Avarae NAV climbs on profitable disposals

Avarae Global Coins reports results for the year ended 31 March 2015. Its NAV per share increased to 14.9 pence (2014: 14.5 pence). It made sales of £630,000. Profit on ordinary activities of increased more than 50% to £380,000 up from £250,000. The full year dividend is maintained at 0.15 pence per share.

The carrying value of their portfolio of rare and high quality coins increased 5% to £11.14m from £10.62m and they had cash at period end of £880,000. Trading since the year end has been active, with the Company selling more than 150 coins and recording revenues of approximately £0.51m. Since 1 April 2015, the Company has also acquired coins with a value of approximately £160,000

Examples of coins acquired during the year include:

  • Henry VII (1485-1509), Fine Gold Sovereign of Twenty Shillings, Group IV (c.1502-1504), crowned full robed figure of the King seated facing on ornate throne with high canopy, holding orb and sceptre. Very rare. (picture from Baldwins)
  • Edward VI (1547-1553), Fine Gold Sovereign of Thirty Shillings, Third Period (15 December 1550 to 6 July 1553), Southwark mint, crowned full figure of King seated facing on ornate throne, holding orb and sceptre, portcullis below extending to rim, ornate throne back with large pillars. An extremely rare coin, as fewer than ten known to be held in private hands.
  • James I (1603-1625), Rose Ryal of Thirty Shillings, third coinage (1619-25), seated facing full figure of robed King with orb and sceptre, on throne with plain throne back and decorated background, portcullis below. Very rare.
  • Charles I (1625-1649), Unite of Twenty Shillings, Tower Mint under Parliament, group G, seventh crowned bust left, value in field behind. A superb coin, the finest known of this the final mark of the reign and of the highest rarity, as it is thought to be one of less than five available to collectors.

In terms of sales they say the highlight for the period under review was the sale of £0.5m of English gold coins. These sales represented a 39 per cent margin over the carrying value of these coins as at the 31 March 2014.

AVR : Avarae NAV climbs on profitable disposals


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