Spectrum Group International, Inc. announced that the American Numismatic Association (ANA) has renewed Spectrum’s Collateral Finance Corporation (CFC) contract as the exclusive official numismatic lender of the ANA until 2011.

The ANA is a Congressionally-chartered, 32,000-member nonprofit association, and is the world’s largest organization dedicated to educating and encouraging people to study and collect money and related items.

CFC, a wholly-owned subsidiary of A-Mark Precious Metals, Inc., which conducts Spectrum Group International’s trading operations, provides loans to dealers, collectors and traders in the rare coin and bullion market. These loans, which are offered on monthly, six-month or one-year terms with an origination fee, are secured by the coin and bullion assets of the borrower, whether part of the investor’s collection or in the dealer’s inventory. CFC also provides loans against coins that are in the process of being independently certified for authenticity and grade by Numismatic Guaranty Corporation (NGC) or Professional Coin Grading Service (PCGS). CFC offers final loan amounts – ranging from $25,000 to over $5 million – of up to 70 percent of the collateral value of coin assets, and 90 percent of the collateral value of bullion assets, based on its in-house expert valuations of the collateral.

Greg Roberts, President and CEO of Spectrum Group International, Inc., commented, “The price volatility of precious metals continues to fuel greater interest in rare-coin collecting and bullion trading. With our experience in collateral lending, we formed CFC to meet the growing demand for capital to fund the investment in rare coins and bullion.”

Mr. Roberts continued, “Currently, CFC offers competitive lending rates to dealers and traders, and we have expanded these lending services to individual collectors through our dealer relationships and our renewed relationship with the ANA.” (more…)

Escala Group, Inc. (ESCL.PK) today announced that the Company has changed its corporate name to Spectrum Group International, Inc., effective immediately.

Spectrum Group also announced that Irving Kagan, age 73 and a member of the Board of Directors since July 2006, has retired from the Board of Directors and has been named as a special consultant to the Company, in each case effective May 19, 2009. Mr. Kagan, a former senior executive and general counsel of two major international companies, is an expert on corporate governance issues and the author of several treatises on the subject.

The Company also announced that Jeffrey D. Benjamin has joined its Board of Directors, effective May 19, 2009. Mr. Benjamin, age 47, is currently a Senior Advisor to Cyrus Capital Partners, L.P. Mr. Benjamin is a member of the Board of Directors of Harrah’s Entertainment, Inc., Exco Resources, Inc. and Virgin Media Inc., and is a trustee of the American Numismatic Society. He holds an MBA from the Sloan School of Management at M.I.T. and a BA from Tufts University.

Executive Chairman Antonio Arenas stated, “The Board of Directors greatly appreciates Irv’s dedicated service and invaluable assistance to the Company. It is a privilege to have worked with him as a colleague and an advisor, and we are confident that we will continue to call on his expertise going forward.”

“Spectrum Group is fortunate to have someone of Jeff’s caliber join our Board of Directors at this important point in the Company’s development,” said Greg Roberts, President and CEO. “With his financial experience and deep understanding of our business through his personal interest in collecting, he will be a valuable addition to our Board.”

Mr. Roberts continued, “The Company has undergone significant changes in the past few years, and our new name reflects those developments. Spectrum Group offers nearly 20 years of brand recognition as the name of our key rare coin wholesale subsidiary, and also conveys the breadth and scope of our collectibles and trading businesses, which now encompass precious metals, wine, rare U.S. and foreign coins, U.S. and foreign currency, U.S. and foreign stamps, and arms and armor.” (more…)