By CoinWeek News Staff …..
In a February 3 letter from CEO Greg Roberts, Company President Brian Kendrella, and CFO Andrew Glassman dated February 3, Stack’s Bowers Galleries, the rare coin industry’s second-largest auction firm, announced that it had entered into a definitive merger agreement to be acquired by A-Mark Precious Metals, of which Roberts is also the CEO. A-Mark, a leading precious metals dealer, already owns JM Bullion, Goldline, Provident Metals, LPM Group Limited, SilverTowne Mint, and Collateral Finance Corporation. Under the agreement, Stack’s Bowers Galleries will continue to operate as a standalone, independently operated, wholly-owned subsidiary of A-Mark, a Nasdaq-listed company.
Under its current leadership, Stack’s Bowers Galleries has evolved into a premier global auction company, establishing a significant presence in the United States, Asia, and Europe. The company’s Griffin Studios, located at its headquarters in Costa Mesa, pioneered the use of state-of-the-art video production in the rare coin industry. Additionally, Stack’s Bowers Galleries introduced Coins In Motion technology, the first high-definition imaging application designed to authentically replicate the experience of examining a coin in person.
Beyond its historic record-setting auctions, Stack’s Bowers Galleries has made markets for hundreds of thousands of modestly-priced numismatic collectibles, including important offerings from the United States Mint and the Royal Mint.
Stack’s Bowers has cultivated a prominent position in both wholesale and retail markets, providing rare coins, currency, and precious metals to other dealers and directly to collectors.
According to the letter, this merger will equip Stack’s Bowers with the necessary resources to amplify its growth and significantly enhance the services provided to its clients. This includes improved financing options for consignors and bidders via Collateral Finance Corporation.
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