Meeting of the Board 6:30 PM, November 24, 2012 - Holiday Inn – Van Dyke, Warren

I. Call to Order Parks

President Parks called meeting to order at 6:37PM.

II. Roll Call LeBlanc

All members of the board present except Fenwick and Sirna. Sirna arrived at 7:13pm, before discussion of section XIV, part 4.

III. Introduction of visitors Parks

Bill Anderson, Larry Briggs, Orva Dietrich, Brian Tideswell, Bill Summerell, Brian Malnar, Jerry Harp, Ray Harp, Tom Klunzinger, Frank Passic, Clifford Mishler, George Harrison, Jean Demescu, Steve Garvin, Dave Henderson, Don Rapson, Caroline Rapson.

IV. Invocation LeBlanc led the board in prayer.

V. Approve Minutes

A: Minutes of Sept. 23, 2012 LeBlanc

With a few changes noted on official copy, Irick moved that we accept these minutes as changed, Chandler 2nd, motion passed.

B: Report on Nov. 4, 2012 Conferance Call

No changes requested to the minutes. Pall moved, Chirco 2nd a motion to approve; motion passed.

VI. Additions to Agenda Board

XIV d Restricted Funds $4763

XVII f Honorary Life Membership by director Marzilli

g Outgoing Thanks by Rothfeld

VII. Approve Agenda Board

Pall moved that we approve the agenda as amended. Sharpe 2nd, motion passed.

VIII. Director Absences LeBlanc

LeBlanc reported for current term: (Absences - Sharpe 3, Chandler 1, Ewald 1, Fenwick 2, Marzilli 2, Pall 1, Strub 1, Rothfeld 1) LeBlanc states that these counts do not include the board meetings held via telephone conference.

Pall moved, and Wostyn 2nd, a motion that Fenwick be removed for excessive absences. Roll Call: Bobrofsky no, Chandler no, Chirco no, Ewald yes, Friedman no, Irick yes, Marzilli no, Pall yes, Rothfeld no, Sharpe yes, Strub yes, Wostyn yes. Parks voted yes to break the tie, so motion passed.

IX Appointments (If any) Parks

Parks appoints Brian Tideswell to be Convention Chairman for our Fall 2013, Fall 2014 Conventions. He also appoints him for Spring 2013, and Spring 2014 conventions if they are held in SE Michigan. Al Bobrofsky moved to confirm the appointment of Brian Tideswell, Sharpe supported; motion passed with the abstention of Wostyn.

Parks then appointed Brian Malnar to the board. Al Bobrofsky moved, and Ewald 2nd, a motion to confirm the appointment of Brian Malnar to fill the vacant director position; passed.

At this time, Malnar took his seat.

X. Membership Comments Parks

Tom Klunzinger – following up a letter – requested that Mich-TAMS be awarded a spring convention co-host slot. The next Spring convention that is available and for which Mich-TAMS is eligible. LeBlanc reports that Spring of 2016 is the next available and eligible date.

XI. Election Report CPA Pat Heller gave his report.

Vote counts: President J Wostyn (unopposed) 344. Vice President Brian Malnar (unopposed) 350.

Elected Directors: Al Bobrofsky 280, Brett Irick 246, Dr. Andrew Parks 241, Steve Garvin 225, John Chirco 213, Dr. Karl Mark Pall 204, Steve Friedman 200, Steve Marzilli 190, Bill Anderson 175, Joe Peruski 165, Thomas Klunzinger 158, Dany Rothfeld 157.

Unsuccessful Director Candidates: Doug Jennings 146, Chuck Sharpe 140, Bill Ewald 120, Thomas Dombrowski 118, Mike Strub 117, Dan Davey 105, Mark Benvenuto 90.

Noted that some ballots were spoiled for Oakland and Ingham counties by overvoting, and that a few ballots were also spoiled for over voting of Director slots. Note ballots were counted in accordance with our bylaws. There was a high turnout – 40% versus the typical 32%.

Al Bobrofsky moved to accept the election results report of CPA Pat Heller. Pall second; motion passed.

XII. Financial Review 2011 by CPA LeBlanc

Board has ordered a review of our 2011 books. LeBlanc reports the CPA should have his report ready by next board meeting. He intends to present in person, subject to sufficient proximity of meeting locale and not being too late into the tax season.

XIII. Officer Reports

A. President Parks Thanks everyone for their hard work in this trying time. Steve Friedman, Julianna Wostyn, John Chirco especially commended (Round of Applause). Thanks outgoing board. Welcomes new board. We have worked through dissent, hopes we leave as friends.

