James L. Halperin: Difference between revisions

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James L. Halperin (born October 31, 1952 in Boston, Massachusetts) is an American author and businessman. Halperin authored a groundbreaking text on grading coins, How to Grade U.S. Coins, upon which the grading standards of the two leading third-party grading services PCGS and NGC were ultimately based. He also authored two futurist fiction books, The Truth Machine (1996) and The First Immortal (1997), both international science fiction bestsellers that were also optioned as films. The Truth Machine is currently under development as a major motion picture at Lion's Gate.

Halperin attended Middlesex School in Concord, Massachusetts, then attended Harvard University between 1970-1971 where he majored in psychology and later philosophy. After three semesters, Halperin took a permanent leave of absence to pursue his numismatic career. In 1976 he established the first and most successful rare coin fund for investors, New England Rare Coin Fund (NERCF). Upon liquidation at auction in April 1980, each investor in NERCF received 460% of their initial investment, after all commissions and fees.

In 1982, he sold his coin company to a former employee, entered into a 50/50 business partnership with renowned numismatist Steve Ivy and settled in Dallas, Texas. Halperin and Ivy still co-direct Heritage Auction Galleries, of Dallas, Texas, now the world's largest rare coin company and America's third largest auction firm.

Halperin also endows a health education foundation which supports several charities.

He has been married to his wife Gayle since 1984 and they have two sons, David (born 1991) and Michael (born 1995).

References

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 Halperin attended [[Middlesex School]] in [[Concord, Massachusetts]], then attended [[Harvard University]] between 1970-1971 where he majored in psychology and later philosophy.  After three semesters, Halperin took a permanent leave of absence to pursue his [[numismatics|numismatic]] career. In 1976 he established the first and most successful rare coin fund for investors, New England Rare Coin Fund (NERCF). Upon liquidation at auction in April 1980, each investor in NERCF received 460% of their initial investment, after all commissions and fees.
-A 2004 Forbes article describes Halperin as "probably the most controversial professional numismatist of all time. He has had brushes with postal inspectors, the Federal Trade Commission and coin dealers who have sued him for, among other things, sticking them with inflated prices."
 In 1982, he sold his coin company to a former employee, entered into a 50/50 business partnership with renowned numismatist Steve Ivy and settled in [[Dallas, Texas]]. Halperin and Ivy still co-direct [[Heritage Auction Galleries]], of Dallas, Texas, now the world's largest rare [[coin]] company and America's third largest [[auction]] firm.
-However the the 2004 Forbes article noted that the firm sold in 1982 went bankrupt five years later after FTC charges of fraud, after Halperin collected "$1 million or so in consulting fees while the dirty dealing was taking place." Even though Halperin had to return some of the money, he claims he wasn't involved in any bad dealings and payments he received were part of the terms of the sale.
-Forbes' Christopher Helman reported that Halperin's next misadventure involved the launch of a coin grading agency, Numismatic Certification Institute, in 1984. It went out of business, after the FTC discovered the company was giving inflated grades to coins and marketing them through a Heritage-backed organization called Certified Rare Coin Galleries. They used television ads to draw in victims, then sold high-grade silver and gold U.S. coins for more than twice what they would have fetched in traditional retail channels. In 1989 Heritage agreed to pay $1.2 million in restitution. The FTC also insisted that the company include a document with every NCI-assessed coin stating that it had not been graded according to normal standards. Halperin closed down NCI, but claims most of the grades he gave then would not change if they were re-graded today.
-Under Halperin's direction, Heritage Auctions is expanding into new areas, including fine art, decorative art, rare books and manuscripts, and entertainment memorabilia.
 Halperin also endows a health education foundation which supports several charities.
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 * [http://www.firstimmortal.com/?wikipedia-halperinfi-040207 The First Immortal]: free download
 * [http://www.coingrading.com/?wikipedia-halperingrade-040207 How to Grade U.S. Coins]
-* [http://www.forbes.com/forbes/2004/1227/156_print.html Top Drawer]
 [[Category:1952 births|Halperin, James L.]]