Western Australia based rare coin dealer, the Rare Coin Company has been placed into liquidation owing creditors millions. The Rare Coin Company dealt in coins such as proof shillings, pre-federation banknotes, gold sovereigns and star notes targeting medium to long-term investors.
The liquidation has left the future of hundreds of investors in limbo though liquidators remain confident coins and banknotes held by the firm will be returned to their rightful owners.
The Rare Coin Company has been operating since 1982 earning confidence through investors through their immediate liquidation guarantee. Liquidators attributed the company's failure to the global financial crisis of 2008, the collapse of John Petit Rare Banknotes, the government review of self-managed superannuation fund rules which led to a reduction in sales and their ill-fated decision to purchase Sydney dealer Monetarium.
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