B. Vice President Bobrofsky no report given

C. Secretary-Treasurer LeBlanc reports:

XIV. 1. Review Current Financials

a. Regular Checking Account (Nov. 13, 2012) $26376. Approximately.

b. Life CD $50K 3.4% Matures on 12/14. CD $25K 1% Matures 12/13. Savings Account $3903.

$1000 Face value of Silver (Bought at $28600)

c. Cash Reserve Flagstar Bank Demand Savings .2% $10K

d. Committed funds of $4763. These are restricted for use for Felix Schlag Memorial.

2. Membership Report

a. Regular Membership 709, Young Numismatists 90, Clubs 27, Honorary Life Members 22, Life Members 382

Total of 1230 (Down 18 versus Fall of 2011)

b. New Life Application ~Richard Guzior and George Harrison III and Douglas Merenda

Irick moved, and Chandler 2nd, a motion to approve the life membership applications of Richard

Guzior, George Harrison III and Douglas Merenda, which passed unanimously.

3. Property Report

Irick moved acceptance of the property report, Chandler 2nd, motion passed.

4. 2012 Budget LeBlanc reports:

Strub brought us under budget by $8000 for MichMatist.

Irick opinions $11,540 membership dues income in budget is aggressive – should reduce this projection.

Strub asked where the convention program expenses are located in the budget? Le Blanc: convention rent. Strub: Where is the convention program revenue shown? LeBlanc states he will break convention program revenue and expense out in future budgets.

5. Fall 12 Budget LeBlanc

Advertising expenses will be over budget. Dealers were impressed by success of bringing people to the show. Lots of dealers with shops were very helpful to accept and distribute our flyers. Friedman suggested that we put a thank-you in the next MichMatist. A banner ad that normally cost $1000 was given to us for $400 because we’re 501c3 – by the Macomb Daily. Thus – Pall says – when we’re placing ads in the future, tell them of our 501c3 status ! News and Free Press ads – 4 ads total – cost ~$1000.

Chandler said business was outstanding – twice normal.

6. Spring 2013 Proposed budget LeBlanc reports he has no budget prepared yet, due to uncertainty in venue.

7. Correspondence LeBlanc

LeBlanc reports lately has fielded 12-17 phone calls per day regarding show.

Written: Mich-TAMS regarding Spring co-host request.

Letter from Mayor of Warren wanting to do whatever he could to ensure our success.

XV. Committee Reports

A. Exhibit Passic

Happy with how it turned out – lots of room for exhibits section. 149 cases, all fit, could never have been done at Hyatt. 38 exhibitors. Great sponsors helped us with awards. Asks us to consider – purchase the large paper clips that hold up sheets/cards for labels and titles. Committee’s clips were all used for dealer tables.

B. Relocation – Spring 13 Bobrofsky

Committee has been working very hard, but unsuccessfully, to have a firm proposal for tonight. By Monday, Chirco will be able to get revised prices. Options: a) Grand Rapids Ford Field House. b) Back at this location. c) Return to Dearborn. Probably a conference call will be necessary before end of year. Noted that the MCC venue has some physical issues.

Sirna suggested that Wostyn be authorized to enter into contracts on behalf of the organization for Spring 2013.. Al Bobrofsky moved that the executive committee be empowered to negotiate, and for Wostyn to sign a contract for our Spring 2013 convention at a venue and dates they deem acceptable. 2nd. Debate. A Call for question was heard, such call passed on verbal vote to end debate. Main motion Passed unanimously.

At this time Parks called for a December 9, 7PM telephone board meeting.

3. Bourse Fee Deferred.

4. Conv. Coordinator Covered in appointments section earlier.

C. Webmaster Report LeBlanc

LeBlanc has been keeping website up to date. Many Postings made within 1 hour..

D. Auctions Friedman (Pro Tem) No report

E. Past Presidents Ann Bobrofsky No report

F. Mich-Matist/Web Media Al Bobrofsky Kudos to Mike Strub, who explained that costs of printing have been dramatically reduced for both the MichMatist and the convention brochures.

G Publicity Chirco

Bill Ewald and his crew put signs up all over Warren, as well as in front of Adoba (old Hyatt). Ads were great.

H. Membership Sharpe reported:

Several clubs around are really hurting. Ann Arbor formation is underway. Few new clubs starting… Sharpe responsible for several new clubs in recent years, or helping with them. Friedman asked for tables for new clubs to post their literature, and to man them. Support from all board members.

MSNS should offer table space for local clubs. Scouting – February date – 25 young scouts working on their Numismatics merit badge. Gunter Lopez is the merit badge counselor – all the local councils but one were interested in his merit badge counseling – he is just beginning.

