“The scholarship will cover airfare, tuition for one of the two week-long Summer Seminar sessions in June or July, meals and six nights of dormitory accommodations on the campus of Colorado College, site of the ANA headquarters,” said PNG Executive Director Robert Brueggeman.

“All young numismatists between the ages of 13 and 22 are eligible to enter and are cordially invited to apply for the scholarship. Entrants must submit a short essay outlining why they should be chosen as the 2011 scholarship recipient. The deadline for receipt of the entries is March 31, 2011,” said PNG President Paul Montgomery.

Entries must include the applicant’s name and contact information. The essays can be sent by email to info@PNGdealers.com or by mail to the PNG Executive Director, 28441 Rancho California Road, Suite 106, Temecula, CA 92590.

The two separate 2011 ANA Summer Seminar week-long sessions will be held Saturday, June 25, to Friday July 1, and from Saturday, July 2, to Friday, July 8. Participants ranging from teenagers to senior citizens spend 25 hours taking one course of their choice about specific coins or paper money or the hobby’s technical or business aspects. Additional information about the Summer Seminar sessions can be found on the ANA website, www.money.org.

“We are thankful that the PNG recognizes the value of providing young collectors a chance to realize their full numismatic potential, and offering a scholarship to the ANA’s Summer Seminar is a great start. We want to thank the PNG for generosity in providing this YN scholarship and for promoting the ANA’s education programs,” said Susan M. McMillan, ANA Education Project Manager.

Photo caption: picture taken at the Chase Manhattan Money Museum circa 1945 when Vernon Brown was curator. Image from The E-Sylum

The money to pay for the annual PNG YN Scholarship is administered from PNG’s Gerald Bauman Memorial Fund. Bauman, who died in 2001, served for many years as a prominent coin dealer with Manfra, Tordella & Brookes in New York City.

The PNG is a nonprofit organization composed of many of the top rare coin and paper money dealers in the United States and seven other countries. PNG member-dealers must adhere to a strict Code of Ethics in the buying and selling of numismatic merchandise. For additional information, visit online at www.PNGdealers.com or call (951) 587-8300.

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3. Win a Full Scholarship and Free Airfare to ANA Summer Seminar!

Bowers and Merena Auctions

“The ANA is very pleased with the selection of Bowers and Merena as the Official Auctioneer for the ANA Pre-Show Auctions,” said Larry Shepherd, ANA Executive Director. “We are working to ensure that our official ANA Pre-Shows are great events for everyone, and we are excited that Bowers and Merena’s top-tier auctions will be a significant part of these events.”

Bowers and Merena will hold live auctions of coins and paper money including:

• U.S. Coins, U.S. Colonial Coins, U.S. Tokens, U.S. Exonumia
• U.S. Paper Money, World Paper Money
• Ancient and World Coins

The Bowers and Merena Auctions will increase the availability of numismatic material at the World’s Fair of Money convention which starts immediately after the ANA Pre-Show ends.

“We are thrilled to continue our relationship with the ANA and honored to have been entrusted with the rights to host the Official ANA Pre-Show Auction for the next three years,” said Greg Roberts, CEO of Bowers and Merena Auctions. “The ANA World’s Fair of Money is one of the most important coin shows in the world and the ANA Pre-Show presents an amazing auction venue. We look forward to working with such a well-respected organization as the ANA.”

The ANA Pre-Show is scheduled the three days prior to each ANA World’s Fair of Money convention. The 2011 Chicago ANA Pre-Show will be held Aug. 13-15 at the Donald E. Stephens Convention Center in Rosemont. In 2012 the ANA Pre-Show will be held Aug. 4-6 in Philadelphia at the Pennsylvania Convention Center. The ANA Pre-Show returns to Chicago Aug. 10-12 in 2013.

Headquartered in Irvine, Calif., Bowers and Merena Auctions is a world leader in numismatic auctions. For more information, visit www.bowersandmerena.com or call 800-458-4646.

The American Numismatic Association is a congressionally chartered nonprofit educational organization dedicated to encouraging people to study and collect money and related items. The ANA helps its members and the public discover and explore the world of money through its vast array of education and outreach programs, as well as its museum, library, publications, conventions and seminars. For more information, call 719-632-2646 or visit www.money.org.

Related posts:

1. Bowers And Merena Auctions To Reopen Direct Buying & Selling Division, Bowers And Merena Rare Coin Galleries
2. BOWERS AND MERENA AUCTIONS NAMES MATTHEW QUINN DIRECTOR OF CURRENCY AUCTIONS
3. BOWERS AND MERENA AUCTIONS REALIZES MORE THAN $4.2 MILLION IN BALTIMORE IN JUNE

“I’m very pleased to have received multiple strong bids for these prestigious auctions,” Shepherd said. “This reflects a renewed confidence auction companies have that the ANA can host high-quality auctions with exceptional potential.”

