Stacks.......... does anyone here deal with them?

Bustman

I have never seen anyone on the forum mention Stacks in NYC. It is one of the oldest, if not the oldest coin shop. I have been in there a few times, mostly to purchase numismatic books but not coins. I got the sense when I was in there that it is an "old boys club" type of place, not all that interested in young numismatists ( or in my case, relatively young), and I was in there inquiring about a 10K plus coin. The place is very old school in both the way it looks and operates, a real throw back in time. For the most part they sell & auction raw coins, very rarely anything slabbed. I was told their type of client prefers raw coins and had no interest in third party grading. In my experience the nicest most helpful gentleman there was the security guard. This thread is not intended to flame Stacks. I have a certain amount of respect for any business that can stand the test of time! Just curious as to what others think of the place?

ponzi187

I live in NYC and went in there once, very intimidating place...

Like a bank from the Al Capone Days...

I felt too underdressed to even inquire about anything. I think I had 1/2 ounce gold eagles in mind when I walked in and my 2 to 3 hundred in my pocket shrunk and hid...

I'll go back in like 10 years.

RYK

26 years ago my father bought me a quarter eagle from there...it does not appear that the company has changed one bit since then.

Julian

As you all know, Stack's is located on 57th street in Manhattan, a very expensive location, in a very expensive city. I am sure that they, like all dealers handle slabs, but they do not believe in the absolute value of a # in describing material. They mostly deal with more sophisticated collectors, but probably do not appeal to the collectors who only trust the services for the evaluation of their collection. Because of the location, their business does cannot serve the beginning young collector, with circulated modern coins, and cannot be considered the same as a local store. Having a store in suburban Washington, DC, I have grown to appreciate what can and cannot be done, depending on costs. The bottom line is that the more sophisticated that the collection becomes, the more that dealers like Stack's will become important to it.

Singapore

Perform this little test:

Pick up Stack's Americana catalog from January 2003 (or 2002, 2001, 2000 etc.) and take a look at it. Read the lot descriptions.

Now pick up one of Heritage's or Superior's or Goldberg's signficant catalogs from the same period and look at them carefully.

My perspective is that Stack's is in a different business, catering more to experienced and knowledgeable numismatists and reveling in the 'history' of it all. They are also a bunch of stuffed shirts as you say, peering down their noses at anybody with the audacity to collect registry quality 1998 nickels.

I've seen people in here lambaste Stack's for overgrading raw coins which probably means that ultimately PCGS or NGC didn't agree with Stack's description. It is usually not mentioned that a high percentage of all colonials, early copper or early type coins sold by Stack's raw probably get graded at least one notch higher by the services when slabbed.

But don't get me wrong - if you know what you are looking at you can buy very nice or lousy coins from any of these auction houses and over or underpay for anything.

I like Stack's and what they represent. Particularly now that B&M - who I think was at one time like Stacks but in recent years migrated to the untenable middle ground position between Stack's and the others - is in disarray.

I don't believe I answered your question (I'm not sure I remember what it was), but I sure did enjoy typing this.

UncleJoe

I went to Stacks in December (visiting my mother).

I was born and raised in the city in the 50's- 70's. This place is the same now as it was then. It caters to a (IMO) very specific type of collector.

I thought the "salesman"(SM) behind the counter was going to swallow his teeth when I asked: " Do you have any low-rent buffalo nickels for sale?"

SM: "What?" Me: "I'm looking for early buffalo nickels in Fine to Very Fine condition"
SM: "Let me see what I have" (He goes to what looks like the old library card catalogs, a big wooden structure with many drawers).
SM: "Here's what I have" (It is a 13-D T2 marked VF but does not have a full horn)
Me: "Anything else?" SM: "We just recently purchased a complete collection but it hasn't been catalogued yet. How long will you be in town?"
Me: " I leave tomorrow but thanks anyway."

Oh well, I tried.

Joe.

ANACONDA

Stacks.....i've heard of them. They produce these thin catalogs offering mostly raw coins. I think Heritage has just about put them (and everyone else) outta business.

adrian

Higashiyama

Speaking of great catalogues, one of the most memorable I have seen was for the sale of Larry Stack's collection of Ancient British hammered coins, which was auctioned by Sotheby's in London in 1999. It is obvious from the catalogue that Larry is a meticulous collector himself.

jom

John Burnham from Stacks is always nice to me when I see him at the Long Beach show (if he comes). Other than him, I've never met anyone from their table that I'd call friendly.

In any case, it's too bad more people at Stacks can't be like John because he can give you a convincing arguement about the "downside" slab market and not be condecenting. They do cater to a different type of collector....one that seems to going extinct unfortunately.

jom

Nysoto

I purchased four draped bust halves from Stack's auctions over the past year, all difficult varieties to locate, I was satisfied with all of the coins. They often overgrade raw coins (although my "1803 XF" I would grade as choice XF45) - check their prices realized and bid accordingly. Buying raw coins involves more risk, but I purchased these coins for less than if they had been slabbed.

I had no problems in dealing with Stack's, as long as everyone else is avoiding them I will continue to find good deals there.

09sVDB

Some time ago, while I was cataloguing a neighbors collection, I came across and old Stacks advertisment from the 40's. I contacted them via email and asked them if they would be interested in recieving it. They replied that they were always interested in stuff from their past so I mailed it to them. This is the only contact I have ever had with them.

Higashiyama

Stack's will definitely devote a high level of energy to work with a long-term customer.

On average, I believe grading is good, with some notable exceptions. Compared to PCGS, Stack's is probably (a) a bit less consistent, (b) more likely to let a problem coin through, and (c) places a somewhat higher emphasis on eye appeal. A reasonable buyer should have no trouble returning sight unseen purchases.

Thin as their catalogues may be, they contain some really cool coins! As a risk taker, I enjoy the thrill of buying sight unseen raw coins from long distance, but much appreciate the recent assistance from board members in looking over coins prior to purchase!

Others have mentioned the classic image they project, burnished with a tendancy to sell coins raw.

Perhaps more of substance, if your focus is ancient Roman, Greek, Hebrew coins, etc, and you want to work with a dealer with good connections worldwide, Stack's is a good place to go.

ldhair

I was a Stack's customer for many years. The day after an auction I would call to see how I did. The attitude time after time was more than I cared to deal with. When a company can't at least be polite it's time to look at it's self in the mirror.

Bustman

I wonder how much longer they can last if they do not try to adapt at all to the "new" collector/ investor? It would be a shame to loose an institution like this, very much like what we are witnessing currently with David Bowers.

BigD5

I never hear of anyone talking about a Stack's sale. With such huge price jumps between grades nowadays, I'm not sure how many collectors are willing to take a risk with Stacks grading of their raw offerings.

RYK

Frankly, I am amazed that they can stay in business. Their auctions usually provide no picture of the coin, except for the exceptionally rare or desirable ones. It is essentailly a sight-unseen, done-deal proposition in which the buyer has no recourse. We all know where that leads!