$250 Million Rare Coin Fund

yahoo News

A new joint venture has been launched by a team that includes a veteran professional rare coin dealer and a Wall Street money manager to assist investors with acquisition and management of numismatic and precious metals items. 

“The investment community has a need for alternative investments that are truly uncorrelated with traditional investments. Using rare coins as an asset class and investment vehicle provides an opportunity for investors to diversify their investment portfolios. We plan to have a diversified family of investment funds and services to be able to address alternative investments and financing needs, from the private investor to even institutional investors.”

 A source with knowledge of the strategies who asked for anonymity, said one of the funds is expected to reach $250 million comprised primarily of U.S. coins certified by either Professional Coin Grading Service or Numismatic Guaranty Corporation

 The custodian of the partnership assets initially will be First State Depository Company, a level three, high security facility in Delaware that stores precious metals and rare coins for investment banks, brokerage firms, refining companies, commodity trading houses, precious metals retailers, coin dealers and individual investors.

Posted on December 15, 2011 at 7:21 pm in Uncategorized   |  RSS feed |   Reply   |   Trackback URL