DEALERS AND COLLECTORS JUST DO NOT “GET IT”
I have been around for over 40 years and have seen all the scams and phony marketing possible. In today’s internet driven coin market, I just can’t believe what I am seeing people try and create these days.
First, you have to know what the heck you are doing to really establish a meaningful reputation. Many of today’s dealers do NOT have a real clue. Most can NOT grade raw coins. They just have to look at holder and guess if they possibly can get pluses. I stand by that comment. You also can not recklessly throw money around and think you have created a brand. Goes back to knowing what you are doing. Last, you can’t just have slick marketing/website that suckers people in. That is no brand.
If there ever is such a thing as a “brand” it lies in a few collections and with a handful of dealers (and I mean like 3 or 4). I use the word BRAND vs pedigree because I see both collectors and dealers thinking they can just go out and build them with out having any real abilities.
There are 3 collections who’s coins I will ALWAYS buy sightUNSEEN.:
Stewart Blay all coins
Jay Brahin saints
I will always look at any Oliver Jung coin-but he pushed a little too hard to buy the lesser coins-not his dealers fault!
Those collectors above are true “brand” names. They ALL knew how to grade. They ALL had great coins every time. Most of their coins were HIGH END for the grade. Then you have Eliasberg who did NOT know how to grade. If he did not buy a major a collection with many top coins, he’d have so/so stuff and his name would not be so desirable. All he did was fill holes. When filling holes you will never maintain quality. Same with a couple of other big named collections.
My biz partner Bruce is another SUPERSTAR BRAND-but I do not have to buy his coins. That man only wants the ABSOLUTE FINEST. He will not buy a holder. If I was a gazillionare, I would buy every one of his coins sightUNSEEN. I’ll mention the Cat too. Right now Black Cat is just a kitten. But in a few years, his BRAND will be among the great ones. We like to display his coins, so you’ll see the proof.
TODAY MR SIMPSON IS THE NAME “BRAND” OF THIS GENERATIONS COLLECTORS-PERIOD
Today, the ONLY MAJOR BRAND there is-Simpson (and Tyrannt for Ancient). Any other major “brand” is a joke (ugh save for the unknown guy in CT with all the 10’s and 20’s and the J-1776, not sure what he really has)!
I was Mr Simpsons CAC all the years he been buying. And by the way, he just bought the $20 1850 PCGS MS64 CAC out of my sale and a $10 1907 WE PCGS MS67 CAC. He is back!
He actually to my shock, knows how to grade. This was more then proven when I had to get some coins he bought raw years ago at a Stacks sale from the late 70’s-that all graded high including an TD $1 1881 PCGS PR67 Cameo CAC! For sure that kept me on my toes. His expectations were for me to find the FINEST and prettiest coins that exist. I did because I know what the heck I am doing.
From 2001-2015 we bought the best of the best coins available for Mr Simspon until he got sidelined by a divorce. We’d pass on coins (like the Morse $20 1927D PCGS MS67 ) if we did not like them even because of the tiniest spot. But if we loved them, we’d pay what it took-$10 1920S PCGS MS67+ CAC $1,750,000.00 or the Pogue $1 1794 PCGS MS66+ $5,000,000.00.
We even sold him a double row box of GEM DMPL Morgans including an 1885CC PCGS MS67DMPL that we would be shocked if it did not sticker. For years now GH and I have been offering him everything to buy that box-sightUNSEEN.
Other out there are using slick marketing and hype to create a name, I know I can say, the Bob Simpson Collection IS one the top collections EVER. And if we talk about PURE QUALITY-there is NO collection being assembled today that can come close. I forgot what super coins he has. While checking to see if he needs any Bust 10C, I forgot we sold him the 10C 1796 PCGS MS67 CAC and the 10C 1800 PCGS MS66 CAC. Another coin I totally forgot: H.10 1801 PCGS MS66+ (down graded from an NGC MS67). WOW! Again, he does NOT own holders, he owns real coins. The other collectors have wonder coins-the type we wonder what they are!
Over the years when ever I have fresh coins to sell, I can go any where I pick to give first shot. The biggest and best crackers all want at the coins. Dan Ratner, one of the best graders ever offered us several times $1,000,000.00 for Mr Simpsons $20 1907 Proof 68 CAC. Another dealer has offered us substantial money for huge copper coin we placed with another collector. The majority of our customers make more money than anyone else’s because of the great coins they have.
Legend Numismatics and to a much lesser degree, Legend Rare Coin Auctions are BOTH real “brands”. You won’t see us buying cloroxed coins cheap to fill holes or buying bad coins because we do not know better. My self and George only have a combined successful 75 years of working the bourse floors. We know how to grade! Dealers know if they get a great coin, bring it to us. That is what it all comes back too-knowing how to grade (sorry I can not say that enough).
Last, the reason why we are so bullish on CAC-it is protection for the collectors. Why today would a dealer not have sent a coin to CAC when the bean will net so much more money? Love the fake tone guys who still call CAC a fad. ugh huh. At least with a CAC coin, you know it has NOT been doctored. Its been such a savior for so many.
WHY THE RANT?
I am fed up. I do not like people making a mockery of reality because of ego’s. I want to remind people that because a collector like Mr Simpson was out of sight for a while, does not mean his collection is any less important. I worked so hard to get him the top spot in numismatic history and I will stand my ground. I think the people who are trying to steal his thunder are disrespectful and harmful. They are not only fooling themselves, but they are sending the wrong messages to the masses. Folks, you can spend all the money you want with any genius dealer, but if they can’t grade, the plastic always comes back to bite you. This does not matter if you are a dealer or collector. Do NOT be fooled!
The “BRANDS” I have built I really should not have feel I need to defend. I’ve just read and heard so much I had to say something.
A SIDE NOTE
You do not have to be a big spender to buy great coins. There are a handful of good coin dealers around. Buy ONLY PCGS CAC. That is part of the battle right there. Do not be afraid to work with a dealer. A good dealer will talk to you and work with you as almost a partner. Sometimes being told NO is the best action you can ever take.
Rare coins to me are still wicked cool to own. I mean to hold a coin-like the 1C 1794 H 95 PCGS MS67 BN CAC that is 225 years old and is perfect? I looked at that coin for hours. Makes me feel like I did 50 years ago (yes you read that right) when I thought a common date DMPL Morgan with killer mirrors for $15.00 that was gods gift…..I looked at that coin all night and all weekend I remember.
I can be reached for comments: firstname.lastname@example.org