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It’s Show Down Time for the PNG

Laura Sperber – Hot Topics

After a year or two of dodging the bullet, this week at CSNS the all mighty PNG will be voting to accept or reject a definition of coin doctoring. There is absolutely NO excuse to push it back, cancel, or delay the vote. The membership was given this information in advance. While I have not seen the definition, I already fully support it-because I believe the 20 or so people who helped draft it want nothing more then to stop coin doctoring. For ANY PNG member NOT to vote FOR this, says volumes about which side they are on or who they are. Even the smaller dealers who have felt bullied, now can make a difference.


What a wake up call the PNG and its membership will get. Those coin docs who thought they’d never be spanked-its coming. No more wall of silence from your buddies. I predict after the first complaint is filed and action taken, you WILL see a dramatic reduction in current doctoring. This definition (if adopted) mean action. It will allow collectors with doctored coins to be able to file direct complaints at the PNG members who sold them the coins. A few big RETAIL dealers who have been mules WILL finally be exposed as will some other shocking entities. Finally, collectors WILL be able to bring the docs to justice-even if the grading services or fellow coin dealers can’t or won’t. Voting FOR adoption will be a game changer for the PNG and the collecting community. The PNG finally would be showing the collector and its membership its stands for GOOD, NOT EVIL. Of course you can bet the ranch the PNG will do its best to change the meaning, avoid trials, etc. That will be another crusade.

A YES vote will put the PNG in a positive view of the public. The public has to realize, its only a baby step for the PNG. Don’t think all the docs in the organization won’t do their best to render the definition useless. Today, the PNG is a mistrusted wasted organization that certainly can not police itself. Voting YES, WILL be a HUGE step forward in shedding that image.


If there is a NO vote, and the PNG is not immediately disbanded, it would be a sad day for all collectors and HONEST dealers. A NO vote would prove out the PNG membership wants to hide and continue its corrupt and unethical ways while caring for its own. It would be a rare case where EVIL-true EVIL would win and say coin doctoring and cheating to get ahead is OK. I think it would be the beginning of the end of a positive rare coin market and the safety of third party grading.

At that point, we would need federal intervention in the hobby. It would be time for regulations for dealers and the grading services. These regulations would change the hobby as we know it, but for that to happen its proven we can’t police ourselves-which is pretty much a NO vote. There is NO excuse for the PNG to vote this down.


I really want to see the definition passed, I’d be shocked if they did not. Even if passed, I’d like the PNG to publicly name each member that voted NO and their reason. I can not see why an organization that claims it is dedicated to protecting its members and the hobby wouldn’t have a unanimous YES vote. So far, the PNG culture has denied from the reality of what some of its members unquestionably have done. A YES vote and enforcement is a HUGE step in making the PNG mean something.

There will be pain: there are an awful lot of doctored coins out there. I look forward to collectors and dealers finally being able to get justice for all the damage that has been done. I predict in 6 months to a year, the PNG WILL be swamped with complaints. I can’t wait until the criminals are clearly exposed. Hey, there has been a long time of avoiding this dreaded subject, now the PNG and its membership have to own up pay the price! The smart coin docs should QUIT the second this definition is adopted. Lets see how gutsy they are. I know I have a few coins I am looking forward to filing complaints on.

The PNG needed this wake up call. They are so out of touch overall. Even for the one day 3/4 empty bourse they hold prior to major shows (where you can’t breath without PNG permission) they use those childish Invitations because they think its exclusive. PLEASE! Walk into any PNG day, what do you see? Nothing that makes that organization look any good!

Good luck on this historic vote!


Legend Numismatics
Legend Numismatics
Since 1987, Legend Numismatics has built an unequaled reputation among collectors and investors alike by locating and procuring top-quality rare coins. Exceptional coins are always in demand - and we believe you should never settle for anything less than the highest quality coin at the best possible value.

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