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<p>[QUOTE="airedale, post: 137495, member: 4695"]<b>Rebuttal to PNG Grading Services Survey - How interesting!</b></p><p><br /></p><p>Where was I while all this was going on?</p><p> That survey did seem a little holier than thou to me however with only 140 or so respondents.</p><p><a href="http://www.swcgs.com/ASA_v_ANA.html" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://www.swcgs.com/ASA_v_ANA.html" rel="nofollow">http://www.swcgs.com/ASA_v_ANA.html</a> </p><p>I think this thing just got to trial this month!</p><p><br /></p><p>By the principal of ACG Grading Company</p><p><br /></p><p>After reviewing the <b>PNG-ITCA Survey </b>in Coin World so many questions come to mind. </p><p>I wonder how many of your readers know the FACTS about some of the leading members of this Industry? Let’s just start with those that are PNG/ITCA/PCGS members and or owners. On July 20,1989 in an FTC Press Release “FTC FILES CHARGES AGAINST COIN CERTIFICATION CO. AND COIN WHOLESALER; COMPANIES TO PAY CONSUMER REDRESS”. The coin certification company that they are referring to is NCI, Numismatic Certification Institute, owned by Steve Ivy and James Halperin. NCI’s affiliate, Heritage Capital Corporation, was also charged. “Under the settlement, the companies and two individuals agreed to a permanent injunction, and Heritage and NCI agreed to contribute $1.2 million into a consumer redress plan...” FTC File No. 882-3208, Civil Action No. 89-1383 CIV-NESBITT), <a href="http://www.ftc.gov" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://www.ftc.gov" rel="nofollow">www.ftc.gov</a>, Barron’s, 6/19/89, pp.16-32. NCI is still listed on the CDN price sheet. </p><p>On February 9,1990 the FTC issued the following Press Release, ”SPECIAL COUNSEL APPOINTED AT REQUEST OF FTC RECOVERS ADDITIONAL FUNDS FOR CONSUMERS IN RARE COIN COMPANY BANKRUPTCY.”.The release states, ”Today’s additional settlements bring total recovery in excess of $4 million.” “In February 1987, the FTC brought suit against Standard Financial Management Corp., charging, among other things, that the company falsely represented that its coins were of a specific grade, when in many cases the coins were of a significantly inferior grade... </p><p>Shortly after the FTC suit, the Special Counsel initiated bankruptcy proceedings brought various actions against several principals and suppliers of Standard Financial Management Corp. He has succeeded in obtaining settlements from supplier Kevin Lipton and former Standard Financial owner James Halperin for $1.4 million and $1.3 million, respectively.” FTC File No. X870002, <a href="http://www.ftc.gov" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://www.ftc.gov" rel="nofollow">www.ftc.gov</a>.</p><p><br /></p><p>On August 17,1990 the FTC issued a press release regarding PCGS. “FTC CHARGES COIN CERTIFICATION CO. MISREPRESENTS OBJECTIVITY OF ITS COIN GRADING SERVICES; COMPANY AGREES TO SETTLEMENT” The FTC charged that “PCGS misled consumers by falsely claiming that it provides consistent, objective grading of coins and that investment in PCGS-certified rare coins eliminates all the risk associated with the grading of coins.” PCGS/David Hall was charged and placed on probation for 2 years. Civil Action No. 90-1982, <a href="http://www.ftc.gov" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://www.ftc.gov" rel="nofollow">www.ftc.gov</a>, New York Times, 8/17/90 p.D2, The Wall Street Journal, 8/17/90, pp.C1,C12. </p><p>These are the people who are behind this Survey. They are all PNG,ITCA and PCGS members today. Together they were “fined in excess of $4 million.” They will tell us that they disqualified themselves due to ownership and/or partial ownership. Of the estimated 221 PNG members, only four have dealt with Accugrade in the past two years. In February 2001 PNG sent a letter to members who were dealing in ACG coins threatening expulsion. Of the estimated 430 survey forms mailed, 141 were reported filled out and returned, @32 percent. Virtually 68 percent refused to be party to this sham survey. </p><p>The number of PNG and ITCA members who did not participate speaks louder than the 141 who did. 141 monopolist PNG-ITCA members, who are predominantly PCGS dealers, responded out of an estimated 5,000 dealers nationwide (as listed in CDN ‘02 Dealer Directory) to presumably speak for “The Coin Industry.” These 141 find ACG “unacceptable”...this represents @2.8 percent of the Coin Industry. 