How arrogant is MS. Laura Sperber in her most recent "Hot Topics" wherein....

[carson city]

she attempts to placate the TPG services and then in the same letter states " if you are buying (coins) from a dealer, ask them to be sent to CAC. The majority of these coins when originally submitted are undetectable to the services."

 

She does not even attempt to indicate why CAC is better equipped or more knowledgeable than NGC or PCGS to detect such coins ! She just continues to slam it into NGC and PCGS, where is the contrition ?

 

I say, Praise NGC and PCGS and pass the ammunition-----she's back !!!!!

 

It's incredible, you can't make this stuff up !

[BillJones]

I have chosen to ignore her. It's one of the beauties of capitalism. One can choose his suppliers.

[MikeInFL]

I don't see the mutual exclusivity between "contrition" and "wanting two opinions rather than one", but please don't let that disuade you from your recurring rant.

[EZ_E]

CC, she just needs a lit'le luvin' to cure her attitude. You volunteering?

[DC Dawg]

I wonder if something was said to David Hall who thought ta customer to be hesitant of submitting coins for grading because of Ms. Laura's comments. If that happened, that could be use as evidence in a libel against Ms. Laura and Legend Numismatics--it proves actual damages. This could have prompted the PCGS lawyers to send a cease-and-desist letter that made the lawyers for Ms. Laura and Legend nervous. Since Ms. Laura's note said that they have "open[ed] communication with the leadership at PCGS," I wonder if the conversation began with the concept of apologizing or prepare to be sued.

 

After a year of vitriol against the perceived problems with both PCGS and NGC, why else would her apology only mention PCGS and specifically David Hall? Where is the apology to NGC?

 

Another thing to consider is that the apology part of the note is not consistent with Ms. Laura's writing style. The message is in a formal style with grammatically correct sentences and no informal constructs like contractions. The second part contains some minor grammatical errors, informal constructs, and reflects her regional-style (northern New Jersey) speaking characteristics. It would not be a stretch to suggest that the Legend lawyer(s) helped edit the apology.

 

I question the credibility of Ms. Laura's argument. Although she does handle more coins than I do, I find it difficult to believe that both NGC and PCGS have had that many problems. I have not heard many other dealers complain as loudly has Ms. Laura. So the question becomes is it Ms. Laura and those involved with the CAC or the rest of the industry? I do not know enough to answer this question, but I do know what has been presented and it does not look good for Ms. Laura.

 

One thing that would help her argument would be for the CAC to publish statistics on the coins they have verified. For example, I would want to hear about

• How many slabbed coins were submitted?
• Was are the pass/fail statistics?
• What are the pass/fail statistics for NGC and PCGS individually?
• What are those statistics on a per coin type and for each grading service?
• and so on...
  

Legend is scheduled to be in Baltimore this weekend. According to the information from the Whitman Expo website, they will be near a dealer I regularly buy from. Maybe I will introduce myself to Ms. Laura and ask her a few questions about this. I think I could have a good conversation with her... after all, I do come complete with a New York accent!!

 

Scott

[cpm9ball]

CC, she just needs a lit'le luvin' to cure her attitude. You volunteering?

 

As for me, she couldn't pay me enough.

 

Chris

[carson city]

WOW thanks for the heads-up Scott. This just gets curioser and curioser----Alice in Wonderland

[James_OldeTowne]

With no intent to insult anyone, who actually reads "Hot Topics" on this dealer's website? I mean, how many? Just curious. I've never ventured to their website to read any articles, though I occasionally browse their very nice inventory.

[just-john]

Well i just went to site and somebody must of had a talk to her and put her in her place

BRAVO

[Houston Investor]

Beyond their Auctions (discontinued), I never had any use for Legend.

 

I read her latest "hot topic" and its nothing more than a sales pitch to go out and buy CAC stickered coins which are a large part of her inventory. One thing I found hilarious about her article was the coin doctors coming up to her at a show and complaining. I don't believe these guys would want to reveal themselves by approaching someone like her and waving their flag.

