You are browsing the archive for Texas.

by admin

Keep Safe Out There!

September 10, 2017 in Blogs, Education, History, News, Numismatica, Numismatics, Opinion

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

Storms of all type are hitting the shores of the United States. Nearly two weeks after Harvey did his damage in southeast Texas, Irma is north of the Florida Keys and heading towards Naples as I type this. While Irma is now attacking Florida, Hurricane Jose is hanging out about 300 miles northwest of the […]

Full article at the source>

Source: Coin Collectors Blog (CoinsBlog.ws)

Share Button

by admin

Mike Fuljenz Honored At 2017 World’s Fair of Money

August 8, 2017 in ANA (American Numismatic Association), Awards, Coin Shows, Coins, Collecting, Education, Events, History, Investing, News, Numismatic Literary Guild, Numismatic Societies and Clubs, Numismatica, Numismatics, PNG Professional Numismatists Guild, Precious Metals, Press Releases, Prize Winners

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

Mike Fuljenz Honored At 2017 World’s Fair of Money

Mike Fuljenz with his ICTA medal

Mike Fuljenz with his ICTA medal

(Denver, Colorado) August 7, 2017 – Rare coin and precious metals expert Michael Fuljenz, President of Universal Coin & Bullion of Beaumont, Texas (www.UniversalCoin.com), received an important national award at the recent American Numismatic Association 2017 Denver World’s Fair of Money® for his decades of anti-counterfeiting efforts.  

The Industry Council for Tangible Assets (www.ICTAonline.org) presented him with the Al Kreuzer Memorial Award medal for “outstanding contributions in the efforts to combat counterfeit coins and currency.”

Fuljenz is a long-time member of the ICTA Board of Directors and a member of their recently-formed Anti-Counterfeiting Task Force.  Since the 1980’s he has taught many counterfeit detection and rare coin authentication seminars for collectors, dealers and law enforcement officers.

“I am proud and honored to receive this award, and look forward to additional work with ICTA and other organizations to combat counterfeits and educate the public about the needs to buy and sell rare coins and precious metal bullion coins only with reputable, knowledgeable dealers, such as members of the Professional Numismatists Guild (PNG),” said Fuljenz.

Fuljenz is a member of the PNG’s Accredited Precious Metals Dealer program that requires all members to adhere to a strict code of ethics in the buying and selling of gold, silver and other bullion products. He now has won major awards from the four top organizations in the rare coin hobby and profession: the American Numismatic Association (ANA), Numismatic Literary Guild (NLG), Professional Numismatists Guild (PNG) and the Industry Council for Tangible Assets.

2017 NLG Ribbit Award winner David Hall with 2016 winner Mike Fuljenz, are distributed on behalf of Mike Fuljenz and Universal Coin & Bullion.

2017 NLG Ribbit Award winner David Hall with 2016 winner Mike Fuljenz, are distributed on behalf of Mike Fuljenz and Universal Coin & Bullion.

A strong consumer advocate, he received the prestigious PNG Sol Kaplan Award in 2016 in part for assisting an 84-year man recover the $84,000 he had paid to two unscrupulous dealers who sold him counterfeit American Eagle gold coins. Earlier, Fuljenz assisted a group of New Orleans physicians recover $750,000 after they unsuspectingly purchased counterfeit coins from a local attorney.

Summing up the rare coin marketplace during the ANA show in Denver, August 1 – 5, he commented:

“Really nice coins and important coins were in short supply, and highly desired by leading dealers and collectors at the show. These types of coins often brought impressive prices at auctions this week.   The United States Mint had long lines of customers wanting to buy their new products. The U.S. Treasury Department exhibits by the United States Mint and the Bureau of Engraving and Printing are always popular and educational.”

In addition to receiving an award at the World’s Fair of Money, Fuljenz presented two of them. As 2016 recipient of “The Ribbit,” an important honor presented annually by the NLG for outstanding service to the hobby, he presented the 2017 award to David Hall, co-founder of Professional Coin Grading Service.  “David is one of the top professional leaders of the hobby who certainly deserves recognition for all he has done to promote numismatic education,” explained Fuljenz.

As sponsor of the ANA’s top honor, the Farran Zerbe Memorial Award, Fuljenz co-presented it with ANA President Jeff Garrett to Brian Fanton of Iowa. “Brian surprised me at the ceremony by telling me he recalled how much he enjoyed taking one of my ANA coin grading seminars back in the 1980’s,” said Fuljenz.

