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Osburn - Herndon
Bustseeker
Posts: 23 ✭✭
While talking with Dick Osburn Thursday afternoon, he mentioned that he a finalized a deal to sell his business to Wayne Herdon. He stated it's time to step back a bit. He will still remain involved in shows and the transition could take a few years. I am sure more details will come out this weekend.
Congrats to Dick & Ruth!!!
Congrats to Dick & Ruth!!!
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I have bought from Dick many times since I've been collecting CBHs and he has been great to deal with.
I wish Dick and Ruth much luck in their future endeavors.
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)
Keeper of the VAM Catalog • Professional Coin Imaging • Prime Number Set • World Coins in Early America • British Trade Dollars
Once Dick Osburn bows out, will Bust-Seated silver collectors transfer their loyalty to WH, or will Rich Uhrich benefit by picking up business that would have gone to Dick?
RMR: 'Wer, wenn ich schriee, hörte mich denn aus der Engel Ordnungen?'
CJ: 'No one!' [Ain't no angels in the coin biz]
<< <i>Probably a good move for Herndon. Brand name means a lot, however---this takes more than a couple of years to build up (especially where varieties are concerned).
Once Dick Osburn bows out, will Bust-Seated silver collectors transfer their loyalty to WH, or will Rich Uhrich benefit by picking up business that would have gone to Dick? >>
I was thinking about this, too. I think Rich Uhrich will be the ultimate winner in this transaction. When the #1 and #2 bust silver dealers are battling it out, and then one of those two bows out of the numismatic world, it is a numismatic given that the void will be filled by the dealer that is left standing. If Uhrich's company was publicly traded, I would be buying massive quantities of his stock right now.
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)
<< <i>
<< <i>Probably a good move for Herndon. Brand name means a lot, however---this takes more than a couple of years to build up (especially where varieties are concerned).
Once Dick Osburn bows out, will Bust-Seated silver collectors transfer their loyalty to WH, or will Rich Uhrich benefit by picking up business that would have gone to Dick? >>
I was thinking about this, too. I think Rich Uhrich will be the ultimate winner in this transaction. When the #1 and #2 bust silver dealers are battling it out, and then one of those two bows out of the numismatic world, it is a numismatic given that the void will be filled by the dealer that is left standing. If Uhrich's company was publicly traded, I would be buying massive quantities of his stock right now. >>
WH is not a dealer that comes to my mind when I shop for 18th-19th-century U.S. coins. Unless the Osburn deal works a minor miracle, Uhrich will benefit.
RMR: 'Wer, wenn ich schriee, hörte mich denn aus der Engel Ordnungen?'
CJ: 'No one!' [Ain't no angels in the coin biz]
siliconvalleycoins.com
roadrunner
<< <i>That's a shame, for collectors anyway. Osburn was and still is an enormous asset to bust collectors for a myriad of reasons. >>
That is my feeling as well.
RMR: 'Wer, wenn ich schriee, hörte mich denn aus der Engel Ordnungen?'
CJ: 'No one!' [Ain't no angels in the coin biz]
<< <i>I like both Wayne Herndon and Dick OSburn a lot.
Losing Dick Osburn isn't a good thing for the hobby.
There are many many other dealers I wouldn't feel that way about, why is it always the good ones that fade away. >>
Osburn is a major player in the Bust/Seated market. It would be hard to challenge that.
He's a decently nice guy, but from my experience he's not overly friendly unless you buy something from him.
IMO, his leaving is a generally good thing for the hobby. He often neglected to mention various problems with a lot of
his raw coins, and often optimistically overgraded them as well!
But, in the end, he had the coins and priced them VERY strongly. His inventory was extensive, he had the want lists of
several hundred collectors, and could find coins his want-list collectors wanted.
This also opens the door for more business for Uhrich, who I find to be a much better, friendlier dealer than Osburn.
He was mentored by one of the best, Liz Coggin.
He has been hired by Dick to be his Senior Numismatist.
He is moving from Boston to Chantiliy to be the "keeper of the coins."
He will also launch a Web based store, with images taken by himself.
They will start with coins over $500.
He mentioned Wayne's Coin Wizard business has really taken off.
I then spoke to Dick. He can't even write a check, until all the details have been worked out.
All of his inventory is moving to Chantilly, VA., pending consignor issues.
Dick's personal Seated collection will stay with him.
