Coin Dealer Newsletter gets new owner
- Published: Jul 31, 2015, 4 AM
The Coin Dealer Newsletter family of U.S. coin and paper money pricing publications is under new ownership.
John Feigenbaum, owner and president of David Lawrence Rare Coins in Virginia Beach, Va., confirmed July 30 to Coin World that he is the new owner, having acquired the company from Dianne Downing.
"There is an investor group behind me, but I am the managing partner/publisher," Feigenbaum said via email. Details of the sale, the purchase price and the members of the investor group were not disclosed. Feigenbaum said additional information will be made available shortly.
Feigenbaum said he is currently in the process of divesting himself of ownership interest in DLRC "so that I will be completely independent in my publishing of CDN."
"We have lots of plans for changes, but for now, the initial strategy is to move the company from California to Virginia, without any perceptible changes to our subscribers," Feigenbaum said. "The only exception is that we are already taking a harder look at prices across the board to get them as accurate as possible for our readers."
Feigenbaum is also a managing partner of CoinPlex, a dealers-only trading exchange for certified U.S. coins.
Started in 1963, Coin Dealer Newsletter, commonly called "The Greysheet," was purchased by the Downing family in 1984 by Ron Downing and his mother, Pauline Miladin. Upon Ron Downing's death in 1997, Shane Downing, Ron and Dianne Downing's son, developed more of a leadership role in the company, eventually becoming publisher.
Shane Downing died June 18, 2015, at age 47, from cancer.
David Lawrence Rare Coins was founded by John Feigenbaum's father, David Lawrence Feigenbaum, in 1979 in a spare bedroom in the family's home.
According to the DLRC website, David Feigenbaum, who earned a doctorate degree in marine biology, "was a passionate coin collector his entire life, who made the jump to coin dealing when his collecting desires exceeded his limited professor's budget." David Feigenbaum passed away in 2002 after a long battle with ALS (Lou Gehrig's Disease).
John Feigenbaum has directed DLRC since his father's passing.
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