Known as America’s Gold Expert®, Universal Coin & Bullion President Michael Fuljenz has won more than 60 prestigious national and regional awards and honors for his consumer education and protection work in rare coins and precious metals. His weekly Metals Market Report is available free at www.UniversalCoin.com.

Share Button

by admin

Texas: Home of the first state-run bullion depository in the U.S.

June 20, 2017 in Blogs, Bullion, Gold, Gold Bullion, History, Investing, News, Numismatica, Numismatics, Precious Metals, US Government

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

The Texas state capitol building, Austin. (Photo by Ed Uthman)

The Texas state capitol building, Austin. (Photo by Ed Uthman)

Lone Star Tangible Assets (LSTA), an Austin-based firm, has signed a five-year contract with the government of Texas to manage the state’s bullion depository, which will be under the authority of the state comptroller general (currently Glenn Hegar).

Prior to the law authorizing the Texas Bullion Depository, such facilities were privately owned, with the exception of the massive depositories of the federal government. They tend to be clustered near the New York financial hub, in part because of COMEX requirements that its member depositories be located within 150 miles of New… Full article at the source>

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

Share Button

by admin

ANA Releases 2016 Dallas National Money Show Attendance Numbers

March 24, 2016 in ANA (American Numismatic Association), Coin Shows, Coins, Collecting, Conventions, Entertainment, Events, News, Numismatic Societies and Clubs, Numismatica, Numismatics, Seminars, USA Coins

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

800_wphacgbw4v0zsualogguSMALL

The American Numismatic Association has shared attendance figures for this year’s National Money Show, which took place Thursday, March 3 through Saturday, March 5 at the Kay Bailey Hutchison Convention Center in Dallas, Texas.

Reports directly following the show noted smaller than usual crowds, and it’s interesting to look at the official numbers to see how those first impressions compared to the actual totals.

An ANA press release states that 2,585 people attended the show in all, including 1,100 members of the general public, 815 ANA members, 595 table-holders, and 75 volunteers or staff members.

Total attendance per day… Full article at the source>

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

Share Button

by admin

Show Report: 2016 ANA National Money Show in Dallas

March 9, 2016 in ANA (American Numismatic Association), Auctions, Clubs and Associations, Coin Shows, Coins, Collecting, Conventions, Entertainment, Events, Fun, History, Investing, News, Numismatic Societies and Clubs, Numismatica, Numismatics, USA Coins, World Coins

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

800_wphacgbw4v0zsualogguSMALL

The American Numismatic Association organizes two shows each year: the National Money Show, which occurs in the spring, and the World’s Fair of Money, usually held in the first or second week of August. The annual spring show took place last week in downtown Dallas, Texas. I visited the convention and came away with some thoughts on the event, coin shows in general, and the present market.

This show was not tremendously busy from either a dealer or a public standpoint. While the summer show is considered to be the largest coin show in the world, with dealers flying in from… Full article at the source>

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

Share Button

by admin

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.

###

Share Button

by admin

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)

Share Button

by admin

Useful Information On Type Three Double Eagles In New Reference Book By Mike Fuljenz

April 15, 2015 in Antique Coins, Books, Coins, Collecting, Education, Gold, Gold Coins, Gold Eagles, History, Investing, News, Numismatica, Numismatics, Precious Metals, Press Releases, Rare Coins, USA Coins

For immediate release
April 16, 2015

News media contact:
Paul Stein, (409) 860-9077 ext. 810

Useful Information On Type Three Double Eagles In New Reference Book By Mike Fuljenz

Book Includes Proof “In God We Trust”
Motto Inspiration Pre-Dates U.S. Civil War

Type Three Double Eagles cover

Type Three Double Eagles 1877 – 1907 (Second Edition) By: Mike Fuljenz

An important new reference book about a popular United States gold coins series, Type Three Double Eagles 1877 – 1907 (Second Edition), provides beginning and advanced collectors a date-by-date analysis of every coin in the series, historical vignettes and more than 100 full-color photographs.  The book was written by Michael Fuljenz, President of Universal Coin & Bullion Ltd. in Beaumont, Texas, who has won more than 50 awards from the Numismatic Literary Guild (NLG) for his consumer protection and education newsletters and earlier books and articles.

