Stanley Gibbons

IstilllikeZARcoins

Hi All,

I am a Darkside coin collector and live on the Darkside coin thread ( although lately due to time constrictions I have been sleeping on that thread ).

I have a question about stamps, or rather, about a company that sells stamps.

There is a company in the UK called Stanley Gibbons, although they have an American representative as well.

Has anyone here dealt with this company ?

If so could you please let me know about your experience with them ?

Many thanks,

Zar

Stanley Gibbons Linky Pooh

covers

What would you like to know? My understanding is that their recently advertised "investment scheme" is likely to be viewed harshly by American authorities. The company has huge ups and downs over the years. A client of mine, Marc Haas, sold them a collection ca. 1979 for $13m that buried them in the US for a number of years. The ownership has changed a few times since then.

IstilllikeZARcoins

Thanks covers - I was actually asking for a friend.

I will ask what specific questions he would like to know and will get back to you.

Edit: Why would the American Authorities think badly of their investment scheme ? And why were they 'buried' by purchasing your clients stamps ? Sorry for the probably obvious questions but I am trying to get up to speed.

covers

I am not an attorney. However, I believe that guaranteed returns on these types of investment schemes (using stamps as the asset) are illegal in the US while legal in the UK. In the past, similar schemes have been blown up as "Ponzi" schemes (see AFINSA news).

The Haas collection that was purchased by Gibbons had been valued by others before it was sold. They uniformly valued at about half of the price Gibbons paid. Haas later re-purchased about $2m of the material and made money when I eventually sold it for him. Gibbons had a New York City office in the early 1980's and ran a few sales here. The costs ate them up and it was abandoned around 1985.

IstilllikeZARcoins

Thanks for that information covers - I have been looking into Stanley Gibbons myself over the last hour or so and noticed that Steve Sjuggerud is now a director. What are your thoughts of him and how do you think he will handle Stanley Gibbons' affairs in the US market ?

I'll get back to you once I hear from my friend.

Zar

covers

Sorry, I have never heard of Steve Sjuggerud. In the past several years Gibbons UK has been selling high value Great Britain classic items into "investment" packages. Not a business model I care for really ..... but that is just my opinion.

IstilllikeZARcoins

Hi Richard,

I've just had a mail from my friend and it's more of a business angle that he is looking at. Of course any help is appreciated.

I quote 'It would be helpful to just have some feedback as to how competitive it is in the States compared with the UK for instance (margins etc) and whether they consider SGI have the strength of brand in the US to leverage a position or do they think an acquisition would be necessary to make an impact?'

Thanks,

Zar

covers

I get paid for that kind of info !!!!!

IstilllikeZARcoins

OK thanks anyway. I am not sure if he wants to pay for any info but I'll direct him to your website just in case.

Thanks for your efforts.

edueku

Interesting...................................