MCM Sold?: ModernCoinMart Sold to Asset Marketing Services
NeoclassicalAnalyst
Posts: 341 ✭✭
Breaking News: ModernCoinMart Sold to Asset Marketing Services
http://www.coinweek.com/education/coin-grading/ngc/breaking-news-moderncoinmart-sold-to-asset-marketing-services/
http://www.coinweek.com/education/coin-grading/ngc/breaking-news-moderncoinmart-sold-to-asset-marketing-services/
To the free man, the country is the collection of individuals who compose it, not something over and above them. -M. Friedman
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I'm on a dumb phone
"Inspiration exists, but it has to find you working" Pablo Picasso
Box of 20
Wishing you and everyone else involved all the best.
BST Transactions (as the seller): Collectall, GRANDAM, epcjimi1, wondercoin, jmski52, wheathoarder, jay1187, jdsueu, grote15, airplanenut, bigole
<< <i>congrats to john and great news that andy will be staying on during the transition. i really hope MCM continues to do business the way that they have in the past. >>
Curious for the reason for sale
<< <i>
<< <i>congrats to john and great news that andy will be staying on during the transition. i really hope MCM continues to do business the way that they have in the past. >>
Curious for the reason for sale >>
They made him an offer he couldn't refuse?
I'll miss that.
We shall see how they do, but I somehow doubt it will be the same.
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
"Inspiration exists, but it has to find you working" Pablo Picasso
<< <i>I enjoyed John's presence, as MCM leader, here on the forums. Very fair, very upfront.
I'll miss that.
We shall see how they do, but I somehow doubt it will be the same. >>
I'm not going anywhere.... here or there..... still will be on this forum and still will be a consultant that is actively involved with MCM, just no longer an owner.
I think this will allow MCM to continue expanding well beyond what I was able to do. AMSI is a very professional and well managed company and each company will benefit from the resources of the other.
The team is still in place exactly as it was and no staff changes are expected.
Thanks for the nice comments.
John
John Maben
Pegasus Coin and Jewelry (Brick and Mortar)
ANA LM, PNG, APMD, FUN, Etc
800-381-2646
Latin American Collection
It was always a pleasure working with you and Andy.
I suspect that MCM will still continue its exemplary services.
Wishing the best for your future plans and priorities.
raja
I hope that the new MCM is just as great both buying from and selling to. The latter, helping to foster a two way market, has greatly benefitted the moderns hobby.
remain top notch...
Congrats,
bob
I have enjoyed a great relationship with MCM over the years and applaud you on taking advantage of the opportunity to sell all of your inventory in one swoop. Because there is a new owner I will be cautious in my dealings with them until they, like you, have proven themselves to be reliable and customer friendly. To be honest I am pessimistic with what they will do with the reputation of MCM.
No Way Out: Stimulus and Money Printing Are the Only Path Left
Hoard the keys.
Congrats.
MCM has been a trusted source for modern coins for many years. I don't know about the others but the "DOH" meter always jumps off the scale when I happen across a coin retailer whose name is made up with the words "gov" and "mint".
The name is LEE!
<< <i>Moving forward, MCM will continue to operate as a stand-alone company, with current staff remaining in place. John Maben, former CEO and owner, will transition out of the day-to-day operations but continue to support MCM in a consulting role. >>
Good luck John....
Coin Club Benefit auctions ..... View the Lots
I occasionally wonder if their 261 representatives all make a good full time living at this firm. Will they remain strong while other local bullion dealers have closed their shops?
<< <i>Asset Marketing is a registered Minnesota bullion coin dealer. Their d/b/a's include Aber & Levine, First Federal Coin, First Federal Mint, Gold Shield International, GovMint, New York Mint, and Preferred Customer Club. As of this morning they have 261 registered bullion coin dealer representatives. They probably have additional employees who are not registered representatives.
I occasionally wonder if their 261 representatives all make a good full time living at this firm. Will they remain strong while other local bullion dealers have closed their shops? >>
Minnesota ? Oh yeah… The Big Brother State ?
``https://ebay.us/m/KxolR5
<< <i>This makes me just a bit nervous.
MCM has been a trusted source for modern coins for many years. I don't know about the others but the "DOH" meter always jumps off the scale when I happen across a coin retailer whose name is made up with the words "gov" and "mint". >>
As the saying goes: "Money talks..bs walks."
<< <i>Asset Marketing is a registered Minnesota bullion coin dealer. Their d/b/a's include Aber & Levine, First Federal Coin, First Federal Mint, Gold Shield International, GovMint, New York Mint, and Preferred Customer Club. As of this morning they have 261 registered bullion coin dealer representatives. They probably have additional employees who are not registered representatives.
I occasionally wonder if their 261 representatives all make a good full time living at this firm. Will they remain strong while other local bullion dealers have closed their shops? >>
I've occasionally purchased from GovMint w/o issues.
Don't know if First Federal Coin is First Fed. Reserve. I once bought a single $5 AGE bullion coin from the latter and have been pestered ever since.
