National Collector's Mint: Difference between revisions
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{{Infobox_Company | |
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company_name = National Collector's Mint, Inc. | |
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company_logo = | |
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company_type = | |
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company_slogan = | |
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foundation = | |
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location = [[Port Chester, NY]]| |
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key_people = [[Avram C. Freedberg]] (Founder)<br>[[Barry Goldwater Jr.]] (Director; Spokesperson)| |
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num_employees = | |
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industry = [[Mint (coin)|Minting]] | |
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products = [[Non-circulating legal tender]] coins, tokens, replicas| |
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revenue = | |
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operating_income =| |
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net_income = | |
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homepage = [http://www.nationalcollectorsmint.com/ www.nationalcollectorsmint.com] |
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}} |
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'''National Collector's Mint, Inc.''' is a company based in [[New York]] that sells privately-produced coin, other coins and ancient coins, and creates solid bullion and bullion-clad coin, either as novelties or as legal tender coins in countries other than the United States. Such coins are commonly designated [[Commemorative coin|non-circulating legal tender]] (NCLT) issues. The company does not produce coin that are [[legal tender]] in the [[United States]], and is not affiliated with, endorsed, or licensed by the U.S. government or the [[United States Mint]]. |
'''National Collector's Mint, Inc.''' is a company based in [[New York]] that sells privately-produced coin, other coins and ancient coins, and creates solid bullion and bullion-clad coin, either as novelties or as legal tender coins in countries other than the United States. Such coins are commonly designated [[Commemorative coin|non-circulating legal tender]] (NCLT) issues. The company does not produce coin that are [[legal tender]] in the [[United States]], and is not affiliated with, endorsed, or licensed by the U.S. government or the [[United States Mint]]. |
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==Company History== |
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National Collector's Mint, Inc. is owned by [[Avram C. Freedberg]], who is also the owner of Maximum Entertainment Productions, LLC. The companies are located at 8 Slater Street, Port Chester NY 10573. [[Barry Goldwater Jr.]], former United States Congressman is a member of National Collector's Mint's board of directors, as indicated on his website under ''Corporate Affiliations''<ref>{{cite web |url=http://www.barrymgoldwaterjr.com/BMGcorporateaffiliations.htm |title=Barry M. Goldwater, Jr.: Corporate Affiliations |date=June 05, 2008}}</ref> and is a spokesman for the company.<ref>{{cite web |title=National Collectors Mint - About Us |accessdate=2007-03-15 |url=http://www.nationalcollectorsmint.com/aboutus.jsp}}</ref> |
National Collector's Mint, Inc. is owned by [[Avram C. Freedberg]], who is also the owner of Maximum Entertainment Productions, LLC. The companies are located at 8 Slater Street, Port Chester NY 10573. [[Barry Goldwater Jr.]], former United States Congressman is a member of National Collector's Mint's board of directors, as indicated on his website under ''Corporate Affiliations''<ref>{{cite web |url=http://www.barrymgoldwaterjr.com/BMGcorporateaffiliations.htm |title=Barry M. Goldwater, Jr.: Corporate Affiliations |date=June 05, 2008}}</ref> and is a spokesman for the company.<ref>{{cite web |title=National Collectors Mint - About Us |accessdate=2007-03-15 |url=http://www.nationalcollectorsmint.com/aboutus.jsp}}</ref> |
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National Collector's Mint's latest offering is a Liberian $20 pressed with .999 grade silver <!-- a wikilink to the silver grading scale would be helpful but I don't know where to find one on short notice --> for 20 [[USD]] (US dollars), claiming its supposed original price at $39. As their ad proclaims, the $20 piece is redeemable in the "coin of the realm" [Liberia], although fails to mention that 1 USD is 64 LRD (Liberian dollars)<!-- exchange rate on 19 Oct 2008 -->. They will sell customers up to a maximum of 5 of these pieces <!-- from the ad --> worth a total of $1.56 (USD) for $20 each + shipping and handling, yielding a [[markup (business)|markup]] of approximately 6400%. |
National Collector's Mint's latest offering is a Liberian $20 pressed with .999 grade silver <!-- a wikilink to the silver grading scale would be helpful but I don't know where to find one on short notice --> for 20 [[USD]] (US dollars), claiming its supposed original price at $39. As their ad proclaims, the $20 piece is redeemable in the "coin of the realm" [Liberia], although fails to mention that 1 USD is 64 LRD (Liberian dollars)<!-- exchange rate on 19 Oct 2008 -->. They will sell customers up to a maximum of 5 of these pieces <!-- from the ad --> worth a total of $1.56 (USD) for $20 each + shipping and handling, yielding a [[markup (business)|markup]] of approximately 6400%. |
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==See also== |
==See also== |
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* [[Franklin Mint]] |
* [[Franklin Mint]] |
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Revision as of 23:51, 4 January 2010
| Industry | Minting |
|---|---|
| Headquarters | Port Chester, NY |
Key people | Avram C. Freedberg (Founder) Barry Goldwater Jr. (Director; Spokesperson) |
| Products | Non-circulating legal tender coins, tokens, replicas |
| Website | www.nationalcollectorsmint.com |
National Collector's Mint, Inc. is a company based in New York that sells privately-produced coin, other coins and ancient coins, and creates solid bullion and bullion-clad coin, either as novelties or as legal tender coins in countries other than the United States. Such coins are commonly designated non-circulating legal tender (NCLT) issues. The company does not produce coin that are legal tender in the United States, and is not affiliated with, endorsed, or licensed by the U.S. government or the United States Mint.
