Professional Numismatists Guild (PNG)
The Professional Numismatists Guild was founded in 1955, due in no small measure to the vision of well-known coin dealer Abe Kosoff. Kosoff and several other coin dealers believed that the hobby of coin collecting would be better served if a professional group was organized. After much effort, the Professional Numismatists Guild was established. Its motto, “Knowledge, Integrity, Responsibility” continues to reflect the aims of our not-for-profit organization.
For the first decade of its existence, membership in the Professional Numismatists Guild was by invitation, and only a small number of dealers were asked to join. As time passed, the PNG gained stature, experience, and wisdom, and its membership rolls were expanded. Today, the PNG membership is comprised of many of the leading numismatists in the United States and around the world. The depth and breadth of the membership brings a rich diversity to the group and has made such progress possible.
Membership in the Professional Numismatists Guild is not for everyone. To join the PNG, a dealer must have experience in the field, must certify that he or she has significant financial worth, and must be elected by a majority of the present members. All PNG members are subject to the rules and regulations of the Guild, which include an arbitration procedure for resolving disputes between buyers and sellers of numismatic properties.
All prospective members consent to a criminal background check as part of the application process, along with PNG’s express requirements relating to age, net worth, and numismatic experience. PNG’s Executive Director is authorized to transmit to the membership, as well as members of the Board of Directors, any relevant information about applicants, including whether or not they have a criminal record. Even applicants who are approved by PNG’s membership must still be approved by the Board.
Any PNG member who is charged with a crime relating to numismatics, or any felony whatsoever, may be suspended by order of the Executive Director. The suspension must then be ratified by the Board at a hearing at which the suspended member has an opportunity to present objections. Suspension is not automatic, and both the Executive Director and the Board are entitled to take into account the nature of the offense, as well as how it reflects upon the member’s integrity and on the PNG.
In the past, only crimes relating to numismatics were grounds for suspension, but the PNG expanded the suspension power to all felonies of any kind. It has been the practice of PNG executive directors to suspend all members charged with felonies, pending Board ratification and/or resolution of the charges.
The Professional Numismatists Guild looks forward to many more years of enhancing the field of numismatics through adherence to strict ethical and professional standards, cooperative projects with the American Numismatic Association including the PNG Day prior to the World’s Fair of Money, educational efforts geared to hobbyists, and other programs to benefit what has rightfully been called the world’s greatest hobby.