My gloves are off. I have had enough. This week the disgusting false information that flowed from the PCGS chatroom was above decency. Sorry, I get so angry when I see something wrong and I will call it out. I’m sure I’ll get flamed, cursed and abused by a group, but its okay. If I can save one person from falling prey to the opportunists and wannabes on a chatroom, I’ve done my job. The amount of garbage mis information postings I have seen recently are at an all time high. PCGS won’t shut the place down, the least they should do-is monitor it more carefully. That could make a huge amount of noise makers slither away.
First, allow myself to offer my credentials (I ‘m sure the flamers will say chest thumping):
I have built more top collections and handled more classic rarities then ANY dealer alive today. I have a deep love for coins. It does NOT have to be an expensive coin to light me up (we just had a $1 1880S PCGS MS67+ CAC in that I should have kept). I have handled as many widget type coins as any one (more then half of what Legend deals in are coins UNDER $10,000.00). I’ve been a full time coin dealer sine 1977 (yeah, I am that old). My two companies, Legend Numismatics and Legend Rare Coin Auctions combined will sell at least $60 million in choice coins this year. I probably can say I have bought and sold over 1 BILLION dollars in coins in my career. I do EVERY major show and auction. EVERY major dealer knows me and I generally have great respect and relationships with them. I am notorious on fighting about consumer protection-especially fighting the coin docs. I have stood up to PCGS about issues, and Salzberg over at NGC can’t handle the truths I say, so they banned me as a dealer (boo hoo). I give lots of money to numismatic causes. I go out of my way to protect ANY size collector. The horror stories I can tell you are endless. I don’t write books, I am not a scholar, and I am proudly NOT a PNG member. I am NOT a show boater or a self promoter. Last, I am certainly not someone that the majority of people on these chat rooms think they know.
This past week a grumpy old dealer (he calls himself a dealer) had the gaul to say Legend overpriced their coins. He claims he looked at a coin we had a PCGS CAC piece), then waddled over to another dealer and bought a NGC NON CAC piece for 30% less and publically twisted the story. This guys name Bill Jones. For those of you who think he is guru, think again. This guy has no sense of reality and in my opinion, knows NOTHING. He really seems to thrive on constantly attacking Legend and CAC. First off, the firm he bought his coin from is a place where every thing is either tried for crossover or a CAC bean-they have one of sharpest graders on their staff who looks for these kinds of arbitrage. How could this one coin have slipped though? Then he challenges my partner to show an IMAGE. We all know you can NOT grade coins from images. This guy is nothing but full of himself and bull. People , this guy offers NOTHING but fake news and misinformation. I have never seen anything credible out of his mouth. Further, I know many dealers for as long as 40 years (YIKES), no one knows this guy. The coin community is a small world. Has he contributed even a single coin to any major collection? Has he even built any collections? If so, how did the collectors do when they sold? What the hell did he ever trade in? Sure, he could be a small dealer, but he certainly does not know as much as the dealers who live and breathe coins and travel the circuit every day. So here is wannabe who won’t accept CAC or Legend (poor little guy vs big successful dealer) and thinks he is guru on a platform to innocent collectors. And people are stupid enough to listen to him with all the out right warning bells he gives off every time he bashes PCGS or CAC? Yeah, go out and pay less and buy crappy coins and think they are worth the same as a PCGS CAC coin. I don’t want to hear whining when its time to take your loss. I can’t wait to see what his “wonder” collection he is assembling sells for . Wonder if he will blame me or CAC for the losses he richly deserves.
Yeah, Bill Jones knows Legend and knows more then me about coins and the coin market-NOT!!!! Please people, unless you attend every major show and sit w/the market makers, you do not know coins as well as you think you do. Listening to this guy won’t tell you the realities of today’s grading or market place. I would love him to take all his non CAC coins in to be beaned and how many actually would. My bet 0!
MISINFORMATION-THE ULTIMATE SELF PROMOTER
Another guy I am sick of-this self promoting genius Analyst. This guy trumpets himself like he knows everything. Notice everything he writes always has his self promotion involved? He really disgusted me when he recently popped up on the thread where Delloy Hansen (the new Eliasberg) popped up. He just had to act like he knew everything. Let me tell you something folks, his information especially about coin grading has been so wrong and slanted so badly the majority of main stream big dealers will NOT talk to him. This guy has NEVER bought or sold a coin. I highly doubt he ever submitted anything to any service. The sharpest collector in the world Stewart Blay regularly challenges him on his fake news and his known lack of skills all the time because he knows it is bad for people to read. I mean who the hell is Analyst to insinuate the $1 70S AU 53 has been cleaned or was dreck (he whimped out by saying well JA must have liked it)? And then he tries to tell my partner Bruce Morelan (who forgot more then this bird will ever know) about MS Seated Dollars he is wrong? I remember when the Missouri Cabinet of Half Cents was sold. He wrote negatively about a coin or two I bought because the amateurs who represented someone who was above everyone else were the only people who would talk to him. Of course they had to protect the crap they bought for their buddy. Those are articles were as slanted as slanted can be. His main publisher cut his articles down to a minimum because too many dealers complained about his nonsense. Think he is a nice guy? The major auction companies do not like him. He has a bad and very RUDE habit of showing up at the end of a Saturday at lot viewing and making the poor people stay. Yet he buys NOTHING. I witnessed this at least 2X myself. Let him come to my auction, I have instructed my staff not to even allow him a seat.
I know collectors want a social life in coins badly. Since shows are dwindling and more people are on line, chatrooms are the big time new meeting places. But people don’t know or fail to realize how pathetic most of these gurus are. NONE have real businesses. NONE. They troll the chat rooms because its the only place they could look important (like Bill Jones or Analyst).
Here is the type of comment made by a collector on a chatroom that is WRONG: “If you buy at a show, most dealers want full retail, more if the coin is very nice for the grade, unless they feel they want to unload it”. Dude, you have been dealing with the wrong dealers. A dirty little secret to people who do know, at shows the margins between wholesale and retail are greatly blurred. Shows are where you can probably get your best deals. There really is no such thing as being priced at full retail anymore. I know, I can walk over to a dealer and get quoted x on a coin, then a collector can go over and be quoted 5% more and end up paying what I would have! The shrinking audience at shows have made dealers far more competitve. See what I mean? Too much false news and mis-information. Study or chat with the people who are NOT trying to show off their knowledge. They generally are the ones who do know things. I know of MANY great people on the chatrooms. But the few bad apples just make me seethe.
I’m sure the Legend boo birds will sock me for all this. Sorry, I stand by my comments. As usual I am the only major dealer to put these thoughts in writing.
You can email me your comments: email@example.com. Yet another WRONG fact about me, I answer EVERY email I get as does Legend (love when the chat room chimps try to say we do not).