Business Services Industry
Escala Group Announces an Internet First: A 220-Pound Gold Coin in Online Auction
Business Wire, July 30, 2007
IRVINE, Calif. -- Escala Group, Inc. (Pink Sheets:ESCL), a global collectibles company in stamps, coins and militaria, today announced the most valuable coin ever offered in an online-only auction will be available on August 16, 2007 through Teletrade, Inc., part of Escala's Spectrum Numismatics division.
"This will be the first auction of the world's largest gold coin, a pizza-sized 100 kilogram coin recently produced by the Royal Canadian Mint. It weighs over 220 pounds and contains more than $2 million of gold bullion," said Ian Russell, President of Teletrade of Irvine, California, an online rare coin auction company (www.Teletrade.com).
"It's the most valuable coin ever offered in an online-only auction."
The coin was consigned by Teletrade's sister company, A-Mark Precious Metals, Inc. of Santa Monica, California, which recently purchased the first three 100 kilo gold coins made after extensive technical and artistic efforts by the Royal Canadian Mint.
"This huge coin is over 20 inches in diameter, an inch thick and contains a little over 220 pounds (3,215 troy ounces) of 99.999 percent fine gold," said Greg Roberts, CEO of A-Mark.
According to a May 3 announcement from the Royal Canadian Mint, creation of the 100 kilo coins presented "an imposing challenge" to Mint engineers with each step along the way requiring great care, skill and meticulous testing.
"This is truly an unprecedented coin with a combination of spectacular artistic craftsmanship and brilliant technical talent. Nothing of this caliber has ever been offered previously in an online-only auction," said Russell.
The auction coincides with the launch of Teletrade Direct, a new service to sell gold, silver and platinum bullion coins. Teletrade and A-Mark are divisions of Spectrum Numismatics International of Irvine.
For additional information, contact Teletrade toll-free at 800-949-2646 or by e-mail at info@Teletrade.com. Online at www.Teletrade.com and www.TeletradeDirect.com.
ABOUT ESCALA GROUP, INC.
Escala Group is a consolidated global collectibles network. The Company is a leading auctioneer of stamps, coins, arms, armor and militaria, and other memorabilia, targeting both collectors and dealers. Escala is also a merchant/dealer of certain collectibles and trader of precious metals. The Company's collectibles offerings span the modest to ultra high-end price spectrum. Escala conducts its operations in two business segments: collectibles and trading.
Escala's Group Companies focused on philately are H.R. Harmer and Nutmeg Stamp Sales of North America; Corinphila Auktionen of Zurich, Switzerland and the Kohler auction house of Wiesbaden, Germany from our European division; and John Bull Stamp Auctions, Ltd, the oldest philatelic auction house in Hong Kong in our Asia division. Escala's Group Companies in its numismatics division include Teletrade, Bowers and Merena Auctions, North American Certified Trading, and Spectrum Numismatics International, one of the largest wholesalers of rare coins in the U.S. Greg Martin Auctions is in the Company's art and antiques division.
The trading activities of Escala Group are conducted through A-Mark Precious Metals, one of the largest private sellers of bullion coins and bullion gold, silver and platinum to the wholesale marketplace.
SAFE HARBOR STATEMENT
Statements in this press release that relate to future plans, objectives, expectations, performance, events and the like are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and the Securities Exchange Act of 1934. Future events, risks and uncertainties, individually or in the aggregate, could cause actual results to differ materially from those expressed or implied in these statements. Factors that may cause such differences include changes in market conditions, changes in economic environment, competitive factors and the other factors discussed in the "forward-looking information" or "risk factors" sections included in Escala Group's filings with the Securities and Exchange Commission, including Escala Group's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, prospectuses and other documents that Escala Group has filed with the Commission. In particular, any statement related to Escala Group's expected revenues or earnings or Escala Group's being well positioned for future profitability and growth are forward-looking statements.
The words "should," "believe," "estimate," "expect," "intend," "anticipate," "foresee," "plan" and similar expressions and variations thereof identify certain of such forward- looking statements, which speak only as of the dates on which they were made. Additionally, any statements related to future improved performance and estimates of revenues and earnings per share are forward-looking statements. Escala Group undertakes no obligation to publicly update or revise any forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements.
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