As he said, You know, I'm still a collector too!.
The name is LEE!
The name is LEE!
<< <i>
<< <i>I like both Wayne Herndon and Dick OSburn a lot.
Losing Dick Osburn isn't a good thing for the hobby.
There are many many other dealers I wouldn't feel that way about, why is it always the good ones that fade away. >>
Osburn is a major player in the Bust/Seated market. It would be hard to challenge that.
He's a decently nice guy, but from my experience he's not overly friendly unless you buy something from him.
IMO, his leaving is a generally good thing for the hobby. He often neglected to mention various problems with a lot of
his raw coins, and often optimistically overgraded them as well!
But, in the end, he had the coins and priced them VERY strongly. His inventory was extensive, he had the want lists of
several hundred collectors, and could find coins his want-list collectors wanted.
This also opens the door for more business for Uhrich, who I find to be a much better, friendlier dealer than Osburn. >>
Did you leave anything out? LOL Actually i would say it is spot on description although Ruth is always friendly, but when you got the candy that others want you get to mark the price.
NGC registry V-Nickel proof #6!!!!
working on proof shield nickels # 8 with a bullet!!!!
RIP "BEAR"
<< <i>What about Brian Greer? Isn't he a major player in the Seated coinage series'?? >>
Not comparitively
<< <i>What about Brian Greer? Isn't he a major player in the Seated coinage series'?? >>
Dick carries a much larger and higher priced inventory.
I expect more seated and bust collectors will find their way to Rich Uhrich. I think this was the case anyways. Rich seems to be connected to more buyers and sellers than ever. He's knowledgeable, honest and has a great eye. Wayne doesn't have the focus Rich has.
That could be a big thing. I would think Wayne would want Dick to "play" in his retirement and help Wayne.
One of my favorite guys, Mr. Merrill has been retired for years now and still plays with Heritage and help them out with the auctions.
He gave me $75 more than I offered them to CU members on the BST. They were worn out better dates.
He answered many questions I had with patience. Dealers like him in my book are far & few in between!
taken up guitar,,,,,,,, and was going ON-TOUR with OZZIE OSBURN,,,,,,,,,,,,,,,,,,,
WAYNE,
Please post a link to your new inventory when it is ready
Dick and Ruth are off to Alaska soon and will be back just in time for the ANA in Boston.
FWIW, Dick will be at all the major shows, nothing has really changed, except the inventory will be in Chantilly, VA.
He said he will be much more relaxed as a "spectator" in the various cities, as he won't have to worry about carrying coins around.
There will be an 'Official Press Release' issued tonight or tomorrow morning per Dick.
I mentioned Longacre was in a frothy frenzy in anticipation of said PR.
During the half hour I spent talking with the Osburns, there were probably only 4 or 5 customer inquiries.(slow afternoon)
We had time to talk everyting from politics to vacation spots.
The big highlight was when Liz Coggin stopped by around 2:30 to congratulate her star pupil, Brian Cushing on his new job.
He's been with Dick Osburn Rare Coins now for about 6 months, I believe Dick said.
Ruth and Liz went on about Italy for 10 minutes it seemed.
Liz just got back from a 5 city tour of Italy.....she was ecstatic to say the least.
All and all, a very nice social event indeed!!
Oh, and Best wishes Wayne and Dick!!!!
<< <i>FWIW, Dick will be at all the major shows, nothing has really changed, except the inventory will be in Chantilly, VA.
He said he will be much more relaxed as a "spectator" in the various cities, as he won't have to worry about carrying coins around.
There will be an 'Official Press Release' issued tonight or tomorrow morning per Dick. >>
Interesting. This makes it sound like Dick will still be buying and selling coins, sort of, but that he's more or less "consigning" them all to Wayne for sale?
<< <i>Dick and Wayne are both great guys - congrats to both. >>
Definitely!
<< <i>Dick Osburn's coin inventory being photographed to be online, now that is different.......great news! >>
Just what I was going to say.
Buying top quality Seated Dimes in Gem BU and Proof.
Buying great coins - monster eye appeal only.
The Baltimore show, though still in progress, already represents a major milestone for us. On June 16 we sold our business to Wayne Herndon of Chantilly, Virginia. The press release that’s included at the bottom of this message should answer most questions about the transaction. Our goal is for the business to continue to operate in the same way it has, with the only changes being ones that you’ll all consider to be very positive. If you have any questions or concerns that aren’t addressed in the press release please feel free to call us. Cut us some slack if the phone battery runs down. It’s been ringing off the hook for the past 2 days.
