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October 2017 Numismatic Legislation Review

November 1, 2017 in Blogs, Coins, Collecting, Education, History, Legal, Legislation, News, Numismatica, Numismatics, Opinion, Politics, US Government, USA Coins

By: Scott Barman Coin Collectors Blog (CoinsBlog.ws)

It seems that when I write these posts about the monthly numismatic-related legislation reviews, I note how frustrating it is to follow the workings of Congress. Even though I work as a part-time political analyst and have some contacts I can leverage, even the insiders cannot explain why things happen. Let’s look at recent legislation. […] Full article at the source>

Source: Coin Collectors Blog (CoinsBlog.ws)

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September 2017 Numismatic Legislation Review

October 2, 2017 in Blogs, Coins, Collecting, Education, Investing, Legal, Legislation, News, Numismatica, Numismatics, US Government, US Mint, USA Coins

By: Scott Barman Coin Collectors Blog (CoinsBlog.ws)

Trying to follow the inner workings of politics is more frustrating than what you see on television news. Part of following the inner workings of Congress is to try to figure out what Congress will do next is not only understanding where legislation is in the process, what Congress calls “regular order,” but it also […]Full article at the source>

Source: Coin Collectors Blog (CoinsBlog.ws)

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Liar, Liar, Pants on Fire…

September 2, 2017 in Ancient Coins, Archaeology, Art, Blogs, Coins, Collecting, Education, History, Investing, Legal, Legislation, Numismatica, Numismatics, Opinion, Politics, Rare Coins, World Coins

By: Wayne G. Sayles  Ancient Coin Collecting (Wayne G. Sayles)

The Committee for Cultural Policy has pointed out on several past occasions that exaggerated media reports, of Islamic State (ISIS) income from the sale of looted antiquities to art and coin collecting communities, are and have from the start been unfounded. The persistence of outright lies has cast a cloud over the credibility of several major media outlets and their academic “experts” who fed the flame for what is obviously an ideological anti-trade agenda. In their August 2017 newsletter, the CCP presents a report on the findings of a Dutch National Police investigation that flatly debunks… Full article at the source>

Source: Ancient Coin Collecting (Wayne G. Sayles)

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Weekly Numismatic World News for August 27, 2017

August 28, 2017 in Ancient Coins, Antique Coins, Archaeology, Blogs, Coins, Collecting, Education, History, Legal, News, Numismatica, Numismatics, Opinion, Turkish Coins, World Coins

By: Scott Barman Coin Collectors Blog (CoinsBlog.ws)

This week, the BBC reported about Toby Robyns, a 52-year-old ambulance driver from the U.K., who may be facing an up to three-year prison sentence for trying to take home ancient coins he found on a beach in Turkey. Immediately, my thoughts turned to a story I wrote about my friends in a similar situation. […]

Full article at the source>

Source: Coin Collectors Blog (CoinsBlog.ws)

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A sign of the times?

August 20, 2017 in Ancient Coins, Antique Coins, Archaeology, Blogs, Coin Dealers, Collecting, Education, Foreign Policy, History, Investing, Legal, Legislation, Numismatica, Numismatics, Opinion, Rare Coins, World Coins

By: Wayne G. Sayles Ancient Coin Collecting (Wayne G. Sayles)

Over the past decade, collectors of ancient coins have been faced with constant pressure from left wing radicals of academia—particularly the archaeological community leadership and their sycophants. Among the ardent supporters of anti-collector groups are a small but well entrenched cadre of bureaucrats in Washington. The level of governmental infiltration by these cultural property nationalists—bent on eliminating or controlling international trade in cultural property—is in itself cause for some concern. History is replete with examples of ideology supplanting law and individual rights in a quest for social management. It has been the cause of more than… Full article at the source>

Source: Ancient Coin Collecting (Wayne G. Sayles)

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North Carolina joins 35 other states with sales-tax exemptions

July 26, 2017 in Coins, Collecting, E-commerce, Education, History, Investing, Legal, Legislation, News, Numismatica, Numismatics, Rare Coins, US Government

By: Press Release News.CoinUpdate.com (Coin Update News)

On Tuesday, July 25, 2017, North Carolina governor Roy Cooper signed into law House Bill 434: Coins/Currency/Bullion Sales Tax Exemption. The law is a complete sales-and-use tax exemption on coins, currency, and precious-metals bullion sales.

