Northwest Territorial Mint: the bad and not so bad ... ANS possibly to provide help

Discussion in 'Coin Chat' started by calcol, May 13, 2018.

  1. calcol

    calcol Supporter! Supporter

    There is already a thread about how the principals of this company were accepting money for bullion but not delivering ... and now they have been arrested. Link to thread:

    https://www.cointalk.com/threads/another-swindler-former-northwest-mint.315527/#post-3066826

    Coin Week article link:

    https://coinweek.com/people-in-the-...int-president-ross-hansen-indicted-for-fraud/

    However, there is a bit more to the story. NWTM bought Medallic Arts Company (MACO) in 2009. MACO has been a leading producer of medals since 1903 and has a large minting facility in Nevada. Among MACO's customers is ANS. NWTM is in bankruptcy along with MACO, and the trustee plans to liquidate MACO's property including its thousands of dies. Many of these dies were designed by leading sculptors and medal artists of the 20th century. ANS is negotiating with the bankruptcy trustee to buy the entire collection through 1996. This would be a win-win situation. The creditors would get partial payment for what's owed them, and ANS would acquire a fabulous collection of medal dies. It would also allay the anxiety of current owners of the medals that have been produced, some of which are quite valuable. If the dies don't go to ANS, they could be sold to others who would put them to work making new medals from the old dies.

    Read details at: http://www.coinbooks.org/v21/club_nbs_esylum_v21n18.html#article1

    Cal
     

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