Escala and Spectrum Sign Agreement Offering To Purchase Coins, Bullion and Other Assets
Published March 2nd, 2006
Press Release
Escala Group (Nasdaq: ESCL) today announced that Escala and its subsidiary Spectrum Numismatics International, Inc. have entered into an agreement with Development Specialists, Inc. (DSI), offering to purchase certain coins, bullion and other coin-related assets for US$7.5 million. DSI, the liquidator responsible for managing the disposal of the coin inventory and assets formerly owned and managed by affiliates of the Capital Coin Fund in Ohio, is currently in the process of soliciting additional bids for these coin assets in the open market. Included among the 3,400 plus items up for auction are a number of U.S. $10,000 bills and many US$2-1/2 and US$5 gold coins from the early 1800s. The bidding process is scheduled to end March 29.
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