We'll I never.........

Have heard of such a " generic accusation " than I read today.

Laura Sperber at Legend is a major, MAJOR player , the top of the heap, up there with Heritage, Bowers, Contursi, etc etc in the rock star galaxy that is coin dealer elite. I read the Legend report regularly and never comment publicly on it.

This fresh report is disturbing at best. Alot of true info, and ALOT of industry knowledge, lets not discount that.

I take offense for those that I know are hardworking, honest and A+ goodguys. There is a sentance in the report that irks me about Indian Cents and Lincolns. See if you can find it.

You will learn some truth in this report, but you will hear some schmuch as well. 5 years ago, if you did not sell PCGS coins, you were a Coin Dr or a doctors assistant. Today? If they aren't CAC, you are back to Jerry Springer show level coin dealing. Buy CAC or get ripped? Give me a freakin break.

The Indian Cent and Lincoln statement got my " irk" on.

There are many, many reputable dealers that dont follow this model, Andy Skrabalak come to mind immeadiatly as well as Rick Snow. Some of the highest integrity sources of primo coins on the planet.

Huff and Puff.

Excuse my rant. Sorry Laura, we all dont live in the $100,000 plus coin world, and your CAC advertising is a bit put-offish. You always welcome me with a smile and a friendly hello, but c'mon, controversy is your goal correct? Provocative reports does entertainment make.

Now, watch me get crushed and nailed. I had to say it. Flame away.

link:

http://www.legendcoin.com/cgi-bin/inventory/cms2.pl?page=market_report

 

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"Well, I never . . . "


I was expecting something from Jack Benny. :kewl:

I read what got your dander up:

WOW! She doesn't hold anything back does she? I can see how that statement would upset quite a few dealers who are not at the elite level that she approves of.

 

Lets not bang Laura, she knows this business better than any of us ever will, but I find generic statements like the " irk one" to be ....



well, grrrrrrrrrrrr

 

I'm sure what she is saying is true of some dealers...but it's not a general truth. You have a reason to be upset Jack.

 

Personally I could care less about a CAC sticker, Laura and her article. Her reference toward coin dealers that aren't CAC members is absurd, basically comparing them to "coin doctors".

 

You know whos opinion I want on this?

Budgood and Cavetroll. They are the major players in the " big leagues"

If you gents, oh yeah, Robbie and Zane too, let us know ( without risking your day jobs) what you think of such a report, you expertise is needed here, this is WAY beyond me.

 

my thoughts exactly.

 

Hmm, if something is a WELL KNOWN FACT it had better have some well documented evidence...

...starting with some names, places, dates, and coins.

If it's a fact, there is no need to worry about libel, slander, et al.

 

It is time folks to bang out your problem coins and your not so great......I do it on Ebay. She is right. When markets tighten up and the "easy money " flippers market drys up, it might be a good time to really sit and assesyou holdings. Dont expect " big money" for your problems tho, those are the coins you need to dump cheap and get into"right " stuff with.

I , like many of you, have made mistakes. I will be moving them to free up cash. It is a fact, we buy some losers, we all do. Move them and get "right" in the current state of the coin market.

You STRICT collectors have a buying opportunity now, as many of us " part time" and " vest pocket" guys are short on cash. It presents a great buying time, but I warn, be careful. I admit I will use Ebay as a source of cash for my " not so good" stuff.

So will many others. Dont buy my junk, and dont buy the others junk as well. With patience, and some looking, many bargains may be had.....it's up to you to find them.

 

Do not ever confuse money nor the public spotlight as knowledge. If a person is wrong, then they should be rebuked and corrected. It does not matter what the public perception is of the person, being wrong is still being wrong.

And what business are you talking about here? Really think about that statement for a minute. Does the availability of a large amount of money, along with the purchase, markup, and resell of a manufactured product make one an expert in the industry, or an expert in sales? Give it some real thought.

That is not to say that she is not knowledgeable at all. Far from it. But, do not elevate someone because of their resources. Numbers and figures do not denote knowledge. Any good salesperson can produce a large amount on the profit spread given enough capital, and a talent for negotiating deals.

So really, what business is this that she knows better than any of us ever would? Is it the business of hyping and promoting? The business of analyzing and speculating on the market? The business of grading and counterfeit detection? The business of building a portfolio for investment? The business of being a hobbyist and collector? The business of authoring knowledge in a coherent manner for others to glean off of and understand?

She gets reviews, both good and bad, from both great and small. But, the only expertise I would give her is in hype journalism and sales. That opinion holds no more and no less clout than the opinion of any other person in numismatics...much like grading. Because opinions, even of people, are always subjective.

 

I've never bought a coin because of a sticker . And I'm sure her comment could be said of dealers of any coins .
rzage

 

This is a completely expected and example of the fraud that CAC represents. This is the tip of the iceburg. More FUD is coming because CAC has deep tenticles in the coin community and they are doing a full tilt at selling the only thing they market, which is not a grading service, but fear, uncertainty and doubt.

I told you before that CAC is a scam.

Ruben

 

So she's telling us the collectors that we're stupid and can't tell a nice coin unless it's CACed , garbage , now maybe I'll avoid CAC stickered coins , she doesn't sound that smart to me .
rzage

 

CAC? Whats that? lol

 

At least they disclosed this little gem :

"As many of you know, Legends principals are shareholders of CAC"

There you have it.

 

It's just marketing. She is even honest and says some legend peeps are stakeholders in CAC. When one aspect of your core business is down you advertise for your subsideraries. We all watch the news and know that tens of billions of dollars have been lost in the last year through devalued real estate, crashing stock market, and job losses. They are just trying to keep money coming into the coffers. I do not feel she is specifically targeting anyone on this site. I feel it is more an advertisement then a futures outlook. I agree that you should tighten up and only buy "GOOD" high quality coins. Do they need to be CAC? Naw. Do we need to be viligent when buying? Yes.

 

can someone please explain CAC in detail