A History Of Coin Dealers - NORTHWEST COIN CLUB

Transcription

A History of Coin Dealers in the Twin Cities AreaTwo sides of the Con/CoinA Work-in-Progress 4-11-2016Pete Smith, NWCC HistorianAs a young adult living in the Twin Cities, I knew of four significant coin dealerships inthe area, Continental Coin Galleries, International Coin Inc., National Coin Studio, andNorthwest Territories Gold & Silver Exchange. All came to a bad end. Interesting that many ofthe players are still active in the business in 2016. This is my attempt to record some of thehistory of local coin dealers while these dealers can still share their memories.Listing by IndividualAaker, SteveOwner of Steve Aaker Numismatics (1979-1989).Senior buyer with Calstar (1989-1992).Numismatic Product Manager at the Franklin Mint (1993-2001).Affiliated with Numismart Numismatic Service in Pennsylvania (2001-2016).Aamoth, CliffordVice President of National Coin Studios Inc. (1969)Adams, JohnnieWayzata, MNAdkins, Gary (Active in 2016)Brother of Tony AdkinsHe conducted three auctions in Michigan in 1980-81.Affiliated with Minneapolis Gold & Silver and NumismaticServices, Inc.Affiliated with Numismatic Services, Inc.CEO of Adkins and Associates, Inc. (2004-2016)PNG member after 1985.Registered Bullion Coin Dealer Representative 2016.Photo of Gary Adkins about 2010 .Adkins, Tony B. (Active in 2016)Brother of Gary AdkinsAffiliated with Minneapolis Gold & Silver and NumismaticServices, Inc.Affiliated with Numismatic Services, Inc.Affiliated with American Rare Coins & Collectibles. (2016)PNG Affiliate Member after 2014.Registered Bullion Coin Dealer Representative 20161

Allen, Gregory David (Active in 2016)Manager of Greg Allen Coins, LLC. (2007-2016)Registered Bullion Coin Dealer Representative 2016Anderson, Jay B.Father of Jill Anderson Langer. He died on November 2, 2014 at age 75.President of Northwest Territories Gold and Silver Exchange (1980, NL 1990)Affiliated with Anderson Eagle Trading. L.L.C.Anderson, Theodore R.CEO of Midas Resources, Inc. (1996-2016). His Bullion Coin Dealer license wasterminated on 11-3-2015 following complaints.Owner of Genesis Communications Network, a radio network. Their website states,“Through the years GCN has established itself as the largest independently owned and operatedtalk radio network in the country.In 2011, Anderson was charged with 14 violations of building codes related to a houseconverted for his business at 3105 Sibley Memorial Highway.Arra, Robert D.Affiliated with RDA Collectibles.Austinson, JohnAffiliated with Har-Mar Coins.Balsimo, MeadeBorn on May 26, 1928, and died on April 26, 1990.Father of Gloria M. Balsimo of Gloria’s Jewelry.Barrett, SteveAffiliated with Maplewood Coin.Beam, DouglasAffiliated with AAA Jewelry Coin & Collectibles LLC.Registered Bullion Coin Dealer Representative 2016.Beam, Ryan johnAffiliated with AAA Jewelry Coin & Collectibles LLC.Beasy, Joseph “Joe”Partner in The Gold Guys.Registered Bullion Coin Dealer Representative 2014-16.Beauchane, RonaldSecretary of National Coin Studio Inc. (1969, NL 1990)2

Becken, Carl M. (1897-1967)One of the founding members of the Northwest Coin Club in 1934.Historian for the Northwest Coin Club 1934 to 1938.Affiliated with Becken Stamp and Coin Shop (1936-1960)Blodgett, Michael W.CEO of T. G. Morgan, Inc. (1985-2016)President of T. G. Morgan, Inc. (1990).In August 1984 was accused of “four felony charges described as theft by swindle of 2,500.” He pleaded guilty to a lesser charge.In 1993 he was sentenced to six-and-a-half years in prison.Boike, JulieAffiliated with Northeast Gold & Silver Exchange, Inc.Booker, Louis “Finch”Affiliated with MidcoMoved to CaliforniaBoughton, DavidOwner of David Boughton Rare Coins LLC (2010- )Bourne, MarleneDaughter of Remy Bourne, sister of Michael BourneAffiliated with Michael & Marlene Bourne (1981), a dealership in numismatic literature.Bourne, MichaelSon of Remy Bourne, brother of Marlene BourneAffiliated with Michael & Marlene Bourne (1981), a dealership in numismatic literature.In 2016 he is a podiatrist working in the Stillwater area.Bourne, RemyFather of Marlene and Michael BourneAdvertiser in The Numismatist 1988.Operated a dealership in numismatic literature in Columbia Heights.He served on the ANA Board of Governors.In 2016 he is retired and has travelled to more than 100 countries.Bradley, J. V.Owner of hobby-supplies,comBruyer, Nicholas J.Owner of Asset Marketing Services, Inc.Cardinal, StephenAffiliated with Collect Source of Minnesota.3