Fuljenz predicts that last year’s wide-spread publicity about the discovery of the Saddle Ridge Hoard “should increase collector and investor interest in this (Type Three Liberty Head Double Eagles) series for a long time.”  The vast majority of the 1,427 gold coins unearthed in the Northern California buried treasure hoard were Type Three Double Eagles.

The new book contains a chart of the Professional Coin Grading Service (PCGS) grades assigned to the hoard coins, and also contains comparisons of PCGS and Numismatic Guaranty Corporation population reports on all Type Three $20 denomination gold coins.

One revealing chapter of the book is described by the author as “the definitive article on the national motto, In God We Trust.” It provides proof the inspiration for the motto actually goes back to the War of 1812, pre-dating the 1860s U.S. Civil War era that many believe was the backdrop for the motto.

Fuljenz provides useful collecting, investing, buying and selling tips as well as historical information and price history about this coin series.  He includes information about counterfeits and consumer protection, such as the 2014 Collectible Coin Protection Act.  Fuljenz assisted the Industry Council For Tangible Assets (ICTA) with lobbying in Washington, DC to get that law approved.

One of the 17 interesting chapters is devoted to “Peter,” an eagle that lived at the Philadelphia Mint in the mid 1800s and inspired coin designs as well as bedtime stories.

Type Three Double Eagles were struck at five mints: Carson City, Denver, New Orleans, Philadelphia and San Francisco.  Unlike Type One Double Eagles, Type Three have the motto, In God We Trust, and unlike Type Two coins the Type Three have the denomination spelled out as TWENTY DOLLARS rather than TWENTY D.

Other noteworthy features of the book include how President Theodore Roosevelt worked with acclaimed sculptor Augustus Saint-Gaudens on the early 20th century “pet crime” of replacing the design of the Liberty Head Double Eagle and other U.S. coins; Type Three Double Eagles in the National Numismatic Collection at the Smithsonian Institution; celebrity coin collectors; and law enforcement tips on how to protect your coins and other valuables from theft.

Known as America’s Gold Expert®, Fuljenz has won dozens of prestigious national and regional awards and honors from the NLG, the Press Club of Southeast Texas and other organizations for his consumer education and protection work in rare coins and precious metals.

A respected community leader 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, is on the ICTA Board of Directors and is a member of the Professional Numismatists Guild.

Published by Subterfuge Publishing, the suggested price for Type Three Double Eagles 1877 – 1907 is $39.95 including shipping.  Copies can be ordered online at www.UniversalCoin.com.

###

Share Button

by admin

Texas eliminates sales tax on precious metal coins

October 4, 2013 in Coins, Gold, Gold Bullion, Gold Coins, Investing, News, Platinum, Platinum Coins, Precious Metals, Silver, Silver Coins

andmark legislation, which went into effect Tuesday in Texas, completely eliminates all taxation of precious metals on the grounds that gold and silver can be considered a currency.

Author: Dorothy Kosich Oct, 2nd 2013 (http://www.mineweb.com)

As of October 1, the sales tax levied on purchases of gold, silver and platinum bullion and numismatic coins in Texas is now eliminated. It is the first time that a state has expanded an existing sales tax exemption for gold and silver.

Previously, Texans were paying 6.25% on all precious metals purchases under $1,000, a tax that was considered especially burdensome to small investors. Gov. Rick Perry signed H.B. 78 into law on June 14.

The legislation puts precious metals on a level playing field with other investments. Proponents of the legislation had asserted the exemption would attract coin shows, auctions and other events to Texas

Full article at source>

Share Button

by admin

Texas seeks to relocate $1 billion in gold bars to state depository

April 3, 2013 in Gold, Gold Bullion, News, Precious Metals

April 2, 2013 by Sarah Jackson (http://bankcreditnews.com)

Gov. Rick Perry (R-Texas) is currently working with Texas lawmakers to bring $1 billion in gold bars owned by the University of Texas Investment Management Company back to the state in an effort to promote economic growth.

Republican Texas state Rep. Giovanni Capriglione has proposed legislation that would establish the Texas Bullion Depository, which would be used to relocate the gold currently housed by the Federal Reserve in New York. Perry and Capriglione said holding the gold within state lines would enhance the state’s reputation as financially sound.

“If we own it, I will suggest to you that that’s not someone else’s determination whether we can take possession of it back or not,” Perry said on the radio show of conservative commentator Glenn Beck.

Full Article>

Share Button
Translate »