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Larry Stack Leaves Stack's

CoinosaurusCoinosaurus Posts: 9,472 ✭✭✭✭✭
The E-Sylum just reported--

"Independent sources in a position to know have confirmed his exit. One E-Sylum reader I contacted writes:
Larry is Harvey Stack's son, Susan Stack's brother, nephew to the late Norman and Ben and grandson of founders Morton & Joseph. For the past 10 years or more, Larry was the controlling power at Stack's and was singularly responsible for bringing John J. Ford's estate to auction based on his longstanding friendship with Ford and Stack's relationship with researcher/cataloguer Mike Hodder, w ho was also close with Ford.

Larry adopted Ford's and Bowers' belief and practice in issuing informative, high quality auction catalogues which proved to be invaluable references years after the auctions occurred."

Comments

  • mrearlygoldmrearlygold Posts: 17,858 ✭✭✭
  • farthingfarthing Posts: 3,349 ✭✭✭
    WOW!
    R.I.P. Wayne, Brad
    Collecting:
    Conder tokens
    19th & 20th Century coins from Great Britain and the Realm
  • firstmintfirstmint Posts: 1,179
    It will be interesting to find out the reasons that are eventually made public.
    PM me if you are looking for U.S. auction catalogs
  • TwoSides2aCoinTwoSides2aCoin Posts: 42,333 ✭✭✭✭✭
    At least he gets to keep the name image

  • PerryHallPerryHall Posts: 41,178 ✭✭✭✭✭
    Maybe he's retiring? It will be interesting to see if he starts a new company and competes with his old company.
  • LongacreLongacre Posts: 16,715 ✭✭✭
    Who owns that firm, anyhow?
    Always took candy from strangers
    Didn't wanna get me no trade
    Never want to be like papa
    Working for the boss every night and day
    --"Happy", by the Rolling Stones (1972)
  • RichieURichRichieURich Posts: 8,024 ✭✭✭✭
    WOW! That's big news!

    An authorized PCGS dealer, and a contributor to the Red Book.

  • orevilleoreville Posts: 11,369 ✭✭✭✭✭
    A Collectors Universe poster since 1997!
  • imageanderson brothers
  • ElcontadorElcontador Posts: 6,992 ✭✭✭✭✭
    Wounder what Larry's "best friend," Stewart, thinks about this?
    "Vou invadir o Nordeste,
    "Seu cabra da peste,
    "Sou Mangueira......."
  • CoinosaurusCoinosaurus Posts: 9,472 ✭✭✭✭✭


    << <i>Who owns that firm, anyhow? >>



    Yes, that is precisely the question.

    Usually in public companies the CEO only leaves when they are retiring or when they have lost the confidence of the board of directors.
  • Billet7Billet7 Posts: 4,940 ✭✭✭
    So perhaps he will get on board with Bowers and Merena, I wonder how QDB would feel about that?
  • DMWJRDMWJR Posts: 5,870 ✭✭✭✭✭
    hmmm ... if Stack would take over Bowers, then Stack will be at Bowers, and Bowers will be at Stack's, right? Ingenious!!

    Doug
    The Ultimate Flying Eagles
    https://www.pcgs.com/setregistry/showcase/3203
  • BuffQuarterBuffQuarter Posts: 148 ✭✭
    Didn't QDB get fired from Bowers and Merena? Looks like Heritage and Goldberg's are the only auction company out there that have the original namesake's working at their respective companies.
  • Billet7Billet7 Posts: 4,940 ✭✭✭


    << <i>hmmm ... if Stack would take over Bowers, then Stack will be at Bowers, and Bowers will be at Stack's, right? Ingenious!! >>



    Ironic if nothing else.
  • LongacreLongacre Posts: 16,715 ✭✭✭
    Maybe the old ANR will get ressurected?
    Always took candy from strangers
    Didn't wanna get me no trade
    Never want to be like papa
    Working for the boss every night and day
    --"Happy", by the Rolling Stones (1972)
  • saintgurusaintguru Posts: 10,211 ✭✭✭
    What NOT a surprise.

    There was a very uncomfortable partnership there, to put it mildly.

    And would I be the first to say that the quality and integrity of their auctions has become highly suspect lately? Well, they have. image
    image
  • PerryHallPerryHall Posts: 41,178 ✭✭✭✭✭


    << <i>And would I be the first to say that the quality and integrity of their auctions has become highly suspect lately? Well, they have. image >>



    Can you give us some details or perhaps some examples?
  • saintgurusaintguru Posts: 10,211 ✭✭✭
    No.

