I'MMA LET YOU FINISH
Nope.
Isn't rare coin collecting kinda, well, elitist?
Ah, Ohio Republicans. Corrupt and weird in so many ways... but they still can't beat Florida for corrupt weirdness.
That must drive them nuts.
goddam, opportunities in 2006 are looking better and better.
Why are you so surprized? Sounds like Ohio was a pre-cursor to the attack on Social Security.
regards
.
I offer Phyllis Schlafly as a burnt offering to Ba'al.
Rare coins??? Bullshit on that action. Comic books are your best investment, and I've got a shitload of 'em in the basement. Who wants a copy of "Hero for Hire" #1 for $10,000?
Does anyone know how we can find out which two house members and aides to which two senators attended that Schlafly thing where Stalin's name -- and words -- were invoked? I want to give them all a call.
I find rare coins delightful, but as far as investing the taxpayers money in same, I find highly reprehensible. I wonder if the Ohions know where their money is going. This needs to be broadcast about the land. And the coins are in the care of one person???? Ohyeah, funny business going on there.
Elitist? Ha!
It's a high risk venture...someones' gonna hafta want to buy your coins at the price you want, else they're only good for being melted down for their precious metal content which may or may not be more than the facevalue of the coin.
regards
.
Holy Shit!!! Are they *trying* to make our job easy in '06?
Rare coins? NY AG just settled a major case scamming rare coins.
I'm telling ya - rare Franklin Mint decorative plates.
They're the next Microsoft, especially the Elvis series.
"And the coins are in the care of one person"
As long as each coins' serial number is recorded there is no problem...except coins don't have serial numbers...oooopppss!
regards
.
well, since the trust fund is empty....
Oh my god, and Madame Alexander dolls.
They Bought 10 Million of these:
http://www.americanmint.com/prod...n=170%2D033%
2D2
Ba'al says that the word for today is 'sloth.'
All in favor?
How about beanie babies, next. They should buy the retired ones. They will only go up up up in value. Yeehaw!
Wow...how comforting my fucking workers comp premiums are going into coins. I hate these fucks.
This program is mandatory for all businesses in Ohio...but funny thing, the state has a monopoly on providing WC coverage. Seems the party that believes in private enterprise over gvt programs just doesn't believe in competition for this program.
When I first started my biz there was no catagory to classify my wierd job, so they took a look at the machines we used and charged our premiums at 10% of payroll. I quickly decided that using these machines to make certain things wasn't worth it, and dropped that part of the biz. My premiums went down a bit, but are still outrageous...so much so that my wife is classified as clerical and can't run a machine because the premiums for her would skyrocket.
I fucking hate these bastards.
This could be big.
Fiduciaries in the State of Ohio are held to the Prudent Man Rule. There probably are specific statutes about investment of state money, but I can't imagine that numismatic investments would be held to be prudent. Gotta do a little research.
So typical ...
Actually, there are a lot of these things opening up nowadays - it started with the "hard asset" funds, initially real estate and timberland, then oil/mineral rights and royalties, then pharma royalties. Now the bleeding-edge is stuff like art funds, music royalty deals, direct investments in energy private deals, stuff like that.
What I would say about rare coins is that coins have always been a particularly sleazy asset class (lots of rip-offs historically). So that alone is a warning. Then, there's no way I would commit $50 million to an asset class as unproven as rare coins. It's not that $50 million is anything but the tiniest blip within Ohio's overall portfolio, it's that if I give this guy $50 million, he's going to be getting a bunch more from other places. I wouldn't be sure the asset class could handle that level of new entrants, so I probably wouldn't give a rare coin fund much money initially until the asset class proved itself.
Holeee Shit!!! This is how my father in law lost over $35,000 of my in-laws' retirement money. Exactly how.
He put it into gold and rare coins and it was a king size scam.
It's actually very handy to carry some rare coins around with you, in case you ever really want something from a rare vending machine.
How about beanie babies, next.
Barbie dolls? Cabbage Patch Kids?
Is it me or does it seem that repugs are scheming to get their hands on any and all monies held in public trusts?
Just seems to be in the news alot about repugs attacking fund managements and coming up with some off-the-wall investments that looks to put more money in their pockets than for the people of the trusts.
regards
.
I'm telling ya - rare Franklin Mint decorative plates.
I've got a Simpsons plate someone gave me for my birthday about ten years ago...
Aha! Now we know - there is such a thing as an economics buff, and he's in charge of the Rare Coin Division in Ohio.
Wowza!
Moad-Dib | Email | Homepage | 04.09.05 - 2:29 pm | #
It's not just you! I'm thinking the same way.