Registered Bullion Coin Dealer Representative 2016Carlson, Jerald AllenOwner of New Hope Quality Coins LLC. (2011- )Registered Bullion Coin Dealer Representative 2016.Carter, Larry M.CEO of Crystal Coin and Collectibles, Inc. (1989-2013)Manager of Crystal Coin and Collectibles LLC (2013-2016).Carter, MikeAuction cataloguer with Superior Stamp & Coin Co (1980-85).Partner in Advance Coin and Stamp Co. (1985-87).Affiliated with International Coin Investments (1987-88).President of Crystal Coin & Collectibles (1988-2016).Affiliated with The Fountain Pen Recycler.Author of 1921 Morgan Dollars: An In-Depth Study (1987).Photo of Mike Carter from The Numismatist in 1968 .Clay, IanCEO of with Westminster Mint, Inc. (2001-2016)Registered Bullion Coin Dealer Representative 2014.Contursi, JimSon of Steve ContursiContursi, StevenVice President of Northwest Territories Gold and SilverExchange (1980)Affiliated with Miller-ContursiAffiliated with James U. Blanchard and CompanyAffiliated with Monaco FinancialAffiliated with Monex rare CoinsOwner and CEO of Rare Coin Wholesalers after January 2001.Photo of Steven Contursi .Cook, JamesFounder of Investment Rarities, Inc. in 1974.Photo of James Cook .4

Cook, Trevor G.Salesman with Investment Rarities, Inc.Affiliated with PFG Coin and Bullion.Photo of Trevor Cook .After leaving the coin business he organized UniversalBrokerage Services for a Ponzi scheme to market foreign currencies.They defrauded more than a thousand investors out of at least 190million, called the second largest Ponzi scheme in Minnesota history.Cook claimed that he was dealing with banks under Islamic law,or sharia, which bars interest charges. The scheme was promoted on Pat Kiley’s radio program,“Follow the Money.”Cook and partners bought the historic Van Dusen mansion at 1900 Lasalle Avenue southof I-94 and downtown Minneapolis. According to court testimony, workers at the companyfrequently drank and smoked pot while at the office. Occasionally prostitutes were brought in forstaff parties.Cook was sentenced to 25 years in federal prison.Coyle, Charles R.Affiliated with Numismatic BureauCEO of Make and Offer Now, Incorporated (2006-2016)Owner of Coins Rocks Gems Inc (2011- )Damiani, Joseph RichardAffiliated with J. R. Damiani (2014).Darby, Jay R.Affiliated with Viking International Coin Company (1976-1979)Affiliated with AzTec Coin Company in Flagstaff, Arizona (1985-1989)Affiliated with Jay R. Darby, Inc.Derezinski, AndrzejSalesman with Northwest Territories, Inc. between February and June 1986.CEO of Precious Metals Sales & Marketing, Inc. (1988-1994)Derezinski was charged in 1986 and convicted of assisting a drug dealer, Peter Meile, topurchase coins with cash to avoid reporting requirements.DeWitt, BillAffiliated with The Coin Box.Diker, Bruce AlanAffiliated with Guidance Corporation.Registered Bullion Coin Dealer Representative 2016.Dickison, Craig5

