The U.S.-based Professional Numismatists Guild (PNG) has voted to expel member Jason Bradford, the founder of Legacy Currency Grading (LCG), for conduct prejudicial to the guild.
Bradford, who’s also the former president of Professional Coin Grading Service (PCGS) Currency, joined the PNG in 2015 as member #765; however, his membership was suspended in July 2019, only five months after he launched LCG.
Following PNG bylaws, the guild’s board of directors voted on April 8 to expel Bradford rather than reinstate his membership or accept his resignation.
Similar to the Canadian Association of Numismatic Dealers, the PNG is a non-profit trade association for U.S. coin and paper money dealers, who must adhere to a strict code of ethics when buying and selling numismatic material.
In 2019, the U.S.-based Professional Currency Dealers Association also expelled Bradford.
The expulsions stem from Bradford’s involvement in a fraud and breach of contract case when he was at the helm of PCGS Currency.
In May 2019, the Los Angeles Superior Court ordered Bradford to pay for general damages totalling $150,000 US (plus interest from Dec. 20, 2018), punitive and exemplary damages “in an amount according to proof,” plus the costs of the lawsuit launched by Stack’s Bowers.