Options
Dec. 27, 2004 Forbes Article
Casabrown
Posts: 2,126 ✭✭✭
Hello Folks and Happy Holidays,
Generally, I do not have a lot to offer to you experts, but on the way home today from an out of town trip I read a very interesting (or some might say sensational) article in Forbes magazine related to the Heritage Auctions founder. While some of the facts may be disputed, it raised some interesting points about the relationships between collectors, dealers, the third party grading services, and the public's trust.
I have no axe to grind and some of my closest friends over these last few years fall into one or more of the above categories. Yet, on the other hand, analogous types of relationships in other professions have been the subject of lengthy discussions about their appropriateness. As a member of an ethics committee in one of the societies in my profession, the Forbes article stimulated me to wonder about this hobby that I have developed a fair amount of passion (and spent many $). Before I ask some very difficult questions from members of the Board, please remember that I am a tenderfoot and may not fully appreciate the etiquette of what to ask and what should not be asked on an open Board forum.
First, given the inherent advantages that the general population of dealers has with respect to coin grading, compared with the general population of collectors, would you say that the third party grading services has modified this relationship?
Is there an inherent or perceived conflict when the best (or better) graders, who work for third party grading services, are also dealers?
Is there an inherent or perceived conflict when persons with financial interests in third party grading services are also dealers?
According to the Forbes article, the FTC has had a history (albeit infrequent) of investigating matters relating to our hobby. What can we do as a hobby to avoid governmental intrusion that often, while well-intentioned, may lead to other undesirable consequences?
Again, please forgive me if I have violated the manners of how Board members should behave. If there are no responses, I will interpret this to mean that my comments and questions are as naive as my knowledge of numismatics. Thanks for reading this thread.
All the Best for 2005,
Casabrown
Generally, I do not have a lot to offer to you experts, but on the way home today from an out of town trip I read a very interesting (or some might say sensational) article in Forbes magazine related to the Heritage Auctions founder. While some of the facts may be disputed, it raised some interesting points about the relationships between collectors, dealers, the third party grading services, and the public's trust.
I have no axe to grind and some of my closest friends over these last few years fall into one or more of the above categories. Yet, on the other hand, analogous types of relationships in other professions have been the subject of lengthy discussions about their appropriateness. As a member of an ethics committee in one of the societies in my profession, the Forbes article stimulated me to wonder about this hobby that I have developed a fair amount of passion (and spent many $). Before I ask some very difficult questions from members of the Board, please remember that I am a tenderfoot and may not fully appreciate the etiquette of what to ask and what should not be asked on an open Board forum.
First, given the inherent advantages that the general population of dealers has with respect to coin grading, compared with the general population of collectors, would you say that the third party grading services has modified this relationship?
Is there an inherent or perceived conflict when the best (or better) graders, who work for third party grading services, are also dealers?
Is there an inherent or perceived conflict when persons with financial interests in third party grading services are also dealers?
According to the Forbes article, the FTC has had a history (albeit infrequent) of investigating matters relating to our hobby. What can we do as a hobby to avoid governmental intrusion that often, while well-intentioned, may lead to other undesirable consequences?
Again, please forgive me if I have violated the manners of how Board members should behave. If there are no responses, I will interpret this to mean that my comments and questions are as naive as my knowledge of numismatics. Thanks for reading this thread.
All the Best for 2005,
Casabrown
0
Comments
here
and
here