BOWERS AND MERENA AUCTIONS TO JOIN FORCES WITH STACK’S TO CREATE STACK’S-BOWERS NUMISMATICS

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.

Greg Roberts, president and chief executive officer of Spectrum Group (SGI), commented, “We believe that this combination, once consummated, will create a major player in the coin industry. Stack’s had over $65 million in aggregate sales in 2010 and between them, the two companies have handled many of the significant coin collections that have sold at public auction, including the Eliasberg Sales, the Norweb Sales and the Ford Collections.”

Bowers and Merena Auctions president Chris Napolitano, who will serve as president of the combined company, said, “I am honored and excited to lead this new venture, which combines two of the leading names in our industry. We consider Stack’s to be the crown jewel of coin auction houses and with this partnership, we have assembled a numismatic team that we believe to be unequaled in the industry. We look forward to continuing and expanding Stack’s auction and retail locations in mid-town Manhattan, which serve not only the greater New York metropolitan area but also the entire east coast.”

Added Mr. Roberts, “A significant factor for SGI in pursuing this merger was the opportunity to partner with Charles, Joel and Harold Anderson and the rest of the Anderson family, who own a controlling interest in Stacks. For years I have enjoyed a strong personal and professional relationship with the Andersons and now look forward to a long-lasting association with the family through Stack’s-Bowers Numismatics. We intend to continue the long tradition that the Stack family developed over many decades in New York. For years it has been a goal of ours to have a presence in NYC. With this partnership, we will achieve that goal at one of the most famous and prestigious addresses in the numismatics industry: 123 West 57th Street, New York, New York.”

Joel Anderson commented, “We are looking forward with great enthusiasm to the successful combination of these two fine companies. Both have rich histories of service with integrity to the numismatic community and together their combined resources and talents will bring new levels of service and value to the numismatic market. In addition, Charles, Harold and I have assembled some nice collections and we are pleased that Stack’s-Bowers Numismatics will be there for us when the time comes to sell.” (more…)

Nearly 1,700 lots to cross the auction block in Tampa, FL immediately prior to  FUN

Bowers and Merena, one of the world’s preeminent auctioneers for rare coins and currency, will conduct the January Rarities Sale as its first event of 2011. The single-session sale on Jan. 4 at the Grand Hyatt Tampa Bay will offer nearly 1,700 lots of rare and desirable United State and Colonial-era coinage.

“It is and honor and thrill to start my career with Bowers and Merena with such an important sale,” said Chris Napolitano, President of Bowers and Merena. “Our January 2011 Rarities Sale will be presenting a wide selection of United States, Colonial and Territorial coins which range from affordable collector coins to world-renowned absolute and condition pieces.”

Headlining the sale is Part II of the Malibu Collection. “The first part of this impressive Malibu Collection helped propel our Official Auction of the November Whitman Coin & Collectible Baltimore Expo to the forefront among numismatic events of 2010. Part II promises the same rarity, quality and eye appeal that we have come to expect from the collection,” said Napolitano.

Highlights from the Malibu Collection include lot 855, one of the finest-known 1866 Motto Seated Dollars in PCGS Secure Proof-66 Deep Cameo, as well as lot 594, an important strike and condition rarity 1918-S Standing Liberty Quarter certified MS-67 Full Head by NGC with a combined pop of just 2/0 by PCGS and NGC.

“From U.S. minors to patterns, bidders will also enjoy Part II of the G. Edward Reahl, Jr. M.D. Collection and the Abingdon Collection,” said Napolitano.

Additional highlights in the sale include:

* Lot 48, 1883 Hawaii Eighth Dollar, Proof-62 Cameo (PCGS), Secure Holder
* Lot 59, Undated (Circa 1616) Sommer Islands Twopence, BMA Type I, Small Star Below Hog, AG-3 (PCGS)
* Lot 73, 1776 Continental Dollar, CURENCY, Pewter, MS-63 (NGC)
* Lot 302, 1924-S Buffalo Nickel, MS-66 (NGC)
* Lot 304, 1925-D Buffalo Nickel, MS-66 (PCGS), Secure Holder (more…)

1834 and 1846 proof sets from private collection released as part of Heritage’s Jan. 6 FUN Platinum Night offerings in Tampa, FL

Two rare early proof sets and a remarkable set of six pattern coins associated with the famous “Stella” coinage experiment are important collective highlights of Heritage’s Tampa FUN Platinum Night U.S. Coin Auction, Thursday, Jan. 6, 2011.

“All three of these sets have remained intact from the time of issue,” said Greg Rohan, President of Heritage. “It’s amazing to be able to see an 1834 proof set all at once, or the three coins of an 1846 proof gold set, or a six-coin set of Stella patterns. We understand that many collectors are interested in particular coins rather than sets, so we’ve chosen to offer the pieces from these sets as individual lots. It wouldn’t surprise me, though, if a single buyer were to keep one of the sets together.”

The earliest set is an 1834 eight-piece proof set, half cent through half eagle, with grades ranging from PR63 to PR65 NGC. While this proof set does not include the denominations included in diplomatic presentation sets of that year – namely the legendary 1804-dated silver dollar and gold eagle – it does include eight denominations, all extremely rare: the half cent, large cent, half dime, dime, quarter, half dollar, quarter eagle, and half eagle.

“Perhaps four or five of these non-diplomatic sets were issued,” said Rohan. “All the rest were broken up long ago. Depending on who buys these coins, this may literally be the last chance for collectors to bid on one of the non-diplomatic sets while it’s still intact.”

The second set, smaller but just as important in its own fashion, is a three-piece gold proof set from 1846. It contains the three gold denominations struck that year, the quarter eagle, half eagle, and eagle, and each coin is graded PR64 Cameo by NGC. The three-coin gold set was part of a larger 10-coin complete proof set that was last offered as part of the legendary John Jay Pittman Collection. The coins trace their origin all the way back to an 1892 sale by Ed Frossard.

“Today’s collectors have a chance to make these incredibly rare 1846 gold coins part of their collections,” said Rohan. “The half eagle, for example, is the only proof specimen not in a museum collection. We hope the winning bidders enjoy the same pride of ownership that Pittman displayed.”

Chronologically last, but of similarly momentous importance, is a set of five pattern pieces dated 1879 and 1880 and related to the famous proposed international trade coin, the four dollar or “Stella.” The first five coins, all very rare or extremely rare, were made of copper and later gilt. They grade PR62 to PR64 and include a Judd-1636 1879 Flowing Hair four dollar, a Judd-1639 1879 Coiled Hair four dollar, a Judd-1658 1880 Flowing Hair four dollar, a Judd-1661 1880 Coiled Hair four dollar, and the legendary Judd-1644 1879 quintuple stella – a trade-coin spin on the existing double eagle. (more…)