciting National Coin Week we’ve ever seen. Virtually everyone is interested in ‘money.’  We need to capture the public’s underlying interest and show them the enjoyment of numismatics,” said Stuppler.

Other goals during his presidency will be on-going counterfeit detection and fraud detection educational programs for PNG members, and increasing the benefits of PNG membership. Stuppler also wants to establish professional marketing programs for PNG and the PNG Accredited Precious Metals Dealer program (PNG-APMD).

The other PNG officers selected for the 2017 – 2019 term are: Vice President Richard Weaver of Delaware Valley Rare Coin, Broomall, Pennsylvania; Treasure Wade Milas of RARCOA, Willowbrook, Illinois; and Secretary James A. Simek of Numisgraphic Enterprises, Westchester, Illinois.

In addition to the officers, PNG Board members for the new term are Immediate Past President Dana Samuelson of American Gold Exchange, Austin, Texas and three new Board members: John Brush of David Lawrence Rare Coins, Virginia Beach, Virginia; Brett Charville of Standard Numismatics, Chicago, Illinois; Don Ketterling of D.H. Ketterling Consulting, Reno, Nevada; and Don Rinkor of Rinkor Rare Coins, Santa Rosa, California.

“Under PNG Bylaws, member-dealers of the organization elect the board members at large, and then the elected board members select the officers from within their group. During their July 30, 2017 meeting in Denver, Colorado the nine-member board chose the President, Vice President, Treasurer and Secretary,” explained PNG Executive Director Robert Brueggeman.

Founded in 1955, the Professional Numismatists Guild is a nonprofit organization composed of many of the country’s top rare coin and paper money dealers.  A directory of dealers, the PNG Member Code of Ethics and the organization’s Collector’s Bill of Rights can be found at www.PNGdealers.org.

For additional information, contact the PNG by email at info@PNGdealers.org or by phone at 951-587-8300.

Beth Deisher Honored With 2017 PNG Lifetime Achievement Award

(Denver, Colorado) July 31, 2017 – The Professional Numismatists Guild (www.PNGdealers.org) presented its 2017 PNG Lifetime Achievement Award to prominent and influential hobby leader Beth Deisher.  The award was announced during the PNG’s annual banquet held this year in Denver, Colorado on July 31, 2017.

Robert Brueggeman, Beth Deisher, Barry Stuppler

Deisher is the Anti-Counterfeiting Task Force Director of the Industry Council for Tangible Assets (www.ictaonline.org).  She was the award-winning Editor of Coin World for 27 years until her retirement in 2012. Over the years Deisher also has conducted workshops and classes on the problems of counterfeit coins produced in China.

These are the other 2017 awards and winners announced at the PNG Denver banquet.

The Robert Friedberg Award for an outstanding book or other literature was jointly presented to authors Pete Smith, Joel J. Orosz and Leonard Augsburger for their reference book, 1792: Birth of a Nation’s Coinage, published by Ivy Press.

The Sol Kaplan Award was presented to four people this year: Bill Walker, a Senior Numismatist at Heritage Auctions in Dallas, Texas, and jointly to three Missouri law enforcement officials: Sheriff Cory Hutcheson, Chief Deputy Branden E. Caid and Captain Barry Morgan, all of the Mississippi County Missouri Sheriff’s Department.

In early 2017 while in Florida, Walker recovered and subsequently returned to their grateful owner five rare coins that had been stolen a year earlier, apparently while in transit in the United States Postal Service mail.  The coins had a combined value of about $30,000.

In a separate case, Sheriff Hutcheson, Chief Deputy Caid and Captain Morgan successfully tracked down a collector in Florida whose rare coins were stolen four decades earlier when he was a youngster in Charleston, Missouri in 1972.  During a January 2017 search of the Southeast Missouri home of a drug case suspect, the officers discovered and recovered about two-thirds of the coins stolen 45 years earlier. Through perseverance and solid detective work the officers were able to return the coins, some still housed in their familiar blue Whitman folders, to the now adult and quite surprised collector. 

The Kaplan Award recognizes efforts and contributions in combatting crimes against the numismatic community, and is jointly presented by the PNG and the Lewis M. Reagan Foundation.  It is named after a former PNG President and Ohio dealer who was personally responsible for the apprehension of several people suspected of committing numismatic-related crimes. 

John Maben of JFM Trading, LLC in Lakewood Ranch, Florida received the Significant Contribution Award. It is given to those who have made exceptional, beneficial efforts over the years on behalf of PNG and the profession, and added to the hobby.

Christine Karstedt, Executive Vice President of Stack’s Bowers of Stack’s Bowers Galleries, received the Art Kagin Ambassador Award. This award is named after a former PNG President and nationally-known Iowa dealer who provided distinguished service as an advocate of numismatic goodwill. 

PNG Legal Counsel Armen Vartian of Manhattan Beach, California, was recognized during the banquet for 25 years as a PNG Affiliate Member.

