Auburn, Washington, February 6, 2008 (revised 2-7-08)– This dispute between Northwest Territorial Mint and the Attorney General of Washington is about our policy of pricing of metals.

Furthermore, the press release issued by the Attorney General of Washington is inaccurate and deceptively misleading.

Investors from around the United States and Canada can buy and sell precious metals such as gold, silver, platinum, and palladium from Northwest Territorial Mint without having a pre-existing account.

Northwest Territorial Mint locks its clients in to the current price of metal at the time of purchase or sale.

We then expect those clients who buy from us to remit payment within two business days, or, if selling, to ship within two business days. (more…)

Robert Palmatter’s passion for coin collecting first began in grade school when he gathered and cataloged coins as a hobby. It reignited with a new intensity in 1987 when he went along with his nephew to a coin store to advise the boy; and the next thing he knew, he was coin collecting and soon was a coin dealer.

“I call it the collector gene; you’re either born with it or not,” he said. “There is no explaining it.”

That all changed Jan. 26. That was night Palmatter was attacked by at least two robbers who had targeted him and his coin collection as he returned to his home in an exclusive neighborhood in Spring Lake Township. Read Full Story

An Auburn company that sells gold and silver bullion and coins to investors failed to deliver products on time and gave refunds that were unfair to customers, the state said in a lawsuit filed Wednesday.

The attorney general’s complaint, filed in King County Superior Court, accuses Northwest Territorial Mint of violating the state Consumer Protection Act and seeks penalties of up to $2,000 per violation and refunds for customers.

Ross Hansen, company owner, said the company sometimes has been late in its deliveries to customers because the U.S. and Canadian mints have shipped items late to his company, but he said he has caused no financial harm to his customers. Read Full Story

AGAIN REJECTS MILLER’S CLAIM TO STATUTORY DAMAGES OF $10.5 MILLION RULES THAT HE MUST PROVE DAMAGES AT TRIAL

NEWPORT BEACH, Calif., Feb. 5 /PRNewswire-FirstCall/ — Collectors Universe, Inc. (Nasdaq: CLCT), a leading provider of value-added authentication and grading services to dealers and collectors of high-value collectibles, and dealers of diamonds and colored gemstones, reported that on February 1, 2008 the Appellate Court issued its second decision in the William Miller case — after considering Miller’s petition for rehearing — again ruling that, contrary to Miller’s assertions, he is not entitled to statutory damages of $10.5 million.

As previously reported, Miller argued that he was entitled, under California law, to statutorily prescribed damages of $750 for each alleged use of his name made by Collectors Universe without his consent and that, since Miller claims that his name appeared on 14,060 authentication certificates issued by Collectors Universe, he was entitled to statutory damages of $750.00 times 14,060, or approximately $10.5 million in total. (more…)

LANSING–Not all that glitters is gold, and not every shiny new coin is a wise investment — not even, say, a $5 Elvis Presley commemorative coin issued by the Marshall Islands.

. But many unsophisticated coin investors and collectors don’t understand that, according to a Macomb County lawmaker.

Rep. Steve Bieda, D-Warren, wants to extend Michigan’s consumer protection law to companies and foreign governments that advertise coins as “legal tender” when those items aren’t U.S. coins currently in circulation.

“If something is called a `coin,’ it has face value or denomination, and there’s the assumption you can use it as money in the country of origin or redeem it at the exchange rate,” Bieda said.

“Sometimes you can’t use them as money even in the entity that produced them,” he said. Read Full Story