44 North Oaks RoadSt. Paul, MN 55127A big sports card dealer.Diracles, James C.Diracles is an attorney with Best & Flanagan in Minneapolis.Affiliated with Renaissance Coin Company.Domnitz, Justin LuisManager of Presidential Precious Metals LLC (2013-2016)Bullion Coin Dealer license expired 6-30-2015.Downing, Alan P.CEO of Double Eagle Coin and Bullion, Inc.Doyle, Donald W.He died on September 16, 2010, at age 70.Affiliated with Doyle Numismatic Services.He frequently shared a bourse table with Kenn Hollister.Duda, JayDurand, GeraldSales manager at Investment Rarities, Inc.Ferm, John (Active in 2016)Affiliated with John Ferm Rare Coins.Affiliated with Estate Buyer Group.Fischer, Michael A.Affiliated with M & M Collectibles.Fitzpatrick, Michael KevinAffiliated with Investment Rarities Group circa 1993. Fitzgerald’s legal problems werenot involved with the coin business.Fitzpatrick attended the United Nations International School in Manhattan. It was therethat he first met Qubilah Shabazz, the daughter of Malcolm-X.At age 18 he was convicted in the bombing of a Manhattan bookstore and became aninformant in the planned bombing of the Egyptian tourism office. He entered the federal witnessprotection program and moved to Minneapolis under the name Michael Summers. He assistedthe FBI with a number of cases against militant groups.In 1993 he was arrested for cocaine possession in the apartment of his employer, HarlanRosenfeld (1963-2000), founder of International Rarities Group.6

It was alleged that Qubilah Shabazz attempted to hire Fitzpatrick to kill Louis Farrakhan.Fitzpatrick taped their phone conversations and provided the tapes to the FBI. The defenseclaimed entrapment.The 1995 case against Shabazz was presided over by U. S. Magistrate Franklin Noel.Shabazz entered a guilty plea, was ordered to undergo psychological counseling and treatmentfor drug and alcohol abuse.Qubilah’s son Malcolm went to live with his grandmother in Yonkers. On June 1, 1997,when he was 12, he set fire to his grandmother’s apartment. She died from burns three weekslater. Malcolm died of a beating in Mexico City on May 9, 2013, at age 28.Fleeson, Breck ReidelOwner of Carson City Coin Co. d/b/a/ Park Coin (1983- ).Registered Bullion Coin Dealer Representative 2016.Flynn, Jay PhillipCousin of Jamie Lee Smith.Salesman with Crescent Equities.His criminal record included armed robbery, check forgery, domestic assault, drugpossession and drug trafficking.In 2015 he was sentenced to 52 months in prison. He was ordered to pay 324,949 inrestitution and 200,000 in back child support.Fons, Michael M.7595 Currell Boulevard #251264Woodbury, MN 55125Registered Bullion Coin Dealer (2014-2016).Froseth, KentAffiliated with Numisco Sales Company (1974).Partner in Continental Coin Galleries 1974-76.President and Vice President of Continental Financial Corporation. A suit was filed in1975 against the firm claiming that they sold future silver contracts as an investment security.CEO of K. M. Froseth, Inc. (1977-2016).PNG member after 1988.Bullion Coin Dealer license expired 6-30-2015.Gale, AnthonyChief Financial officer with New York Mint.On March 26, 2010, at three in the morning, Gale was assaulted on the street indowntown Minneapolis. His head struck the concrete and he diedtwelve days later.Gale, WilliamAffiliated with New York Mint.Affiliated with Asset Marketing Services, LLC.7

PNG member after 2014.Registered Bullion Coin Dealer Representative 2016.Photo of William Gale .Golden, DanaOwner of Golden Coin Company.Registered Bullion Coin Dealer Representative 2016.Grady, Tiffany NorwoodAffiliated with Stella Group.In 2015 she was charged with wire fraud for taking payment for orders but not providingthe coins.Grinolds, Dick (Active in 2016)General chairman for the Northwest Coin Club show 1984-90.Show chairman for the Central States Numismatic Society show in Minneapolis in 1985.President of the Northwest Coin Club 1979-86.Affiliated with Dick Grinolds Exonumia and Dick Grinolds Americana.A sole proprietor specializing in exonumia.Grosz, Paul H.Owner of Blue Eagle Collectibles.Affiliated with Diversified Numismatics.CEO of Premier Precious Metals, Inc. (1989-1996).Bullion Coin Dealer license expired 6-30-2015.Gundy, Robert EarlAffiliated with International Rarities (1988).Affiliated with Midas Resources.Affiliated with PFG Coin and Bullion.Affiliated with American International Gold & Silver Exchange.Affiliated with S & F Commodities.Affiliated with Crescent Equities.He was fined 295,000 and required to pay back customers more than 409,000.Hage, Scott AllenCEO of with Midwest Bullion Exchange, Inc. (2009-2016).Registered Bullion Coin Dealer Representative 2016.Hanisco, Raymond F.He died on January 11, 2014, at age 63. He was a Vietnam War veteran and wrote twobook including A Veteran’s Anthology. He also wrote articles under the name, “The Coin Guy.”Owner of Guardian Gold & Silver Exchange. Hanisco and Schaun Waste were chargedwith consumer fraud for not paying for coins purchased or not delivering coins sold.Harper, Douglas Montgomery, Sr.8

