Well-known numismatist and online auction expert Ian Russell has announced plans to create a new online marketplace catering to coin collectors, dealers and traders. The marketplace, named GreatCollections.com, is set to go live in late 2010.

Russell said, “Coin collecting is one of the most popular hobbies in the United States, and also one of the most conducive to online trading. I think there is the void in the market that GreatCollections can fill. It’s about technology, products and service.”

Until recently, Russell was COO of Collectibles at Spectrum Group International, the parent company of Teletrade and Bowers and Merena, among other auction houses, and continues to consult with them. Russell left the company with the full support and backing of Spectrum, whose CEO Greg Roberts, commented, “We are delighted that Ian is starting his own venture. With Ian’s talent and industry knowledge, GreatCollections.com should be hugely successful. We are glad that we were able to work out a mutually beneficial arrangement to work together during the near-term and possibly beyond.”

On a limited time basis, collectors and dealers can now register and become Foundation Members of GreatCollections. Available only to the first 1,000 members who register prior to GreatCollections.com’s formal launch, this group of special members will receive lifelong benefits such as discounts and exclusive services. To register, visit www.greatcollections.com/register or telephone 949-510-5310.

“If you collect coins, own coins or trade coins, I recommend you register and become a Foundation Member of GreatCollections,” said Russell. “It’s free and will ensure you are notified about the company’s progress over the next few months.”

In addition to creating its own marketplace, GreatCollections will immediately begin offering confidential bidding services at all major live auctions within the United States.

For more information about GreatCollections, its marketplace and confidential bidding services, please contact Ian Russell at 949-510-5310 or e-mail ian@greatcollections.com.

The 59^th annual congress of the International Association of Professional Numismatists (I.A.P.N.) took place in Reykjavik, Iceland in May of 2010. Despite disruptive clouds of volcanic ash interfering with airlines flights the congress was well attended.

Many of the world’s top numismatic firms were in attendance, with eleven countries total being represented. The congress began May 21^st with opening ceremonies by I.A.P.N. President Paul Davies and Olafur Asgeirsson “Director of the National Archives of Iceland”.

Many important topics were discussed during the business sessions. These include the ongoing efforts of The International Bureau for the Suppression of Counterfeit Coins (I.B.S.C.C.) and the work being done to combat forgeries entering the market. The I.B.S.C.C. is a subsidiary of the I.A.P.N that’s primary function is focused on these areas.

Other discussions were held regarding new legislation regarding cultural properties, import regulations and its effects on the numismatic trade. Three new firms were elected including Stephen Album Rare Coins of Santa Rosa, California, Daniel Frank Sedwick of Winter Park, Florida and Patrick Guillard from Paris, France.
The I.A.P.N. also presented its annual book prize. Although many good books were submitted, this year’s winner was Helmut Zottl for his two volume work on the coinage of Salzburg.

Congress attendees were fortunate to visit the Museum of the Central Bank of Iceland where senior numismatist Anton Holt gave a viewing of their numismatic collection. Members were able to view coins tokens and what is considered by many to be the acme of Icelandic banknote collections.

The I.A.P.N. general assembly for 2011 is scheduled to be held in Edinburgh Scotland.
For more information on the I.A.P.N please visit www.iapn-coin.org

Dick Osburn and Wayne Herndon announced that effective June 17 the assets of Dick Osburn Rare Coins were acquired by Wayne Herndon Rare Coins, Inc. of Chantilly, Virginia. Key aspects of the transaction include:

· Dick Osburn Rare Coins will continue to be operated as a separate entity. The company will relocate its headquarters to Chantilly, Virginia and share office space with Wayne Herndon Rare Coins and Wizard Coin Supply, also operated by Herndon. The company will retain a satellite office in Kemah, Texas.

· Dick Osburn will remain active in the business, splitting his time between the Chantilly and Virginia offices. Administrative functions will be provided through infrastructure already in place in Herndon’s organization, allowing Osburn to focus on the numismatic aspects of the business as well as spending more personal time with his wife, Ruth.

· Brian Cushing joins the company as Senior Numismatist. Cushing began his career as a professional numismatist in 2004 at J. J. Teaparty, where he was in charge of coin photography and developed an interest in attributing bust and seated coin varieties. After leaving J. J. Teaparty, Cushing operated Brian Cushing Rare Coins, where he gained additional experience dealing with early U. S. type coins. He was recruited by Herndon in August, 2009, to work on the Osburn transaction. The transition planning has been in progress since that time.

· Osburn and Cushing will manage the numismatic and customer/consignor aspects of the business with Herndon providing strategic, managerial, and administrative support.

· Consigned coins remain with Osburn pending approval of assignment of consignment agreements by individual consignors.

Dick and Ruth explained that “the business has grown to the point where it was becoming more and more difficult for us to manage without hiring additional employees.” The new structure allows the company to make full use of the infrastructure already in place at Wayne Herndon Rare Coins and Wizard Coin Supply while retaining the practices that have made Dick Osburn Rare Coins one of the most respected dealers in the industry and the national leader in the marketing of U. S. bust and seated coinage.

In the coming months the company will be making significant upgrades to its technology. “We invested heavily in a technology platform for Wizard Coin Supply that we can now leverage across Dick Osburn Rare Coins,” noted Herndon. Planned improvements include a fully e-commerce-compatible website with digital coin images and shopping cart functionality.
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