A West Australian-based company, which encouraged people to invest in rare coins and bank notes, has gone into liquidation owing private investors what is believed to be tens of millions of dollars.
The Rare Coin Company, based in Albany on WA’s south coast, encouraged investors nationally and overseas to purchase rare coins and notes which could then be sold at a profit.
The company focused particularly on encouraging Australian farmers to invest in the scheme.
It is understood the company has hundreds of creditors who together are owed millions of dollars.
Albany investor Rosalynd Sawyer says she had invested in the company for 10 years, but her attempts to sell her investments in the past 18 months have proved unsuccessful.
She says the…