Professional Numismatists Guild History
The Professional Numismatists Guild (PNG), founded in 1955, had its inception in 1950 with Abe Kosoff. At the time, Kosoff was in partnership with Abner Kreisberg in Numismatic Gallery, a firm that was well known for handling major collections and rarities.
Kosoff and several other coin dealers believed that the hobby of coin collecting could 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 the not-for-profit organization.
For the first decade, 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 achieved stature, experience, and wisdom, and the membership rolls were expanded.
Today, the PNG comprises a membership across the United States and abroad of virtually all leading professional numismatists. The depth and breadth of the membership brings a rich diversity to the group and has made its progress possible.
Membership In The Guild
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 the PNG members are subject to the rules and regulations of the Guild, which include an arbitration procedure for resolving disagreements between buyers and sellers of numismatic properties.
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, educational efforts geared to hobbyists, and other programs to benefit what has rightfully been called the world’s greatest hobby.
Prospective members consent to a criminal background check as part of the application process, in addition to PNG’s express requirements relating to age, net worth, and numismatic experience. PNG’s Executive Director is authorized to transmit to PNG’s membership, as well as members of the PNG’s Board of Directors, any relevant information regarding 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.
Once admitted to PNG membership, a 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 PNG’s. In the past, only crimes relating to numismatics were grounds for suspension, but 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.