[gmarguli]

One thing I found hilarious about her article was the coin doctors coming up to her at a show and complaining. I don't believe these guys would want to reveal themselves by approaching someone like her and waving their flag.

 

Who some of the big doctors are is well known in the industry. They aren't hidden. They're used by MANY of the dealers / wholesalers.

[Tradedollarnut]

I don't believe these guys would want to reveal themselves by approaching someone like her and waving their flag.

 

Time and time again, you reveal you have absolutely no clue...

 

Yahoo Chatroom

 

 

I wonder if something was said to David Hall who thought ta customer to be hesitant of submitting coins for grading because of Ms. Laura's comments. If that happened, that could be use as evidence in a libel against Ms. Laura and Legend Numismatics--it proves actual damages. This could have prompted the PCGS lawyers to send a cease-and-desist letter that made the lawyers for Ms. Laura and Legend nervous. Since Ms. Laura's note said that they have "open[ed] communication with the leadership at PCGS," I wonder if the conversation began with the concept of apologizing or prepare to be sued.

 

Uhhhh - nope.

 

I question the credibility of Ms. Laura's argument. Although she does handle more coins than I do, I find it difficult to believe that both NGC and PCGS have had that many problems. I have not heard many other dealers complain as loudly has Ms. Laura.

 

Have you ever even ONCE gone to a major coin auction and previewed the lots? Until you have, you have no credibility to disparage an expert dealers opinions of the state of the market.

 

[DC Dawg]

I wonder if something was said to David Hall who thought ta customer to be hesitant of submitting coins for grading because of Ms. Laura's comments. If that happened, that could be use as evidence in a libel against Ms. Laura and Legend Numismatics--it proves actual damages. This could have prompted the PCGS lawyers to send a cease-and-desist letter that made the lawyers for Ms. Laura and Legend nervous. Since Ms. Laura's note said that they have "open[ed] communication with the leadership at PCGS," I wonder if the conversation began with the concept of apologizing or prepare to be sued.

 

Uhhhh - nope.

How do you know? Do you have inside knowledge or are you speculating like the rest of us?

 

I question the credibility of Ms. Laura's argument. Although she does handle more coins than I do, I find it difficult to believe that both NGC and PCGS have had that many problems. I have not heard many other dealers complain as loudly has Ms. Laura.

 

Have you ever even ONCE gone to a major coin auction and previewed the lots? Until you have, you have no credibility to disparage an expert dealers opinions of the state of the market.

Yes, I have been to a few major coin auctions. I go to a minimum of three a year--all Bowers and Merena auctions associated with the Baltimore show. I have sat next to dealers, professional buyers, and collectors previewing different lots. While doing this, I have not heard a lot of sniping about the grading of the lots.

 

As for credibility, speak for yourself. I can question anyone's opinion when it differs from mine. Not only its my right (see the First Amendment), but it's my duty to question the alleged experts and make them justify what they are saying. Until I see real facts (which I outlined in my original post as to what I wanted to see), I cannot help but think that this is a personal war between Ms. Laura and (primarily) PCGS. In other words, make believe I am from Missouri and SHOW ME! Otherwise, I have every right to question her opinion and to question my right to do so is unimportant to how I feel and a non-sequitor in the grand scheme in this state of affairs.

 

Scott

[TheMightyDuke]

She's as arrogant as ever. She is throwing a whole new pitch now. Suggesting CAC? There are ulterior motives behind all this, and thats for sure. I wonder how many great coins (and there's no disputing she is one of the best out there), how many PQ coins, she has put into world class sets that WOULDNT get that coveted sticker. Boy, has this sticker thing taken this hobby by storm, or what? I think its going to play out like how my dad taught me about playing cards....win big early, lose big by the end of the nite.

 

The bottom line REALLY is this: We have all heard of 'buy the coin, not the plastic'. Why, suddenly, is the push to by MORE plastic apparents..people are leaning towards raw, but BANG, the thought 'I'll get more if its slabbed' hits home, and now...we have begun to not totally trust our grading companies (but there like major league umps, they cant possibly get it right 100% of the time..NOONE can)? How many times are we going to have to have a coin graded?