OT, but holden has some pretty amazing pics up at first draft from the protests in Iraq.
Brilliant! What's next, baseball cards?
Thersites,
that reminds me....a good place to find old and rare coins in circulation is Miami. Lotta homes get broken into and the thiefs aren't too smart about old coins so they spend them in the stores. I sure picked up a load of silver coins there.
regards
.
I'm investing my retirement in vintage power pop magazines and vinyl. Oh, and an 8-track of Get the Knack.
Atrios,
you mean the Norman Reckewll memorial stuff from the Franklin Mint isn't really valuable? Damn, and oh well, there goes your pension!
my dad has a nice collection of avon decanters, circa 1970s...
a good place to find old and rare coins in circulation is Miami.
Indeed. That's also a good place to find pennies in every single corner of a new house or new apartment. I lived in several, and they were always there...
I guess great minds think alike.
"On December 6 1994, Orange County, a prosperous district in California, declared bankruptcy after suffering losses of around $1.6 billion from a wrong-way bet on interest rates in one of its principal investment pools. The pool was intended to be a conservative but profitable way of managing the countys cashflows, and those of 241 associated local government entities. Instead, it triggered the largest financial failure of a local government in US history....
Lessons Learnt:
- Beware the unconstrained star performer ... ;
- If the organisational structure, planning and risk oversight mechanisms of an institution are fractured, it is easy for powerful individuals to hide risk in the gaps ... ;"
Read it and think it over, Ohio. Consider what it would be like to be known as IOU-hio.
-- Dog
I collect cats. The appreciation in value sucks on the open market, but heck they are warm and fuzzy. Looks like I am ahead of Ohio.
Today is just insane. We got far-righties invoking Stalin ADMIRINGLY (weren't they calling Kerry a commie a few months ago because he quoted LANGSTON HUGHES?), Joe Klein's ass-rocketry, and Jesse Helms' little Roy-Cohn-Wannabe's nuptials. And now this.
"I try to be cynical, but I just can't keep up."
I'm speechless.
Could be worse, they could've invested in comic books!
I suspect a portion of the GOP promised a revolution and as of the last few days, it has arrived. However it is more like a battered shoebox with a used condom in it than a revolution. I said it the other day, we keep thinking they are bulding an empire but their ideas are more on the order of a beer and beefstick emporium.
gee i wonder if they would collect some rare bridges?
Graaaaack!!! Pieces of Eight!! Pieces of Eight!!! Pieces of Eight!!! Graaack!!!
Tom Noe's wife, Bernadette, was until very recently, the Chair of the Lucas County GOP. Rumors are spreading that there is a new, and bigger, scandal about to break about her time as the head of the local party.
Two years ago when Democratic Rep. Marcy Kaptur was accused of claiming that some of the Founding Fathers were similar to Al Qaida, it was Bernadette Noe who initially was pushing the story (shoe hoped to ride the "scandal" into a rare Lucas County GOP win in the House. Her candidate, Larry Kaczala, failed disastrously)
You know what we should do? Write letters to the editor pointing out this fiasco. Lets make them the laughing stock of the year.
Alert! Alert! Wayward comment on your little blog! Scrub! Scrub!
Joe Klein's ass-rocketry
There's one problem I have with this ass-rocket thing, it fails to account for Eshaton's stupidest troll, (ass)hat.
These motherfuckers are getting nowhere near my Star Wars Action Figure collection.
Just sayin....
I have a suitcase full of my kid's Pokemon Cards. Now, when I bought them my kids told me they were very rare, especially the foil one's.
Do you think Ohio would buy them from me?
Picachuuuuuuuuuuuuuuu! I love that little guy!
"...was accused of claiming that some of the Founding Fathers were similar to Al Qaida, it was Bernadette Noe who initially was pushing the story..."
One of my ancestors was a founding citizen of that county - Toledo's county, right? - and he was a patriot through and through.
I am so damned sick of Dems being painted - and allowing themselves to be painted - as disloyal and disconnected from our great heritage.
Do keep us posted on the scandal. Ohio seems to be ripe for a major blow up.
I'll report back on the Prudent Man in Ohio ...
I heard they're working on an exciting "Tulip-based" investment strategy at the national. Based on the Dutch model.
More...here http://www.prestigeadvisors.com/
..._Bulb_Mania.htm
Nothing makes rare coins go up like an economy in the toilet. Man, there must be a lot of stupid people in Ohio ....
"More...here http://www.prestigeadvisors.com/ ..._Bulb_Mania.htm"
It's a Christian advisory firm.
Don't put anything past them.
The Mackay reference is probably to take the edge off 1stQ reports to clients.