“The bill’s author, Representative Dana Bumgardner, coauthors Representative Jeff Collins, Representative Mark Brody, and Representative Mike Clampitt, along with its Senate sponsor, Senator Bill Rabon, championed the bill through the legislature,” said Mitch Hyatt (Hyatt Coin Shop, Charlotte, North Carolina). “North Carolina coin businesses and collectors owe them a debt of gratitude.”

In the fall of 2016, Hyatt started collaborating with the Industry Council for Tangible Assets… Full article at the source>

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

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“Cents and Sensibility” Act reintroduced, aims to convert U.S. coinage entirely to steel composition

April 25, 2017 in Blogs, Circulating Coins, Coins, Legal, Legislation, Money, News, Numismatica, Numismatics, Pennies, US Government, US Mint, USA Coins

By: Mint News Blog Mint News Blog (http://mintnewsblog.com)

1943-D over D steel cent. (Photo courtesy of Stack's Bowers Galleries)

1943-D over D steel cent. (Photo courtesy of Stack’s Bowers Galleries)

 

On April 6, Representative Steve Stivers (R-OH) reintroduced the Cents and Sensibility Act (H.R. 2067), which proposes “to save the American taxpayers money by immediately altering the metallic composition of the one-cent, five-cent, dime, and quarter-dollar coins, and for other purposes.”

Cosponsored by Rep. Joyce Beatty (D-OH) and Rep. Pat Tiberi (R-OH), the act is further described in a press release as “bipartisan legislation [that] lowers the cost of producing pennies, nickels, dimes, and quarters by ensuring they are minted with steel instead of minerals imported from outside the United… Full article at the source>

Source: Mint News Blog (http://mintnewsblog.com)

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How the Mint audits the nation’s deep-storage gold

March 1, 2017 in Blogs, Education, Gold, Gold Bullion, Gold Coins, History, Investing, Legal, Legislation, Numismatica, Numismatics, Opinion, Precious Metals, US Government, US Mint

By: Mint News Blog Mint News Blog (http://mintnewsblog.com)

Weighing-gold

The status of the U.S. gold reserves has long been a point of discussion, as all information on the subject is closely guarded by the Treasury. Although information on annual audits is available, the average person is unaware of it; and even those who know it exists generally don’t know where to find it. Couple these facts with the public’s widespread distrust of Congress and government agencies, and it’s no wonder that rumors about the nation’s gold supply have run rampant for decades. Nearly every coin and/or investment forum on the Internet, if you dig deeply enough, has hosted discussions Full article at the source>

Source: Mint News Blog (http://mintnewsblog.com)

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“Breaking Bread With In God We Trust” Topic Of ANA Show Presentation By Michael Fuljenz

February 23, 2017 in ANA (American Numismatic Association), Clubs and Associations, Coins, Collecting, Conventions, Education, Events, History, Legal, Legislation, Money, News, Numismatic Literary Guild, Numismatic Societies and Clubs, Numismatica, Numismatics, Opinion, Press Releases, U.S. Notes, US Government, US Mint, USA Coins

February 23, 2017

News media contact:
Paul Stein, (409) 860-9077

“Breaking Bread With In God We Trust” Topic Of ANA Show Presentation By Michael Fuljenz

Michael Fuljenz, President of Universal Coin & Bullion

Michael Fuljenz, President of Universal Coin & Bullion

(Orlando, Florida) – Educator and award-winning numismatic writer Michael Fuljenz, President of Universal Coin & Bullion (www.UniversalCoin.com) will gave an informative Money Talks, “Breaking Bread With In God We Trust, at the American Numismatic Association National Money Show® in Orlando, Florida.  The presentation will begin at 1 pm, Thursday, March 9, 2017, in room W240D at the Orange County Convention Center West Building, site of the show.