He was born on February 12, 1944, and died on March 1, 2010.Owner of Abe Lincoln Coin House (1990-2000).Harper, MarkAffiliated with Lost Coin Productions Inc. (2009).Hastings, Stephen J.CEO of Fidelity Gold & Silver Inc.Hedlund, Nick CharlesAffiliated with Gold & Check LLC.Heinrich, WilliamAffiliated with Bilinda Coins.Dissapeared.Heller, Dennis (1946-2015)Dennis was born on September 29, 1946, and died in 2015. He had two daughters and ason.Treasurer of National Coin Studio (1969).Affiliated with Northern Plains Rare Coins and Precious Metals, Inc.President of International Coin, Inc. (1979).Helmer, Dennis CharlesBorn on February 3, 1961.Affiliated with National Rarities, Inc. When he left the firm he kept the companies list ofthousands of names of established customers. He used the list to establish his own business andsold the list to others.Affiliated with Wholesale Assets Wordwide.Affiliated with Best Price Coins Inc. (2004-2008)In 2014, he was charged with mail fraud by federal authorities and pleaded guilty. Hewas sentenced to 150 months in prison.Herrick, GregAffiliated with Sky Media LLC.Herzenach, Brian PaulAffiliated with St. Paul Gold & Silver Exchange LLC.Registered Bullion Coin Dealer Representative 2016Himmelwright, BillOwner of Premium Quality Coins a/k/a/PQ Coins.Photo of Bill Himmelwright .Hoff, Bill9

Sixth and EarlVictim of RobberyHollinbeck, R. O. (Richard Oftebro)Born March 25, 1910 and died August 28, 1998.Affiliated with Hollinbeck Enterprises.Hollister, KennPresident of the Northwest Coin Club 1990-91.Affiliated with Moneta, a dealer in ancient coins.He moved to Arizona and stopped attending local shows.Hughes, Tory EvanAffiliated with Reputable Rare Coins (2009-2010) in Roseville.A 2011 article in the Star Tribune reported, “Hughes has a criminal record that includesconvictions for burglary, forgery, cocaine possession and receipt of stolen property.”In 2011, Minnesota Attorney General Lori Swanson filed suit claiming the companyengaged in deceptive trade practices.In 2014, he was charged with mail fraud and wire fraud by federal authorities. It wasalleged that he stole more than 700,000 from customers to pay personal expenses and supporthis gambling habit. He pleaded guilty on October 8, 2014. In 2015 he was sentenced to five yearsand eleven months in prison and ordered to pay 750,000 in restitution.Affiliated with U. S. Collectibles in Gilbert, Arizona (2013-2014). He was alsoinvestigated for defrauding victims from his business in Gilbert, Arizona.Hirtzinger, Karl D.Manager, Rare Coin Auction Department, ParamountCoin Corporation (1975-1980)President, National Numismatic and Philatelic (19801983).Managing Director of Auctions by Bowers and Merena(1983-1986).Director of Auctions, Kagin’s Numismatic Auctions(1986).Affiliated with Tom Noe.Photo or Karl Hirtzinger from The Numismatist in1984 .“Indian Joe”Huber, Bill (1969)200 Baker BuildingMinneapolis, MN 55402Jeddeloh, MaryAffiliated with Bullion Traders, Inc.10

Johnson, A. G.CEO of A. G. Johnson Rare Coins, Inc. (1986-2000)Johnson, Craig (Active in 2016)Affiliated with Valley CoinsKagin, Arthur MeyerBorn November 25, 1919 and died July 18, 2005.With R. O. Hollinbeck Stamp & Coin in 1933 at age 13.He left Minneapolis to open a shop in Des Moines in 1936and went on to become a nationally prominent dealer and auctionhouse.Photo of Art Kagin prior to 2005 .Kalata, Bruce E.Founder and CEO of Seven Star Enterprises International,LLC (2003-2013).Manager of SSEI Worldwide Investments, LLC. (2013-2016)Registered Bullion Coin Dealer 2014-16.Kellerman, BillAffiliated with Bel-Aire Coin.Kennedy, JoelAffiliated with Alger International.Kihlstadius, DanAffiliated with American Rare Coins and Collectibles.CEO of The Coin Market, Inc. (1990-2016).Klevens, MartinSalesman for International Rarities Corp.In 1997 he was sentenced to 25 months in prison for defrauding four coin buyers out of 160,000. He violated terms of his release and went back to prison for 10 months.Klugman, IreneA diminutive part-time coin show dealer.Kuether, Edwin T. (Active in 2016)Proprietor of Ed’s Coin Den in Austin, Minnesota (1972-1990)Affiliated with Grove Coins in Woodbury, MN.From 2012 to 2014 he operated a satellite office of Grove Coins in Maple Grove, MN.Bullion Coin Dealer Representative license expired 6-30-2015.Lacina, David11

