New Agreement Means Discounts for ANA Members from Collateral Finance Corporation
The American Numismatic Association has selected Collateral Finance Corporation (CFC) of Santa Monica, Calif., as the exclusive official numismatic lender of the Association. As part of the agreement, ANA members will have the opportunity to obtain discounted rates on loans.
CFC, a wholly-owned subsidiary of A-Mark Precious Metals, Inc., is a licensed California finance lender that provides loans to dealers, collectors and traders in the rare coin and bullion market.
“The agreement between the ANA and CFC will offer our members a new benefit of membership and a financing alternative. Collectors can leverage the value of their coins to obtain loans for making other numismatic purchases, or to get money for buying a car or house, or for school tuition. CFC loans to dealers can quickly and easily help them improve liquidity and expand inventory to generate greater profit,” said Chris Cipoletti, ANA Executive Director.
“There’s growing demand for capital to fund the investment in rare coins and bullion. CFC offers competitive lending rates to dealers and traders, and we expect to expand these lending services to individual collectors through our new relationship with the ANA,” explained Greg Roberts, CEO of A-Mark and its parent company, Spectrum Numismatics International.
CFC provides loans on monthly, six-month or one-year terms with an origination fee, according to Thor Gjerdrum, CFO of A-Mark and CFC.
“After in-house numismatic experts value the coin and bullion assets of borrowers, CFC offers final loan amounts totaling up to 70% of the collateral value of coin assets, and 90% of the collateral value of bullion assets,” Gjerdrum explained.
As an introductory offer, ANA members can receive a special 9.99% fixed rate for six months with no fees or hidden costs through September 15. CFC will announce other special discounts for ANA members in the future.
Subject to certain limitations, loans from $10,000 to $5 million or more can be made on coins that are part of an investor’s collection, in a dealer’s inventory or in the process of being independently certified for authenticity and grade by Numismatic Guaranty Corporation (NGC) or Professional Coin Grading Service (PCGS). Coins held as collateral can be returned within 24 hours. For more information about CFC, call 310-587-1410 or visit www.cfccoinloans.com.
Originally Release Date: July 30, 2007
ANA Contacts: Phone: 719-482-9864
Email: pr@money.org