Coin Clubs members were altering coins ?

[jeff of pa]

Coin Club's members were altering coins ?

The Greater Ocala Coin Club's future is in peril following allegations by one of its former officers that members were altering coins that they later misrepresented to unsuspecting buyers.



The club's former secretary, Larry Faw, who was also the club's registered agent with the Florida Department of State, Division of Corporations, is asking the state to dissolve the organization.


Faw said that many of the organization's nearly 200 members were cleaning silver coins but selling them to inexperienced collectors as mint or uncirculated currency.

http://www.ocala.com/article/20100526/ARTICLES/5261007/1001/NEWS01?p=1&tc=pg&tc=ar

 

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[EDDE]

Re: Coin Club's members were altering coins ?

*audible gasp*

 

[ivan salis]

Re: Coin Club's members were altering coins ?

for shame

 

[BIG61AL]

Re: Coin Club's members were altering coins ?

Wow - what a boneheaded idea! In some states theft of as little as $200 is considered a felony......no thank you.
you would think a coin club would have a smidgen of brains and morals but apparently not.

 

[Jessica]

Re: Coin Club's members were altering coins ?

*sigh* And you would think 200 members would really do that? Come on now! The banner is a trashy paper. Who didn't even come close to the truth. It's the inexperienced people who tend to clean coins.

Are you going to tell me that every coin in a $4 face bag of wheat pennies was cleaned? What about the slabbed coins by PCGS & NGC in the auctions?

I just think it's funny that the officer had been a member of the club for several years and it's the club who is pressing charges against the officer. Yeah he stole several grand from the club. He also was in charge of making sure that the licenses were paid & up to date.

 

[allen]

Re: Coin Club's members were altering coins ?

talk about giving clubs a big black eye !!!