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What do you guys think about the ANA's $40 million coastal museum plans?

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    BECOKABECOKA Posts: 16,961 ✭✭✭
    I see a lot of remarks that should never had been said. They are based without fact or research. The ANA sent all of its members a flier specific to this topic explaining just about all of these questions. unfortunately I have recylced mine but the gist of it was that the money would be raised outside of the normal operating budget. They have hired a company to help do this. $0 from the endowment and regular operating budget will be used.

    If they cannot raise the $40 million needed the money will be returned to the donors and the museums will not happen. As far as I can tell they are about half way there now and will probably do it.

    As far as the original question, I think this is a great venture. It is a fantastic way to get more exposure the fantastic history and art behind coin collecting.
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    ZoinsZoins Posts: 34,482 ✭✭✭✭✭
    Thanks for the update BECOKA. Your post makes it sound a bit more promising.

    This is more like it image

    image
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    CoinHuskerCoinHusker Posts: 5,034 ✭✭✭
    Thanks BECOKA, that information is very helpful and clears the muddy waters. Do you happen to remember if the on-going operating budget of these facilities was addressed? Will it be taken care of by donors as well, or will that on-going aspect of the idea be funded by the operating budget of the ANA. Thanks.
    Collecting coins, medals and currency featuring "The Sower"
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    RWBRWB Posts: 8,082
    A cooperative venture with the Smithsonian, much as is done to support the Smithsonian Postal Museum via the USPS, would make the most sense. This could possibly allow development of a Money Museum dedicated to coins, currency and related items. With the huge BEP archives only blocks away, the US Mint HQ on 9th Street, and immense art work archives nearby, the possibilities are present for a major education, preservation, protection and research facility.

    Can it get done? Money is probably the least of the problems. It will take a dedicated couple of folks to make this happen in Washington.
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    BECOKABECOKA Posts: 16,961 ✭✭✭


    << <i>Thanks BECOKA, that information is very helpful and clears the muddy waters. Do you happen to remember if the on-going operating budget of these facilities was addressed? Will it be taken care of by donors as well, or will that on-going aspect of the idea be funded by the operating budget of the ANA. Thanks. >>



    This was address and I don't remember all of the details. I don't think any of the operating expenses will have to come from the endowment or the regular operating budget. I remember that the SF Mint museum would be give a percentage of the proceeds to the ANA after everything is established. These museums will also be fully staffed and I am not sure how they would be paid but most likely from admission fees and donations not related to the ANA.
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    BECOKABECOKA Posts: 16,961 ✭✭✭
    Another tidbit:

    The ANA's stance was that if they don't do this now they may never be able to do it. The space is available now and will not be in a few years. I admire the fact that they are getting outside help and perspective to make sure that it gets done correctly.
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    I don't think much of the ANA and won't think much of them until the information comes out on where the funds for the "legal defense fund" went. I don't see that happening and I think that is pretty darn sad.
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    MichiganMichigan Posts: 4,942


    << <i>A cooperative venture with the Smithsonian, much as is done to support the Smithsonian Postal Museum via the USPS, would make the most sense. This could possibly allow development of a Money Museum dedicated to coins, currency and related items. With the huge BEP archives only blocks away, the US Mint HQ on 9th Street, and immense art work archives nearby, the possibilities are present for a major education, preservation, protection and research facility.

    Can it get done? Money is probably the least of the problems. It will take a dedicated couple of folks to make this happen in Washington. >>




    They will have to wade through the maze of internal Smithsonian politics that have been rather ugly lately in order to get something
    like this accomplished, in that sense the ANA should feel quite at home. (sarcastic smile symbol goes here.)
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    orevilleoreville Posts: 12,292 ✭✭✭✭✭
    I am wondering if the ANA could think about jump starting a museum in New York by contributing to her "sister" organization, the ANS (American Numistmatic Society) enough money to allow the ANS to complete their plans for their New York City headquarters (and/or move to another one) and to consider this an investment in their "sister" organizations and in return have a "wing" named in honor of the ANA and its largest benefactors.