Comparing one's management philosophy to the tulip mania usually is a tip that there's bad news - but not as bad as THAT.
Don't like the coin thing huh? How bout Troll dolls? Those plates with Judy Garland and Yul Brenner pics? Old Partridge Family luncboxes?
cosmic rays,
I shoulda googled deeper.
Oh the shame of it 
Invest in NASCAR commemorative plates. "That's Dale Earnhardt, that's Ricky Rudd and that's Richard Petty huggin' his momma."
Why is anyone surprised?
really?
ever since McKinley an Mark Hanna, the oligarchs have regarded the public treasury as their private piggy bank...
what we really need to see is a few of these bastards up against a wall pleading, weeping, grovelling, crying, and begging for their miserable, worthless skins...
"Ready...Aim..."
just sayin...
.
.
Meanwhile, Fat Eddie Schultz, from the Uppa US, is shilling for a gold-investment scheme...
Yes, THAT 'Fat Eddie,' friend of the left and the little guy, where America comes to talk...
Aincha proud?
I found a wheat penny and a siver dime. Who needs social security?!
attn: The investment of the people's money was a favor to Coin Dealer for contributing to the GOP.
(in case some of you didn't read it)
trolls probably don't read much...
maybe the goopers can invest in an emu farm next
not even considering the question of whether it's a wise investment or not (i have no idea really, i just know that most people collect coins more as a hobby than an investment), there is an obvious conflict of interest here.
I still have my comicbook collection. Spent 20 years on it from 1974-1994 before getting married and having to devote time to family.
But I figure what with the number of 1950's and 1960's silverage Marvels and DC I have it should be worth in the 100K range.
Does anyone want to invest social security in it?
MYOB'
.
I knew that 'Tom Noe' struck a note. But I wonder whether Ohio is aware of the really marvelous income opportunities there are to be found in rare, furbearing animals? Like the Tinka-belles?
Still, it seems as tho the good people of Ohio are asking the right questions:
Toledo Blade
April 6, 2005
"Investment of this kind can't be valued"
"The unexamined investment is not worth owning.
The Ohio Bureau of Workers' Compensation chief investment officer has lost sight of the economic function of an investment, which is to provide capital to an industry (stocks/bonds) or government agency (debt instruments) for a fair return.
Commemorative coins, like paintings and dot.com companies, produce no earnings, have no competitive advantage, and have an uncertain future.
BWC auditor Keith Elliott is merely saying "Show me the earnings." Investments without earnings cannot be valued. The questions he raises must be answered. The arrangement's language is bad and the math (five-year returns and profit splitting) stinks. I understand it's a small percentage of BWC's $18 billion fund. But to not grade Capital Coin because there were no similar managers to compare with is poor due diligence.
Why did Thomas Noe turn to stocks, a private real estate trust, and mortgages? And what do coins and real estate have to do with being an emerging manager? Real estate investment trusts have returned over 19 percent annually for the past five years and small cap value funds are over 15 percent for the same period. Mike Wilkinson and Jim Drew did good reporting. Keep asking questions.
JOHN KOLBECK
Perrysburg
Mr. Kolbeck is a retired portfolio manager and past president of Toledo Financial Analysts."
They Bought 10 Million of these:
http://www.americanmint.com/prod......n=170%2D033%
2D2
toc001 | Email | Homepage | 04.09.05 - 2:25 pm | #
LOL! It's a $10 coin that they're selling for... $5. I can see how they've been taking economics courses from Dubya. It would be funnier if this country wasn't so deeply in debt and rising by the second.
I've got some rare trash that's being collected by the odd garbageman, does that mean from now on I should give him a bill for one million dollars?
Slick financiers are so above me.
Gives a bad name to serious numismatists everywhere >
Jesus Christ, what next?? Investing in fucking Baseball cards? I can see it now: "The State of Ohio has appropriated 50 million dollars in state pension money to purchase the only known Honus Wagner card in existence. Secretary of State Blackwell has hailed this as a sound investment, and said politics had nothing to do with the decision, even though the Baseball Card broker is a major GOP contributor." My God! I really don't know if these people are evil or just plain garden-variety retarded. Rare coins?? I just don't know what to say.
what we really need to see is a few of these bastards up against a wall pleading, weeping, grovelling, crying, and begging for their miserable, worthless skins...
"Ready...Aim..."
Let's take that scenario one step further shall we? Tell the bastards they'll be allowed to live if they answer this one question: "What is it you're not supposed to yell in a crowded theatre??"
Ah, fun with wingnut stupidity. Gotta love it!
Now, when I bought them my kids told me they were very rare,
LOL!
