A new joint venture, Certified Assets Management International, LLC (www.CertifiedAssets.com), "CAMI," has been launched by a team that includes a veteran professional rare coin dealer and a Wall Street money manager to assist investors with acquisition and management of numismatic and precious metals items.
CAMI is creating an assortment of products, services and investment funds including one that is looking to acquire up to $250 million of rare coins.
Formal announcement about Stamford, Connecticut-based CAMI will be made at the upcoming Whitman Coin & Collectibles Baltimore Expo, November 17 – 20, 2011.
CAMI’s principals are Robert L. Higgins, President of Certified Assets Management, Inc. in Wilmington, Delaware who earlier managed a rare coin fund that returned a 17 percent, $8 million profit in only four years for the state of Ohio, and Alberto Washington, a graduate of the Wharton School of Business and Managing Partner of Mercury Fund Management, LLC, also a Delaware corporation.
"Certified Assets Management has a proven track record of over a decade of successful rare coin funds management. This is an excellent time for the numismatic market and Wall Street to do it the right way," said Higgins.
"We’re merging the successful talents of an experienced rare coin trading company and an investment management firm to create Certified Assets Management International," said Washington.
"The investment community has a need for alternative investments that are truly uncorrelated with traditional investments. Using rare coins as an asset class and investment vehicle provides an opportunity for investors to diversify their investment portfolios. We plan to have a diversified family of investment funds and services to be able to address alternative investments and financing needs, from the private investor to even institutional investors."
Mr. Washington and Mr. Higgins declined to comment on the specifics of the strategies, citing Securities and Exchange Commission restrictions on private placement investments.
|CAMI’s principals are Robert L. Higgins (left), President of Certified Assets Management, Inc. in Wilmington, Delaware, and Alberto Washington (right), Managing Partner of Mercury Fund Management, LLC, also a Delaware corporation.|
However, a source with knowledge of the strategies who asked for anonymity, said one of the funds is expected to reach $250 million comprised primarily of U.S. coins certified by either Professional Coin Grading Service or Numismatic Guaranty Corporation.
The custodian of the partnership assets initially will be First State Depository Company, a level three, high security facility in Delaware that stores precious metals and rare coins for investment banks, brokerage firms, refining companies, commodity trading houses, precious metals retailers, coin dealers and individual investors.
For additional information about Certified Assets Management International, visit online at www.CertifiedAssets.com or contact Bob Higgins at Bob@CertifiedAssets.com or Alberto Washington at Alberto@CertifiedAssets.com.