Log in or Sign up
Coin Talk
Home
Forums
>
Coin Forums
>
Bullion Investing
>
Tulving in Trouble
>
Reply to Thread
Message:
<p>[QUOTE="Del Pinto, post: 2353845, member: 73128"]The Trustee’s deal apparently/presumably offers junk coins to the victims as settlement, at a <b>stated assumed 50% haircut.</b> (Bogus: see below.) The possibility of additional monies (from where else?!) is mentioned, namely:</p><p><br /></p><p>176,461 “Non-Error Coins” (estimated value $400,000.) to be sold at auction by June 30, 2016. After all costs and fees are deducted, I will guess the value of that coin lot $300,000.</p><p><br /></p><p>about.ag/pics/bk/TrusteeReport7.pdf</p><p>>>“I am informed and believe that the mass infusion of12,539 Error Coins into the market over a short period of time would represent a significant increase in the availability of Error Coins within the marketplace and would therefore substantially reduce the overall value of all Error Coins. I also believe that the Error Coins would likely require a number of years to fully be absorbed into the marketplace which would require that the Bankruptcy Case remain open with all of the attendant costs of compliance, including tax returns and distributions.* Based upon the foregoing, I propose to return the Error Coins directly to the Victim/Creditors in a ratable fashion based upon the valuation of $7,367,235 and the percentage amount of each such creditor’s allowed claim vis-à-vis all allowed Victim/Creditors’ claims.”<<</p><p><br /></p><p>*For example, assuming the total Victim/Creditors’ claims amounted to $15 million and the value allocated to the distribution of the Error Coins equaled $7.5 million, the Victim/Creditors’ Claims would be reduced by 50% ($15 million / $7.5 million) prior to additional distributions by the Trustee in the Bankruptcy Case.</p><p><br /></p><p>Total Claims = $17,915,425</p><p>Total Claims = 250 (Victims/Creditors)</p><p>Avg Claim per Victim = $ 71,662. (actually lower, because 100! victims didn’t file any claim)</p><p><br /></p><p>Now let’s look very, very carefully at the VALUE of these raw unslabbed “Error Coins” in various scenarios imagined:</p><p><br /></p><p>1) Total Value = + $20,000,000. (Collectors’ fantasy #)</p><p>Error Coin Value, per = + $ 1,600.</p><p>Proceeds Per Victim = + $ 80,000.</p><p><br /></p><p>2) Total Value = $ 11,384,000. (imrich/Tulving)</p><p>Error Coin Value, per = $ 908.</p><p>Proceeds Per Victim = $ 45,536.</p><p><br /></p><p>3) Total Value = $ 7,367,235. (Neilson/Standish)</p><p>Error Coin Value, per = $ 587.</p><p>Proceeds Per Victim = $ 29,469.</p><p><br /></p><p>4) Total Value = $ 3,017,718. (SS/DoJ)</p><p>Error Coin Value, per = $ 241.</p><p>Proceeds Per Victim = $ 12,070.</p><p><br /></p><p>5) Total Value = $ 376,170. (<b>SLABS</b>: eBay net: Jan/Feb 2016)</p><p>Error Coin Value, per = <b>$ 30.</b></p><p>Proceeds Per Victim = $ 1,500.</p><p><br /></p><p>6) Total Value = $ 213,163. (eBay net; <i>assumed depreciated:</i> Jun 2016)</p><p>Error Coin Value, per = $ 17.</p><p>Proceeds Per Victim = $ 853.</p><p><br /></p><p><b>Worse case scenario</b>: a creditor victim gets 250 Dollar coins to then package & dispose of, net $17./ea on feeBay, <b>recouping less than $ 0.02 on the Dollar on his/her initial "Tulving bullion" investment. </b>[/QUOTE]</p><p><br /></p>