    It's my opinion and I'll leave it at that. I'm not going to bury anyone and I am certainly not going to create a catalyst for a 100+ post thread, so there! image
    image
  • FrankcoinsFrankcoins Posts: 4,584 ✭✭✭


    << <i>Didn't QDB get fired from Bowers and Merena? Looks like Heritage and Goldberg's are the only auction company out there that have the original namesake's working at their respective companies. >>



    QDB's three companies were bought by Collectors Universe for CLCT stock that soon lost 90% of its value. Then the founder was forced out. Then the businesses were sold off at a loss. Then a press release was issued that CLCT was going to stick with what they know best, grading and authenticating coins and collectibles. Then they bought a diamond business. Then they sold it at a loss. Then a press release was issued that CLCT was going to stick with what they know best, grading and authenticating coins and collectibles. Then they paid the CEO of CLCT $400,000 so he would decide to want to spend more time with his family....

    It's how Wall Street creates value....

    It's really sad that Wall Street shows no interest in niche companies that do their jobs better than anyone else, are the leaders in the field, and provide a steady stream of income. There is always the pressure to show incredible gains quarter to quarter. So it's "buy other companies or be bought out" and/or expanding into other areas where the management does not have the same experience as with the original business.
    Frank Provasek - PCGS Authorized Dealer, Life Member ANA, Member TNA. www.frankcoins.com
  • PerryHallPerryHall Posts: 41,178 ✭✭✭✭✭


    << <i>No.

    It's my opinion and I'll leave it at that. I'm not going to bury anyone and I am certainly not going to create a catalyst for a 100+ post thread, so there! image >>



    O.K.....I get it.....The old hit and run.
  • tradedollarnuttradedollarnut Posts: 19,981 ✭✭✭✭✭


    << <i>

    << <i>Didn't QDB get fired from Bowers and Merena? Looks like Heritage and Goldberg's are the only auction company out there that have the original namesake's working at their respective companies. >>



    QDB's three companies were bought by Collectors Universe for CLCT stock that soon lost 90% of its value. Then the founder was forced out. Then the businesses were sold off at a loss. Then a press release was issued that CLCT was going to stick with what they know best, grading and authenticating coins and collectibles. Then they bought a diamond business. Then they sold it at a loss. Then a press release was issued that CLCT was going to stick with what they know best, grading and authenticating coins and collectibles. Then they paid the CEO of CLCT $400,000 so he would decide to want to spend more time with his family....

    It's how Wall Street creates value.... >>



    Somewhere in there was a secondary offering. image
  • dorkkarldorkkarl Posts: 12,738 ✭✭✭
    been in the works for awhile

    K S
  • saintgurusaintguru Posts: 10,211 ✭✭✭


    << <i>

    << <i>No.

    It's my opinion and I'll leave it at that. I'm not going to bury anyone and I am certainly not going to create a catalyst for a 100+ post thread, so there! image >>



    O.K.....I get it.....The old hit and run. >>



    No. The old "my educated opinion" and no further comment. image
    image
  • TwoSides2aCoinTwoSides2aCoin Posts: 42,333 ✭✭✭✭✭
    Is there any truth to the rumor that he's moving to Costa Rica ?
  • FrankcoinsFrankcoins Posts: 4,584 ✭✭✭
    Gotta piss off Larry when Daddy issues a press release saying


    Welcome to Stack's, a team of rare coin professionals. Under my leadership, that of my son Larry, and now Christine Karstedt...
    Frank Provasek - PCGS Authorized Dealer, Life Member ANA, Member TNA. www.frankcoins.com
  • FrankcoinsFrankcoins Posts: 4,584 ✭✭✭


    << <i>Well Frank, now that you have spewed your simple minded opinion, it's time for you to get back to your Jerry Springer reruns.. >>




    Your insult of ME is taken for what it is. But when an organization advertises to the public that they are YOUR BEST CHOICE
    because of the FAMILIAR FACES and TRUSTED NAMES, and one of those faces (the CEO at that) LEAVES,
    it seems odd to argue that "it's not our place" to discuss this "emotionally charged issue."

    image
    Frank Provasek - PCGS Authorized Dealer, Life Member ANA, Member TNA. www.frankcoins.com
  • mrearlygoldmrearlygold Posts: 17,858 ✭✭✭
  • Many serious collectors stopped doing business at stacks long ago. And in my opinion, for very good reasons. I understand Mr. O'Connor is a reputable dealer, so I'm hoping that if he were more aware of other people's experiences there, he wouldn't be quite so gung-ho supportive.
  • pmacpmac Posts: 3,190 ✭✭✭


    << <i>

    << <i>

    << <i>No.