MCM has been important to the moderns hobby as a trusted seller as well as a trusted and ready buyer. It will b a considerable loss to the hobby if this changes.
<< <i>This makes me just a bit nervous.
MCM has been a trusted source for modern coins for many years. I don't know about the others but the "DOH" meter always jumps off the scale when I happen across a coin retailer whose name is made up with the words "gov" and "mint". >>
Yep, I agree. If you are looking to buy current US Mint products I hope you don't accidentally go to govmint.com instead of usmint.gov. Last I check you would be paying about 50% more for the same products if you went to govmint.com by mistake.
I fear this move by Asset Marketing Services is a move to buyout their competition so they can increase their sales and margins.
Join the fight against Minnesota's unjust coin dealer tax law.
<< <i>
<< <i>This makes me just a bit nervous.
MCM has been a trusted source for modern coins for many years. I don't know about the others but the "DOH" meter always jumps off the scale when I happen across a coin retailer whose name is made up with the words "gov" and "mint". >>
Yep, I agree. If you are looking to buy current US Mint products I hope you don't accidentally go to govmint.com instead of usmint.gov. Last I check you would be paying about 50% more for the same products if you went to govmint.com by mistake.
I fear this move by Asset Marketing Services is a move to buyout their competition so they can increase their sales and margins. >>
Excellent point. If they buy out Goldmart and Apmex we're hosed.
<< <i>
Excellent point. If they buy out Goldmart and Apmex we're hosed. >>
lol… Sorry if this was serious… it made me laugh.
``https://ebay.us/m/KxolR5
Here comes the phone calls.
No Way Out: Stimulus and Money Printing Are the Only Path Left
<< <i>Congrats John! I hope all goes well. >>
That too, Mr Maben. You've always been most gracious.
Such an awesome "business mind". That's what I like.
``https://ebay.us/m/KxolR5
<< <i>Asset Marketing is a registered Minnesota bullion coin dealer. Their d/b/a's include Aber & Levine, First Federal Coin, First Federal Mint, Gold Shield International, GovMint, New York Mint, and Preferred Customer Club. As of this morning they have 261 registered bullion coin dealer representatives. They probably have additional employees who are not registered representatives.
I occasionally wonder if their 261 representatives all make a good full time living at this firm. Will they remain strong while other local bullion dealers have closed their shops? >>
Yes, it seems Asset Marketing Services is staying strong or maybe even getting stronger as other local shop are closing in Minnesota, or other out-of-state companies are no longer allowed to do business here.
Actually, some may be surprised to know that not only did Asset Marketing Services support the Minnesota coin bullion dealer law, they took credit for helping writing it! This is one of the main reasons I have always maintained that the law was written to help the big companies keep the coin market to themselves.
Think I am making this up? The President of Asset Marketing Services, Bill Gale testified before the Minnesota House Government Operations committee meeting on February 27, 2013. In that hearing, Bill Gale testified that he worked with the chief author of the bill and the Attorney Generals office, to help write the bill. You can listen for yourself.
Bill Gale testifies at the 22:38 mark in the following MP3 from the Minnesota legislature, http://www.house.leg.state.mn.us/audio/ls88/gov022713.asx
Join the fight against Minnesota's unjust coin dealer tax law.
This is an audio file, like an MP3, that will download to your device.
<< <i>LINKY
This is an audio file, like an MP3, that will download to your device. >>
And an hour and twenty minutes long. Not going to listen to it, need pertaining mp3 excerpts file posted + hosted. MHO.
<< <i>
<< <i>LINKY
This is an audio file, like an MP3, that will download to your device. >>
And an hour and twenty minutes long. Not going to listen to it, need pertaining mp3 excerpts file posted + hosted. MHO. >>
Can you forward to the 22:38 mark? Not sure if I know how to post an mp3 excerpt, perhaps someone else knows how to do that.
Join the fight against Minnesota's unjust coin dealer tax law.
<< <i>
<< <i>
<< <i>LINKY
This is an audio file, like an MP3, that will download to your device. >>
And an hour and twenty minutes long. Not going to listen to it, need pertaining mp3 excerpts file posted + hosted. MHO. >>
Can you forward to the 22:38 mark? Not sure if I know how to post an mp3 excerpt, perhaps someone else knows how to do that. >>
Yep, "My name is Bill Gale, etc." Got it. Thanks.
<< <i>
<< <i>Congrats John! I hope all goes well. >>
That too, Mr Maben. You've always been most gracious.
Such an awesome "business mind". That's what I like. >>
Congrats to John Maben for getting out as well.
I wonder if this is some kind of a "stamps" sign?
By that I mean that being a trusted coin entity for so long certainly buys the 3% dealer discount from the US Mint which means, and instant 3% profit on US Mint Products "AT" US Mint prices? add a couple of percent for the folks that don't want to buy from the US Mint and you're looking at a neat, dependable sum.
Go a bit further and get into the Bullion Business as an Authorized Purchasers, and away you go.
Can't help but wonder why someone would leave after so many successful years?
The name is LEE!