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The E-Sylum:  Volume 10, Number 34, August 26, 2007, Article 14

IRANIAN INVESTS IN BALDWIN'S PARENT, PLANS TO ADD MEDALS AND BANKNOTES

According to The Telegraph August 21, a new investor in the
Baldwin's and Noble numismatic firms plans to branch out into
other collectible areas.

"The Iranian-born Tchenguiz has ploughed £2.5m into Noble Investments,
which sells antique coins out of a shop it owns on the Strand in
London.

"The company has raised an extra £300,000 from a placing with
institutional investors such as Allianz Cornhill. Collins Stewart
placed a total of 1.5m shares at 185p a share.

"Noble plans to use the funds to expand into stamps, in collaboration
with expert philatelists Andrew Claridge and Andrew Lajer.

“The deal will give Mr Tchenguiz an 8pc stake in the enlarged
group. It is the latest in a string of investments he has made
this summer, including a £40m stake in an alternative investment
fund launched by Nicola Horlick and a £900,000 bet on £45m
energy fund Sigma alongside Sir Tom Hunter.

"Noble ... bought 135-year-old coin dealer Baldwins at the end
of 2005, and has since moved into profit. In the first half of
the year, turnover almost doubled to £5.2m, while pre-tax
profits quintupled to more than £1m. It has a stock market
value of £30m.

"Baldwins traces its origins back to the Victorian era when
founder Alfred Baldwin began trading coins. Among the treasures
handled by the company is an Edward III double florin that
fetched £460,000 at auction, a record sum for a British gold coin.

"Mr Goldbart, a former stockbroker, also wants to move into
areas such as military medals and bank notes. But he said:
"We won't move into paintings or furniture as we don't have
the room."

"He declined to comment on whether Noble would buy rival
Stanley Gibbons, which operates from a neighbouring store."

To read the complete article, see: Full Story

  Wayne Homren, Editor

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