Bowers and Merena Auctions, one of the world’s preeminent auctioneers for rare coins and currency and a subsidiary of Spectrum Group International, Inc. (SPGZ.PK), announced today that noted numismatic professional Chris Napolitano has joined the 27-year-old auction house as president. At the same time, Spectrum Group International (SGI) reported that its Collectibles Division achieved a record $45 million in worldwide aggregate auction sales for the three months ended December 31, 2010, its second fiscal 2011 quarter.

Mr. Greg Roberts, CEO of Spectrum Group International: “His numismatic knowledge is virtually unsurpassed, and I have tremendous confidence in his business and leadership abilities. Along with the addition of Chris, who will be relocating to Orange County, Bowers and Merena has also acquired certain assets of Summit Rare Coins, furthering our goals of expansion and growth.”

A collector since childhood, Mr. Napolitano decided to make numismatics his life’s career in 1989 with the founding of Summit Rare Coins, Inc., serving as president and CEO since its inception. Under Mr. Napolitano’s leadership spanning more than two decades, the company has handled in excess of $250 million in rare coins, including many classic American rarities, and has attended every major show and auction during that period. In 2001, Mr. Napolitano co-founded American Rare Coins and Collectibles with locations in St. Paul and Minneapolis, which he helped to grow into a $20 million business. Mr. Napolitano belongs to many important numismatic organizations and is a Lifetime Member of the American Numismatic Association.

Mr. Napolitano has personally handled approximately 80 of the coins featured in the popular numismatic reference book by Jeff Garrett, “100 Greatest U.S. Coins,” along with many notable pedigrees. He counts the L. Rogers 1794 FH $1 in PCGS 66 among his favorites, and other career highlights that include:

* 1794 50c PCGS 64
* 1793 Chain 1c PCGS Specimen 67 BN
* 1793 Wreath 1c PCGS Specimen 68 RED
* 1870-S Seated $1 PCGS AU 58 EX-NORWEB
* 1893-S $1 PCGS 67 EX-NORWEB/JACK LEE
* 1870-CC 25c NGC 64 EX-ELIASBERG
* 1856-O $20 PCGS 58 EX-AMON CARTER

“My mission in business has always been to provide great service and the right product — at the right price — to both the wholesale and retail community,” Mr. Napolitano said. “I have known Bowers and Merena throughout my career in this industry, and I am excited to join such a highly regarded business that shares my goals.”

“We are very happy to welcome Chris to our team,” said Greg Roberts, president and CEO of SGI. “His numismatic knowledge is virtually unsurpassed, and I have tremendous confidence in his business and leadership abilities. Along with the addition of Chris, who will be relocating to Orange County, Bowers and Merena has also acquired certain assets of Summit Rare Coins, furthering our goals of expansion and growth.” (more…)

Spectrum Group International, Inc. (SPGZ.PK) announced today that it has entered into a new employment agreement with SGI President and Chief Executive Officer Greg Roberts. Mr. Roberts will also continue to serve as a member of the SGI Board.

In addition the Company announced that it has joined the Fortune 500 group of America’s largest companies. SGI is ranked at number 480, with $4.3 billion in annual revenue for 2009 and earnings per share of 23 cents on net income of $7.1 million.

In making the announcement, the SGI Board cited Mr. Roberts’ strong operational and financial leadership. “Greg is a great leader who has demonstrated an extraordinary and consistent ability to deliver results over his ten years with the Company, first as head of our West Coast operations for eight years and then as President and CEO of SGI as a whole,” said SGI Executive Chairman Antonio Arenas. “Greg has strengthened SGI’s brands, instituted operational initiatives, forged important long-term relationships with customers and other partners, and driven several significant acquisitions. Most important, he has revived our creative spirit. With nearly 30 years of industry experience and a unique connection to SGI, Greg has the perspective and the vision to lead SGI to new levels of success for many years to come.”

A significant portion of Mr. Roberts’ compensation is in the form of a performance-based bonus, which is subject to the achievement of certain financial targets. Compensation Committee Chairman Jay Moorhead commented, “Our primary goal in reaching a new agreement with Greg was to align his interests with those of the SGI’s shareholders. With this agreement, I think we have achieved this goal.”

Mr. Roberts said, “I have had the privilege of leading an incredible team in a job that I truly love and a business that I am passionate about. I look forward to guiding the Company into the bright future we see ahead.”

Mr. Roberts continued, “We are obviously very pleased to join the Fortune 500. After several very challenging years for our company and the economy as a whole, we feel especially proud that we were able to excel during these difficult times and come out strong. The Spectrum Group International family of companies has grown tremendously in the past 18 months, in both our collectibles divisions and especially our metals trading company, A-Mark Precious Metals. This is a true milestone for us.” (more…)

Teletrade, the largest fully-automated telephone and Internet auction company for certified coins, paper money and sportscards, has been named the official auctioneer of the twice-a-year Santa Clara Coin, Stamp & Collectibles Expo beginning with the next show, November 19 – 22, 2009, in the Santa Clara, California Convention Center. The deadline for consignments for the Santa Clara auction is November 2.

[Photo Caption: Ron Gillio, Santa Clara Expo General Chairman, and Irma Kane, Customer Service Manager of Teletrade which is now the official auctioneer of the Santa Clara Coin, Stamp & Collectibles Expo ]

“The timing of the regularly-scheduled Teletrade auctions in conjunction with the Santa Clara Expo will be excellent for buyers and sellers across the country as well as those who come to the show in person,” said Ronald J. Gillio, Expo General Chairman.

“Each Santa Clara Expo is held Thursday to Sunday. Teletrade will close its scheduled Sunday auctions those two weeks each year on the last day of a Santa Clara show. In addition to the usual online lot viewing, bidders will be able to inspect Santa Clara auction coins in person at the show prior to the close of bidding.”

Teletrade conducts three coins auctions every week on Sundays, Mondays and Wednesdays.

“All items offered in Teletrade auctions are certified by Professional Coin Grading Service (PCGS), Numismatic Guaranty Corporation (NGC), ANACS or Independent Coin Grading (ICG). We have over 175,000 registered bidders, and we are the largest and most active marketplace in numismatics,” said Ian J. Russell, President of Teletrade.
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