(Fallbrook, California) – The Professional Numismatists Guild (PNG) is offering rewards for information leading to the recovery of rare coins and paper money stolen in a half dozen, seemingly-related burglaries from the offices of Southern California rare coin dealers. PNG also is offering security advice for dealers to protect themselves and their inventory.
"The ‘M.O.’ (modus operandi) appears virtually the same in each of the six recent thefts: they occurred on Sundays when the dealers’ offices were closed, and the thieves scrambled in and out in under two minutes," said Robert Brueggeman, PNG Executive Director.
"They scooped up whatever looked valuable from desktops or shelves. Even though they usually could not break into a safe in that short amount of time, they still got away with hundreds of thousands of dollars in rare coins, bullion pieces and bank notes."
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The Professional Numismatists Guild (PNG) on Monday released an articulate statement cautioning that President-elect Barack Obama "Coins" are not rare investments.
In part, PNG President Gary Adkins said the following regarding the items,
"All of the items we’ve seen offered so far on television and online are merely political mementos that certainly may be enjoyable as a keepsake, but typically will have little or no re-sale value later in the mainstream numismatic market. Privately-produced items are not legal tender U.S. coins. In cases where a marketer has altered an actual U.S. coin after it left the Mint, such as putting a sticker with Obama’s picture on it, knowledgeable collectors usually consider that to be merely defacing the coin."
The United States Mint has now issued the following Obama “Commemorative Coins” advisory:
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(Fallbrook, California) – Officials of the Professional Numismatists Guild (PNG), a non-profit organization composed of the nation’s top rare coin dealers, are advising consumers that recently offered "coins" honoring President-elect Barack Obama should be considered only as souvenirs and not be viewed as rare coins or an investment.
"All of the items we’ve seen offered so far on television and online are merely political mementos that certainly may be enjoyable as a keepsake, but typically will have little or no re-sale value later in the mainstream numismatic market. Privately-produced items are not legal tender U.S. coins. In cases where a marketer has altered an actual U.S. coin after it left the Mint, such as putting a sticker with Obama’s picture on it, knowledgeable collectors usually consider that to be merely defacing the coin," said Gary Adkins of Edina, Minnesota, PNG President.
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(Fallbrook, California) – The Professional Numismatists Guild (PNG) and PNG member-dealer, Kevin Lipton, are jointly offering a $10,000 reward for information leading to the recovery of rare coins and paper money stolen from Lipton’s Beverly Hills, California offices. The unknown thief or thieves took more than a quarter-million dollars worth of numismatic items during a break-in on Sunday, October 19, 2008.
"Anyone with information that can help solve this crime is urged to contact Detective Max Subin of the Beverly Hills Police Department at (310) 285-2158, or call the PNG at (760) 728-1300," said PNG Executive Director Robert Brueggeman.
Among the items stolen is an uncut sheet of six $10 notes from The First National Bank of Branchville, New Jersey that is believed to be unique.
Seven MS-66 Saint Gaudens Double Eagles, graded by PCGS or NGC and each with a CAC sticker were taken: 1924 PCGS serial numbers #50241932, #06607136 and #50251605; 1926 PCGS #50135319; 1927 PCGS #21671348 and NGC #56810901; and 1928 NGC #65499304.
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(Fallbrook, California) – The Professional Numismatists Guild (PNG) will conduct its inaugural "PNG Dealer’s Deal" in December in Las Vegas, Nevada. It is the first in a planned series of "new concept" shows.
"There will be both PNG and non-PNG dealers attending, a limited number of collector-guests who will be personally invited by participating dealers, and members of the general public who want to attend," said Gary Adkins, PNG President.
"This first show will have about three dozen dealers and on-site grading services by Numismatic Guaranty Corporation."
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(Fallbrook, California) – The last in a year-long, nationwide series of Professional Numismatists Guild "Share the Knowledge" educational seminars for collectors and dealers will be conducted at the upcoming November Whitman Baltimore Coin and Currency Convention.