Affiliated with Great Lakes Coin & Collectibles.Lanz, DelHe promotes a monthly show in Bloomington.Law, Douglas J.CEO of Coins Stamps and Sports Cards Inc. (1989-2014).Lawton, M. E.1610 Stevens AvenueMinneapolis 4, Minn.Advertiser in The Numismatist in 1945.Lewensten, CharlesAffiliated with Twin Cities Gold & Silver.CEO of C W L Investments, Inc. (1999-2016).Bullion Coin Dealer Representative, expired 6/30/2015.Lindvall, DavidSales Manager for International Coin.Affiliated with Littleton Coin Company.Luke, Terry J.4109 Windridge CircleMinnetonka, MN 55305Registered Bullion Coin Dealer Representative 2016.Maguire, Shane AnthonyPartner in The Gold Guys.Marcks, ScottAffiliated with C. Craft USA.Marion, David LaurenceFounder of International Rarities Corp., after acquiring International Rarities Group in2000. In 2012 he was charged with defrauding clients out of 2.7 million. In 2013 he pleadedguilty to devising and executing a scheme to defraud clients. He was sentenced to 60 months inprison.Marston, Otto E.320 Third Avenue SouthSouth St. Paul, Minn.Advertiser in The Numismatist in 1937.12

Martinson, Richard V. “Dick”Majority shareholder of Continental Financial Corporation.Director of Numisco Sales, Inc.Affiliated with Continental Coin Galleries, Inc.Mauer, Mark WilliamAffiliated with Classic Coin Cellars Inc.Registered Bullion Coin Dealer Representative since 2014.McCraken, ArtAffiliated with a shop in the Andrews Hotel.Melamed, LouisSon of “Mort” Melamed, brother of Richard.He worked for his father part time at Hobby Sales.Affiliated with Colorado Numismatic Rarities (2008-2009).Affiliated with Spectrum Group / Stack’s Bowers (2010-2014).Director of marketing and sales with Kevin Lipton Rare Coins (2014-2016).Melamed, Maurice, “Mort”Father of Richard, Harold and Louis MelamedCoin dealer after 1962.Affiliated with Hobby Sales.Promoter of the Winter Carnival show.Collector of Minnesota National Bank Notes.Melamed died on March 20, 1987 at age 56.Melamed, Richard GordonSon of “Mort” Melamed, brother of Louis.Coin grader with P.C.G.S.Affiliated with Colorado Numismatic Rarities (2008-2009)Senior Numismatist for Spectrum Numismatics International, Inc.In 1993 Melamed paid a fine of 10,000 to the Federal TradeCommission to avoid prosecution in a case involving William J. Ulrich.Photo of Richard Melamed.Meyer, Byron (Active in 2016)He hosts a monthly coin show at the South St. Paul VFW hall.Meyer, Jim (Active in 2016)Affiliated with Great lakes Coin and collectibles.President of M.O.O.N.Registered Bullion Coin Dealer Representative 2016.Miels, ThomasCEO of Twin City Stamp & Coin Inc.13

Mishra, Jagriti AbhayManager of with Gold Money Express LLC. (2012-2016).Registered Bullion Coin Dealer Representative 2016.Monson, MarkAffiliated with RCD – Blue Eagle Collectibles, LLC. (2010-2015).Affiliated with Rare Coin Depository (2001).Mourning, DanaMowrey, Thomas E.President of the Northwest Coin Club 1955-57.Munger, Jeff, Jr.Affiliated with National Coin.In 2007 he was expelled from the ANA for failure to respond to complaints.Munger, Jeff, Sr.President of National Coin St

Salesman with Investment Rarities, Inc. Affiliated with PFG Coin and Bullion. Photo of Trevor Cook . After leaving the coin business he organized Universal Brokerage Services for a Ponzi scheme to market foreign currencies. They defr