<== Site of the Week for 2019-03-06 ==>
Rust Rare Coin Receivership
I was fixing broken links today and was really sad to find that Rust Rare Coin bit the dust. I decided to look up the history of the company.
The shop was founded in 1966.
Alvin Rust, an avid collector of Mormon collectibles, was one of the victims of the Mark Hoffman forgeries in the 1970s. He wrote a book about money created by Utah State and the Mormon Church (pictured to the right)
Gaylen Rust inherited the firm. The company started a "Silver Pool" in 2013. In 2018 the US Commodity Futures Trading Corporation filed suit against Rust claiming the investment to be a ponzi scheme worth $170 million. Reportedly the company never invested in any silver.
Rust Rare Coin Receivership has resources for those affected by the bankruptcy.
Note, I never did business with the firm. I just liked the name "Rust Coins."