ANA Establishes Legal Defense Fund

Discussion in 'World & Ancient Coins' started by Peter T Davis, May 14, 2004.

  1. Peter T Davis

    Peter T Davis Administrator Moderator

    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.
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  3. National dealer

    National dealer Coin 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.

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