2nd Jun 2006 07:01
Avarae Global Coins PLC02 June 2006 AVARAE GLOBAL COINS PLC NEWLY LISTED AVARAE MAKES FIRST INVESTMENT IN RARE QUALITY COINS London (AIM: AVR) - 2 June 2006 - Since listing on the AIM market just over aweek ago, specialist investment company dedicated to the coin collecting sector,Avarae Global Coins plc ("Avarae") has made its first investment. Avarae haspurchased a collection of rare, quality coins from around the world to the valueof £550,000. Unique to the collection is a 1933 patented penny - thought to be one of onlyfour in the world. The collection boasts a number of unique European coins,including a collection of French gold coins and a William III 'Five Guinea'dating back to 1701. Sir John Wheeler, an experienced numismatist expert and a member of Avarae'sadvisory panel said: "We are particularly pleased to acquire the rare 1933 pattern penny coin,thought to be one of only four in the world, and are delighted to make such asignificant investment so soon." The investment was recommended to Avarae by Noble Investments and Avarae'sadvisory panel. - ENDS - For further information, please contact:Lauren Stewart/Gordon PuckeyPhoenix Financial PR+44 (0) 207 947 2857 / 6 NOTES TO EDITORS 1. Avarae Global Coins Plc ("Avarae" or "the Company") Avarae is a recently formed strategic investment company, whose strategy is toachieve long-term capital growth for its shareholders through the purchase,holding and collection of coins from around the world. 2. The Coin dealing sector The market for trading coins is international in nature and significant in size.The rare coins market has performed strongly of late, as a result of the growinginterest in and popularity of alternative investments. Provided sufficient due diligence is undertaken prior to the purchasing ofindividual coins or portfolios of coins, such investments can offer theopportunity for attractive returns. The market is, by nature, supply constrainedand should demand for coins continue to grow, this imbalance should supportrising prices over the medium to long term. The coin-collecting sector is fragmented and includes a number of private andprofessional collectors as well as investors, dealers and auction houses. TheDirectors of Avarae consider that the fragmented market provides opportunitiesfor the Company to establish a valuable collection of coins, with the addedpossibility of expanding the operations of the Company by way of acquisitions inthe sector. Nominated Adviser and Broker to the Company: Daniel Stewart & Company Plc. 3. Noble Investments (UK) Plc ("Noble") Formed in 2003, Noble Investments is the only rare-coin trading company quotedon AIM and the largest dedicated company of its type in this sector in the UK. Noble generates its revenue through numismatics - the science of studying money.Noble invests in coins itself, but also provides assessment and sale services toclients, including auctions. Noble purchased AH Baldwin & Sons and Baldwin's Auctions in November last year.Today, Noble has a wide range of global connections and is able to offer aprofessional opinion on coins minted in almost any country over the past 2,500years. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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