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Articles on August 26th, 2008

PNG Extends Brueggeman’s Contract, Cites Accomplishments

Robert Brueggeman(Fallbrook, California) — The Professional Numismatists Guild (PNG), a nonprofit organization composed of many of the top rare coin and paper money dealers, has extended for another two years the contract of its veteran Executive Director, Robert Brueggeman.

 

"Bob has continued to manage a dynamic organization with zeal and dedication.  His efforts have kept the Professional Numismatists Guild on a steady pace," said PNG President Gary Adkins.

“Most of the disputes that come to the PNG office are quickly and fairly settled through Bob’s tenacious determination.  Legal and financial matters are handled with professional, caring detail.  Promotion and education continue to be keys to PNG’s success with Bob’s guidance, and the PNG is proud to have Bob as its Executive Director."

 

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Bowers and Merena to Present More than 900 Coin Rarities in Beverly Hills

Highlights Include Extraordinary Gem 1851 Augustus Humbert $50 Gold Piece, the Only Humbert Gold Coin of Any Denomination or Variety Graded MS-65 * by NGC

IRVINE, Calif. – Bowers and Merena Auctions, America’s leading rare coin and currency auction house, will host their Beverly Hills Rarities Sale on Saturday, September 13, 2008, at The Tower Beverly Hills, prior to the Long Beach Coin, Stamp & Collectible Expo.

1861-S Liberty, 1851 Augustus Humbert $50, and 1893-S Morgan coins

Lot viewing for the entire auction is scheduled for Thursday through Saturday, September 11-13. The catalog includes more than 900 exceptional coin rarities

Topping the list of highlights is a very special new discovery, Lot 681, an August Humbert $50 Gold piece of the Reeded Edge, 880 THOUS (K-5, Rarity-5) variety graded MS-65 * by NGC. It is the only Humbert gold coin of any denomination with an NGC grade of MS-65 *.

No Humbert gold coins of any denomination or variety have been graded finer than MS-65 at either PCGS or NGC.

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Silver and Gold Rise with Oil

New York Gold tumbled early but recovered to register a small gain as oil prices climbed on concerns that Hurricane Gustav could threaten oil production in the Gulf.

Bullion update ...Crude oil for October finished up $1.16 to $116.27 a barrel.

Silver for September gained 11 cents to close to $13.58 an ounce.

October platinum dropped 1% to end at $1,421 an ounce.

December gold shook off earlier losses to climb $2.40 to close at $828.10 an ounce, sharply higher than its intraday low of $812 an ounce.

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Stolen Rare Coin Returned to Garage Sale Buyer, Not Likely Owner

Swedish 1632 Gustav II Adolf gold Dukat gold coinIn an unusual case, a judge decided that one of five stolen Swedish rare coins purchased at a garage sale — a Swedish 1632 Gustav II Adolf gold Dukat — would be returned to the daughter of the woman who bought them, and not to the owner’s estate who received the other four.

 

“This case raises squarely the conflict between two principles, protection of property and protection of commercial transactions,” said British Columbia Supreme Court Justice Bruce Butler who ruled to split the coins.

 

To better understand Justice Butler’s decision, background information provided in the case offers an excellent history of events.

Coins purchased in garage sale

Marina Ovsenek was on her way to a cancer treatment with her daughter, Stephanie Manning, when they happened by a garage sale sign. They decided to stop, and Ms. Ovsenek bought a box containing five gold-colored coins and a brooch for $5.

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