I can still hear my son's little voice, "But, mommy, it's really rare. It's worth, like, 300 million dollars or something." Hoo, boy.
Thanks for the reminder. I need to go rub that one in his teenage face this afternoon.
It could have been Cabbage Patch Dolls or some other junktiques.
Or it could be stamps. Senator Sununu's daddy might have a few he'd like to sell them.
No shit, Bob Taft is Governor here. It's like having Mortimer Snerd run things. The local party outside Cuyahoga County is shot. These guys run things without any oversight on a good old boy basis. It's nuts.
Er, I had relatives that did "business" in rare coins years ago from their basement in SoCal.
They lived large--expensive cars, boats, houses, trophy mates, etc. then something happened and next thing I heard they went away to "college" for 3 to 5.
Yep. Coins.
Emu farms. Bitch!
Yeah, what a hoot. Rare coins. Whatta bunch o' losers. They should take a clue from the DINOS in N.M. (Bill Richardson et. al.) who are seriously considering investing in fine "art" ,through a real shady third party. Idiocy is not necessarily only in the Repukes.
Hey, I've got a great deal for OH. I saw on TV the other night that the Franklin Mint is selling double eagle gold coins. Normally this coin sells for $4 million or something like that but, through this ONE TIME tv offer (which I must have seen at least 20 times in the last month) you can have FOUR of em for $19.95. Go to it OH GOP!
Cool. Now I know I'm not living in the dumbest midwestern Red State after all.
Memo to Blackwell: They wouldn't do this in Indiana -- the state which can't even decide what time it is. Enough said.
"Tom Noe, co-chairman of Mr. Bush's campaign in northwest Ohio,..."
http://uawlocal14.org/News/Archi...7-
29KerryBG.htm
Hmmmm...
THis any worse than the Florida (that voice! where have I heard that voice?) move to invest teachers' pensions in the Chris Whittle Edison business, which not only trashes what teachers stand for but was losing money and not doing a very good job of education?
Whatever happened to that?
The Sad Clowns on Black Velvet that i inherited from my Dad are set to skyrocket any day now.
Uh, uh. What is wrong with these people? Ohio Dems, you guys need to change your state's leadership.
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"what we really need to see is a few of these bastards up against a wall pleading, weeping, grovelling, crying, and begging for their miserable, worthless skins..."
you going to play 'death squad' woody?
shocking.
-J.T.
Miami's great for old coins and Gold certificates (I actually received a c.1930 $50 gold certificate in change down there. Much of this stuff is coming in from S. America as are old '57 Mustangs etc.
Geeze. '57 T-birds. My bad!
I heard they're working on an exciting "Tulip-based" investment strategy at the national. Based on the Dutch model.
Paging John Law...will the Controleur Generale des Finances please pick up the white telephone.
I bet the coins have gone up more in value since 1999 than Enron stock has.
Or aol/time warner, Ebay, Krispy Kreme...
i don't know how many of you followed this story like I did from the begiining, (I worked at Ohio BWC for 9 years) but you might be interseted to know that two coins valued at several hundred thousand dollars were lost when they were sent FedEx. Would you send a rare coin Fedex?
The Ohio legislature, dominated by Republicans, is no smarter than Governor Bob Taft, a man Grover Norquist recently called the dumbest Republican in America.
Norquist is right, and that's saying something.
The Ohio legislature has struggled for years trying to find a magic formula to finance public education without taxing the rich and sending money to the poor districts.
The Ohio Supreme Court has ruled out using the property tax--it provides generous funding to local districts which are already well-off, and no help to those which need help.
So the legislature dithered and dallied, waiting for the Court to design a plan for them, since the lege refuses to tax people with money in order to help educate the children of people without money.
These motherfuckers should be roasted over a slow fire and then fed to dogs. They deprive people in need of the funding to educate their children, and then complain that, for some inexplicable reason, Ohio's children aren't acquiring the job skills they need to lift the state out of its current economic shitpit.
These people are every bit as dumb as Bob Taft if they think their latest 'solution' will work: allowing school districts to ask voters to approve bond levies to provide operating funds.
In other words, the lege is saying, 'we won't tax any voters to provide education to Ohio's children, but if your district wants to pay for the education of their own children, we graciously will let them do so.'
And these people are the responsible adults making public policy and law in Ohio. This state is an abomination, and its people are morons.
How many rare coins did Kenny the Good Negrowell get in the mail? A true example of sleaze,greed and ambition being colorblind.
I can think of a great protest where everywhere an Ohioan Republican goes to speak you throw pennies at his feet.
Tempting as it is to throw it at his head you really shouldn't since we now live in the land of unlimited dentention.
Pennies at their feet.
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