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Spectrum Group International, Inc. (SPGZ.pk) subsidiary, Teletrade, America’s premier Internet auctioneer of certified coins and currency, announced today that Corey Maita has been appointed as president. Maita joined the company in November 2011 as vice president of business development.

maita teletrade1 Corey Maita has been appointed president of TeletradeSince joining Teletrade, Maita has led the company in its day-to-day activities and engineered an impressive list of highly successful events and projects. The company’s special 25th Anniversary Auction in December 2011 realized over $1 million, April’s Best of Spring Sale realized more than $800,000, and April 2012 was Teletrade’s best month in sales volume since November 2010. In addition, Maita oversaw the re-launch of the company’s website with a multitude of new user-friendly functions, including an auction countdown timer, and increased bidding transparency by eliminating hidden reserves.

“In his relatively short time at Teletrade, Corey has demonstrated great leadership, commitment and dedication, as well as an in-depth understanding of numismatic e-commerce, all of which have already begun to positively affect and influence Teletrade.  I am grateful that Corey has accepted the challenge of leading Teletrade, giving it the full-time attention and dedication it deserves.  I have complete confidence that Corey will lead Teletrade’s services to the next level,” said Greg Roberts, CEO of Spectrum Group International, Inc.

Maita’s professional career in numismatics began as a sophomore at the University of Florida when he and two partners founded Gainesville Coins in Lutz, Fla. Maita and his partners successfully transitioned Gainesville from eBay to their own e-commerce-focused company website and eventually grew the company to accomplish $300 million in annual sales with an A+ rating from the Better Business Bureau.

Established in 1986, Teletrade is the largest and most active marketplace for certified coins and currency with more than 189,000 registered bidders and over 300,000 lots featured in our auction system each year. Teletrade offers 25,000 to 30,000 coin and currency lots each month in auctions held every Sunday, Monday, Tuesday and Wednesday, plus advertised special event sales on other days of the week. Teletrade is a subsidiary of Fortune 500-ranked Spectrum Group International, Inc. Visit www.teletrade.com for detailed information on auctions and prices realized, or call 800.949.2646 to speak to a representative.

About Spectrum Group International, Inc.

Spectrum Group International, Inc. (together with its subsidiaries, “we,” the “Company” or “SGI”) is a global trading and collectibles network. We are a trader of precious metals and an auctioneer of coins, stamps and wine, serving both collectors and dealers. We are also a merchant/dealer of certain collectibles. Our collectibles offerings span the price spectrum from modest to ultra-high end. Furthermore, we offer loans to coin dealers, collectors and investors backed by their precious metals, rare coins, and other collectibles as collateral.

Our Trading business is conducted through A-Mark Precious Metals, Inc. (“A-Mark”) and its subsidiaries. A-Mark is a full-service precious metal trading company, and an official distributor for many government mints throughout the world. A-Mark products include gold, silver, platinum and palladium for storage and delivery in the form of coins, bars, wafers and grain, and our services include financing, leasing, consignment, hedging and various customized financial programs. A-Mark’s subsidiary, Collateral Finance Corporation, provides financing on a wide array of bullion and numismatic products.

Our Collectibles business operates as an integrated network of leading companies concentrating on numismatic (coins) and philatelic (stamps) materials and rare and fine vintage wine. We have offices and auction houses in North America, Europe and Asia. In addition to traditional live auctions, we also conduct Internet and telephone auctions.

Our Collectibles companies in the philatelic field are auction houses Harmer Global Philatelic Network GmbH, Corinphila Auktionen of Zurich, Switzerland, Heinrich Köhler Auktionshaus of Wiesbaden, Germany, Corinphila Veilingen B.V., Amstelveen, Netherlands, and John Bull Stamp Auctions, Ltd of Hong Kong. Spectrum Group’s Collectibles companies in the numismatics field include Stack’s Bowers Galleries (rare coin and currency auction house), Stack’s Bowers and Ponterio (world and ancient coins and currency auction house), Teletrade (online coin auctions), and Spectrum Numismatics International (wholesale rare coin dealer), all based in Irvine, California. Spectrum Wine Auctions is engaged in the sale by auction of rare and fine vintage wine.

SAFE HARBOR STATEMENT

Statements in this press release that relate to future plans, objectives, expectations, performance, events and the like are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and the Securities Exchange Act of 1934. Future events, risks and uncertainties, individually or in the aggregate, could cause actual results to differ materially from those expressed or implied in these statements. Factors that could cause actual results to differ are identified in our public filings with the Securities and Exchange Commission (SEC), and include the fact that we have not filed all of our reports required by the Securities Exchange Act of 1934. More information about factors that could affect our business and financial results included in our public filings with the SEC, which are available on the SEC’s website located at www.sec.gov.

The words “should,” “believe,” “estimate,” “expect,” “intend,” “anticipate,” “foresee,” “plan” and similar expressions and variations thereof identify certain of such forward-looking statements, which speak only as of the dates on which they were made. Additionally, any statements related to future improved performance and estimates of revenues and earnings per share are forward-looking statements. We undertake no obligation to publicly update or revise any forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements.

 

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