About the PNG
The Importance of Working with a PNG Dealer
In Today's Rare Coin Market
The Professional Numismatists Guild--PNG--had its inception in 1950 with renowned coin dealer Abe Kosoff. As the rare coin hobby and industry started to expand rapidly in the decades following World War II, Kosoff and other dealers felt that the market would benefit greatly through the activities of an organized group of dealers and other numismatic professionals. The PNG was founded in 1955 through the efforts of Kosoff and others, and it continues to serve the rare coin industry as a not-for-profit organization promoting knowledge, integrity and responsibility among its dealer members.
Membership in the PNG, while it has grown considerably since Kosoff's day, is still limited to the finest numismatic professionals in the world. In order to obtain membership in this prestigious organization, a dealer must demonstrate experience in the rare coin market, have substantial financial resources and be elected by a majority of the current membership of the guild. Once membership in the guild is bestowed, a dealer is held to the highest standards of ethics and professionalism. The PNG is governed by a set of rules and regulations to which all members are bound, which include an arbitration process for settling differences between buyers and sellers of numismatic property. In other words, if disagreements arise during numismatic transactions with a PNG dealer, the PNG will act to make sure that the matter is resolved in a professional and competent manner. The actions of each of its members reflects not only upon the entire PNG, but the numismatic industry as a whole through the global network represented by the guild's membership.
PNG dealers gladly advertise their membership in the guild, such is the prestige that comes from such membership. Additionally, clients need to know that when they are dealing with a PNG member they can look forward to a relationship built upon honesty, integrity and professionalism, backed by the PNG rules and regulations. Steve Deeds is the President of Morgan Gold and holds membership #250 in the guild. A PNG member since 1975, Steve is committed to upholding not only the guild's code of ethics, but also his own personal standards for honesty and integrity through every encounter with the collecting and investing public. With the record-setting gold prices of the early 21st century, it should come as no surprise to learn that many new dealers and firms have entered the market in recent years with the aim of realizing quick profits. In such an environment, the importance and benefits of working with a long-standing PNG member are clear.