Shepherd was also pleased that Stack’s bid included a commitment to support the Association’s educational programs and seminars at the World’s Fair of Money and in New York City, where Stack’s is headquartered. “In a very competitive bidding process, Stack’s commitment to ANA educational programs was an important consideration,” Shepherd said.

“We believe strongly in the educational mission of the ANA,” said Stack’s President Christine Karstedt. “This is a great opportunity for Stack’s to deliver first-rate auctions in association with the hobby’s premier membership organization. We look forward to holding extraordinary auctions in Chicago and Philadelphia.”

Live auctions will be held during the 2011 Chicago World’s Fair of Money, Aug. 16-20; the 2012 Philadelphia show, Aug. 7-11; and the 2013 Chicago show, Aug. 13-17.

Stack’s, founded in 1935 by Joseph B. and Morton Stack, is holding its 75th Anniversary Auction in Baltimore this November. No other numismatic auction company has ever had such an anniversary. For more information, visit www.stacks.com.

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2. Heritage Selected as 2010 Official ANA Auctioneer
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Forty-eight ANA members, showing 68 exhibits, competed in this year’s Collector Exhibits program. There also were 6 non-competitive exhibits.

Brett Irick received the Howland Wood Memorial Award for Best-in-Show for his exhibit, “Canadian Coins of 1947-1948.” The Radford Stearns Memorial Award for Excellence in Exhibiting, presented to the first and second runners-up, was awarded to John W. Jackson for “United States Interest-Bearing Proofs” and Simcha Laib Kuritzky for “The Jewish Lion,” respectively.

Richard Margolis won the Thos. H. Law Award for First-Time Exhibitors for “Benjamin Franklin: Early Medals and Medallions.” The Rodger E. Hershey Memorial People’s Choice Award, chosen by convention attendees, was given to Jeffrey Feuerman for “National Bank Notes of Massachusetts.” Feuerman’s exhibit also received the Ira & Larry Goldberg Award for Best Exhibit of Coins that Made History. Zachary Beier received the Derek Pobjoy Award for Best Exhibit of Modern Circulating Commemorative Coins for “Who Would Have Guessed? From a Log Cabin to the White House.”

The ANA presented competitive exhibit awards for Young Numismatists (YN) age 17 and under. The Charles H. Wolfe Sr. Memorial Award for YN Best-in-Show exhibit was presented to Benjamin Gastfriend for “Elongated Coins Featuring John F. Kennedy.”

Cindy Wibker received the Joseph E. Boling Award for Judging Excellence.

The following class exhibit awards were presented:

Class 1: United States Coins – Lelan G. Rogers Memorial

First Place – John M. Frost, “Rarities, Bargains and Neat Stuff”

Second Place – Carl B. Waltz Jr., “Matte Proof Lincoln Cents, 1909-1916”

Third Place – George B. Fitzgerald, “Rarest U. S. Silver Coin Issued for Circulation”

Class 2: United States Fiscal Paper – Sidney W. Smith/William Donlon Memorial

First Place – John W. Jackson, “United States Interest-Bearing Proofs”

Second Place – Robert Rhue, “The Colored Seal Notes of Colonial Georgia”

Third Place – Josh Wadsworth, “It’s All About the Numbers on U. S. Small-Sized Paper Money”

Class 3: Medals, Orders, Decorations and Badges – Burton Saxton/George Bauer Memorial

First Place – Linda Wolka, “95 Medals and Coins Commemorating the Anniversaries of the Birth of the Protestant Reformation in 1517”

Second Place – John M. Sallay, “School Award Medals”

Third Place – Sandra J. Emme, “A Brief History of Ballooning”

Class 4: Modern U.S. Coins and Modern Medals – American Numismatic Association

First Place – Simcha Laib Kuritzky, “Feline Species Type Set”

Second Place – James Zylstra, “Liberty Dollar: Bona Fide or Bogus?”

Third Place – Joseph Abiuso Jr., “The Story and Examples of Modern Military Challenge Coins”

Class 5: Tokens – B.P. Wright Memorial

First Place – Robert Rhue, “Complete Collection of North American Horsecar Tokens”

Second Place – Not awarded

Third Place – Not awarded

Class 6: Casino Chips and Gaming Tokens – Archie A. Black

First Place – Gerald R. Birl, “Chipco Roulettes—A Revolution in Roulette Chip Artwork”

Second Place – Not awarded

Third Place – Not awarded

Class 7: Engraved Coins – Love Token Society

First Place – Rex Stark, “Enameled Morgan and Trade Dollars”

Second Place – Simcha Laib Kuritzky, “A Zulu Love Token”

Third Place – Fred Schwan, “What Happened on December 31st 1877?”