I. Convention Malnar reports:

Going well except for speed bumps. He feels attendance is same as Hyatt. 1500 yesterday, 800 today. Expects 200-300 tomorrow. Several board members felt attendance was much greater then in past.

J. Education Pall reports: Class attendance has been great. Edward Twarog’s session on Photographing coins well attended. Macomb money class attracted many. Too bad we hadn’t put together a boy scout’s class. Appreciates the many hours of preparation for this convention. Parks suggested a class on authentication and counterfeits be done again, at next Spring show. Need ANA help to have a grading class for the next Fall show. Presenters used the projectors in our classrooms. Heller presentation had great questions on gold and silver – he was outstanding. Irick suggested Bob Campbell for counterfeit/authentication teacher. Mike Faraone also is great for teaching grading. Member clubs might be able to subsidize members taking courses, as one of the clubs Irick belongs to is. Friedman – ANACS was going to come, but there was a schedule conflict – but they are very enthusiastic about participating at our next show. Larry Briggs said he could give an authentication seminar for us and save us money! Wostyn wants this discussion to move to committee.

K. Finance Parks

Review underway. Parks has reviewed recent bank statements, no problems found.

L. Dealer Friedman reports that he and Strub did a survey. Thoughts on venue – positive: 80, Negative 13, Neutral 7.; Sales 86% good, 6% bad, neutral 8%. Show preference: MCC 36%, Hyatt 36%, 27% Neutral, 1% refused to answer. Valet service needed for older dealers. Need better chairs – need to rent better quality – possibly add text to the application as well where heavy individuals may request a heavier duty chair. Customer survey. Steve asked 83 attendee people – like venue? Rather have here or Hyatt? Everyone signed their names. 19 people answered that they refused to compare, as they hadn’t been to Hyatt and wouldn’t go there anyway. 53 liked, 11 didn’t like, MCC. 20 would rather be at Hyatt, 45 would rather it be at MCC. Comments – like wide aisles, like cheaper food and better proximity, like one room instead of 3; liked closer bathrooms; concerned about dealers not liking this new venue.

Friedman promised, with constructive suggestions, to better handle dealer placement at the next show.

M. Bylaw Revision Bobrofsky Draft completed. Suggestions have now been incorporated and distributed for further review. Between 1/15/13 and 3/15/13 will have another meeting. Expect to have draft to review at next convention’s board meeting.

XVI. Old Business

A. Schlag Memorial Update Al Bobrofsky

Re-applying after first of year for an informational rather than historical plaque.

B. Co-Host Awards LeBlanc recommends no co-host awards be set at this time due to flux. Spring of 2013 is flint flying eagle 50% and Marysville 50%. Fall 2013 50% to Michigan Treasure Hunters and 50% Royal Oak. Spring of 2014 50% downriver only. Fall 2014 50% to Lincoln only. Spring of 2015 50% to Lansing and 50% to Livingstone. Irick: Mich-TAMS requested award. Irick moved that we award Spring 2016 50% co-host to Mich-TAMS. 2nd and passed.

8:35 break – 8:46 return

C. ICTA report Rothfeld reports: IRS investigating cash businesses. Horror stories - $500k has been seized from coin dealers – they send agents who come under the guise of investigating others, when they are actually investigating YOU. Let your counsel answer such questions, not you. Be careful.

Some dealers think they can structure their deposits in banks in increments under $10k. IRS looks at this and if there are lots of them, you may be investigated.

In New York, 2 10 ounce bars of gold have been found to have tungsten cores.

When you fill your 8300 forms for $10k transactions – you can fill out electronically now.

XVII. New Business

A. 2012 Taxes Hire Accountant LeBlanc LeBlanc has asked Jack Huggins to prepare our tax returns for 2012. He will do so. Asks board approval. Al Bobrofsky moved, and Chirco 2nd, a motion to hire Jack Huggins to prepare our tax returns for 2012, motion was approved.

B. Insurance Renewal LeBlanc

1. E/O up to $1500 LeBlanc asked for approval to renew our E/O insurance. Al Boborofsky moved that we allow LeBlanc to renew our E/O insurance, Chirco 2nd, approved.

2. Liability up to $1500 LeBlanc asked for approval to renew our liability insurance. Pall moved that we allow LeBlanc to renew our Liability insurance, Chandler 2nd, approved.

3. Bond up to $600 LeBlanc asked for approval to renew our bonding. Al Bobrofsky moved that we renew our bond at a cost of up to $600, Friedman 2nd, approved.

C. Storage Yard Renewal (up to $1500) LeBlanc LeBlanc asked for approval to pay rent for storage yard for 2013. Al Bobrofsky moved that we renew our storage yard rental agreement for another year for up to $1500, Chandler 2nd, approved.

