Image by Flickr user Joe ShlabotnikImage by 20080807coins.jpg Maybe your grandmother knew what she was talking about: Al Parish's coin collection ended up being worth $1.25 million, in the end.
In a surprising account of accuracy, one of convicted economist Al Parish's financial moves paid off: his coin collection. The collection went for $1.25 million at auction in Florida, as the Charleston Regional Business Journal reports, marking a 47 percent return.
Keep up with Al Parish stories on our topic page.But that is tempered, as the Journal points out, by the more than $60 million that was lost by investors, generally. In the end, it's just an interesting postscript to a collection of failures.
From the Charleston Regional Business Journal:
Parish’s coin collection brought in $1.25 million at auction in June in West Palm Beach, Fla., according to a letter the court-appointed receiver mailed to investors July 31. Parish paid an estimated $850,000 for the coins, according to the receiver, Hays Financial Consulting.
The story goes on to talk about efforts to retrieve money lost to investors by Parish's failed investment pools. As far as other Parish news, as far as we know, he's still being held at the U.S. Penitentiary near Atlanta. We'll let you know if that changes.