Class 8: Elongated Coins – Dottie Dow Memorial

First Place – Benjamin Gastfriend, “Elongated Coins Featuring John F. Kennedy”

Second Place – Don Berry, “Progressive Dies (Creating a Masterpiece)”

Third Place – Zachary Beier, “Capturing the Past: Virginia’s Historic Triangle on Elongated Coins”

Class 9: Coins Issued Prior to 1500 A.D. – Dr. Charles W. Crowe Memorial

No exhibits

Class 10: Regional U.S. Numismatics – William C. Henderson/Fred Cihon Memorial

First Place – Gene E. Hynds, “Massachusetts Tiffany Commission Scrip”

Second Place – Christopher Marchase, “The Pioneer Mint of Clark, Gruber and Company”

Third Place – Joseph Abiuso Jr., “The History of the Navajo Squash Blossom Necklace and Use of U.S. Coins”

Class 11: Numismatics of the Americas – Henry Christensen/John Jay Pittman Sr. Memorial

First Place – Brett Irick, “Canadian Coins of 1947-1948”

Second Place – T.E. Klunzinger, “Numismatic Delirium: The Three Singular Notes of 1950 St. Pierre & Miquelon”

Third Place – T.E. Klunzinger, “The Mystery of the Wood Cases for the 1932 Colonization Coins of Brazil”

Class 12: Numismatics of Europe – John S. Davenport Memorial

First Place – Halbert Carmichael, “The History of the English Penny”

Second Place – Michael Morrissy, “Tale of a Short Snorter”

Third Place – T.E. Klunzinger, “The Official Bronze Jubilee Medals of Queen Victoria”

Class 13: Numismatics of Africa and the Middle East – Menachem Chaim and Simcha Tova Mizel Memorial

First Place – Simcha Laib Kuritzky, “The Jewish Lion”

Second Place – James Zylstra, “Traditional Money and the Slave Trade: The Red, Black, White Triangle”

Third Place – Not awarded

Class 14: Numismatics of Asia and the Pacific – William B. Warden, Jr. Memorial

First Place – T.E. Klunzinger, “An 1883-84 Calcutta Exposition Commemorative Medal, Its Maker and Its Recipient”

Second Place – Not awarded

Third Place – Not awarded

Class 15: Gold Coins – Gaston DiBello/Melvin and Leona Kohl Memorial

No exhibits

Class 16: Numismatic Errors and Error Varieties – Numismatic Error Collectors

First Place – Zack Kaleky, “Position is Everything When Collecting Off-Center Cents”

Second Place – Richard J. Ziegler, “1982 Doubled Die Reverse Discovery Coin”

Third Place – Fred Wersan, “Wooden Nickel Errors Help Us Learn About the Printing Process”

Class 17: Numismatic Literature – Aaron Feldman Memorial

No exhibits

Class 18: General, Specialized, and Topical – Robert Hendershott Memorial

First Place – Richard Margolis, “Benjamin Franklin: Early Medals and Medallions”

Second Place – Robert Rhue, “1843-44 Scrip from the Islands of Maui, Hawaii and Tokens Related to One Issuer”

Third place – Thomas J. Leib, “Daniel Chester French’s Lost Architectural League Medallion”

Class 19: Convention Theme – Clifford Mishler

First Place – David Menchell, “Medals of the Massachusetts Charitable Mechanic Association Struck at the U.S. Mint”

Second Place – John M. Sallay, “Boston School Medals”

Third Place – John R. Eshbach, “The Women’s Auxiliary of the Massachusetts Service Reform Association Medal of 1905”

2010 ANA YN EXHIBIT AWARDS

Class Y1: United States Coins – Edgerton-Lenker Memorial

First Place – Simon Beier, “Jamestown Celebrated in Coins”

Second Place – Not awarded

Third Place – Not awarded

Class Y2: World Coins – James L. Betton Memorial

First Place – Simon Beier, “Coins of Flight”

Second Place – Andrew Hageman, “Foreign Coins Made at the U.S. Mint”

Third Place – Simon Beier, “Cruise Adventure…Creatures of the Sea”

Class Y3: Paper Money – Kagin Family

First Place – Josh Wadsworth, “It’s All About the Numbers on U.S. Small-Sized Paper Money”

Second Place – Not awarded

Third Place – Not awarded

Class Y4: Israeli or Judaic – J.J. Van Grover Memorial

No exhibits

Class Y5: Medals and Tokens – Charles “Cheech” Litman Memorial

First Place – Benjamin Gastfriend, “Elongated Coins Featuring John F. Kennedy”

Second Place – Not awarded

Third Place – Simon Beier, “Riding the Rails”

Class Y6: Medieval and Ancient – Charles H. Wolfe Sr. Memorial

No exhibits

Class Y7: Errors and Varieties – Alan Herbert

First Place – Zack Kaleky, “Position is Everything When Collecting Off-Center Cents”

Second Place – Nicolas Dresmich, “A Clip Clock of the World’s Fair of Money”

Third Place – Not awarded

The American Numismatic Association is a nonprofit educational organization dedicated to encouraging people to study and collect money and related items. The ANA helps its members and the public discover and explore the world of money through its vast array of education and outreach programs, as well as its museum, library, publications, conventions and seminars. For more information, call 719-632-2646 or visit www.money.org.