    What makes this intriguing is that the ANS already has the personnel and organizational infrastructure in place to run the museum and classrooms and being that the ANA only needs a part-time presence in New York, this could be a marriage in heaven.

    As long as the ANA would accept the ANA being in charge of the facility with a permanent "right to use" leasehold in place; this would be the most cost effective approach of all.

    Everyone wins here.

    The same approach should be undertaken with the US MInt in Philly, Smithsonian in DC and SF Mint in SF as others have already astutely mentioned here.
    A Collectors Universe poster since 1997!
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    RWBRWB Posts: 8,082
    The Smithsonian part can be relatively painless and timely provided a curator is heading the project. Anyone lesser will get crushed. The Postal Museum’s biggest roadblock was construction/renovation money. The curator, Jim Bruns, defied Sr. management and pushed through with plans. Later, the same folks praised his initiative.
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    orieorie Posts: 998
    It’s a fantastic undertaking. If the coins from the Smithsonian are put on display and to be using old San Francisco Mint will be even better. Remember, 40 million ain’t what it used to be.
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    SteveSteve Posts: 3,312 ✭✭✭
    Chris Cipoletti spells out how they plan to raise the $40,000,000 in a "Spring Report", available for download at the ANA web site, www.money.org . This 4 page pamphlet will also be sent to every member. As I've said before, the CONCEPT is great. The execution is problematic in my opinion. I don't want to rain on everyone's "hope" that this becomes a reality, but the bottom line is still M O N E Y. Chris says he will not invade the operating budget and I believe him. Unless there is one, two or a few great numismatic benefactors out there willing to fund this project, I can't see where the money will come from. Maybe a bank loan? But that would be a debt to the ANA. Is there any financial wizzards out there that can show me how a 31,000 member organization with total assets of less than $24 million dollars and total annual revenue in fiscal year 2006 of less than 7 million dollars can raise $40 million dollars from contributions in the next five years? Anyone? Steveimage
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    MrEurekaMrEureka Posts: 24,690 ✭✭✭✭✭
    Is there any financial wizzards out there that can show me how a 31,000 member organization with total assets of less than $24 million dollars and total annual revenue in fiscal year 2006 of less than 7 million dollars can raise $40 million dollars from contributions in the next five years? Anyone?

    Would you vre-elect them if they show you how it can be done?
    Andy Lustig

    Doggedly collecting coins of the Central American Republic.

    Visit the Society of US Pattern Collectors at USPatterns.com.
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    MichiganMichigan Posts: 4,942


    << <i>Is there any financial wizzards out there that can show me how a 31,000 member organization with total assets of less than $24 million dollars and total annual revenue in fiscal year 2006 of less than 7 million dollars can raise $40 million dollars from contributions in the next five years? Anyone?

    Would you vre-elect them if they show you how it can be done? >>




    I got that four page fold out pamplet in the mail from the ANA. Very interesting timing I would say and not a coincidence with the ANA
    election coming up. My vote however is still "throw the bums out".
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    SteveSteve Posts: 3,312 ✭✭✭


    << <i>

    Would you vre-elect them if they show you how it can be done? >>



    Andy,
    I don't see these as linked. The new board may very well continue this "project" if there really is substance in it. I believe this is really Chris Cipoletti's "baby" and it might just be a way for him to save his job IF we get a new 7 member board of governors and they begin testing Chris.
    Steveimage
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    MichiganMichigan Posts: 4,942


    << <i>

    << <i>

    Would you vre-elect them if they show you how it can be done? >>



    Andy,
    I don't see these as linked. The new board may very well continue this "project" if there really is substance in it. I believe this is really Chris Cipoletti's "baby" and it might just be a way for him to save his job IF we get a new 7 member board of governors and they begin testing Chris.
    Steveimage >>




    If a board of reformers gets elected I'm sure the "testing" will happen very quickly when they are presented with the dreaded "confidentiality" agreement to sign. I would suspect however that he may well put that whole thing on the back burner at the
    start since he knows what he will be up against on that issue.
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    elwoodelwood Posts: 2,414


    What happened with the building in Baltimore idea? (or whatever that was??)