The Professional Numismatists Guild is a nonprofit trade association composed of the country’s top rare coin and paper money dealers who must adhere to a strict Code of Ethics in the buying and selling of numismatic merchandise.  The organization also has an Accredited Precious Metals Dealer program (http://apmddealers.org).  For additional information, contact Robert Brueggeman, PNG Executive Director, 28441 Rancho California Road, Suite 106, Temecula, CA 92590. Phone: (951) 587-8300. Email: info@PNGdealers.org.  Online: www.PNGdealers.org.

 

PNG statement on passing of Leon Hendrickson

“The Professional Numismatists Guild (www.PNGdealers.org) was saddened to learn of the passing of long-time member Leon Hendrickson of Winchester, Indiana.  Hendrickson joined the PNG in 1970, served as the organization’s president from 1985 to 1989 and received the PNG Lifetime Achievement Award in 2003.  He was one of the first members approved as a PNG Accredited Precious Metals Dealer when the PNG-APMD program (https://apmddealers.org) was created in 2015,” explained PNG Executive Director Robert Brueggeman.

“Leon was a giant in the profession and hobby. He was a good friend to so many collectors and dealers across the country. Our condolences to his family and friends,” said PNG President Dana Samuelson. 

California Teenager Named PNG 2017 Scholarship Recipient

(Temecula, California) May10, 2017 – A Southern California teenager whose jubilant coin collecting passion has enthralled his family and high school friends has been selected to receive the Professional Numismatists Guild (www.PNGdealers.org) 2017 Young Numismatist Scholarship.

Grant Shobar

“This year’s PNG scholarship is being awarded to Grant Shobar, 17, of Laguna Niguel, California. It will cover airfare, tuition for one of the two week-long American Numismatic Association Summer Seminar (www.money.org/summer-seminar) sessions, meals and five nights of dormitory accommodations on the campus of Colorado College, site of the ANA headquarters,” announced PNG Executive Director Robert Brueggeman.

As a youngster, Grant collected an assortment of items ranging from hotel room keys to football cards, marbles and stamps. He began collecting coins five years ago and has been an avid young numismatist since then.

“My passion for coin collecting never ends, and every hour I spend, whether organizing or analyzing a coin I am interested in buying, flies by and I enjoy every moment of it,” Grant explained.

“I was so thrilled when I learned that I won this year’s scholarship.  I went to the Summer Seminars the past two years, and the experiences were incredible.  It definitely brings collecting to a whole new level. This scholarship will help me expand my interest in the hobby and collecting,” added Grant who wants to take a Summer Seminar class on Seated Liberty coinage.

He will be a Senior this fall at Dana Hills High School in Dana Point, California. He started the Numismaniacs Coin Club at the school during his Freshman year.  Grant also has written articles for various hobby publications, including the ANA’s magazine, The Numismatist, and enjoys attending the Long Beach Coin, Currency, Stamp & Sports Collectible Show.

His parents, Mark and Cathy Shobar, and his sister, Hayleigh, have been delighted with Grant’s enthusiasm for collecting.

“We were excited (when Grant was notified about the PNG scholarship).  He literally lives and breathes coins; that’s all he talks about. He’s so passionate about the hobby.  His sister loves to listen to Grant talk about coins.  He teaches us all.  Now we’re always looking at all the coins and currency that come through our hands.  We learn from him,” said Cathy Shobar.

“I think this scholarship is a great opportunity for kids, a win-win for parents and their children. Not only are they learning about coins, a very valuable hobby, it teaches them more about many other topics.  We’re very blessed that he has such a passion for coins,” she added. 

Grant offers this advice for prospective collectors: “Everyone considering collecting should delve into the hobby.  Knowledge is key. Coins are really the best hobby because it is so diverse, there’s an option for everyone.”

This is the 13th consecutive year of PNG YN scholarships for the popular, annual ANA educational Summer Seminar programs. 

“The money to pay for the annual PNG YN Scholarship is administered from PNG’s Gerald Bauman Memorial Fund.  Bauman, who died in 2001, served for many years as a prominent coin dealer with Manfra, Tordella & Brookes in New York City,” explained PNG President Dana Samuelson.

The PNG is a nonprofit organization composed of many of the top rare coin and paper money dealers in the United States and six other countries.  PNG member-dealers must adhere to a strict Code of Ethics in the buying and selling of numismatic merchandise.  For additional information about PNG, visit online at www.PNGdealers.org or call (951) 587-8300.

PNG Accepts Resignation of William Dominick

(Temecula, California) March 2, 2017 — The Professional Numismatists Guild (www.PNGdealers.org) has accepted the resignation of PNG member-dealer William Dominick of Naples, Florida.  

PNG Executive Director Robert Brueggeman had suspended Dominick pending ratification of the PNG Board of Directors for suspension or expulsion, as per the organization’s bylaws. 

Dominick, who became a PNG member-dealer in 1990 and has been on retired status since 2007, submitted his resignation prior to a vote by the Board, and it was accepted.