    It's my opinion and I'll leave it at that. I'm not going to bury anyone and I am certainly not going to create a catalyst for a 100+ post thread, so there! image >>



    O.K.....I get it.....The old hit and run. >>



    No. The old "my educated opinion" and no further comment. image >>


    Impossible!
    Paul
  • farthingfarthing Posts: 3,349 ✭✭✭
    My experiences with Stacks have always been first rate, and for what I'm interested in and collect Stacks auctions have always had much more interesting items than Heritage. image
    R.I.P. Wayne, Brad
    Collecting:
    Conder tokens
    19th & 20th Century coins from Great Britain and the Realm
  • saintgurusaintguru Posts: 10,211 ✭✭✭
    Lighten up, Joe. It's just a chat board and you know that everyone has an opinion.

    I wasn't the biggest fan of the merged companies but I prefer to keep my reasons to myself. I like Chris and would MOST HEARTILY welcome any improvements that could arise from this development.

    I liked the OLD ANR. I loved the Jung auction and numerous others.
    image
  • pmacpmac Posts: 3,190 ✭✭✭


    << <i>

    << <i>

    << <i>

    << <i>No.

    It's my opinion and I'll leave it at that. I'm not going to bury anyone and I am certainly not going to create a catalyst for a 100+ post thread, so there! image >>



    O.K.....I get it.....The old hit and run. >>



    No. The old "my educated opinion" and no further comment. image >>


    Impossible! >>


    See.
    Paul
  • STEWARTBLAYNUMISSTEWARTBLAYNUMIS Posts: 2,697 ✭✭✭✭

    I miss the "Old Stacks" where I could bid on raw coins.

    How many of you newbies could imagine bidding on a raw 1794 Gem Silver Dollar, or a raw gem 1894 S dime.

    Or if you were me, you could bid on gem red raw Lincoln cents, or how about the finest 1877 Indian cent ? naked and raw

    It REALLY developed Numismatic confidence in me and if I had a wish .........

    Stacks could become the "Old Company" and sell raw coins again ....



    Stewart Blay
  • tradedollarnuttradedollarnut Posts: 19,981 ✭✭✭✭✭
    I can think of a few great coins I purchased raw at the old Stacks as well:

    image
    image
    image
  • TwoSides2aCoinTwoSides2aCoin Posts: 42,333 ✭✭✭✭✭
    He's in my top 100 list.
    There's a lot more than 100 living legends and a few of them posted just before me in this thread.

    I'm truly humbled by it all. Having the freedom to share here is a lot of responsibility. I am sorry for joking in the face of the coin world. It's a wonderful place and that's that.
  • Wow, guess he didn't leave on his own accord according to CW.
  • Billet7Billet7 Posts: 4,940 ✭✭✭
    I feel bad for the situation that would require Larry to be excused from Stacks. It would feel a bit like betrayal...of ones family. I have no idea what happened, but I think the forum can garner some respect for the man and the company. After all, from what I know, he is a great numismatist and Stacks continues to be one of the best firms.
  • LeeGLeeG Posts: 12,258


    << <i>I can think of a few great coins I purchased raw at the old Stacks as well: >>


    Very nice!!

    Don't know the situation at Stacks but always sad when talent is lost for any reason.


    Bought Raw in a Stacks Auction:


    image


    image

    image
  • mrearlygoldmrearlygold Posts: 17,858 ✭✭✭
    What happened to Rick Bagg?
  • timcointimcoin Posts: 679
    When reading about the merger a few years ago, the first thing that came to my mind was that there sure were a lot of Chief's, and probably ego's as well? In business, that rarely works. Everyone has their own opinions, and feeling get hurt and ego's get damaged, which ultimately result in change. It must have been very difficult for Larry, who probably always believed he was destined to call the shots and run Stack's, to have a new group thrust on him, stripping his power. That is a shame and I hope his relationship with his father is not damaged.
  • UltraHighReliefUltraHighRelief Posts: 2,214 ✭✭✭✭


    << <i>What happened to Rick Bagg? >>




    I heard he went off on his own
  • BarryBarry Posts: 10,250 ✭✭✭


    << <i>I can think of a few great coins I purchased raw at the old Stacks as well: >>



    [pretty pics deleted]

    How come you didn't leave them raw?

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