Author Topic: Appreciated when missing  (Read 229 times)

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Offline Figleaf

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Appreciated when missing
« on: September 12, 2012, 05:22:52 PM »
SpongeBob coins among missing Peregrine assets
By Ann Saphir, Sep 7, 2012

* Bankruptcy trustee discloses missing coins, gold

* Silver four-coin sets sold for $259 each

* Retail value of missing SpongeBob coins around $20,000


CHICAGO, Sept 7 (Reuters) - Hundreds of SpongeBob SquarePants silver coins thought to be in the possession of Peregrine Financial Group, the bankrupt commodities futures trading firm, have gone missing.

The disclosure that 304 silver coins sporting the image of TV cartoon character SpongeBob SquarePants could not be located was made in a court filing on Thursday by Peregrine Financial's bankruptcy trustee. Thirty-nine ounces of gold were also missing.

Cedar Falls, Iowa-based Peregrine Financial collapsed in July after its chief executive attempted suicide and confessed to having stolen millions in customer assets over two decades.

Compared with the $215 million in customer money that regulators allege were wrongly siphoned from the firm by the CEO, Russell Wasendorf Sr., the value of the missing metals is marginal.

At Friday's prices, the gold would fetch about $66,000; the missing commemorative SpongeBob coins, minted in New Zealand and sold in sets of four, have a total retail value of about $20,000.

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Source: Reuters
An unidentified coin is a piece of metal. An identified coin is a piece of history.