 

Laura claims they catch 95% of what has turned in the holder. What has TURNED...how many of their guys would have missed it when it was first slabbed??? Do we need someone to tell a serious, knowledgable collector of $10 Indians (and a collector of THAT series SHOULD be knowledgable and serious) something that that collector can see for himself? To wait for something to turn in a slab...matter of years..its like chumming the waters and waiting for the sharks to come. They make a living out of pointing out something that couldnt be seen years ago....The TPG's cover themselves with their guarantee. Sure, if anything helps get rid of doctoring, or at least minimizes it, I am all for it. CAC stickering isnt helping get rid of doctoring, its simply telling you what was painfully, plainly obvious to the coins owner. They only validate what you already knew. As far as their 'atta boy coin' stickers, thats just bull. If a coin is obviously PQ in its own right, even raw, who needs someone to tell you 'yup, dat dar cooeen is PQ'?

 

1/3 of her apology was nothing but puffery for CAC. The rest of her apology was something along the lines of a 16 year old boy being told by the girl 'i like you, but not in that way'. Something big is brewing.

[just-john]

Lets face it it's all about the plastic thats where the money is made.More money has been spent on plastic than all the coins auctioned off at all the major auction this century.Including 1913 nickel 1 and the $20 1933 gold and every other high priced coin every collector out there is paying one way or another for the plastic.

[TheMightyDuke]

And 'all about the plastic' goes against one of the first lessons we learn as collectors.

[WoodenJefferson]

I do not really know how to properly respond to this open letter, so I’ll say it this way:

 

There are times we dig our own holes, other times we have excavation help, expected or even at times the un-expected. If you keep digging and never look out to see if you’re making any progress, you will soon disappear from others sight.

 

[MarkFeld]

She's as arrogant as ever. She is throwing a whole new pitch now. Suggesting CAC? There are ulterior motives behind all this, and thats for sure. I wonder how many great coins (and there's no disputing she is one of the best out there), how many PQ coins, she has put into world class sets that WOULDNT get that coveted sticker. Boy, has this sticker thing taken this hobby by storm, or what? I think its going to play out like how my dad taught me about playing cards....win big early, lose big by the end of the nite.

 

The bottom line REALLY is this: We have all heard of 'buy the coin, not the plastic'. Why, suddenly, is the push to by MORE plastic apparents..people are leaning towards raw, but BANG, the thought 'I'll get more if its slabbed' hits home, and now...we have begun to not totally trust our grading companies (but there like major league umps, they cant possibly get it right 100% of the time..NOONE can)? How many times are we going to have to have a coin graded?

 

Laura claims they catch 95% of what has turned in the holder. What has TURNED...how many of their guys would have missed it when it was first slabbed??? Do we need someone to tell a serious, knowledgable collector of $10 Indians (and a collector of THAT series SHOULD be knowledgable and serious) something that that collector can see for himself? To wait for something to turn in a slab...matter of years..its like chumming the waters and waiting for the sharks to come. They make a living out of pointing out something that couldnt be seen years ago....The TPG's cover themselves with their guarantee. Sure, if anything helps get rid of doctoring, or at least minimizes it, I am all for it. CAC stickering isnt helping get rid of doctoring, its simply telling you what was painfully, plainly obvious to the coins owner. They only validate what you already knew. As far as their 'atta boy coin' stickers, thats just bull. If a coin is obviously PQ in its own right, even raw, who needs someone to tell you 'yup, dat dar cooeen is PQ'?

 

1/3 of her apology was nothing but puffery for CAC. The rest of her apology was something along the lines of a 16 year old boy being told by the girl 'i like you, but not in that way'. Something big is brewing.

You're missing a very large part of the picture. With respect to your comment "CAC stickering isnt helping get rid of doctoring, its simply telling you what was painfully, plainly obvious to the coins owner" - CAC has pointed out problems with coins which were anything but obvious, to a number of their owners, some of whom are extremely knowledgeable.

