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Dave Bowers Gets His Name Back!

Started by DC Dawg,

10 posts in this topic

DC Dawg

DC Dawg

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Spectrum Group International’s Bowers and Merena Auctions to Join Forces with Stack’s to Create Stack’s-Bowers Numismatics

 

IRVINE, Calif.--(BUSINESS WIRE)-- Spectrum Group International, Inc. (SPGZ.PK) announced today that its subsidiary Bowers and Merena Auctions, one of the world’s pre-eminent auctioneers of rare coins and currency, has entered into an agreement with Stack’s, the oldest rare coin retail and auction company in the U.S., to combine their operations. The new company, which will be known as Stack’s-Bowers Numismatics, with a world coin division to be known as Stack’s-Bowers and Ponterio, will be owned 51% by Bowers and Merena Auctions and 49% by Stack’s. The closing, which is subject to the satisfaction of customary conditions, is expected to take place in early 2011. more...

 

 

Quick history:

Dave Bowers and long time business partner James F. Ruddy (author of Photograde) started Bowers and Ruddy in 1982. Ruddy left the firm shortly there after. Bowers ran it for a while until he partnered with Ray Merena in 1986 and they changed the name to Bower's and Merena. The company was bought and sold several times but kept the Bowers and Merena. The company was finally sold to the Spectrum Group in 2006 from Collector's Universe (owners of PCGS). Bowers teamed up with Christine Karstadt to form American Numismatic Rarities. ANR then merged with Stack's in 2008 making Bowers co-char of the newly merged company that kept the Stack's name.

 

None of the press releases mentioned who will be running the merged company or what Dave Bower's role will be.

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physics-fan3.14

physics-fan3.14

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Now maybe the two of them together can come up with a web site that won’t lag and be as functional as Heritage .

 

That would be really nice. Both companies have incredible talent and great coins, but both of their websites are terrible. Maybe they can hire someone to make a useable site so I can buy some good stuff?

 

 

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gpnyc

gpnyc

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Great, now B&M joins the list of auction houses that will charge me NY sales tax on every invoice. Stacks always did, Heritage just started last year. Who is left??? I can't place competitive bids anywhere anymore as I am 9% in the hole against other bidders from the get-go. Rant over...

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DC Dawg

DC Dawg

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Great, now B&M joins the list of auction houses that will charge me NY sales tax on every invoice. Stacks always did, Heritage just started last year. Who is left??? I can't place competitive bids anywhere anymore as I am 9% in the hole against other bidders from the get-go. Rant over...

David Lawrence Rare Coins. They're located in Virginia Beach, Virginia.

 

Ira and Larry Goldberg Auctioneers is located in Beverly Hills, California.

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BillJones

BillJones

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Great, now B&M joins the list of auction houses that will charge me NY sales tax on every invoice. Stacks always did, Heritage just started last year. Who is left??? I can't place competitive bids anywhere anymore as I am 9% in the hole against other bidders from the get-go. Rant over...

 

1. Lobby New York State for the invoices over $1,000 pay no sales tax rule. Many states have it, but I know the politics in New York are slightly the left Lenin so it's probably impossible.

 

2. Move to Connecticut. They don’t charge sales tax on coins, or at least they were not doing it when I was a dealer in New England. I don’t know about New Jersey’s tax rules.

 

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