    Please visit my website prehistoricamerica.com www.visitiowa.org/pinecreekcabins
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    TwoSides2aCoinTwoSides2aCoin Posts: 45,035 ✭✭✭✭✭


    << <i>Would you re-elect them if they show you how it can be done? >>




    I got that four page fold out pamplet in the mail from the ANA. Very interesting timing I would say and not a coincidence with the ANA election coming up. My vote however is still "throw the bums out". >>


    Could you elaborate on exactly WHO the bums are image and why ?


    Thanks,


    Joe
    a.k.a.
    another ANA member
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    bidaskbidask Posts: 14,057 ✭✭✭✭✭
    Why San Francisco? They can't even support a major national coin show that I am aware of........
    I manage money. I earn money. I save money .
    I give away money. I collect money.
    I don’t love money . I do love the Lord God.




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    MichiganMichigan Posts: 4,942


    << <i>Why San Francisco? They can't even support a major national coin show that I am aware of........ >>




    Big tourist city, with the right promotion a museum could work there. Such a museum I think it going to be more for attracting
    non collectors than people who already collect.
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    BECOKABECOKA Posts: 16,961 ✭✭✭


    << <i>Why San Francisco? They can't even support a major national coin show that I am aware of........ >>



    Because the SF Mint is already planning a museum with funds from the recent commemorative among other sources. The ANA would be able to get space at this ideal location (Already coin related) if they act now.
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    CoinHuskerCoinHusker Posts: 5,034 ✭✭✭
    Having said all that, I still wonder if there is a need for bi-coastal museums. Is there really a demand or interest in three such national facilities by the general public. What kind of attendence does the current ANA Money Museum attract annually? Will 2 additional facilities generate that much more interest?


    Just think of all the local outreach, help of local clubs, etc. that could be done to promote the hobby in a grass roots manner that $40 mil could do.
    Collecting coins, medals and currency featuring "The Sower"
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    dbldie55dbldie55 Posts: 7,750 ✭✭✭✭✭
    I reading the article, part of the 40 mil is going to the one in Colorado Springs. The SF museum makes since as it is tied to the existing project at the old SF Mint. DC makes sense as it is a huge historical tourist spot, and the coins are a big part of history. Perhaps they can get the Smithsonian to allow them to display some of the items they have hidden away.
    Collector and Researcher of Liberty Head Nickels. ANA LM-6053
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    dorancoinsdorancoins Posts: 2,095 ✭✭✭


    << <i>The $40 million that they want to raise will not happen because most of the members in the ANA do not have deep pockets. Also, I would not be surprised if dues and the cost of services go up significantly just to keep such museums going.

    Michael - This seems like reckless and inflammatory speculation, unless you as a candidate have inside knowledge of the ANA's plans. So tell us, what makes you think that the ANA plans to get this money from the membership? >>



    MrEureka - I oppose this wacky museum idea because the ANA needs to get its financial house in order. 4 straight years of deficits, which is not good (even for a not-for-profit organization like the ANA). As far as fund raising, 33,000 members will not be enough without possible increases, and outside sources may not be enough either. $40 million is a lot of money to most of us.

    Now, as far as your claim of "inflammatory speculation", I am not a political insider and thus have no inside knowledge of what the regime in power plans to do. I just feel that the ANA needs to get its act together before doing bigger things. It really makes sense, at least to me.
    DORAN COINS - On Facebook, Instagram, X (formerly Twitter), & www.dorancoins.net - UPCOMING SHOWS (tentative dates)- 2/26/2026 - Joliet, IL
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    dorancoinsdorancoins Posts: 2,095 ✭✭✭


