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Chris Napolitano Named President of Bowers and Merena Auctions

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…)

Stolen Coin Alert: St. Paul, Minnesota

Numismatic Crime Information Crime Bulletin/Alert

The South St. Paul Minnesota Police Department is investigating the September 26, 2010 vehicle burglary of coin dealer Lee Orr. At approximately 2:10pm in the afternoon the victim was loading his vehicle preparing to leave a local coin show in South St. Paul.

When the victim walked back inside the show to retrieve the last of his inventory two white male suspects smashed the windows in his vehicle and removed two cases of coins.

The following is a partial list of coins;
GOLD COINS: 2 1895 $20 Lib Au/Bu Raw 1 1896 $20 Lib Au/Bu Raw 2 1897-S $20 Lib Au/Bu Raw 1 1900 $20 Lib Au/Bu Raw 1 1901 $20 Lib Au/Bu Raw 1 1904 $20 Lib Au/Bu Raw 1 1906 $20 Lib Au/Bu Raw D or S 1 1907 $20 Lib Au/Bu Raw D or S 7 1908 $20 Saint Au/Bu Raw 3 1910-S $20 Saint Au/Bu Raw 1 1913 $20 Saint AU Raw 1 1913-D $20 Saint AU Raw 1 1914-S $20 Saint Au/Bu Raw 1 1915-S $20 Saint Au/Bu Raw 4 1922

DOLLARS: 1 1903-S $1 NGC MS62 White 2 1903-O $1 PCGS MS63 White 1 1901-S $1 PCGS MS64 White 1 1894 $1 VF/XF Raw 1 1893-S $1 PCGS VG original 1 1892-CC $1 AU Raw – White Dipped out. 1 1885-S $1 PCGS MS63 White

HALF DOLLARS – CENTS: 1 1806 50c ANACS VF30 Deep Gray toning with blue between rims & stars 1 1806 50c VF Raw 1 1808/7 50c AU Raw 1 1809 50c AU Raw 1 1811 50c AU Raw 1 1839-O 50c XF/AU Raw – Cleaned & retoned 1 1872-CC 50c VF/XF Raw – Cleaned & retoned 1 1923-S 25c XF40 Raw 1 1896-S 25c AG Raw 2 1896-S 25c Good Raw 1 1913-S 25c Good Raw 1 1807 10c VF Raw – Obv 1 1812 1c AU Raw – Distinct Rim Nick showing bright copper color

4 Double Row Boxes Raw Collector Coins with many key dates 1 Double Row Box Slabs Dollars after 1880, Commemoratives, Gold.

Any dealer or collector having information regarding this offense should contact:
Det. Julie Bishop
South St. Paul PD
612-747-2409
Or
Doug Davis
Numismatic Crime Information Center
817-723-7231

The Numismatic Crime Information Center is a 501 (c)(3) non-profit corporation established as a resource for dealers, collectors, victims and law enforcement during the investigation of a numismatic crime. All donations are tax deductible.