Why was Jason Bradford suspended by PNG?
Tomthecoinguy
Posts: 849 ✭✭✭✭
I heard that Jason Bradford was suspended by the Professional Numismatic Guild.
Anyone know the specifics of why?
Is the PNG even relevant?
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There really was no information as to why in the news release put out by the PNG. And the full PNG Board has yet to vote on the matter. Probably better to wait for the full story to come out than to hazard a guess.
Doesn't seem right that they would tarnish someone's reputation and not have any info out about why. He was not suspended quietly, it was all over my news feed and a couple different numismatic publications had articles posted.
Has anyone had issues with Jason Bradford or his Legacy Currency grading, or maybe issues with the PCGS Currency change?
Seems if there where wide spread issues someone on the board would have started a thread to complain.
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The other forum has been filled to the brim with wide-spread issues about Bradford, Legacy and PCGS-C for months. I don't feel as though this article is coming out of the blue -- however, this board seems to be quieter in terms of complaints, and definitely seems to have less trolls.
I'm guessing the reasons for his suspension may remain internal to the PNG, as to not tarnish him -- but the fact that they released the article inherently tarnishes him, so it's unclear why they're letting the cat halfway out the bag.
Any resolution?
The board will probably meet and vote at the ANA in Chicago.
I cannot reach Jason or his staff by either email or cell phone. Are they out of business?
Were they really ever in business is the question.
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I always found PCGS-c strict and accurate in grading, I have no idea how the de-licensing is affecting the market; competition is healthy.
He is still a member of PCDA. That doesn't necessarily mean a lot, as they tend to circle the wagons when members are complained about.
competition is healthy
Ahem, with no PCGS C around, there’s PMG and PMG. And PMG membership through ANA or PMG membership directly. PCGS gold shield handled the situation very badly IMHO at the start and their graders’ knowledge and ability to grade was questionable at least. PCGS C bought ICG and thatcompany’s Spanish owner transformed it to PCGS C Europe.
But the situation now was different. The way I understand it, J.B. decided not to renew his contract - licensing agreement with PCGS, for his own reasons. He had already won the case in courts. This was not only unacceptable for Jaime (the director of PCGS Europe and ex ICG owner, nothing to do with the US coin grading company), but for Laura as well and for his loyal customers such as myself.
Do I intend to submit to Legacy ever? Very unlikely. Do I intend to cross grade my majority of notes that are in the green PCGS C holders? Still rather unlikely, I hope that they become collectibles one day like coins in the old green label holders of PCGS.
My last submission, was to add a few notes to a friend’s submission. 4 ex PCGS C notes graded 58 and resubmitted to PMG raw. Two came back as 65 epq, one in 64 epq and one in 58 as it were.
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Please review additional threads about Legacy here:
www.papermoneyforum.com
Jason now has a default judgement for contract fraud filed by Stacks Bowers. Details and complete court documents are shown for your review.
Jason has now been expelled from PCDA and is suspended at PNG
Wow!
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Dear Fellow Members,
We have received numerous complaints, both formal and informal, regarding PCDA member Jason Bradford. These complaints pertain to his handling of business matters, primarily concerning his failure to deliver notes submitted for certification back to the client in a reasonable and timely manner.
Following deliberations and due consideration, the PCDA Executive Board voted, and the membership approved as of July 2019, that member Jason Bradford be suspended from the organization for a period of 90 days. It was stated that if at any point in time during this period Mr. Bradford is found to be in violation of the terms set forth herein, the Executive Board shall convene to consider additional punitive measures, which may include expulsion from the organization.
Article III, Section I of our by-laws states: “Any member violating the by-laws of the Association, committing any unethical act in his (her) dealing with others, unjustly defaming the character of any other member, committing a criminal offense under the laws of any state or of the United States, or engaging in conduct prejudicial to the welfare of the Association shall be subject to expulsion or other disciplinary action as hereinafter provided.”
The Executive Board of our organization has considered this matter thoughtfully and thoroughly. We have held a vote to decide whether any further action needed to be taken against Mr. Bradford. It was determined that Mr. Bradford has not abided by the guidelines stated above and is subject to additional punitive measures. Furthermore, his conduct was determined to be prejudicial to the PCDA.
Therefore, the Executive Board of the Professional Currency Dealers Association has made the decision to expel Mr. Jason Bradford from the organization, effective October 15, 2019.
Respectfully submitted,
Sol Beatriz Sanchez
for the Board of Directors
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Law records are public records unless sealed by the court.
There’s more at the link by @flmason ‘s posted above, or: https://www.papermoneyforum.com/post/is-legacy-currency-grading-still-in-business-10275865?&trail=350
A judgement against a dealer for 250k, seems like a legit reason to suspend them from PNG or PCDA. It would be interesting to cross reference the list of PNG dealers with judgement of settled lawsuits, and see if they are consistent.
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The total judgement granted on all pages of the court order is over $600,000
I've been following this rather closely and here's the cliff notes version for those not wanting to wade through a bunch of legal jargon... He got a $150K advance from Stacks Bowers against future PCGS-C grading fees just before the PCGS-C name license was to expire and apparently neglected to mention that factoid to the Stacks/Bowers people. The lawsuit basically states S/B's claim that he took their $ in bad faith without informing them of the impending loss of the brand name. S/B sued both his company and him personally for fraud and won (including some punitives) by default because he apparently never bothered to show for the proceedings in California. That's essentially what the available court docs say.
Meanwhile, he's lost the PCGS-C license, started Legacy, gotten married after splitting with his former fiancé (and 50% PCGS-C shareholder), gotten booted from PNG and from PCDA, and has still been accepting people's notes and money despite a huge backlog going back in many cases over a year or more, back to the PCGS-C timeframe. No calls are apparently being returned, the legacy website goes back and forth from nonfunctional to functional, and the business itself moved from here in IL to Tennessee (although some angry submitters feel that their notes are still sitting in a safe in Peoria gathering dust). Their table at major shows is usually empty or has one lone person and a stack of blank submission forms. Meanwhile PMG is doing land office biz. It's fairly safe to say that more litigation will likely be forthcoming unless some notes and money get returned. I'd say stick a fork in Legacy. I'll be happy when CU relaunches the domestic PCGS Currency division.
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Whatever happened to Laura and Jason?
They divorced each other.
Wonder why. Good couple. Very knowledgeable, wealthy couple
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I agree that Laura and Jason worked well together…until they didn’t.
It’s my understanding is that they lost considerable time and money together before the collapse of their grading company while in China, trying to adopt a child.
I submitted several bulk groups for grading that took over 1 year to get back from PCGS-C and believe the original legal complaint is with strong merit.
On another occasion I was solicited by PCGS-C to sell my notes through them when I had expressed no desire to sell anything.
My experience is that PCGS-C grading seems to grade the front and back individually but relative registration is not a factor or requirement for 66PPQ and above.