Company History
National Collector's Mint, Inc. is owned by Avram C. Freedberg, who is also the owner of Maximum Entertainment Productions, LLC. The companies are located at 8 Slater Street, Port Chester NY 10573. Barry Goldwater Jr., former United States Congressman is a member of National Collector's Mint's board of directors, as indicated on his website under Corporate Affiliations[1] and is a spokesman for the company.[2]
The company has an unsatisfactory record with the Better Business Bureau, of which it is not a member. In 2008, 24 complaints were registered with the BBB in numerous areas of its business practices.[3] However, the BBB states most were closed with the customer receiving their requested resolution.
National Collector's Mint is a licensee for coin and coin-related products of the General Motors Corporation, Ford Motor Company, Chrysler Corporation, and The Ronald Reagan Presidential Library Foundation. By Federal law, the coins produced by National Collector's Mint, or any other private company, cannot be legal tender in the United States or its territories. The production of legal tender coinage in the United States falls to the United States Mint alone. It does, however, sell U.S. mint produced coins, and other foreign issued and ancient coins along with its own manufactured commemoratives. This has caused confusion in the past because some of the company's advertisements, and the tribute coins themselves which were often designed to mimic official U.S. coins, gave the impression that the company was producing legal tender issues.
Sales of the Freedom Tower Silver Dollar coins were halted by a court order in October 2004 at the request then New York Attorney General Eliot Spitzer.[4] The company received approval from the officials of the Commonwealth of the Northern Mariana Islands to produce legal tender coinage on their behalf.[5] Spitzer noted that the Commonwealth is not authorized to issue its own currency. It was also indicated that the exact amount of silver contained in the commemorative was not clear to customers. A judge ruled in 2004 that the company was guilty of fraud, false advertising and deceptive business.[6] Current ads for the new Freedom Tower coins indicate the actual silver weight (45 mg, or 0.00145 troy oz.) rather than the thickness of silver in mils used.
Freedom Tower coins were plated using silver collected from the destroyed World Trade Center after the September 11, 2001 attacks. The Bank of Nova Scotia had silver and gold bullion stored underneath the World Trade Center at the time of the September 11, 2001 attacks.[7] This gold and silver was later sold to individuals and companies.
National Collector's Mint website claims their customers have donated over $1,900,000 to charities, including Official September 11 charities[8], and associates these donations with NCM corporate giving, though it is not stated whether any significant amount was actually contributed by National Collectors Mint or its owner. It is also not stated what role NCM played in soliciting these charitable donations from their customers. In one instance a donation from the company was refused.[9]
National Collector's Mint's latest offering is a Liberian $20 pressed with .999 grade silver for 20 USD (US dollars), claiming its supposed original price at $39. As their ad proclaims, the $20 piece is redeemable in the "coin of the realm" [Liberia], although fails to mention that 1 USD is 64 LRD (Liberian dollars). They will sell customers up to a maximum of 5 of these pieces worth a total of $1.56 (USD) for $20 each + shipping and handling, yielding a markup of approximately 6400%.
See also
External links
- National Collector's Mint (Javascript must be enabled)
- U.S. Congressman Barry Goldwater, Jr.[1]
- Corporate Affiliations of Barry Goldwater, Jr.[2]
- Commonwealth of the Northern Mariana Islands authorization [3]
![[3]](http://ncmint.com/images/email/SCAN0002.JPG){kind=link}
References
- ^ "Barry M. Goldwater, Jr.: Corporate Affiliations". June 05, 2008.
{{cite web}}: Check date values in:|date=(help) - ^ "National Collectors Mint - About Us". Retrieved 2007-03-15.
- ^ "New York BBB Reliability Report for National Collector's Mint". 2008-12-13. Retrieved 2008-12-13.
- ^ "Court Order Halts Sales of "Freedom Tower Silver Dollars"". New York Department of Law. October 13, 2004. Retrieved 2006-12-29.
- ^ "Letter from the Governor of NMI". November 8, 2003.
- ^ Medina, Jennifer (October 14, 2004). "Judge Rules 9/11 Coin Ads Were Deceptive". The New York Times. Retrieved 2006-12-29.
- ^ "World Trade Center Gold Relocated And Eligible For Delivery Against NYMEX Contracts".
- ^ "National Collectors Mint - Corporate donations". Retrieved 2008-02-12.
- ^ Seifman, David (February 5, 2007). "30G WTC Donation Nixed". The New York Post. Retrieved 2007-07-11.