The show has been a good one, but not strong, a typical summer show. We’ve had a lot of traffic, with customers continuing to look for the scarce dates and varieties. Thursday was a little slower than we expected, but the traffic picked up on Friday, and today saw collectors standing in line at the table until around 300pm, when everyone seemed to decide it was Miller time.
I didn’t attend the Bowers & Merena auction. We’ve been so involved in completing the transition paperwork, inventory, etc. that I had very little time to look at the coins. I decided it was best to just sit this one out. The reports I heard were that most prices were reasonable, but that some of the really quality coins went through the roof. With this being a normally slow summer auction that could be indicating a turnaround in the market. Only the summer ANA auction will tell.
Our heartfelt thanks for all your past business. We hope that we’ll continue to see and hear from you as our business moves into a new phase. We’ll see you at the summer ANA in Boston!
Dick & Ruth Osburn
713-875-5860
Press Release : June 16, 2010
Wayne Herndon acquires Dick Osburn Rare Coins
Dick Osburn and Wayne Herndon announced that effective June 17 the assets of Dick Osburn Rare Coins were acquired by Wayne Herndon Rare Coins, Inc. of Chantilly, Virginia. Key aspects of the transaction include:
· Dick Osburn Rare Coins will continue to be operated as a separate entity. The company will relocate its headquarters to Chantilly, Virginia and share office space with Wayne Herndon Rare Coins and Wizard Coin Supply, also operated by Herndon. The company will retain a satellite office in Kemah, Texas.
· Dick Osburn will remain active in the business, splitting his time between the Chantilly and Virginia offices. Administrative functions will be provided through infrastructure already in place in Herndon’s organization, allowing Osburn to focus on the numismatic aspects of the business as well as spending more personal time with his wife, Ruth.
· Brian Cushing joins the company as Senior Numismatist. Cushing began his career as a professional numismatist in 2004 at J. J. Teaparty, where he was in charge of coin photography and developed an interest in attributing bust and seated coin varieties. After leaving J. J. Teaparty, Cushing operated Brian Cushing Rare Coins, where he gained additional experience dealing with early U. S. type coins. He was recruited by Herndon in August, 2009, to work on the Osburn transaction. The transition planning has been in progress since that time.
· Osburn and Cushing will manage the numismatic and customer/consignor aspects of the business with Herndon providing strategic, managerial, and administrative support.
· Consigned coins remain with Osburn pending approval of assignment of consignment agreements by individual consignors.
Dick and Ruth explained that “the business has grown to the point where it was becoming more and more difficult for us to manage without hiring additional employees.” The new structure allows the company to make full use of the infrastructure already in place at Wayne Herndon Rare Coins and Wizard Coin Supplies while retaining the practices that have made Dick Osburn Rare Coins one of the most respected dealers in the industry and the national leader in the marketing of U. S. bust and seated coinage.
In the coming months the company will be making significant upgrades to its technology. “We invested heavily in a technology platform for Wizard Coin Supply that we can now leverage across Dick Osburn Rare Coins,” noted Herndon. Planned improvements include a fully e-commerce-compatible website with digital coin images and shopping cart functionality.
The benefits of the new structure will be immediate and far-reaching:
· Improved consignment services.
· Broader auction representation.
· Improved want list services.
· Continuous operation – no interruptions for vacations.
· More eastern shows (the company has already added the Annandale Coin Show, and Coinfest).
· More opportunities for Dick and Ruth to work on their bucket list!
The agreement was signed in Baltimore on June 16. The new telephone for the business location in Chantilly is 703-373-7399. Dick and Ruth can still be reached at 713-875-5860.
<< <i>email from Dick as per seateddime post...........
The Baltimore show, though still in progress, already represents a major milestone for us. On June 16 we sold our business to Wayne Herndon of Chantilly, Virginia. The press release that’s included at the bottom of this message should answer most questions about the transaction. Our goal is for the business to continue to operate in the same way it has, with the only changes being ones that you’ll all consider to be very positive. If you have any questions or concerns that aren’t addressed in the press release please feel free to call us. Cut us some slack if the phone battery runs down. It’s been ringing off the hook for the past 2 days.