    << <i>

    << <i>

    Would you vre-elect them if they show you how it can be done? >>



    Andy,
    I don't see these as linked. The new board may very well continue this "project" if there really is substance in it. I believe this is really Chris Cipoletti's "baby" and it might just be a way for him to save his job IF we get a new 7 member board of governors and they begin testing Chris.
    Steveimage >>



    Steve - Mr. Cipoletti will be tested for sure. image
    DORAN COINS - On Facebook, Instagram, X (formerly Twitter), & www.dorancoins.net - UPCOMING SHOWS (tentative dates)- 2/26/2026 - Joliet, IL
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    dorancoinsdorancoins Posts: 2,095 ✭✭✭


    << <i>Chris Cipoletti spells out how they plan to raise the $40,000,000 in a "Spring Report", available for download at the ANA web site, www.money.org . This 4 page pamphlet will also be sent to every member. As I've said before, the CONCEPT is great. The execution is problematic in my opinion. I don't want to rain on everyone's "hope" that this becomes a reality, but the bottom line is still M O N E Y. Chris says he will not invade the operating budget and I believe him. Unless there is one, two or a few great numismatic benefactors out there willing to fund this project, I can't see where the money will come from. Maybe a bank loan? But that would be a debt to the ANA. Is there any financial wizzards out there that can show me how a 31,000 member organization with total assets of less than $24 million dollars and total annual revenue in fiscal year 2006 of less than 7 million dollars can raise $40 million dollars from contributions in the next five years? Anyone? Steveimage >>



    I got a copy of that in the mail. I read it and really shook my head in disagreement. And they wasted money to print and mail this goofy "report". Can anyone say "Ponzi Scheme"?
    DORAN COINS - On Facebook, Instagram, X (formerly Twitter), & www.dorancoins.net - UPCOMING SHOWS (tentative dates)- 2/26/2026 - Joliet, IL
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    MarkMark Posts: 3,635 ✭✭✭✭✭
    Michael:

    Setting aside the question of whether or not the museums are a good idea, the pamphlet does not describe a Ponzi scheme. If you are unsure of what a Ponzi scheme is, try here where Wikipedia defines it. If you are aware of what a Ponzi scheme is, then you should also have been aware that its use in this issue is inappropriate. You may as well have said "Can anyone say 'wet chicken'?" because it makes as much sense.
    Mark


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    ziggy29ziggy29 Posts: 18,669 ✭✭✭


    << <i>Setting aside the question of whether or not the museums are a good idea, the pamphlet does not describe a Ponzi scheme. If you are unsure of what a Ponzi scheme is, try here where Wikipedia defines it. >>

    Or just say "Social Security." But I guess a Ponzi scheme is legal when the government does it. image
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    TrimeTrime Posts: 1,863 ✭✭✭
    I think the proposal to create new and expanded venues for Numismatics is terrific. Raising the money may be challenging but the numismatic community has grown financially in the past decade and there are likely to be institutional and possibly federal support possibilities. Sorry to the nay sayers but it strikes me as a bold but creative idea.
    Trime
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    ziggy29ziggy29 Posts: 18,669 ✭✭✭


    << <i>I think the proposal to create new and expanded venues for Numismatics is terrific. Raising the money may be challenging but the numismatic community has grown financially in the past decade and there are likely to be institutional and possibly federal support possibilities. Sorry to the nay sayers but it strikes me as a bold but creative idea. >>

    I like the idea in concept but I want to know where the money is coming from. If it's coming from numismatic entities which could be party to a dispute before the ANA, the potential conflict of interest is a major concern.
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    ZoinsZoins Posts: 34,482 ✭✭✭✭✭


    << <i>Just think of all the local outreach, help of local clubs, etc. that could be done to promote the hobby in a grass roots manner that $40 mil could do. >>

    How many clubs would request assistance? Would clubs be able to reach out to the non-community-oriented collector as well as museums could?

    A few clubs ask for assistance here but many don't which leads me to believe that many clubs think the status quo is fine.
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    2ndCharter2ndCharter Posts: 1,736 ✭✭✭✭✭
    I'll ask the same question I asked in another thread - why don't a couple of the multi-millionaires on the ANA Board just write a check out of their petty cash funds?

