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 Replies: 22 / Views: 2,423 |
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Pillar of the Community
United States
980 Posts |
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Rest in Peace
United States
2884 Posts |
Ou Ou that smell, can't you smell that smell(Skynard)....Reinvested, I guess not!
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Pillar of the Community
United States
2724 Posts |
I posted an article about the search warrant. The judge finally made it clear that all items are to be listed. This news is making some ripple effects in the community. Not exactly a favorite topic among dealers.
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Rest in Peace
United States
2884 Posts |
ND, what happens to a dealer or private party that may have unknowingly or otherwise ended up purchasing the "missing" (stolen) merchandise? Is this what's causing the ripple in the crowd? Mike
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Forum Mom
 United States
5877 Posts |
In that case, the ripples from this could be very far-reaching.....
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Pillar of the Community
United States
2724 Posts |
Yep, the paper shredders will be running hot tonight  |
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Pillar of the Community
Australia
1091 Posts |
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.
“...Tom Noe has irresponsibly mismanaged the monies...,” Stolen might be a better word.
I don't know if I have the facts right but...
If the investment fund had $15 billion in assets and only $10-12 million missing then that would be a small percentage loss to the investors.
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Pillar of the Community
 United States
980 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.
“...Tom Noe has irresponsibly mismanaged the monies...,” Stolen might be a better word.
I don't know if I have the facts right but...
If the investment fund had $15 billion in assets and only $10-12 million missing then that would be a small percentage loss to the investors.
Hi Toast, I don't know where this 15B number is coming from. Total, with reinvested profits, is 54.5M. This is getting lots of press as it involves coin investements, and the individual who controlled the investments was a big politcal contributor. Ohio state governor had fiercely defnded the investments in this fund, and had questioned the motives of those who were critical of the fund manager. Don |
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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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Replies: 22 / Views: 2,423 |
Posted 05/26/2005 7:26 pm
