Disclaimer

Growth Projections: When we make projections, we try to be conservative. We always take into account what has happened in the past-as well as what we believe will happen in the future. We carefully consider:

Past Performance-We base our projection for rare coin prices in part on the history of rare coin performance. If rare coins made gains under certain economic conditions in the past, they have the potential to gain if similar conditions exist in the future.

Economic Forecasts-For the next three to five year period and for the next ten year period, we use our economic forecasts to determine the kind of economic environment we expect to see. Our economic forecasts are based on in-depth research into the cycles that govern the economy.

Supply and Demand Factors-We take into account not only the fact that supply and demand factors have changed over the past 20 years, but also how we expect these factors to be positioned in the future.

At present there are estimated to be more than five times as many people collecting and investing in rare coins than there were in the early 1960's even though the surviving number of original mint condition rare coins has not increased. We firmly believe that many more people will enter the rare coin market in the future. We project that this increase in demand will have a significant impact on the growth potential of rare coins.

There is no assurance that our growth projections will be achieved, and it is even possible that, in some instances, prices may go down. We do not guarantee our forecasts or projections. But we can and will always strive to give you what we believe is the most accurate picture of the future. And we will continue to recommend the rare coins and bullion that, in our opinion, have the greatest long-term potential.

Grading Standards: Park Avenue Numismatics uses the Numerical Grading System, MS/60 to MS/70. "MS" ("Mint State") classifies the coins we sell as being Uncirculated or mint state. Typically, the higher the grade is, the more the coin is worth. A grade is assigned to the coin based upon the coin's overall eye appeal, luster, marks and scratches, and the sharpness of its strike. Grading is a subjective art, and is subject to the opinion of the person(s) grading the coin. Grading is not a science and can not rely on precise and definitive analysis or evaluation. Even when common grading standards are applied, grading can and does vary from rare coin firm to rare coin firm, from grading service to grading service, and from expert to expert. Grading standards have changed in the past and could change in the future. However, National Coin Depository has strived to maintain consistent grading standards and will continue to do so in the future.

National Coin Depository' Coin Grading System: National Coin Depository initially places original mint-condition coins into one of 11 major categories. Each coin is hereby categorized or graded according to its condition. This allows single coins to be assigned on of five single grades, and rolls and sets of coins to be assigned one of National Coin Depository' four single grades.

While some single coins grade the same on both sides, many do not. For example if a coin grades MS/63 on one side and MS/63 on the other, our grading system would assign that coin a grade of MS/63. Another coin might grade MS/63 on one side and MS/65 on the other. In that case, our grading system would assign a grade of MS/63+, because each side of the coin grades MS/63 or higher.

When National Coin Depository grades rolls or sets of coins, MS/60+, MS/63+, MS/64+, or MS/65+, it means that all of the coins in each roll or set will fall within the grade assigned to that roll or set. For example, any coin in a roll or set graded MS/63+ will grade at least MS/63 or higher. No single coin in that roll or set will grade lower than MS/63, and it is likely that any single coin in that roll or set will grade MS/64 or MS/65 on both side. These grading standards allow Park Avenue Numismatics to most accurately describe the coins it sells in rolls or sets.

Risk Disclosure: The purchase of coins may involve some risk. The value of the bullion coin (a coin that has little or no numismatic value) is determined primarily by the spot or market price of bullion which fluctuates daily. The value of a numismatic or rare coin is determined, in large part, by its perceived scarcity and quality, which could and does fluctuate independently of bullion prices. Accordingly, both bullion and rare coins can go down, as well as up, in value.

Prices: National Coin Depository' prices may be higher or lower than prices you might find elsewhere, in accordance with our purchase price, but we feel our prices reflect the quality of coins we handle, the effort we put into obtaining such quality coins and making them available to you, and our guarantee of authenticity and grading.

Holding Period: We strongly recommend a holding period for rare coins of at least three to five years, preferably five to ten years. A number of factors may cause prices to fluctuate during the short term. However, based upon our economic analysis and the past performance of coins during certain economic cycles, we feel that over the long term the price trend for rare coins is upward.

Buy-back Policy: Our buy-back policy is not a guarantee. It is a policy. Therefore, it is subject to change. Our present buy-back policy is to repurchase coins from our customers at "our" then current "bid" price, which is determined by several factors including published industry reports and supply and demand factors.