    Member ANA, SPMC, SCNA, FUN, CONECA

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    ziggy29ziggy29 Posts: 18,669 ✭✭✭


    << <i>I'll ask the same question I asked in another thread - why don't a couple of the multi-millionaires on the ANA Board just write a check out of their petty cash funds? >>

    For the same reason a lot of multi-millionaire politicians want to raise taxes on the middle class.
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    ZoinsZoins Posts: 34,482 ✭✭✭✭✭


    << <i>why don't a couple of the multi-millionaires on the ANA Board just write a check out of their petty cash funds? >>

    Maybe they'd perfer to use $40m as a down payment on a painting image
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    EagleEyeEagleEye Posts: 7,677 ✭✭✭✭✭
    It seems that the funding is going to come from the interest from the endowment.

    The brochure that the ANA sent out says " How can we afford not to do this now? If we don't immediately seize the opportunities in Washington D.C. and San Francisco, the opportunities of building museums in those cities will disappear."

    Boy, we need to act quick! image

    The consequences will be that the endowment interest will be sucked dry for 10 to 15 years, possibly forever. These ideas are not moneymakers, they are money drainers.

    Although, once again, it may be too late, I think the ANA should have concentrated on membership retention and adding new members before considering expansion. With the Internet, many similar organizations are downsizing physical location and expanding on-line. Sure, the ANA is doing OK on-line, but is this really a benefit to the membership?
    Rick Snow, Eagle Eye Rare Coins, Inc.Check out my new web site:
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    ZoinsZoins Posts: 34,482 ✭✭✭✭✭


    << <i>I think the ANA should have concentrated on membership retention and adding new members before considering expansion. With the Internet, many similar organizations are downsizing physical location and expanding on-line. Sure, the ANA is doing OK on-line, but is this really a benefit to the membership? >>

    This is a valid issue. If more and more of the ANA is going to be driven by three physical museum locations, will the ANA remain as relevant to the majority of their current membership or do they need to start attracting a different, perhaps more geographically concentrated, membership?
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    CoinHuskerCoinHusker Posts: 5,034 ✭✭✭


    << <i>It seems that the funding is going to come from the interest from the endowment.

    The brochure that the ANA sent out says " How can we afford not to do this now? If we don't immediately seize the opportunities in Washington D.C. and San Francisco, the opportunities of building museums in those cities will disappear."

    Boy, we need to act quick! image

    The consequences will be that the endowment interest will be sucked dry for 10 to 15 years, possibly forever. These ideas are not moneymakers, they are money drainers.

    Although, once again, it may be too late, I think the ANA should have concentrated on membership retention and adding new members before considering expansion. With the Internet, many similar organizations are downsizing physical location and expanding on-line. Sure, the ANA is doing OK on-line, but is this really a benefit to the membership? >>




    Thanks Rick,

    You managed to concisely say what I've struggled to convey through out this thread.



    I just think of all the local outreach, help to local clubs, etc. that could be done to promote the hobby in a grass roots manner, not to mention the presence it could continue to generate on-line that this energy, man power and money could do instead.
    Collecting coins, medals and currency featuring "The Sower"
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    ZoinsZoins Posts: 34,482 ✭✭✭✭✭


    << <i>I just think of all the local outreach, help to local clubs, etc. that could be done to promote the hobby in a grass roots manner, not to mention the presence it could continue to generate on-line that this energy, man power and money could do instead. >>

    How many clubs would be receptive to the outreach and possibly changing their roles to more proactive ones? I haven't seen too many clubs ask for assistance here ... probably the same number as those that have been reported to close.
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    CoinHuskerCoinHusker Posts: 5,034 ✭✭✭
    Every one likes to be "feel" important whether they actually are or not. Possibly, more local clubs don't reach out for "help" is because they already feel they aren't "important" enough to the ANA to ask for it. Just a thought.
    Collecting coins, medals and currency featuring "The Sower"

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