NEW YORK, N.Y. (August 16, 2012) — One of the world’s leading auction houses and legendary New York City institution Stack’s Bowers Galleries is marking its 60th anniversary with a grand re-opening of its historic Upper West Side location with an official ribbon cutting ceremony on Thursday, August 23, 2012. Legendary numismatic industry veterans Harvey and Larry Stack are scheduled to be in appearance for the presentation, which will take place from 9 a.m. to 11 a.m. at the 123 West 57th Street location.
The 57th Street storefront location is Stack’s Bowers’ only retail outlet in the country. The iconic coin shop originally opened in 1933 in midtown New York at 690 Sixth Avenue. As the economic environment changed throughout the 1930s-1940s, the retail location moved several times before landing at its present day location in 1953, where it is has remained for 59 years.
In the 1940s and 50s, the coin shop was referred to as the ‘club house’ amongst avid coin collectors, and it brought together a group of leading numismatics, which later formed the nucleus of the Metropolitan New York Numismatic Convention. In a move to restore this location to its original luster and return to the nostalgia of the early days, a remodel unveiling that 1940s New York City coin collector’s historic feeling will be revealed at the grand re-opening. “We are looking forward to sharing this newly renovated, historic space with not only New York City, but with the country and our visitors from around the world,” Chris Napolitano, president of Stack’s Bowers Galleries commented. “This remodel is a milestone for Stack’s Bowers as a New York institution, as well as for the city—after nearly 60 years in a single location, and nearly 80 years in business, it is exciting to know that it is possible for a business to see continued success through both good and bad times. This remodel is a celebration!”
The 2012 remodel boasts completely redone ceilings, new carpet, invigorated street viewing displays, a redesigned entrance, refinished wood cabinets as well as the famous Stack’s Bowers Galleries sit-down viewing counters. “The highlight of the shop has always been the display cases and whatever wall hangings we have on display at the moment,” Harvey Stack commented. “These displays are not only of interest to our devoted collectors, but even travelers find an interest in the museum-like experience of seeing a small bit of history hanging on our walls.” Stack’s Bowers Galleries is surrounded by a handful of New York City landmarks including Carnegie Hall, The Directors Guild of America, and the famous Russian Tea Room, all tourist attractions, much like the Gallery is today.
About Stack’s Bowers Galleries
Stack’s Bowers Galleries, a division of Fortune 500 Company Spectrum Group International Inc., was launched in January 2011, combining the extraordinary histories of Stack’s, the oldest rare coin auction and retail company in America, with Bowers and Merena Auctions, one of the world’s pre-eminent auctioneers of rare coins and paper money. The two companies unite to share a combined legacy that spans more than 100 years, and 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, and the Norweb 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 legendary 1933 Saint-Gaudens Double Eagle that realized an astounding $7.59 million (sold in partnership with Sotheby’s). The company is headquartered in Irvine, California, with offices in New York, New Hampshire, and Hong Kong. Stack’s Bowers Galleries is the Official Auctioneer for several important numismatic conventions, including the ANA World’s Fair of Money pre-show and convention auctions, and the Whitman Coin & Collectibles Expos in Baltimore, three times yearly, and in Philadelphia.