[carson city]

Forget about missing a large part of the picture, you appear to be missing the entire picture. Ms. Laura's comments are arrogant at best and a slap at NGC and PCGS at worst. CAC appears to be heading the way of other follies such as a new and improved auction site !

[DC Dawg]

You're missing a very large part of the picture. With respect to your comment "CAC stickering isnt helping get rid of doctoring, its simply telling you what was painfully, plainly obvious to the coins owner" - CAC has pointed out problems with coins which were anything but obvious, to a number of their owners, some of whom are extremely knowledgeable.

Then when will the CAC publish it's data to back up its claims that there are problems?

 

Or is this going to be "take our word for it, we're experts?" I think the last time that happened the US military was in Iraq looking for WMD that did not exist!!

 

Scott

[Tradedollarnut]

Forget about missing a large part of the picture, you appear to be missing the entire picture. Ms. Laura's comments are arrogant at best and a slap at NGC and PCGS at worst. CAC appears to be heading the way of other follies such as a new and improved auction site !

 

Funny you should say that on the very day they're announcing their new auction company. What a nitwit you are....

[Tradedollarnut]

Do we need someone to tell a serious, knowledgable collector of $10 Indians (and a collector of THAT series SHOULD be knowledgable and serious) something that that collector can see for himself?

 

Apparently someone did - don't you remember the 'magic felt pad' episode with a $10 indian?

[jackson64]

I'll leave you dealers to argue this one out...as a collector solely, I don't care about Ms Laura...CAC or the slab wars.......I just like attractive coins and hope I can find the criteria I demand for the price value I'm willing to pay....

[MarkFeld]

You're missing a very large part of the picture. With respect to your comment "CAC stickering isnt helping get rid of doctoring, its simply telling you what was painfully, plainly obvious to the coins owner" - CAC has pointed out problems with coins which were anything but obvious, to a number of their owners, some of whom are extremely knowledgeable.

Then when will the CAC publish it's data to back up its claims that there are problems?

 

Or is this going to be "take our word for it, we're experts?" I think the last time that happened the US military was in Iraq looking for WMD that did not exist!!

 

Scott

Scott, that's not your typical reasonable type of debate. I doubt that published data of that sort would prove anything to you (or others). Which would you prefer, data, or the word of the coins' owners, whom were shown the problems which they were previously unaware of?

[carson city]

Translation, no database !

[MarkFeld]

I'll leave you dealers to argue this one out...as a collector solely, I don't care about Ms Laura...CAC or the slab wars.......I just like attractive coins and hope I can find the criteria I demand for the price value I'm willing to pay....

That sounds like a very reasonable and hopefully enjoyable approach.

[carson city]

WOW, another auction company to be announced today---we can hardly wait !

[EZ_E]

I'll leave you dealers to argue this one out...as a collector solely, I don't care about Ms Laura...CAC or the slab wars.......I just like attractive coins and hope I can find the criteria I demand for the price value I'm willing to pay....

 

[font:Arial Black] Amen! [/font]

[Doogy]

Personally speaking, I read Laura's blogs on her website. I find them to be honest assessments of coin shows, market happenings, and about rare coins in general. This little hobby is ours is now a huge worldwide market, and some are making gross amounts of money as scam artists with virtually no oversight. Laura sees herself as someone that is trying to help, and I sincerely think she is having an effect. IF coin docs are harrassing her at shows as she says, and i have no reason to think otherwise, then she is certainly doing the right things.

 

Is she brash? Of course, but nobody ever got anywhere in life being timid. IF more large scale and caring dealers like her stood up to the games being played in this multi-billion dollar hobby of ours, things would be a lot better for all of us that are merely collectors (no matter what "level" of collector you consider yourself to be)

 

Doug

 

edit: syntax

[Tradedollarnut]

IF more large scale and caring dealers like her stood up to the games being playing in this multi-billion dollar hobby of ours, things would be a lot better for all of us that are merely collectors (no matter what "level" of collector you consider yourself to be)

 

Amen!