A complimentary premium box lunch and bottled water will be available for the first 50 attendees at this lunchtime seminar about the patriotic motto, In God We Trust (www.INGODWETRUSTonmoney.com).

During the educational presentation, Fuljenz will explain how the motto actually was first inspired by events during the War of 1812 that sparked creation of the National Anthem; first appeared on U.S. coins a half century later in 1864; and now continues to withstand legal challenges.

A former high school chemistry and physics teacher and principal of the Governor’s gifted students program in Louisiana, Fuljenz has received more than 60 awards from the Numismatic Literary Guild as well as national and regional awards and honors for his consumer education and protection work in rare coins and precious metals.  He also received an Honorary Doctorate in Humane Letters from McNeese State University.  

A respected community leader and literacy advocate in his hometown of Beaumont, Texas, Mike also has served with distinction as a consultant to the Federal Trade Commission, United States Mint and Royal Canadian Mint, and is on the Boards of Directors of the Jefferson County Texas Crime Stoppers organization, the Diocese of Beaumont Catholic Schools, the Industry Council For Tangible Assets and the Numismatic Literary Guild.

For additional information about the ANA National Money Show, visit www.NationalMoneyShow.com. To read Fuljenz’ free, weekly Metals Market Report go to www.UniversalCoin.com.

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Newly Introduced: The “American Innovation $1 Coin Act”

September 21, 2016 in Blogs, Coins, Collecting, Commemorative, Legal, Legislation, News, Numismatica, Numismatics, Politics, Proof Coins, US Federal Reserve, US Government, US Mint, USA Coins

By: Mint News Blog Mint News Blog (http://mintnewsblog.com)

dollar-517113_960_720

On Wednesday, September 14, Representative James A. Himes introduced H.R. 6025, known as the “American Innovation $1 Coin Act.”

If adopted, the act would authorize $1 numismatic coins whose designs recognize both American innovation in general and “significant innovation and pioneering efforts of [American] individuals or groups.” One coin would be released for each of the 50 states, the District of Columbia, and the U.S. territories, in alphabetical order.

The program, if approved, could commence as early as January 1, 2017, as determined by the Secretary of the Treasury, who would also determine the appropriate quantities of Uncirculated and Proof strikes.

Per the… Full article at the source>

Source: Mint News Blog (http://mintnewsblog.com)

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Controversial Minnesota Law Regulating Bullion Sales is Amended

June 15, 2016 in Bullion, Clubs and Associations, Coins, Collecting, Education, History, Investing, Legal, Legislation, News, Numismatic Societies and Clubs, Numismatica, Numismatics, Precious Metals, Press Releases, Reference, USA Coins

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

93743_SlabTINy

The following press release was shared by the Industry Council for Tangible Assets.

Minnesota Gov. Mark Dayton recently signed the Minnesota SF 3175: Bullion Product Dealers Regulation Authorization, culminating major legislative effort led by the Industry Council for Tangible Assets (ICTA) to reform the most troublesome law for coin dealers in modern memory.

The new law amends the state’s “Bullion Coin Dealer Law,” passed in 2013, which applies to dealers at all levels of the industry and throughout the country, and imposes onerous regulations that were impossible to comply with. ICTA’s Chairman, Harry Miller, explains.

“Most coin dealers in the U.S…. Full article at the source>

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

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Proposed Legislation Aims to Designate Saint-Gaudens Site as National Arts Park

June 6, 2016 in Art, Blogs, Education, History, Legal, Legislation, Museums, News, Numismatica, Numismatics, US Government

By: Dan Holmes Mint News Blog (http://mintnewsblog.com)

augustus-saint-gaudens_t614SMALL

Above: Sculptor Augustus Saint-Gaudens (with Amor Caritas in the background), Paris, 1898. Credit: Courtesy of National Park Service, Saint-Gaudens National Historic Site.