D. Checking Account Signers. LeBlanc asked that checking account signers be changed in early January to LeBlanc, Wostyn, Al Bobrofsky and Malnar. It was so moved, 2nd, passed with Wostyn, Bobrofsky and Malnar abstain.

E. Member Complaint Executive session will occur later in meeting per Parks.

F. Honorary Life Memberships Marzilli Marzilli moved that Brian Malnar be given an Honorary Life Membership for his services over many years. Wostyn 2nd. Passed, Malnar abstention. Irick recommended mention again at tomorrow’s breakfast.

G. Rothfeld – asked that we create a program that gives recognition or a certificate to departing board members. Chirco 2nd. Pall said he would prepare these if motion passes. Parks said he would write. Passed.

Marzilli asked that Mike Annis, a dealer who recently passed away earlier today, be sent flowers. President Parks has authority to so order. LeBlanc will handle. Annis was known to send business to others. Many times ~25 years ago he donated a $20 gold piece to the YN of the year for the ANA.

XVIII. Board Member Comments

Chandler – lack of youth. Need to do more to encourage.

Irick – need to increase awards for YN’s that don’t win Best of Show, e.g. ¼ ounce gold for them only.

Marzilli – glad this is just about over. Sleepless about whether show would bomb – grateful for how it turned out. Hopes votes weren’t taken personally.

Rothfeld – noted his own donation to the YNs (Whitman folders and redbooks) and asked the status. Half were given out. Maybe we have a different crowd in Warren, but everyone seems to be raving about the show.

Friedman – hopes the defeated board members will stay active. Agrees with Rothfeld – seems that money and demographics have shifted toward Warren and away from Dearborn. Would like to see all of the board members in the new board work as hard as the current board.

Chirco – One thing he’s learned is we have lots of organizational problems – left hand doesn’t know what right is doing. Requests our incoming president to pay attention to this topic.

Ewald – As a departing board member, thanks for friendship – last year and a half has been educational, helped him grow. Best of luck.

Malnar – thanks for HLM. Dealer placement will be difficult for whomever does this next.

Sharpe – it’s been fun – invites us all to his next show! It always will have an MSNS table.

Pall – we should send a special letter of thanks to Mayor Jim Fouts of Warren – and his staff. All the switches were turned on for us, we were very welcome. We went out on 55,000 water bills! City’s newspaper had us too. Local Warren TV. Dearborn can’t touch this. Another letter to Macomb Daily for placement of our ad for low price. Parks added – letter to Sheriffs too.

Ann Bobrofsky – Happy to serve, will still be active – enjoys working at table, taking questions, will continue to do it. Community College reps have been very very gracious and attentive. Wishes everyone good luck.

Al Bobrofsky – Based on his own prior experience as a mayor, agrees it is good for a mayor to get phone calls that are nice. Has enjoyed working with us all. After many terms over 50 years, about ready to hand over reins.

Wostyn – Thanks Al Bobrofsky for all of his guidance, Sirna for spending so much time in negotiations / contracts, Al and Pall for stepping up at an inconvenient time for themselves, committee for their hard work.

Strub – enjoys meetings, clarifying what is happening. My status will not seem to change, as I’ll still do same things as before – taking minutes at all board meetings – except that I will not be able to vote.

Sirna – impressed with the workers who moved convention. Led Standing Ovation for Julianna Wostyn for her leadership in this. Notes that we are an aging organization. We need to do more to bring in new members, like Chuck Sharpe is doing. At other major shows, this issue has been noted.

Parks – Hopes that educational forums we’ve had, etc. are helpful to bring more young people in. It’s difficult to bring them in and keep them.

XIX. General Membership Comments

Larry Briggs – has been setting up for over 30 years – kept away only by surgeries. He would like to support this group and make sure it stays strong. This spring the show was moved by a month. That conflicted with a major show and took 20 dealers away from us. Grand Rapids would be terrible as a location for a show, in his opinion and that of 17 fellow dealers. We did a hell of a job at this show – he was shocked at how well. He hasn’t heard anyone, including himself, say that the show was bad. Attendance was good.

Cliff Mishler – what this board did in these last four months impresses – though he would rather have the hotel, were it possible – we as a board need to be commended for what we have accomplished – usually a move like this is a negative move, but we succeeded. This hobby is a small community – and what we do individually makes this community work. We as a body did the best we could, and it was an exemplary job in serving that community. We deserve all the credit we can possibly claim.

Irick moved we go into executive session. Second by Friedman. Passed at 9:39 pm.

*** Out of Executive Session 10:29pm ***

Doors being opened, found no members in hallway.

XX. Adjourn

Irick moved, and a 2nd heard to adjourn. Approved at 10:30 pm.