PNG member-dealer Anthony Swiatek of Manhasset, New York will discuss, "What Are the Perspicacious Ways to Collect and Invest in Coins and Currency?" The program begins at Noon on Friday, November 21, 2008, in room 303 of the Baltimore Convention Center. A complimentary light lunch will be available for audience members.
"I’ll help collectors learn how not to lose, but rather make money, while enjoying our hobby. It will be an insightful look at reading between the lines of questionable advertised offerings, becoming more enlightened about numismatics, and learning how to detect counterfeit coinage – an apparently increasing problem with some merchandise being offered in online auctions," explained Swiatek.
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A virtually non-stop flow of bourse floor traffic, nearly $35 million of coin and bank note auctions and visits by California’s Attorney General and former Governor, Jerry Brown, and Long Beach Mayor Bob Foster, highlighted the busy September 18-20, 2008 Long Beach Coin, Stamps & Collectibles Expo.
"Gold jumped about $40 an ounce on opening day, and we saw many ‘new faces’ among the thousands of attendees. Thursday is usually a busy day, and attendance this time was about 20 percent higher than recent, previous opening days," said Ronald J. Gillio, Expo General Chairman.
"I’ve had a table at every Long Beach show since 1995, and this was my best opening day Thursday," said Peter Walters of Columbia Collectibles in Irvine, California who specializes in Civil War to World War I era items.
The multiple auction sessions of U.S. and world coins, paper money and tokens and medals conducted by Heritage Auction Galleries of Dallas, Texas, official auctioneer of the Long Beach Expo, generated nearly $35 million in prices realized bidding.
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(Edina, Minnesota) – The introduction next year of new designs for the common Lincoln cent is being praised by a coin expert, but he doubts the practicality of pennies in pocket change.
"The Mint has been producing cents for circulation for 215 years since 1793 and they’re fun to collect, but the usefulness of one-cent denomination coins is questionable. Pennies may go the way of the two-cent, three-cent and twenty-cent denomination coins that were eliminated in the 1800’s," said Gary Adkins of Edina, Minnesota, President of the Professional Numismatists Guild, a nonprofit organization composed of many of the nation’s top rare coin experts.
"Any new design will be exciting for collectors and should make non-collectors take a closer look at their pocket change. But this may be the beginning of the end for pennies,” said Adkins.
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(Long Beach, California) – An exhibit by Professional Coin Grading Service of counterfeit coins and the latest in the Professional Numismatists Guild’s "Share the Knowledge" educational seminars are among the highlights of the next Long Beach Coin, Stamp & Collectibles Expo, September 18 - 20, 2008. The show will be held in the Long Beach, California Convention Center, 100 S. Pine Ave.
"The PCGS display will showcase an assortment of fake Chinese coins and the dies used for making some of them that were sold on the Internet or offered at souvenir shops and street fairs in Hong Kong," said Ronald J. Gillio, Expo General Chairman.
"We’ll also have a half dozen various club meetings and educational programs that are open to the public. Whether you’re a consignor or a bidder, you’ll want to attend the PNG seminar about numismatic auctions."
The program, "Everything You Always Wanted to Know About Rare Coin Auctions," will be presented by PNG member-dealer Greg Rohan, President of Heritage Auction Galleries of Dallas, Texas, at Noon on Thursday, September 18.
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(Long Beach, California) – The date has changed for the latest in the Professional Numismatists Guild’s "Share the Knowledge" educational seminars at the Long Beach Coin, Stamp & Collectibles Expo. The new date is Thursday, September 18, 2008, instead of the previously announced Friday the 19th.
The seminar will benefit potential auction consignors and bidders.
The program, "Everything You Always Wanted to Know About Rare Coin Auctions," will be presented by PNG member-dealer Greg Rohan, President of Heritage Auction Galleries of Dallas, Texas. The program starts at Noon on September 18, in room 102-C of the Long Beach, California Convention Center, 100 S. Pine Ave.
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