 

Two bills have been introduced proposing the redesignation of the Saint-Gaudens National Historic Site in Cornish, New Hampshire to the “Saint-Gaudens National Park for the Arts.” The companion bills were submitted simultaneously on May 12 by Sen. Jeanne Shaheen (D-NH) and Rep. Frank Guinta (R-NH1).

Augustus Saint-Gaudens was born in Ireland, raised in New York City, and went on to become one of America’s greatest sculptors. He created some of the nation’s best-known public statues, including Standing… Full article at the source>

Source: Mint News Blog (http://mintnewsblog.com)

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Indiana Governor Signs Sales-Tax Exemption Bill for Coins and Paper Money

March 28, 2016 in Bullion, Coins, Collecting, Gold, Gold Bullion, History, Investing, Legal, News, Numismatica, Numismatics, Press Releases, Silver, Silver Coins, US Government

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

1804-silver-dollar

The Industry Council for Tangible Assets has shared the following press release:

ANNAPOLIS, MD — On March 24, Indiana governor Mike Pence signed into law HB 1046, which provides for a sales-tax exemption on rare coins, paper money, and precious-metals bullion. The new law will take effect on July 1. Indiana becomes the 33rd state to have a complete or partial sales-tax exemption on the retail sales of rare coins, paper money, and precious-metals bullion.

The bill was authored by Representative Greg Beumer; co-authored by Rep. David Wolkins, Rep. Robert Heaton, and Rep. David Niezgodski; and sponsored by Sen. Brandt… Full article at the source>

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

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Funding Terrorism

January 29, 2016 in Ancient Coins, Anthropology, Archaeology, Blogs, Coins, Collecting, Education, Foreign Policy, History, Investing, Legal, Numismatica, Numismatics, Opinion

By: Wayne G. Sayles Ancient Coin Collecting (Wayne G. Sayles)

In the wake of the U.S. Senate’s Finance Committee passage of a bill “to protect and preserve international cultural property at risk due to political instability, armed conflict, or natural and other disasters, and for other purposes.” Every thinking American ought to give some serious thought to the part that includes “for other purposes”. The situation in Syria and Iraq is deplorable, but it is not going to be resolved by yellow journalism or poorly conceived import restrictions. Couched within this appeal for egalitarian protection of the past is a blatant and disgustingly sub-rosa agenda pushed incessantly… Full article at the source>

Source: Ancient Coin Collecting (Wayne G. Sayles)

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Judge Awards Coin Fraud Victim’s Estate Nearly $1.9 Million Under Federal Racketeer Laws

July 22, 2015 in Antique Coins, Coins, Collecting, Counterfeit, Fake Coins, Grading, Investing, Legal, News, Numismatica, Numismatics, PCGS (Professional Coin Grading Service), PNG Professional Numismatists Guild, Press Releases, US Government

For immediate release
July 22, 2015

News media contacts:
Paul Montgomery, (405) 254-6877
Lyn Stevens, (800) 896-3452

Judge Awards Coin Fraud Victim’s Estate
Nearly $1.9 Million Under Federal Racketeer Laws

 

(Corpus Christi, Texas) – A Federal Court Judge in Texas has issued her final ruling that a coin fraud victim’s estate should receive nearly $1.9 million from a Long Island coin dealer and his grading company under the Racketeer Influenced and Corrupt Organization Act (RICO).  The estate was assisted in its three-year recovery efforts by former Professional Numismatists Guild President Paul Montgomery, President of Paul Montgomery and Associates in Oklahoma City, Oklahoma (www.paulmontgomeryonline.com).

Judge Nelva Gonzales Ramos of the United States District Court of Southern Texas, Corpus Christi Division, issued her final judgment on July 21, 2015.