98 percent of PNG members have never used or dealt in ACG. This survey shows how out of touch PNG-ITCA is with the Coin Industry. </p><p>The fact that PNG has pressured their dealers into NOT dealing in ACG coins, as evidenced in a letter dated 2/28/01 sent out by Robert Bruggerman, Executive Director, then surveys them in regards to USING ASA Accugrade... mystifies me! </p><p>They find ACG to be “unacceptable” in almost all of their “categories”: </p><p>Detecting counterfeits—we have graded four counterfeits out of 300,000 coins in the last three years. I believe that gives Accugrade a 99.9999 percent accuracy rate, we have resolved three and one is pending, how is this unacceptable? </p><p>Customer service, cost, turnaround time, quality of holder—We take great exception to being found generally “unacceptable” in these areas, this furthers my position that these dealers have never even used our service...in 18 years of business we have never had a major complaint, lawsuit, or Government charge. We pride ourselves in out Customer Service Dept., our cost is one of the lowest in the industry. We have never missed a designated turnaround time and the quality of our Holders surpasses all the other services and I challenge them on this matter. Our holders are American-made by a New England craftsman of the highest quality Dupont acrylic and are the safest on the market, no PVC inserts! </p><p>As to Grading guarantees, General marketability and Availability of pricing information—We know these are our weak areas and that is for the following reasons...we are a small company who has been set upon by a Big Corporation and counterfeits have been submitted to our service, in the past, knowingly in the hopes to discredit us. We stand behind the authenticity and the consistency of our grading. Regarding marketability, ACG coins have done very well on e-Bay but CDN still refuses to list them even though CDN lists NCI which is out of business and was sited by the FTC. We were led to believe that when ACG coins reached 80,000 units CDN would list ACG, today we are at 300,000 units, when asked again recently by a California PCGS dealer when ACG will be listed, Sean Downings replied “we’re waiting for them to go away.” When a California entrepreneur/collector came up with a pricing Web site and publication listing ACG prices along with other certified coins, his Web site somehow crashed and he was soon out of business. </p><p>PCGS can’t allow pricing information for any of the small grading services because that would destroy their Franchise. In a free-market system competition should be encouraged and choices allowed to the public. We are not afforded this in the Coin Industry, which certainly raises issues of ANTITRUST and RACKETEERING! </p><p>I will leave you with this thought...The S.S. Central America...coins sold exclusively by Heritage, David Hall, Bowers and Merena and others, mostly PNG members/PCGS dealers. Over 5,000 coins that had been buried at sea for over 120 years encrusted with coral were treated with all kinds of chemicals to remove the encrustations, were miraculously restored to PCGS MS-65 at $15,000.00 a coin. The PCGS holders do not say SEA SALVAGED nor SALT WATER nor CORAL ENCRUSTED, no they have been graded by PCGS as MINT STATE. Have these people changed from 1989, you decide for yourself at <a href="http://www.ftc.gov" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://www.ftc.gov" rel="nofollow">www.ftc.gov</a>.</p><p><br /></p><p><br /></p><p><br /></p><p>ASA Accugrade, Inc. </p><p><br /></p><p> </p><p><br /></p><p>--------------------------------------------------------------------------------</p><p><br /></p><p> </p><p><br /></p><p>Barry Stuppler ANA governor PNG Survey $4 million in FTC fines</p><p>David Hall Coins</p><p>DHRC Coins</p><p>Kevin Lipton Coins</p><p>Robert Bruggerman PNG President</p><p>Collector's Universe</p><p>Positive Protection PNG President</p><p>PCGS</p><p>Coin price guide</p><p>PNG</p><p>The industry ICTA Industry Council for Tangible Assets Survey</p><p>Heritage Rare Coins</p><p>Jim Halperin Coins</p><p>Steve Ivy Coins</p><p><br /></p><p><br /></p><p>WOW! WOW! WOW![/QUOTE]</p><p><br /></p>