[QUOTE="Del Pinto, post: 2353845, member: 73128"]The Trustee’s deal apparently/presumably offers junk coins to the victims as settlement, at a [B]stated assumed 50% haircut.[/B] (Bogus: see below.) The possibility of additional monies (from where else?!) is mentioned, namely: 176,461 “Non-Error Coins” (estimated value $400,000.) to be sold at auction by June 30, 2016. After all costs and fees are deducted, I will guess the value of that coin lot $300,000. about.ag/pics/bk/TrusteeReport7.pdf >>“I am informed and believe that the mass infusion of12,539 Error Coins into the market over a short period of time would represent a significant increase in the availability of Error Coins within the marketplace and would therefore substantially reduce the overall value of all Error Coins. I also believe that the Error Coins would likely require a number of years to fully be absorbed into the marketplace which would require that the Bankruptcy Case remain open with all of the attendant costs of compliance, including tax returns and distributions.* Based upon the foregoing, I propose to return the Error Coins directly to the Victim/Creditors in a ratable fashion based upon the valuation of $7,367,235 and the percentage amount of each such creditor’s allowed claim vis-à-vis all allowed Victim/Creditors’ claims.”<< *For example, assuming the total Victim/Creditors’ claims amounted to $15 million and the value allocated to the distribution of the Error Coins equaled $7.5 million, the Victim/Creditors’ Claims would be reduced by 50% ($15 million / $7.5 million) prior to additional distributions by the Trustee in the Bankruptcy Case. Total Claims = $17,915,425 Total Claims = 250 (Victims/Creditors) Avg Claim per Victim = $ 71,662. (actually lower, because 100! victims didn’t file any claim) Now let’s look very, very carefully at the VALUE of these raw unslabbed “Error Coins” in various scenarios imagined: 1) Total Value = + $20,000,000. (Collectors’ fantasy #) Error Coin Value, per = + $ 1,600. Proceeds Per Victim = + $ 80,000. 2) Total Value = $ 11,384,000. (imrich/Tulving) Error Coin Value, per = $ 908. Proceeds Per Victim = $ 45,536. 3) Total Value = $ 7,367,235. (Neilson/Standish) Error Coin Value, per = $ 587. Proceeds Per Victim = $ 29,469. 4) Total Value = $ 3,017,718. (SS/DoJ) Error Coin Value, per = $ 241. Proceeds Per Victim = $ 12,070. 5) Total Value = $ 376,170. ([B]SLABS[/B]: eBay net: Jan/Feb 2016) Error Coin Value, per = [B]$ 30.[/B] Proceeds Per Victim = $ 1,500. 6) Total Value = $ 213,163. (eBay net; [I]assumed depreciated:[/I] Jun 2016) Error Coin Value, per = $ 17. Proceeds Per Victim = $ 853. [B]Worse case scenario[/B]: a creditor victim gets 250 Dollar coins to then package & dispose of, net $17./ea on feeBay, [B]recouping less than $ 0.02 on the Dollar on his/her initial "Tulving bullion" investment. [/B][/QUOTE]
Your name or email address:
Do you already have an account?
No, create an account now.
Yes, my password is:
Forgot your password?
Stay logged in
Coin Talk
Home
Forums
>
Coin Forums
>
Bullion Investing
>
Tulving in Trouble
>
Home
Home
Quick Links
Search Forums
Recent Activity
Recent Posts
Forums
Forums
Quick Links
Search Forums
Recent Posts
Competitions
Competitions
Quick Links
Competition Index
Rules, Terms & Conditions
Gallery
Gallery
Quick Links
Search Media
New Media
Showcase
Showcase
Quick Links
Search Items
Most Active Members
New Items
Directory
Directory
Quick Links
Directory Home
New Listings
Members
Members
Quick Links
Notable Members
Current Visitors
Recent Activity
New Profile Posts
Sponsors
Menu
Search
Search titles only
Posted by Member:
Separate names with a comma.
Newer Than:
Search this thread only
Search this forum only
Display results as threads
Useful Searches
Recent Posts
More...