Last November, Judge Ramos held a bench trial in the case.  On May 20, 2015 she issued a 30-page Findings of Fact and Conclusions of Law in which she ruled that PCA Collectibles, Inc. of North Lindenhurst, New York, and PCI Coin Grading company misled Corpus Christi stockbroker Bonnie Pereida “into buying coins that were counterfeit, damaged or worth only a fraction of what they were represented to be.”

Judge Ramos also stated in May: “The Court concludes that there is clear and convincing evidence of the fraud perpetuated by PCI and PCA against Pereida.”

In her final judgment, the judge now has ordered that the estate can recover $1,892,324 from Anthony Delluniversita, majority owner of PCA and the owner of PCI coin grading company at the time the coins were graded and sold to Pereida.  Of that total, $1,610,802 is for damages, $280,190 for attorney’s fees and another $1,332 for costs of the lawsuit.

Montgomery stated: “I’ve been involved in hundreds of these kinds of cases, and this is the first one that resulted in a federal court victory.  Usually, the sellers resolve the buyers’ complaints to avoid a trial in court by eventually making a refund of all or at least a portion of what the customers paid.  It takes time, but there are remedies against nefarious dealers, and I’m delighted for Dr. Malvino about the judge’s decision in this case.”

According to court documents, from January through May of 2011, Pereida made 31 separate purchases of rare coins from PCA.  She bought 135 coins and paid a total of $727,569 to PCA for them.  The coins were graded by PCI, and the sole owner of PCI at the time was defendant Delluniversita who also was the dominant shareholder of PCA Collectibles.

Pereida’s fiancé  Albert P. Malvino, Ph.D., testified, “We bought these (coins) for our retirement…and we thought…we’re getting a good deal…..”

When Pereida died in October 2011, Dr. Malvino was appointed executor of her estate and had the coins appraised.

Heritage Auctions through its Heritage Appraisal Services estimated the auction value at $190,865 at the time the coins were examined, less than 27 percent of the amount paid by Pereida.  Montgomery then was retained by Dr. Malvino to assess the grade and value of the coins, and he concluded the reasonable retail value of the coins at the time they were purchased by Pereida was $150,964, about 20 percent of what Pereida paid.

Montgomery also requested Professional Coin Grading Service to do an independent appraisal of the grades, and, according to the Judge’s ruling, “PCGS’s findings were consistent with those of Montgomery.”

Heritage, Montgomery and PCGS identified one coin as a counterfeit, a 1914-D Indian $2.50 graded by PCI as MS64.

They also identified 25 other coins that could not be graded because they were either cleaned or damaged.  These included a 1907 Saint-Gaudens Roman Numerals High Relief Double Eagle graded by PCI as MS65 and sold for $19,500.  Heritage estimated the auction value at $6,000, Montgomery valued the coin at retail as $4,500 and both Heritage and Montgomery agreed with PCGS that the coin had been cleaned.

An 1892-CC Liberty Double Eagle, sold by PCA to Pereida for $12,500 and graded by PCI as MS62, was valued by Heritage at $2,600 and only AU, valued by Montgomery at $700 because it was damaged and given also given no grade by PCGS because of an noticeable scratch on the coin.

During the trial in November 2014, Montgomery showed the judge coins graded by PCI as Mint State, that were in his opinion, only About Uncirculated.

“She quickly understood the concept of grades and its relationship to coin values.  I told her: ‘Your Honor, now you’re a coin grader,’” recalled Montgomery.

“When you’re buying or selling coins, there’s an important lesson for the public to remember.  If you don’t know rare coins, you’d better know your rare coin dealer.  Members of the Professional Numismatists Guild must adhere to a strict Code of Ethics in the buying and selling of numismatic merchandise.  The dealer who sold coins to Ms. Pereida was not a PNG member,” said Montgomery who served as PNG President from 2009 – 2011.

Dr. Malvino was represented by attorney R. Lyn Stevens of Stevens Baldo Freeman & Lighty in Beaumont, Texas (www.sbf-law.com and www.CoinFraud.com).

The case is Albert Malvino v. PCA Collectibles, Inc., Civil Action No. 2:12-CV-401, in the U.S. District Court of Southern District of Texas Corpus Christi Division.

