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A-Mark Launches New Firm:
Collateral
Finance Corporation
(Santa Monica, CA) - A-Mark Precious Metals, Inc. of Santa
Monica, California, the largest full-service precious metals dealer in North
America, has opened a new subsidiary firm, Collateral Finance Corporation
(CFC), to provide fast, short-term loans to dealers.
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(Santa Monica, CA) - A-Mark Precious Metals, Inc. of Santa
Monica, California, the largest full-service precious metals dealer in North
America, has opened a new subsidiary firm, Collateral Finance Corporation
(CFC), to provide fast, short-term loans to dealers.
"Loans from
$50,000 to $5 million or more can be made on coins that are in the dealer's
inventory or in the process of being certified by Numismatic Guaranty
Corporation or Professional Coin Grading Service," said Thor Gjerdrum, Chief
Financial Officer of CFC, a licensed California lender.
"This gives
dealers an immediate opportunity during the hot rare coin market to leverage
their inventory to obtain cash for additional purchases of coins or bullion. It
lets dealers do more business because they'll have extra money available when
they need it. And, their coins held as collateral can be returned within 24
hours," Gjerdrum explained.
Dealers can also offer their retail
customers third-party financing for their purchases through CFC.
Loans
can be made on gold, silver, platinum and palladium bullion; US. and world
bullion coins; U.S. gold coins minted prior to 1933; modern issue U.S. Mint
products; rare coins; and generic Morgan and Peace dollars.
"To launch
the new service, we're offering a special financing rate in April.
Saint-Gaudens Double Eagles graded NGC or PCGS MS-63 or 64 can be financed for
three months at a fixed rate of six percent on minimum loans of $50,000 or
more. The loans also can be made on un-certified "Saints" while they are
submitted to NGC or PCGS," said Gjerdrum.
"CFC gives dealers an
immediate opportunity in a bull market to get cash to buy fresh deals by using
their existing inventory as collateral, whether that inventory is already at a
grading service or locked in the bank or stacked on the floor.
It lets
them make fast decisions and deals in the hottest numismatic market in
decades."
A-Mark is an Escala Group company. For additional
information, contact Collateral Finance Corporation, 429 Santa Monica Blvd.,
Suite 230, Santa Monica, CA 90401. Phone: (310) 587-1410.
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Media Contact:
Thor
Gjerdrum, (310) 587-1410 |
| Publication Date: 03/20/2006 |
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