Benefit Auction Raises More Than $32,000 for Collectors' Legal Fund

October 14, 2009

GAINESVILLE, Mo., Oct. 14 /PRNewswire/ -- Despite the current gloomy economic situation, the 2nd Annual Ancient Coin Collectors Guild (ACCG) (www.accg.us) Benefit Auction managed to raise more than $32,000 this year. The entire proceeds of this sale will support ACCG operations, primarily the guild's legal fund.

The ACCG is presently engaged in a Freedom of Information Act (FOIA) lawsuit against the U.S. State Department in an effort to penetrate that department's widely recognized and longstanding wall of secrecy regarding cultural property issues. It seeks the release of information withheld from collectors in multiple FOIA requests. On another front, the guild is contesting import restrictions on ancient coins from Cyprus and China.

VAuctions.com donated the Internet sale venue this year with photography and cataloguing donated by the firm of Sayles and Lavender and fulfillment/shipping contributed by Mary Lavender. Some 40 private collectors, dealers and friends of the ACCG, generously donated 197 auction lots, which consisted of ancient coins, books and $100 gift cards.

While some lots achieved more than their pre-sale estimates, the spirit of the auction was best expressed by the sales of gift cards which all went for more than their face value. Particularly poignant, was the sale of a silver coin of Ptolemy XII of Egypt (80- 58 BC). The coin is identical in the design and inscription to coins minted in Cyprus, which are controlled by U.S. import restrictions being fought by the ACCG. The coin even includes the mintmark for Paphos in Cyprus. However, this particular coin was actually minted in Alexandria, Egypt and can only be distinguished from the Cypriot versions by subtle stylistic differences understood only by experienced numismatists. There are no import restrictions on Egyptian coins. The ACCG maintains that these import restrictions are not only unjust but are also impractical. Other ambiguous coins of this nature have been illustrated and described by Arthur Houghton, a former member of the President's Cultural Property Advisory Committee. See:

http://www.accg.us/issues/news/ArthurHoughtonAttachments.pdf

Court filings related to the FOIA lawsuit, launched in concert with the International Association of Professional Numismatists (IAPN) and the Professional Numismatists Guild (PNG), have been released by the ACCG and can be accessed at:

http://www.accg.us/issues/news/accg-releases-files-in-foia-lawsuit

This suit is currently before a federal judge awaiting a decision.

A 3rd Annual ACCG Benefit Auction is planned for 2010

Contact: Wayne G. Sayles, 417-679-2142

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SOURCE Ancient Coin Collectors Guild