ACG Document #4- A must read for everyone

K6AZ · March 23, 2003 11:40AM

This document relates to how ACG coins were sold prior to Yahoo and eBay.
ACG employed telemarketers, primarily targeting elderly widows.

This letter is very sad, and I hope that the certain ACG apologists who
constantly rail on me about how much I hate ACG take a good look at this.
This is the reason I am so anti-ACG. I have known for some time about this
particular case, as well as others. And it goes on all the time now that
they use eBay and Yahoo to pawn their crap.

Hey Al and Diane, how do you sleep at night knowing you are part and parcel
to this?

Donnan Statement

goose3 · March 23, 2003 11:42AM

That's bad,,,,,,,,real bad.

Russ · March 23, 2003 11:42AM

Oh my God! I had no idea it was this bad. Why the hell aren't these scumbags in jail?

Russ, NCNE

Wingsrule · March 23, 2003 11:45AM

Makes the few coins I bought before I knew better look like chump change.

Hey Al and Diane, how do you sleep at night knowing you are part and parcel

No shlt.

K6AZ · March 23, 2003 11:46AM

<< <i>Oh my God! I had no idea it was this bad. Why the hell aren't these scumbags in jail?

Russ, NCNE >>

They have managed to stay in the grey area for a long time. Their time is coming, trust me. I also have images of most of these coins, I probably won't get to them until tomorrow.

dpoole · March 23, 2003 11:55AM

Keep up the good work, K6AZ. They're cracking open now, and hopefully will crumble.

ccr · March 23, 2003 11:55AM

I always considered the worst and most cowardly crimes are commited against children and the elderly. Hearing and reading these kind of things make my blood boil.

kranky · March 23, 2003 11:56AM

They not only graded the coins, but were peddling them too?

littlewicher · March 23, 2003 11:57AM

That's terribly sad. ACG needs to be brought down. Is there a class action suit against them yet? If not, we should organize one.

KlectorKid · March 23, 2003 12:05PM

Why not just drop them into an Iraqi stronghold with a little note saying something like "FOOD". It would be quicker than a class action suit.

FrattLaw · March 23, 2003 12:11PM

Did someone say "class-action lawsuit?"

Hard to do it as a class though. There's no ACG Registry, hard to say who the members of the class are. Who are the people that have truly been substanially harmed by ACG? Not that it hasn't happened, but lawyers shouldn't really go around advertising for clients, at least in my book. Anyone else know of others who have been taken to this magnitude? Perhaps, this might pave the way for individual suits vs. the Hagars.

Unfortunately, ACG is in Florida and I'm in California, though.

But it does appear the dam is starting to leak.

Michael

maddox · March 23, 2003 12:12PM

Makes my blood boil

There are two things in this world that represent the worst for humanity in my humble opinion, abuse of the elderly and racism. Sad, very, very sad

FrattLaw · March 23, 2003 12:14PM

By the way, you might want to darken out her contact info, unless you have express permission to disseminate it.

Michael

RegistryCoin · March 23, 2003 12:15PM

Michael. Aren't the collectors those who are harmed? Aren't we representative of collectors? Like breast implants, there was no "registry", just harmed end users. Does the fact that there is not a representative group, really make that big of a difference?

K6AZ · March 23, 2003 12:39PM

<< <i>By the way, you might want to darken out her contact info, unless you have express permission to disseminate it.

Michael >>

That one got by me, with all the others I have been scanning. It was corrected.

mbbiker · March 23, 2003 12:44PM

can someone copy and paste it onto the forum? I can't get it to load on my computer

Blade · March 23, 2003 1:06PM

I am just disgusted. A lifetime of hard work and dreams, stolen. I suppose there are always impressionable people willing to turn a dollar on penny stocks, etc, that will be easy fodder for crooks. Let's hope they get what they deserve and this woman receives a full refund plus interest.

airplanenut · March 23, 2003 1:07PM

<< <i>Did someone say "class-action lawsuit?"

>>

That's gotta be three times you've chimed in... I see an eager lawyer here

rd5425 · March 23, 2003 1:17PM

I hope she is reimbursed.

Max · March 23, 2003 1:24PM

What was she doing "investing" over a quater of a million in coins? Her "neice" should be sued for fiduciary dereliction.

Bottom line? Sad but yet another case of greed and someone trying to make a quick score.

ACG [and others like them] will continue to exist as long as people are greedy and think they can make a fast buck.

Focus on their over grading and I feel you may be able to better educate the masses. Painting them as shysters is not going to work as long as they have the blessing of the ANA and they can wave that photo opp photo donating $3k to the ANA.

Russ · March 23, 2003 1:35PM

Hey Max,

What's your real forum handle here?

Russ, NCNE

nwcs · March 23, 2003 1:47PM

Very sad indeed. And shameful. I pray for the Hagers' souls -- they need it.

Android · March 23, 2003 1:57PM

Neil,

An admirable attempt at prayer, but I think your efforts may be in vain, as these miserable people have no souls.

Andy

aknow · March 23, 2003 2:10PM

Meeting the group at Long Beach that represents ACG, this is very easy to believe and very sad for numismatics.
I'd like to hear about a pro bono investigation by some of our esteemed members from the legal profession, to safeguard our hobby, and represent some of the other misfortunate souls who've been ripped off by these folks.
Dr. Steve

Askari · March 23, 2003 2:48PM

Eric, is there anything in the material directly connecting the Hagers to boiler room tactics?

dorkkarl · March 23, 2003 9:38PM

it is certainly a very sad letter.

but i will say this: anybody who pushes investing in rare coins on anyone ought to be lambasted, it just is not an investment vehicle for the typical consumer. any unregulated investment should not be touted as an investment hedge. but no doubt the crime of tricking someone unknowledgeable into investing in coins is heavily exacerbated when the elderly are taken advantage of - as is the case w/ any crime, including insurance scams, pyramid schemes, etc.

my grandmother-in-law was caught up in a pyramid scheme, she lost $12,000. they had a real slick advertising campaign to take advantage of her. it's the exact same thing as the coins, imo. take advantage of someone's lack of knowledge.

K S

ACG Document #4- A must read for everyone

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