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Coin Ruling Affects Perception of Value

July 7, 2015 in Coins, Collecting, Education, Grading, Legal, News, Numismatica, Numismatics, Opinion, US Government

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

MS66

In late May, a federal court judge in Texas issued a ruling against a New York-based firm that owned a third-party grading company between November 2010 and December 2011, citing the Racketeer Influenced and Corrupt Organization Act (RICO) and potentially awarding close to $1.9 million for the plaintiffs.

You can read about the lawsuit by clicking here. You can also read Judge Nelva Gonzales Ramos’s Findings of Fact and Conclusions of Law (PDF) in which she summarizes and then expands on the case. In essence, the company that offered the coins may have given the perception of independent objective… Full article at the source>

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

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CCPIA: Then and Now

May 7, 2015 in Ancient Coins, Antique Coins, Archaeology, Blogs, Collecting, Education, History, Legal, Numismatica, Numismatics, Opinion, US Government, USA Coins, World Coins

By:  (Ancient Coin Colleting Blog)

The Convention on Cultural Property Implementation Act of 1983 (CCPIA) has been in effect for more than 30 years and was massaged through the legislative process over a 13-year span. The fact that this law has withstood many challenges and is still regarded by most as a fair and well thought out piece of legislation, places it in a class with few parallels. The reason for that can surely be ascribed in part to a deliberative process in its creation that focussed intently on well articulated concerns from diverse interests.

Mark Feldman representing the U.S. State Department before… Full article at the source>

Source: Coin Collecting Alltop.com

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Family Wins Back 1933 gold double eagle

April 18, 2015 in Antique Coins, Coins, Collecting, Gold, Gold Coins, Gold Eagles, Legal, News, Numismatica, Numismatics, Precious Metals, Rare Coins, US Government, US Mint, USA Coins

double eagle
A U.S. appeals court ruled on Friday that the U.S. government must return 10 pieces of By a 2-1 vote, the 3rd U.S. Circuit Court of Appeals in Philadelphia said Joan Langbord and her sons Roy and David are the rightful owners of the “double eagle” $20 gold pieces, after the government ignored their claim to the coins and missed a deadline to seek their forfeiture.

U.S. Department of the Treasury officials insist the $20 Double Eagles were stolen from the U.S. Mint in Philadelphia before the 1933 series was melted down when the country went off the gold standard. They… Full article at the source>

Source: Coin Collecting Alltop.com

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ACCG (Ancient Coin Collectors Guild) Comments at Italy CPAC Hearing

April 15, 2015 in Ancient Coins, Collecting, History, Legal, News, Numismatica, Numismatics, Opinion, Politics, US Government, World Coins

Below is a transcript of the oral comments presented by Wayne G. Sayles, representing the Ancient Coin Collectors Guild, at the 2015 hearing of the Cultural Property Advisory Committee on April 8 at Washington, DC. The hearing included public comment on a proposed extension of the current Memorandum of Understanding with Italy. Formal written comments were submitted earlier and may be seen here.

Madam Chair and distinguished committee members,

The Ancient Coin Collectors Guild was founded as a non-profit organization in 2004. Since then, I’ve appeared eight times before this committee to comment on potential import restrictions. Full article at the source>

Source: Coin Collecting Alltop.com

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Collectible Coin Protection Act Becomes Law

December 30, 2014 in Coins, Collecting, Education, Legal, News, Numismatic Crimes, Numismatica, Numismatics, Politics, US Government

By Michael Zielinski (News.CoinUpdate.com (Coin Update News))

replica-coin

Following several other recent actions in coin related legislation, President Obama has signed the Collectible Coin Protection Act into Law. The Act will serve to broaden the existing Hobby Protection Act by making it unlawful to sell unmarked replica coins.

The Hobby Protection Act, which was enacted in 1973, had made it illegal to manufacture or import into the United States for introduction into or distribution in commerce any imitation numismatic Full article at the source>

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

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