Coin Dealers going for the gold

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The 2012 Coinage Magazine Special Issue titled: ‘Gold & Today’s Global Economy’ had numerous excellent articles as usual, but one article in particular caught my eye by author and long time numismatist, Ed Reiter.  The article was titled  “Coin Dealers going for the gold”  which was an expose on unscrupulous precious metal buyers. With permission of the author, Ed Reiter and Coinage Magazine, I have reprinted the concluding segment of the article.

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Transient gold buyers forced to shut down

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January 5, 2012

With permission from Jerry Jordan and The Examiner. Story copyrighted by 'The Examiner'

One of the largest transient gold buying operations in the country – THR & Associates – was forced to shut its doors late Thursday evening after Beaumont Police officers entered the temporary gold buying operation set-up at the Courtyard by Marriott near Washington Boulevard and informed them they were in violation of a number of state and local laws.

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Houston Coin Dealer Robbed of $500,000 in Hostage Situation

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Source: Coin Crimes - December 5, 2011


Two men attacked a family at a Fort Bend County home Thursday, investigators said.

Fort Bend County sheriff’s deputies said two masked men accosted the family as they returned to their home in the 10100 block of Hidden Lake Lane near FM 723 in the Richmond area about 7 p.m.

A man in the gold exchange business, his pregnant wife and two children were tied up and held at gunpoint, detectives said.

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Foundation Praises 11th Hour Medal of Honor Coins Purchase

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Source (PRWEB) November 15, 2011

The Congressional Medal of Honor Foundation is praising Michael Fuljenz, for helping to boost fund-raising sales of the United States Mint's Medal of Honor silver dollars.

With the United States Mint's mid-December sales cutoff deadline approaching, the President of the Congressional Medal of Honor Foundation ( is praising an 11th hour effort by a prominent Texas coin dealer to boost lower-than-anticipated sales of the commemorative 2011 Medal of Honor uncirculated silver dollars. By law, the South Carolina-based foundation receives a $10 surcharge for each coin sold, and sales of the uncirculated dollar coins have lagged behind the proof version by over two-to-one.

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Benefit of Collecting Coins Adds Up

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The Chicago Tribune

Imagine a hobby that enhances your appreciation of art, expands your knowledge of history, geography and politics, helps you gain and strengthen organizational skills and provides opportunities for socializing.

Would it be wise to embrace such a hobby as you head into your golden years? You bet your bottom silver dollar it would, say avid coin collectors.

Mike Fuljenz, a Beaumont, Texas coin dealer, reports that coins are like "history in your hands. Coins in ancient times were like a newspaper, telling about who was in power, and whether the ruler was peaceful or a warmonger based on the design symbolism. For example, arrows (on coins) indicated war, while olive branches were a sign of a desire for peace.

Original Article from the Chicago Tribune

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Vigilance vs. Vigilante Legislation: How staying alert in the state legislature averted potential company-killer legislation

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by Michael Fuljenz

Mike Fuljenz is a Board member of the Industry Council
for Tangible Assets and the Gold & Silver Political Action Committee.

If significant changes had not been made before the final vote, a new Texas law aimed at protecting consumers from some questionable, out-of-state "hotel gold buyers" probably also would have killed the legitimate business of many Texas numismatic companies. That legislation, HB2490, now has been signed into law by Texas Governor Rick Perry, but without the potentially devastating requirements for coin dealers and customers that earlier were contained in the bill.

The elimination of burdensome, ruinous language from the bill was the result of constant monitoring of proposed legislation that could affect numismatic transactions, one-on-one relationships with supportive legislators and the assistance of an experienced lobbyist. These actions averted the potential company-killer mandates while still protecting the public when they sell precious metals in Texas. It's a lesson in vigilance that every dealer in every state should learn.

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