Peter T Davis

This is a press release from the ANA.


(Colorado Springs, Colorado) - In response to the growing need for
consumer protection and the risks associated with taking action to
address concerns about numismatic industry practices, the American
Numismatic Association Board of Governors has established a Defense Fund
to assist in defraying the costs of defense for ANA members who find
themselves named in lawsuits after they have taken action to protect
collectors and the numismatic hobby.

This fund will be administered by the ANA and will be funded through
specifically designated member contributions and will not come from ANA
operating funds. It will be used to offset the costs and expenses
associated with numismatic litigation in which Association members find
themselves named. The ANA will make determinations if requests are made
for money from the fund and will work with the membership and the
numismatic industry to solicit contributions to the fund.

According to Christopher Cipoletti, ANA Executive Director, "this fund
is another benefit that we can provide to our members. It allows members
to be proactive in their actions to protect the hobby and those who are
only beginning to become educated in numismatics."

The ANA Defense Fund was established in part as a response to the recent
lawsuit filed by ASA Accugrade against a number of ANA members. While
the ANA's Defense Fund will continue after the conclusion of the
Accugrade lawsuit, contributions made at this time will assist
Association members in their defense of this suit. The ANA does not
condone all of the statements that are alleged by Accugrade and the
Hagers to have been made. However, the ANA found, in a decision
resulting from a complaint filed by Diane Hager, ASA Accugrade
President, against ANA Governor Barry Stuppler that Accugrade fails to
advise buyers of the different grading standards it uses that are not
consistent with industry standards.
Shortly after the ANA's decision on Ms. Hager's complaint, Diane and
Alan Hager resigned their membership with the ANA.

Contributions to the ANA Defense Fund can be made by check or money
order payable to the American Numismatic Association, 818 North Cascade
Avenue, Colorado Springs, CO 80903. Please note "Defense Fund" on the
memo line of the check or money order.

__________________
Your Friendly Host

Take a moment to answer an unanswered question!

National dealer

Long overdue, but very much appreciated.

I would highly recommend that each collector give a little. The people that are standing up for your benefit deserve this.

joecoin

I must admit, I am not a member of the ANA.

In reading this thread, a couple of questions pop into my head.

What happened to the donation that the Hagers made to the ANA?

Who is controlling the defense fund monies, and will help be made available to everyone named in the lawsuit, or only to ANA members, or only to ANA officers?

Strikes me as a little odd that Accugrade was in pretty good graces with the ANA until they named Stuppler in a lawsuit. I do not know any of the people invoved in this.

I do know that this whole thing started mainly because of one individuals efforts to bring to light the non-standardised grading used by Accugrade. I think its too bad the ANA did not back that individual until they got dragged into the mess.

Just my unopiniated 2 cents

Joe

__________________
Joe

Stujoe

I can only say so much about anything doing with this topic (obviously) but my understanding is that the fund will be administered by the ANA and for us ANA members.

I imagine the officers are probably already covered and won't need the fund but I could be wrong as I don't know their particular situations in regard to that.