Escala & Spectrum might get Capital Coin Fund coins at bargain price
Michigan
Posts: 4,942 ✭
Looks like a bargain to me anyway. I would hold out for some higher bids.
COMUNICADO: Escala and Spectrum Sign Agreement Offering To Purchase Coins, Bullion and Other Assets
Escala Group (Nasdaq: ESCL) today announced that Escala and its subsidiary Spectrum Numismatics International, Inc. have entered into an agreement with Development Specialists, Inc. (DSI).- , offering to purchase certain coins, bullion and other coin-related assets for US$7.5 million. DSI, the liquidator responsible for managing the disposal of the coin inventory and assets formerly owned and managed by affiliates of the Capital Coin Fund in Ohio, is currently in the process of soliciting additional bids for these coin assets in the open market. Included among the 3,400 plus items up for auction are a number of U.S. $10,000 bills and many US$2-1/2 and US$5 gold coins from the early 1800s. The bidding process is scheduled to end March 29.
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Europa Press
28/02/2006 (22:14h.)
Jose Miguel Herrero, chief executive officer of Escala, commented: "We are pleased that the open bidding for the rare coin assets in Ohio concludes our discussions with William Brandt of DSI in a positive and constructive process for all parties. Escala's and Spectrum's agreement with DSI resolves all disputes between the parties related to the Capital Coin Fund and the related activities in Ohio. If Escala and Spectrum have the winning bid for these assets, we will acquire a significant and diverse inventory that will be utilized across all of our Numismatic companies, including Spectrum, Bowers and Merena Auctions, NACT, Teletrade and A-Mark Precious Metals."
COMUNICADO: Escala and Spectrum Sign Agreement Offering To Purchase Coins, Bullion and Other Assets
Escala Group (Nasdaq: ESCL) today announced that Escala and its subsidiary Spectrum Numismatics International, Inc. have entered into an agreement with Development Specialists, Inc. (DSI).- , offering to purchase certain coins, bullion and other coin-related assets for US$7.5 million. DSI, the liquidator responsible for managing the disposal of the coin inventory and assets formerly owned and managed by affiliates of the Capital Coin Fund in Ohio, is currently in the process of soliciting additional bids for these coin assets in the open market. Included among the 3,400 plus items up for auction are a number of U.S. $10,000 bills and many US$2-1/2 and US$5 gold coins from the early 1800s. The bidding process is scheduled to end March 29.
Diccionario de Economía y Finanzas
¿No entiendes algún término?
Busca aquí
Europa Press
28/02/2006 (22:14h.)
Jose Miguel Herrero, chief executive officer of Escala, commented: "We are pleased that the open bidding for the rare coin assets in Ohio concludes our discussions with William Brandt of DSI in a positive and constructive process for all parties. Escala's and Spectrum's agreement with DSI resolves all disputes between the parties related to the Capital Coin Fund and the related activities in Ohio. If Escala and Spectrum have the winning bid for these assets, we will acquire a significant and diverse inventory that will be utilized across all of our Numismatic companies, including Spectrum, Bowers and Merena Auctions, NACT, Teletrade and A-Mark Precious Metals."
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Comments
It's not, really.
Didn't wanna get me no trade
Never want to be like papa
Working for the boss every night and day
--"Happy", by the Rolling Stones (1972)
better them than me
worse for the end buyers of this stuff
the coin game you gotta love it
a decent size auction itself.
that's not much in the way of scientific analysis...
Perhaps a different way of looking at it is that it's a large amount NGC graded coins owned by one of the largest utilizers of NCS's services.
<< <i>My understanding is that they are being auctioned online as we speak. >>
Do you know where TDN?
Thanks,
Don