[QUOTE="airedale, post: 137495, member: 4695"][b]Rebuttal to PNG Grading Services Survey - How interesting![/b] Where was I while all this was going on? That survey did seem a little holier than thou to me however with only 140 or so respondents. [url]http://www.swcgs.com/ASA_v_ANA.html[/url] I think this thing just got to trial this month! By the principal of ACG Grading Company After reviewing the [B]PNG-ITCA Survey [/B]in Coin World so many questions come to mind. I wonder how many of your readers know the FACTS about some of the leading members of this Industry? Let’s just start with those that are PNG/ITCA/PCGS members and or owners. On July 20,1989 in an FTC Press Release “FTC FILES CHARGES AGAINST COIN CERTIFICATION CO. AND COIN WHOLESALER; COMPANIES TO PAY CONSUMER REDRESS”. The coin certification company that they are referring to is NCI, Numismatic Certification Institute, owned by Steve Ivy and James Halperin. NCI’s affiliate, Heritage Capital Corporation, was also charged. “Under the settlement, the companies and two individuals agreed to a permanent injunction, and Heritage and NCI agreed to contribute $1.2 million into a consumer redress plan...” FTC File No. 882-3208, Civil Action No. 89-1383 CIV-NESBITT), [url]www.ftc.gov[/url], Barron’s, 6/19/89, pp.16-32. NCI is still listed on the CDN price sheet. On February 9,1990 the FTC issued the following Press Release, ”SPECIAL COUNSEL APPOINTED AT REQUEST OF FTC RECOVERS ADDITIONAL FUNDS FOR CONSUMERS IN RARE COIN COMPANY BANKRUPTCY.”.The release states, ”Today’s additional settlements bring total recovery in excess of $4 million.” “In February 1987, the FTC brought suit against Standard Financial Management Corp., charging, among other things, that the company falsely represented that its coins were of a specific grade, when in many cases the coins were of a significantly inferior grade... Shortly after the FTC suit, the Special Counsel initiated bankruptcy proceedings brought various actions against several principals and suppliers of Standard Financial Management Corp. He has succeeded in obtaining settlements from supplier Kevin Lipton and former Standard Financial owner James Halperin for $1.4 million and $1.3 million, respectively.” FTC File No. X870002, [url]www.ftc.gov[/url]. On August 17,1990 the FTC issued a press release regarding PCGS. “FTC CHARGES COIN CERTIFICATION CO. MISREPRESENTS OBJECTIVITY OF ITS COIN GRADING SERVICES; COMPANY AGREES TO SETTLEMENT” The FTC charged that “PCGS misled consumers by falsely claiming that it provides consistent, objective grading of coins and that investment in PCGS-certified rare coins eliminates all the risk associated with the grading of coins.” PCGS/David Hall was charged and placed on probation for 2 years. Civil Action No. 90-1982, [url]www.ftc.gov[/url], New York Times, 8/17/90 p.D2, The Wall Street Journal, 8/17/90, pp.C1,C12. These are the people who are behind this Survey. They are all PNG,ITCA and PCGS members today. Together they were “fined in excess of $4 million.” They will tell us that they disqualified themselves due to ownership and/or partial ownership. Of the estimated 221 PNG members, only four have dealt with Accugrade in the past two years. In February 2001 PNG sent a letter to members who were dealing in ACG coins threatening expulsion. Of the estimated 430 survey forms mailed, 141 were reported filled out and returned, @32 percent. Virtually 68 percent refused to be party to this sham survey. The number of PNG and ITCA members who did not participate speaks louder than the 141 who did. 141 monopolist PNG-ITCA members, who are predominantly PCGS dealers, responded out of an estimated 5,000 dealers nationwide (as listed in CDN ‘02 Dealer Directory) to presumably speak for “The Coin Industry.” These 141 find ACG “unacceptable”...this represents @2.8 percent of the Coin Industry. 