IRVINE, Calif. (July 17, 2013) — Stack’s Bowers Galleries, a subsidiary of Fortune 500 Company Spectrum Group International, Inc., announced today that it is combining its operations with those of Teletrade and Spectrum Numismatics, creating a single, integrated operating unit to be known as Stack’s Bowers Galleries. Brian Kendrella, formerly Director of Operations overseeing all three companies, has been named President of the newly constituted company.
Greg Roberts, President and Chief Executive Officer of Spectrum Group International, commented, “Stack’s Bowers Galleries, Teletrade and Spectrum Numismatics have independently been leaders in their respective specialized areas of numismatics for as many as 80 years. Combining the unique and specialized services of these three leading organizations will enable the new Stack’s Bowers Galleries to remain at the forefront of numismatics and continue its tradition of excellence.“
“The opportunity to lead Stack’s Bowers Galleries is very exciting and I am honored to have been given the responsibility of continuing our unparalleled history of success,” Mr. Kendrella stated. “The new Stack’s Bowers Galleries will expand on the services previously offered by the three individual companies and offer an unmatched level of numismatic expertise, quality of service, and breadth of buying and selling opportunities. Our increased services will include our renowned live Showcase Auction presentations, weekly iAuctions, and Collectors Choice Auctions three times per year, as well as expanded retail and wholesale services through our online coin shop, SBGdirect, our flagship New York City store, and through direct customer relationships.”
Mr. Kendrella also commented, “More than ever, we are committed to the needs of our valued clients and with them in mind, we have spent the past several months developing an entirely new and state-of-the-art technology platform that we are excited to launch soon. Our new website will offer a number of new advanced features specifically designed to allow our customers to quickly and easily find their items of interest and provides them with as much information as possible to help them make informed bidding and buying decisions. It will also combine the past sales records of our predecessor firms and put over 1.5 million auction prices realized at their fingertips.”
Continuing, Mr. Kendrella said, “Our commitment to innovation does not stop with our new website and technology. We are also pleased to announce that we will soon launch a new consignor program called InstantCash, where qualified consignors to our weekly iAuctions can receive up to 60 percent of the value of their consignment the day following the completion of the auction, and the balance of their proceeds in as few as seven days later. Other exciting innovations will be launched in the months ahead, as well.”
Mr. Roberts concluded, “Our entire team of expert numismatists and senior management, including Q. David Bowers, Harvey Stack, Chris Napolitano, Larry Stack, Rick Ponterio, Chris Karstedt, Corey Maita, Richard Melamed, Andrew Glassman, Paul Nugget, and Peter Treglia are committed to working with Brian to create the destination for all our customer’s numismatic needs, leveraging the prestige of the over eight-decade old Stack’s Bowers brand with the 21st century technological capability and know-how that our clients expect and deserve today.”
About Stack’s Bowers Galleries
Stack’s Bowers Galleries, a division of Fortune 500 Company Spectrum Group International Inc., conducts live, Internet and specialized auctions of rare U.S. and world coins and currency and ancient coins, as well as direct sales through retail and wholesale channels. The company’s 80-year legacy includes the cataloging and sale of many of the most valuable collections to ever cross an auction block — the John J. Ford, Jr. and Louis E. Eliasberg, Sr. Collections, The Harry W. Bass, Jr. Collection, The Norweb Collection, and the Cardinal Collection — to name just a few. Topping off this amazing numismatic history is the inclusion of the world record for the highest price ever realized at auction for a rare coin, the 1794 Flowing Hair Silver Dollar graded Specimen-66 (PCGS) that realized over $10 million, part of their sale of the famed Cardinal Collection. The company is headquartered in Irvine, California, with offices in New York, Wolfeboro, San Francisco, Hong Kong, and Paris. Stack’s Bowers Galleries is the Official Auctioneer for several important numismatic conventions, including the 2013 ANA World’s Fair of Money and the ANA/PNG Pre-Show, the 2013 ANA National Money Show, and the Whitman Coin & Collectibles Baltimore Expo, three times yearly.