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$1.9 million Fraud Judgment Raises Compelling Hobby Issues

July 23, 2015 in Antique Coins, Coin Grading, Coins, Collecting, Fake Coins, Gold, Gold Coins, Grading, Investing, News, Numismatica, Numismatics, Opinion, USA Coins

By: Michael Bugeja News.CoinUpdate.com (Coin Update News)

PCA Collectibles, a New York company associated with the former PCI Coin Grading company, was found liable for nearly $1.9 million in damages based on the impression that coins sold to the plaintiffs were graded independently according to industry standards but actually were fake (one coin), damaged or worth only a fraction of Red Book prices.

The Red Book, or The Official Red Book: A Guide Book Of United States Coins, was sent by one of the defendants, Anthony J. Delluniversita, to the late Corpus Christi stockbroker Bonnie Pereida, who used it to evaluate the prices she paid against the value… Full article at the source>

Source: News.CoinUpdate.com (Coin Update News)

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