98 percent of PNG members have never used or dealt in ACG. This survey shows how out of touch PNG-ITCA is with the Coin Industry. The fact that PNG has pressured their dealers into NOT dealing in ACG coins, as evidenced in a letter dated 2/28/01 sent out by Robert Bruggerman, Executive Director, then surveys them in regards to USING ASA Accugrade... mystifies me! They find ACG to be “unacceptable” in almost all of their “categories”: Detecting counterfeits—we have graded four counterfeits out of 300,000 coins in the last three years. I believe that gives Accugrade a 99.9999 percent accuracy rate, we have resolved three and one is pending, how is this unacceptable? Customer service, cost, turnaround time, quality of holder—We take great exception to being found generally “unacceptable” in these areas, this furthers my position that these dealers have never even used our service...in 18 years of business we have never had a major complaint, lawsuit, or Government charge. We pride ourselves in out Customer Service Dept., our cost is one of the lowest in the industry. We have never missed a designated turnaround time and the quality of our Holders surpasses all the other services and I challenge them on this matter. Our holders are American-made by a New England craftsman of the highest quality Dupont acrylic and are the safest on the market, no PVC inserts! As to Grading guarantees, General marketability and Availability of pricing information—We know these are our weak areas and that is for the following reasons...we are a small company who has been set upon by a Big Corporation and counterfeits have been submitted to our service, in the past, knowingly in the hopes to discredit us. We stand behind the authenticity and the consistency of our grading. Regarding marketability, ACG coins have done very well on e-Bay but CDN still refuses to list them even though CDN lists NCI which is out of business and was sited by the FTC. We were led to believe that when ACG coins reached 80,000 units CDN would list ACG, today we are at 300,000 units, when asked again recently by a California PCGS dealer when ACG will be listed, Sean Downings replied “we’re waiting for them to go away.” When a California entrepreneur/collector came up with a pricing Web site and publication listing ACG prices along with other certified coins, his Web site somehow crashed and he was soon out of business. PCGS can’t allow pricing information for any of the small grading services because that would destroy their Franchise. In a free-market system competition should be encouraged and choices allowed to the public. We are not afforded this in the Coin Industry, which certainly raises issues of ANTITRUST and RACKETEERING! I will leave you with this thought...The S.S. Central America...coins sold exclusively by Heritage, David Hall, Bowers and Merena and others, mostly PNG members/PCGS dealers. Over 5,000 coins that had been buried at sea for over 120 years encrusted with coral were treated with all kinds of chemicals to remove the encrustations, were miraculously restored to PCGS MS-65 at $15,000.00 a coin. The PCGS holders do not say SEA SALVAGED nor SALT WATER nor CORAL ENCRUSTED, no they have been graded by PCGS as MINT STATE. Have these people changed from 1989, you decide for yourself at [url]www.ftc.gov[/url]. ASA Accugrade, Inc. -------------------------------------------------------------------------------- Barry Stuppler ANA governor PNG Survey $4 million in FTC fines David Hall Coins DHRC Coins Kevin Lipton Coins Robert Bruggerman PNG President Collector's Universe Positive Protection PNG President PCGS Coin price guide PNG The industry ICTA Industry Council for Tangible Assets Survey Heritage Rare Coins Jim Halperin Coins Steve Ivy Coins WOW! WOW! WOW![/QUOTE]
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Rebuttal to PNG Survey - How interesting!
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