$300 Million Coin Fund!

MrEureka

Let's say that a $300 million publicly traded fund was established with the long term goal of building the finest collection of US coins. The collection would be a living, breathing entity in that its managers would constantly buy, sell and upgrade as they deemed (dismed?) prudent. The collection would be displayed at a major museum, so anyone could go visit it at any time.

Questions:

1. Would you consider investing in this fund?

2. If so, would you get vicarious pleasure out of the funds collecting exploits, or would it just be another financial asset to you?

airplanenut

Too many people have too many different tastes--- I wouldn't think it would be easy to assemble a collection where everyone likes everything, which is how a collection should be- you should like the coins it has.

Jeremy

stujoe

1. It would depend upon if the fund made money and how much it made, of course.

2. Just another asset. If it was at a museum near me, I might go see it. But, if I was going to invest in it, it better be under locked guard in some hidden, undisclosed bank vault in a climate controlled chamber. Surrounded by crocodiles.

kranky

No interest from me. The fund managers would disrupt the market trying to spend that kind of money, so they would probably overpay. On top of that, figure on yearly management fees. They'll probably want the finest coins, which would make it difficult to value the fund - if they acquire the 1933 Saint for $12 million, who's to say it is sellable for a profit?

I guess I'm leery of looking at coins as an investment.

boz

Absitively, posilutely, NO

Russ

1. No
2. No

Russ, NCNE

Coinosaurus

If the fund bought less expensive (i.e. more liquid) coins, and the amount of total capital was limited, AND I had total faith in the managers (not too many fall into that catagory!) I would consider putting a small amount of dough into it.

But - I already have such a "fund" going with my own personal collection

itsnotjustme

No
& No

Julian

I would invest a portion of my commission that I earn to put it together.

It would be a big thrill, HUGE, as a matter of fact.

Coins would not have to be encapsulated.

Please submit my name, ASAP!!!!!

coinlieutenant

Nope.

Sounds like the thing Les Fox is trying to do. It always sounded shady to me.

John

oreville

I will do Julian, one better....I would invest all of my commissions, after taxes to be able to be part of this wonderful project. Count me in!!

I believe I have a real collector's perspective as a buyer and could add interesting ideas to the project!

ohbaby

$300 million? That would limit the fund to buying the ultra rare and hence most volatile coins. What a crap shoot! I rather take my chances with ebay or Intel stock or even raw land.

A few months ago someone wrote about Spectrum Ventures [?] working with investors to put together a $2-3 million dollar fund to buy up certain series to drive prices up. Either way what goes up most come down with coins.

NumisEd

Andy, if you were one of the "managers", then I might say "yeah, ok", but if you were not part of the decision making team, then I would say, "bite me"..............in normal terms, that means "no".

jcping

Give me a break. Name a public fund who made $$$ on coin investment.

If you can't, why invest before you know you will lose.

hjohn74

Nope.

islemangu

Sounds fun to me....count me in with Oreville

MrEureka

I'd absolutely invest in this if I trusted the fund managers.

Windycity

No... takes all the fun out of "collecting." I like to seek out my own... no have a fund purchase on my behalf.

options26

Nope the fund would never make money becasue it's sole purpose is collecting and keeing the coins. What would happen if a major investor cashed in his shares of the fund? WOuld you need to sell the majority of your holdings? Hoping someone else invests so you can buy them again, at a higher price? I think the ANA did it better in starting a collection made by donations. If I want to see a display of coins, I heard of this little place in DC that has a pretty good collection.

cladking

It sounds a lot better than an investment fund.

I still wouldn't get involved probably but I'd keep an eye on it.

Gemineye

answer.1...maybe..if there's a decent rate of return for me.
answer.2.. there's always some pleasure in some adventurous investing

Longacre

From an investor's point of view, if it made money, I'd put a few million into it.

From a collector's point of view, it wouldn't be much fun.

RBinTex

Yes, yes, & (yes).

Nic

No, unless I was a manager.
No, " " " " " .

K

Cladiator

Questions:

1. Would you consider investing in this fund?Not in 300 million years

2. If so, would you get vicarious pleasure out of the funds collecting exploits, or would it just be another financial asset to you?N/A

PhillyJoe

Ohio tried a similar plan. It didn't work out to well:

1.Noe

2. Noe


Joe

roadrunner

Absolutely not. Way too bulky and obvious. Would rather be in a much smaller fund if run by a dedicated numismatist that I implicity trust......and there are very few of those around that care more about your returns than their own fees.

To all those dealers who sell top material, let's see how well your clients have done over the years. That's the real litmus test.
The client's interest should always be the priority. If the coin is not good enough for your own retirement account....it's not good enough for a fund.

roadrunner

options26

Not to mention, I have my own private fund that I keep contributing to, that is very similar to the one you mention.

RichieURich

I would be happy to help Julian in this project.

Except for the dealers who sell a million dollars worth of coins walking to the bathroom and back at a show, wouldn't $300 million pretty much dry up the coin market? And cause prices to rise significantly?

JapanJohn

Who would be in charge of this venture? Where's the prospectus

Until a prospectus appears I wouldn't even consider it, and then it would be doubtful then. I've had limited dealings in the coin world but I have had some not so limited dealings in the rare book world and found it to be full of confidence men and crooks.

I seriously doubt the coin world is any better.

John

MrEureka

I seriously doubt the coin world is any better.

It just depends who's running the fund. For example, if a Dream Team consisting of Russ, MadMarty and Lucy was in charge, it would be a slam dunk, right?

JapanJohn

LOL! The fund would have to have some serious controls placed on it or you'd see the Robin Hood syndrome in reverse.

John

Edited to add that I didn't mean that in regards to the three people mentioned. I meant that in general.

cladking

<< <i>I seriously doubt the coin world is any better.

It just depends who's running the fund. For example, if a Dream Team consisting of Russ, MadMarty and Lucy was in charge, it would be a slam dunk, right? >>




there ya' go. At least I'd know they were getting the best coins.

RichieURich

<< <i>I seriously doubt the coin world is any better.

It just depends who's running the fund. For example, if a Dream Team consisting of Russ, MadMarty and Lucy was in charge, it would be a slam dunk, right? >>



No, then all they would have would be DCAM Kennedys, So-Called Dollars, and Franklins. I think you could buy the entire mintage of these with $300 million.

cupronik

I would rather find the right coins and sell TO the fund.

Trime

1) ;-)
2) Maybe next lifetime

GAT

Anyone that would invest in a coin fund is a idiot as there's no liquidity. Where would you sell a 1913 Nickel or 1804 Dollar if you needed to fast? I believe Merrill Lynch started a coin fund years ago that didn't succeed.

Dabigkahuna

What's round on the ends and Hi in the middle?


I would need to see a prospectus first.

It's a noble thought and sounds like fun, especially if you were one of the managers but I think I would pass.



Larry
Dabigkahuna

Broadstruck

Where's the application to become a fund manager? The thrill of the hunt, even if your just a momentary custodian of each coin.

Almost like being adopted by Hetty Green.

tightbudget

1. Probably no
2. Just another financial asset