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 Replies: 22 / Views: 2,436 |
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Valued Member
United States
144 Posts |
I believe that this statment has gone a long way in clearing up some of the "trade secrets" that Noe has been trying to protect.
The whole "trade secrets" & witholding documentation thing has been about as clear as mud to me.
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Pillar of the Community
United States
2724 Posts |
I have been getting emails through the night on this subject from across the country. SFDukie has the numbers right. There is supposedly a bit of a grey area about the last 25 million. With a total of 54 Million, 10 to 15 missing is HUGE.
As of now, the accounting is strictly off of merchandise. Once the coins are actually brought to market, there will be a whole new number presented. If they are marketed as "Ohio coin fund" coins, many dealers will be looking for the bargains and the values will drop considerably.
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Pillar of the Community
United States
1247 Posts |
The password is Coingate.  "...I hardly slept the night you wept; Our secret's safe and still well kept Where even Richard Nixon has got soul. Even Richard Nixon has got soul..." The Campaigner--Neil Young Edited by longnine009
05/27/2005 09:02 am
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Pillar of the Community
United States
1247 Posts |
"Look Ma, I'm on top of the world!" James Cagney--White Heat. It's going National: http://www.forbes.com/work/feeds/ap...2061850.htmlIt's not that coins are a real threat to wallstreet--a trillion dollar industry, it's that scandels in hard assets are a great deverison from wallstreet's corruption. One of the fininacial mags in the 70's caused a stir when they said coins dealers had the business ethics of street beggars(that may have been forbes too, but I can't remember exactly who it was). I suspect finanical publications are going to go town now trashing coin dealers and coin collecting.  "...While in the streets of all our fears They reign supreme as orders go They are the last to have their say..." The Vultures Fly High--Renaissance |
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Valued Member
United States
421 Posts |
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Rest in Peace
United States
2684 Posts |
quote:
Originally posted by Stujoe
Just saw this one pop up today:
Noe Resigns US Mint Position
http://www.wtol.com/Global/story.asp?S=3402603
He's gonna be too busy for the next few years defending himself to "advise" the Mint on coin designs. He might be better off consulting with Martha Stewart on the design of his cell. |
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Rest in Peace
United States
2884 Posts |
Hi Folks! I think the media had better sit down in the same room and discuss "the numbers" being batted about. I have not read two articles that agree on the total $$$'s missing, the actual claimed "profit"(missing or rolled over) how many "holding areas" the hard assets actually reside in, when the second “distribution” was made and recently what year Noe was actually hired! (1998, Before Bush was elected! Early on it sounded like old George personally helped him get the contract, oh well Democrats can still blame the "State" Republicans!) And lo! and behold all was well for Oh, about 5 years! This whole story smells rotten and as the "facts" are uncovered I think we'll all be surprised at how far this smell travels. Mike  |
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Forum Mom
 United States
5877 Posts |
I think there are going to be a lot of conflicting reports now that the situation has more media coverage. We will probably have to wait for the dust to settle a little before we see the true numbers.
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Pillar of the Community
United States
2724 Posts |
I have gotten a few emails from various reporters concerning the "coin investment" market, and all are looking for the "BAD" news. I tried to direct the conversation to the good side, but all claimed that people assume that this is the exception rather than the norm. Bad news is good news, and that is what sells newspapers. While I would never defend the actions taken by this dealer, I suggest that we remember the source of these facts, and what it takes for these facts to make the news.
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Pillar of the Community
United States
1247 Posts |
Scandals always get confusing once politicians start doing their Lil Pig Dance. However, the state attorney doesn't appear to be dazed or dazzled by any of it. As for the numbers, Noe himself says there's 10 million missing and that's big enough. This isn't even close to being over. Here's another redflag: "...the funds should be realized in stages..." Noe quoted in CoinWorld 5/30/05 pg 8. As if this is some kind of huge glut that might depress the market.  As auctions go today 50 million is barely running with the big dogs. "Stages" IMO, is about this: C'mon guys everyone check their pockets now. "Mr. Greed, why you got to own everything that you see? Mr. Greed, why you put a chain on everybody livin' free? You're hungerin' for his house, you're hungerin' for his wife, And your appetite will never be denied. You're a devil of consumption; I hope you choke, Mr. Greed..." Mr.Greed--John Fogerty Edited by longnine009
05/28/2005 7:20 pm
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Rest in Peace
United States
2684 Posts |
quote:
Originally posted by toast
Noe should get a bunch of lousy coins and get them graded by "Gallery Grading company" as MS66 and he'll be in the clear. LOL.
I don't know for certain, but I suspect the Capitol Coin Grading Service might be related to this whole mess. CCGS is just another "personal grading company" which highly overgrades coins, e.g. jacks up a slider AU-58 to MS-67 thereby cranking its "book value" from, say $20 to $45,000. If this hypothesis is correct, the missing money might be in devaluation of coins which went from $15 Mill down to just a few thousand. Noe's Capitol Coins and Capitol Coin Grading Service are just too close in name to be labelled coincidence IMNSHO. I could be wrong... |
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Pillar of the Community
United States
1247 Posts |
Apparently the Noes are moving to the 60Minutes state. Guess I should have seen that coming. Goosh, I hope he's not coming here to take remedial arithmetic. [:p] http://toledoblade.com/apps/pbcs.dl...24/505280414"Looks like she's going down fast;--(insert Boston accent) better make mine a double." Ted Kennedy on the Titanic. Satire by Capitol Steps Edited by longnine009
05/29/2005 08:32 am
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Rest in Peace
United States
2884 Posts |
Gee whiz, who would think that wealthy businessmen and women would contribute large sums of money to their political parties! This is soooo un-American I just don't know what to to think! Maybe they did off the missing coins to China! Not that anything like that ever happened at the White House before! Nah,that wouldn't be anything new.(at least not to Democrats').(slap, ouch, chill, I'm only poking fun) Mike
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Rest in Peace
United States
954 Posts |
Ouch....! Collect, Don't invest..!!!
catman
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Pillar of the Community
United States
1247 Posts |
I think it's pretty clear what happened to those
coins--Billy Carter came back from dead and stole
them.
"..There was chest on chest of Spanish gold with a
Ton of plate in the middle hold
And the cabins riot with stuff un told As
They lay there that had took the plum
With a sightless glare and their lips struck dumb
While we shared all by the rule of thumb
Yo ho ho and a bottle of rum..."
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Replies: 22 / Views: 2,436 |
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Posted 05/27/2005 08:16 am