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Under Section 9006 of the Patient Protection and Affordable Care Act, commonly known as health care reform legislation, businesses will be required to report all goods and services purchased in excess of $600 with an IRS 1099 form. As written, the law would, beginning in 2012, require all coin dealers to report on IRS form 1099 all goods and services (totaled across a taxable year) they purchase from other dealers and customers in excess of $600.

While the legislation applies to all types of businesses, an unusual burden would be placed on numismatic dealers who, unlike most businesses, buy goods and services from each other and their retail clients. In addition, dealers will be required to gather personal information on all clients who sell them goods or services in excess of $600, including name, address and social security number.

“All dealers will be disproportionately and unfairly impacted by this legislation,” said ANA Executive Director Larry Shepherd. “As a former dealer, I can see how a small-to-medium-sized dealer could easily be required to submit 1,000 or more 1099s in a typical year, at very significant cost. In addition, all collectors would be forced to give out personal information that could increase the possibility of identity theft. This section of the healthcare reform bill is a nightmare for everyone in this hobby. We need to make sure that our voices are heard.”

Shepherd cautioned that the numismatic community should understand that this is not a new tax, but rather a method by which the IRS can collect more information in hopes that more taxpayers will report taxable income. The assumption is that the new regulation would generate about $17 billion over 10 years, increasing tax revenue to cover some of the costs of health care reform.

Already, Rep. Dan Lungren (R-CA) has introduced HR 5141 to repeal this part of the health care reform act, and Sen. Mike Johanns (R-NE) has introduced a companion bill in the Senate, S. 3578. Both bills are titled “The Small Business Paperwork Mandate Elimination Act,” and will likely need more co-sponsors in the House of Representatives and Senate.

“The ANA urges everyone who loves this hobby to contact your representatives and urge them to sign on to HR 5141 and to contact both your senators and urge them to sign on to S. 3578,” Shepherd said.

The ANA has posted sample letters from dealers or collectors below and on its website at www.money.org.

For contact information on your members of Congress, go to www.house.gov or www.senate.gov. Anyone without a computer should contact the local office of your representative or senator, or call the U.S. Capitol at 202-224-3121.

Following are messages, developed by the Industry Council for Tangible Assets (www.ictaonline.org) that can be sent to your representative (HR 5141) or senator (S 3578).

Version for Collectors/Investors

Subject: SUPPORT (either HR 5141 or S 3578): Small Business Paperwork Mandate Elimination Act

Please repeal the new IRS Form 1099 requirement found in Section 9006 of Public Law 111-148, the Health Care Reform Act, that requires all small businesses to issue a tax information reporting form to virtually all of their customers and vendors, including corporations. This will be devastating to all small businesses.

This new law creates a monumental increase in paperwork for small businesses already overburdened by government regulation and reporting requirements.

In addition, I will be required to give my confidential tax ID information to many businesses that may not be capable of keeping this information secure. I am concerned about identity theft as I am required to provide my Social Security number and other identifying information when conducting transactions. When showing my driver’s license as proof of identity, the license includes my name, address and date of birth!

I urge you to co-sponsor HR 5141 (or S 3578) to prevent this business and personal security nightmare.

Version for Dealers

Subject: SUPPORT (either HR 5141 or S 3578): Small Business Paperwork Mandate Elimination Act

Please repeal the new IRS Form 1099 requirement found in Section 9006 of Public Law 111-148, the Health Care Reform Act, that requires all small businesses like mine to issue a tax information reporting form to virtually all of our customers and vendors, including corporations. This will be devastating to my small business.

I buy and sell rare coins, currency, precious metals, and collectibles that I purchase for my inventory from hundreds of other dealers, as well as from my retail clients. (Other than a few items that can be obtained from the U.S. Mint, these are the only sources of my merchandise.) This new 1099 provision will require me to file hundreds, if not thousands, of forms. Further, it is not simply a matter of completing the form, but also the work and time involved in obtaining the proper tax identification number and dealing with backup withholding requirements.

In addition, I will be required to obtain confidential tax ID information from my colleagues and customers and also be responsible for safekeeping that confidential data.

I urge you to co-sponsor HR 5141 (or S 3578) to prevent this business and personal security nightmare.

Access the following link to view, cut and paste sample letters on www.money.org:
http://www.money.org/Content/NavigationMenu/Security/1099Letters.htm

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