The show has been a good one, but not strong, a typical summer show. We’ve had a lot of traffic, with customers continuing to look for the scarce dates and varieties. Thursday was a little slower than we expected, but the traffic picked up on Friday, and today saw collectors standing in line at the table until around 300pm, when everyone seemed to decide it was Miller time.
I didn’t attend the Bowers & Merena auction. We’ve been so involved in completing the transition paperwork, inventory, etc. that I had very little time to look at the coins. I decided it was best to just sit this one out. The reports I heard were that most prices were reasonable, but that some of the really quality coins went through the roof. With this being a normally slow summer auction that could be indicating a turnaround in the market. Only the summer ANA auction will tell.
Our heartfelt thanks for all your past business. We hope that we’ll continue to see and hear from you as our business moves into a new phase. We’ll see you at the summer ANA in Boston!
Dick & Ruth Osburn
713-875-5860
Press Release : June 16, 2010
Wayne Herndon acquires Dick Osburn Rare Coins
Dick Osburn and Wayne Herndon announced that effective June 17 the assets of Dick Osburn Rare Coins were acquired by Wayne Herndon Rare Coins, Inc. of Chantilly, Virginia. Key aspects of the transaction include:
· Dick Osburn Rare Coins will continue to be operated as a separate entity. The company will relocate its headquarters to Chantilly, Virginia and share office space with Wayne Herndon Rare Coins and Wizard Coin Supply, also operated by Herndon. The company will retain a satellite office in Kemah, Texas.
· Dick Osburn will remain active in the business, splitting his time between the Chantilly and Virginia offices. Administrative functions will be provided through infrastructure already in place in Herndon’s organization, allowing Osburn to focus on the numismatic aspects of the business as well as spending more personal time with his wife, Ruth.
· Brian Cushing joins the company as Senior Numismatist. Cushing began his career as a professional numismatist in 2004 at J. J. Teaparty, where he was in charge of coin photography and developed an interest in attributing bust and seated coin varieties. After leaving J. J. Teaparty, Cushing operated Brian Cushing Rare Coins, where he gained additional experience dealing with early U. S. type coins. He was recruited by Herndon in August, 2009, to work on the Osburn transaction. The transition planning has been in progress since that time.
· Osburn and Cushing will manage the numismatic and customer/consignor aspects of the business with Herndon providing strategic, managerial, and administrative support.
· Consigned coins remain with Osburn pending approval of assignment of consignment agreements by individual consignors.
Dick and Ruth explained that “the business has grown to the point where it was becoming more and more difficult for us to manage without hiring additional employees.” The new structure allows the company to make full use of the infrastructure already in place at Wayne Herndon Rare Coins and Wizard Coin Supplies while retaining the practices that have made Dick Osburn Rare Coins one of the most respected dealers in the industry and the national leader in the marketing of U. S. bust and seated coinage.
In the coming months the company will be making significant upgrades to its technology. “We invested heavily in a technology platform for Wizard Coin Supply that we can now leverage across Dick Osburn Rare Coins,” noted Herndon. Planned improvements include a fully e-commerce-compatible website with digital coin images and shopping cart functionality.
The benefits of the new structure will be immediate and far-reaching:
· Improved consignment services.
· Broader auction representation.
· Improved want list services.
· Continuous operation – no interruptions for vacations.
· More eastern shows (the company has already added the Annandale Coin Show, and Coinfest).
· More opportunities for Dick and Ruth to work on their bucket list!
The agreement was signed in Baltimore on June 16. The new telephone for the business location in Chantilly is 703-373-7399. Dick and Ruth can still be reached at 713-875-5860. >>
· More opportunities for Dick and Ruth to work on their bucket list! Priceless!
Wondercoin
<< <i>Do you know how long I have hoped to see Dick's great coins photographed and put up on a website......this is freakin exciting!!!!! >>
Not as long as me......and anyone else who wants to see Dicks inventory but cant make it to every show!!!
<< <i>I do hope the Dick Osburn portion of the WHRC website is kept more current than the WH part of the WHRC website. Over the years, I have noticed that coins sold long ago have lingered on the WHRC website. The Dick Osburn portion will HAVE TO do better if people who collect bust coins are going to keep it as a "go to" bookmark...at least that's my opinion. >>
I give away money. I collect money.
I don’t love money . I do love the Lord God.
I give away money. I collect money.
I don’t love money . I do love the Lord God.