What Happened to Brent-Krueger Coin Supplies?

I know I haven't bought anything from these guys in awhile but this morning, when I went to check out a few things on their site, I discovered that they closed shop in February. Anybody know what happened and how come?


http://www.brent-krueger.com/

 

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Maybe they went out of business since their customers "hadn't bought anything from them in a while".

 

He's doing a historical re-enactment of
Lonesome Jonn Devine.

 

I don't see him listed in the PNG directoy. I'm pretty
sure he was a member.

 

Actually, after thinking about it, I am not too surprised. Think about it, even if we assume the same amount of collectors today as 20 years ago, nowadays so much collecting is done in slabs, (less demand for holders, etc), and many new collectors aren't as interested in books, (TPG already attributed it), that I could see less demand for coin supplies.

That, coupled with Ebay and the ease of competition, could easily put serios pressure on supply dealers unfortunately.

I know you were hoping for a "real answer" Green, but I don't know specifically about this firm. I had never done business with them.

 

Well, I have bought a few things from them. There was nothing wrong with Brent-Krueger and the shipping was fast too. If anything I believe a lack of word of mouth is part of the reason. I have seen a lot of member recommend JPs Corner, Wizard and some others, but none have mentioned Brent-Krueger.

And to be honest I thought they were much better than some other companies out there. Maybe they just decided close for other reasons too?

 

There does seem to a lot of competition in
supplies. Including Amos, who seem rather
well stocked.

 

Another thing is over ordering. I order way more
stuff than what I need at moment so I don't have
to pay another shipping charge two months later. If
everyone else does that, it's a feast then famine
episode.

 

I heard a rumor that Intercept Shield products are no more. TC

 

Further Info

I know this is an old thread, but as an employee of a competitor, we asked Brent krueger why they were closing their doors. Their reply "Because I can only sink my own money into it for so long". After further discussion, they apparently had not been making money for quite some time.

 

Probably not the same B-K

 

I would hope not!

 

I somewhat recall reading where he & wife retired to Florida.

 

Hi folks, this is Andrew Auletta. I am the CEO of Brent-Krueger LLC. I just now saw this thread, and figured I'd update everyone. In business since 1999, Brent-Krueger grew to be one of the largest coin supply dealers on the internet. Our sales channels included the internet, mail order, and a walk-in dealer showroom and retail outlet in NJ.

Since the economy "bagged out," we saw the supply industry as a whole decline. Much had to do, as some forum members have suggested, with many collectors moving to slabbed coins. Also, after a brisk business during the Statehood quarter program, many of the newer collectors began to grow weary of collecting with the inception of the National Parks series. They began to question whether, or not, the coins they were collecting will really appreciate in value anytime soon. Of course, we all know the answer to that question. Additionally, with the spike in bullion prices, we saw many of our customers selling off their gold and silver collectibles, since in many cases the coins were worth more in bullion value than they were worth as collectible coins.

While it is true that we sometimes put money into the business to improve cash-flow, at no time did the business lose money, even at the end. Declining sales forced us to reduce the staff and I found myself working harder and making less. After speaking with the CPA that handled our business accounting and the CPA that handles our tax accounting, and agonizing since the latter part of November, I decided that closing the business was our best option. This was a purely-economic decision. Without knowing when business would return to pre-recession levels, and whether the coin collecting hobby would recover, I felt my involvement was too much to warrant the money I made after the employees and supply manufacturers were paid.

I appreciate all of the business the CoinTalk community sent my way over the years. The kindness of our customers is what kept us in business all of these years. In closing the business, we kept our promise of customer privacy and didn't sell any of our customer lists or any other customer-related information.

As I write this, I'm sitting on my "lazy-boy" recliner, with the family dog at my side. I'll be relaxing for awhile, before I decide what the next chapter will be. I wish everybody happiness and good health (and good collecting, of course).

--Andrew Auletta

 

Than you for informing us .

 

Welcome Mr.Andrew,
Thanks for the update

 

Sorry for your woes and wish you the best in whatever comes your way in the future.

 

Andrew,

Thank you for your response. My original inquiry into this matter was due to the fact that I needed some pages for a few of my Dansco's and, as I had ordered from your company in the past (distant as it may be), I was amazed that it was no longer operational. You folks always treated me well and I wanted to give your outfit first crack at my numismatic supply needs. As much as I am saddened by your companies demise I can take heart and joy in the fact that all appears to be well in your current situation. Good luck to you, dear fellow, and in all that you hope to accomplish in the future.......but I daresay that relaxing on the 'lazy boy' seems most appealing.

 

Just thought I'd log in and say hello. While I miss the business, I'm still relaxing, as is the family dog. I convinced the wife to retire at the end of December so that maybe we can do some traveling. Hope everyone is doing well, and that your collections are still growing.

 

Retirement is nice! No one asked if you had personal collections and how they are doing? I have ordered from your former business many years ago, excellent service.

Jim