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<p>[QUOTE=&quot;Indianhead65, post: 290364, member: 103422&quot;]<b><u>Coin World- August 27, 2007 issue</u></b></p><p>&nbsp;</p><p>Judge grants motion in &quot;First Strikes&quot; suit</p><p>NGC case deal may benefit ANA</p><p>by Cindy Brake</p><p>Coin World staff</p><p>&nbsp;</p><p>&nbsp;A lawsuit against a second grading service concerning the use of the &quot;First Strikes&quot; designation has moved one step closer to a settlement and could financially&nbsp; benefit the American Numismatic Association.</p><p>&nbsp;United States District Judge Jose M. Martinez signed an order granting a joint motion for preliminary approval of class action settlement on July 19 in a lawsuit filed by Thomas Francisco against Numismatic Guarantee Corporation of America of Sarasota, Florida.</p><p>&nbsp;Francisco filed two complaints during November in the United States District Court for the Southern District of Florida in Miami, against NGC and against Collectors Universe Inc. doing business as Professional Coin Grading Service.</p><p>&nbsp;The lawsuits alleged that in 2005 and 2006 both grading services &quot;deceptively labeled U.S. bullion coins (American Eagle silver and gold bullion coins and American Buffalo gold $50 dollar coins) as being &quot;First Strikes&quot; so as to be worth more money&quot;, with the knowledge that &quot;its customers were marketing the coins labeled &quot;First Strikes&quot; as being more valuable or special when in fact there was no way to know which coins were &quot;First Strikes.&quot; The lawsuit filed by Francisco against NGC notes that the designation &quot;First Strike&quot; has a meaning in the world of coins that a particular coin is one of the first coins struck by the Mint from a certain die set. NGC designated coins shipped by the Mint during the first month after release as &quot;First Strikes&quot;.</p><p>&nbsp;</p><p>&gt; Monetary Recovery - NGC will contribute $650,000 to a settlement fund that will be distributed to the ANA or another such charity as the court may approve. The funds are earmarked for the education of the coin collecting public. Parties agreed that members of the class are difficult to determine; individual distributions would be cost prohibitive; and the distribution process could lead to fraudulent claims.</p><p>&nbsp;</p><p>&gt; Injunction Relief - NGC and its affiliated companies shall not designate any coin as a &quot;First Strike&quot; coin unless the coin is certified to be one of the first coins struck as part of a ceremonial striking by the U.S. Mint on the first day of minting. </p><p>&nbsp;</p><p>The article goes on but what I&#039;ve posted covers the point. This is not the article I mentioned earlier about the interview with Mint Director Moy, I couldnt find that issue right at the moment.[/QUOTE]</p><p><br /></p>

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