David Hall claims Heritage owns 30% of NGC

Bill

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Jan 28, 2011, 11:59:59 AM1/28/11

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From the PCGS Mesaage board, by frounder David Hall

Thursday January 27, 2011 4:45 PM

I was reading Scott Travers' new book, The Coin Collectors Survival
Manual, 7th edition, and on page 147 it mentions the Jim Halperin and Steve
Ivy (the owners of Heritage) owned 24.254% of NGC as of 2005, but in recent
years have increased their ownership position to 30.3%.

I knew that Jim and Steve and/or Heritage owned about 30% of NGC, but
I just wondered if everybody else knew that. I'm not saying there's anything
wrong with that. In fact, coin dealers, including me, own shares of
Collectors Universe, the PCGS parent company. PCGS (Collectors Universe) is
a public company and anyone can buy the shares. So Heritage (or actually the
owners of Heritage) owning a huge stake in NGC is not neccessarily good or
bad. But I don't think everyone knows that the world's largest coin dealer
owns 30% of the a major grading service.

So there's the information. Make of it what you wish.

homerunhall

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Beanie

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Jan 28, 2011, 12:29:17 PM1/28/11

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It's certainly raises suspicion of possible collusion.

"Bill" <Bill...@aol.com> wrote in message
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Russ

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Jan 28, 2011, 2:21:13 PM1/28/11

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I can assure you that NGC and Heritage are not affiliated.

Beanie

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Jan 28, 2011, 2:46:58 PM1/28/11

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"Russ" <Russ...@aol.com> wrote in message
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>I can assure you that NGC and Heritage are not affiliated.

Well, NOW I can rest easy.

Ed. Stoebenau

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Jan 28, 2011, 8:30:04 PM1/28/11

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It seems like David Hall has learned how to use that innuendo
thing very well. Especially with the number of posts he got over
there. That place just gets more bizarre all the time.

--
Ed. Stoebenau
a #143

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Marty

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Jan 29, 2011, 6:48:13 PM1/29/11

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Hall acts like someone who how found out a secret and wanted everyone to
know about it . School yard whispers. Does he honestly think that a company
the size of Heritage would risk their business in trying to influence grades
from NGC for higher commission prices .

Because between the lines that what it sounds like to me

"Ed. Stoebenau" <rfgb...@tznvy.pbz> wrote in message
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Beanie

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Jan 29, 2011, 9:26:00 PM1/29/11

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"Marty" <Marty...@aol.com> wrote in message
news:ii28vp$6dq$1...@speranza.aioe.org...

> Hall acts like someone who how found out a secret and wanted everyone to know
> about it . School yard whispers. Does he honestly think that a company the
> size of Heritage would risk their business in trying to influence grades from
> NGC for higher commission prices .
>
> Because between the lines that what it sounds like to me

I don't know what Hall thinks but it occurs to me that any major shareholder in
a grading company that also sells coins would be sorely tempted to influence
grading where the difference between MS65 and MS66 can mean thousands of
dollars.
It certainly raises the appearance of impropriety to me and I'm not even a very
suspicious person.