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All Posts Tagged With: "Profession Numismatist Guild"

Laura Sperber Meets with PNG Board to Discuss Coin Doctoring

The Following is taken from Laura Sperber’s Hot Topics concerning her invitation to meet with the Board of Directors of the Professional Numismatists Guild [ www.pngdealers.com ] on June 2nd in Long Beach, CA., to discuss the issue of “Coin Doctoring” in light of the PCGS Lawsuit filed against 6 coin dealers, three of which are PNG Members.

First, I would like to thank the PNG Board of Directors for giving me the opportunity discuss my grievances direct. They seemed genuinely interested in what I had to say, however that is where it ends.

To make sure I am not overreacting, I waited until I was back home to write this. Plus, I wanted to see what the PNG press release had to say. Unfortunately my gut instinct was correct.

THE PNG MEETING I ATTENDED WAS A SLOW MOTION TRAINWRECK. EVERYONE ON BOARD HAD THEIR HANDS OVER THEIR EYES.

Even though the board was attentive, they were highly combative. MULTIPLE times they told me they are a REactive group, not a proactive one. They proved to me with out a doubt they do not have a grasp on the situation and no matter what rhetoric they release, they will do very little about it.

The most damning statement they said: “WE HAVE NEVER HAD A COMPLAINT ABOUT COIN DOCTORING FROM ANYONE”. Ok, so in their eyes there had been no problem? Adding to that, they dwelled on the fact “people knew we were here”. Who the heck is going to complain to them? Collectors had to go to the services to be made whole. Besides, according to the PNG, just having an altered coin is proof of nothing. Still, I freak when I think about how no one at the PNG knew there was this horrible abuse happening-some of it created by their own membership. Talk about denial.

They did ask me what I would do about the 3 members in the lawsuit. Of course I said “suspend them”. They hammered back with “we can’t suspend the members in the lawsuit. Its a complaint. There has been no trial, they are not guilty”. Another member said “we’d love to take action, We can not do so on hearsay”. Unless the PNG learns to stop living in fear of being sued by its members and take the actions it should, they will NEVER be able to effectively control them.

The best one was when the board challenged me. They dragged a name of a coin doctor from me acting like they would take action (stupid me). I told them I saw him put putty on a coin at a show. They charged back: What proof do you have? Do you have photos, what solid proof?” One member wanted me to go start my own lawsuit. Give me a break.

Here is the ultimate proof they do not have grasp of the situation: one member said to me: “You sell puttied coins”. My response,: “so do you”. He failed to understand the problem is with coin doctoring. We do NOT intentionally sell puttied coins-ever, nor does he. Its the coin doctors who fraudulently try and get this crap by the grading services who are the problem. They couldn’t even grasp that-one member said “aren’t the grading services supposed to catch this?.

As the meeting went on, I was called a hypocrite yet also was asked to help them. It ended up exactly how I knew it would-they would have a debate to decide the definition of coin doctoring before moving on. I asked them, “being so quick to take NGC’s money as the preferred grading service, why did they not know any of this and why do they have to debate the definition?”. Their state of denial is unbelievable. These guys are dealers, dealers who do shows, dealers who do retail, how the hell can they not know about coin doctoring? In my opinion, this is far worse than a case of selective retention. (more…)