Below are excerpts from a press release issued Friday by Escala Group, parent of Bowers and Merena and other numismatic firms. -Editor Escala Group, Inc. today announced that the Company has changed its corporate name to Spectrum Group International, Inc., effective immediately.
“The Company has undergone significant changes in the past few years, and our new name reflects those developments. Spectrum Group offers nearly 20 years of brand recognition as the name of our key rare coin wholesale subsidiary, and also conveys the breadth and scope of our collectibles and trading businesses, which now encompass precious metals, wine, rare U.S. and foreign coins, U.S. and foreign currency, U.S. and foreign stamps, and arms and armor.”
In connection with its name change, the Company’s trading symbol will also be changed, which is expected to occur within two to four weeks.
Spectrum Group is a consolidated global collectibles network. The Company is a leading auctioneer of stamps, coins, arms, armor and militaria, and other memorabilia, targeting both collectors and dealers. Spectrum is also a merchant/dealer of certain collectibles and trader of precious metals. The Company's collectibles offerings span the modest to ultra high-end price spectrum. Spectrum conducts its operations in two business segments: collectibles and trading.
Spectrum Group’s collectibles companies focused on philately are auction houses H.R. Harmer of Irvine, California, Corinphila Auktionen of Zurich, Switzerland, Heinrich Köhler Auktionshaus of Wiesbaden, Germany, and John Bull Stamp Auctions, Ltd of Hong Kong. Spectrum Group’s collectibles companies in the numismatics field include Bowers and Merena Auctions (rare coin and currency auction house), Ponterio & Associates (world and ancient coins and currency auction house), Teletrade (online coin auctions) and Spectrum Numismatics International (wholesale rare coin dealer), all based in Irvine, California. Spectrum Group also owns Greg Martin Auctions, which is engaged in the sale by auction of arms, armor and militaria, and will shortly be expanding into wine auctions.
The trading activities of Spectrum Group are conducted through A-Mark Precious Metals, one of the largest private sellers of bullion coins and bullion gold, silver and platinum to the wholesale marketplace. A-Mark’s subsidiary Collateral Finance Corporation, which is the Official Numismatic Lender of the American Numismatic Association, provides financing on a wide array of bullion and numismatic products.
To read the complete Escala Press Release, see: Escala Group, Inc. Announces Name Change (www.businesswire.com/news/google/20090522005070/en)
That was the small change. Over the weekend I heard that Larry Stack has left Stack's. That would be like Col. Sanders leaving Kentucky Fried Chicken or Dave Bowers leaving Bowers and Merena. Oh wait... stranger things HAVE happened... -Editor
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, who 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.
Wayne Homren, Editor
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