Noble is coining it

published 9 January 2012

Shares in Noble Investments, the international rare coin and stamp dealer, became highly collectible on Monday morning as the company said full year figures for 2011/2012 will come in ahead of market expectations.

The firm made sales worth $31m at the New York Sale last week including $25m from the sale of the Prospero Collection of ancient Greek coins.

Its subsidiary, Baldwin and Sons, has also won two big sales which will boost revenues.

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The first is a run of over 1200 "Milled British and Colonial Branch Royal Mint Sovereigns".

The second is a collection of 4000 rare Islamic coinage items to be sold during London Islamic week in April 2012.

Ian Goldbart, Managing Director of Noble, commented: "This pipeline of auction consignments stretching over the next 18 months demonstrates the high regard with which Baldwin's is held within the numismatic collector's community and represents an important base of revenue for the Group going forward into 2013."

Noble's shares have gained 50% in the last 12 months. The shares rose 8.5p to 185.5p on the raised profits guidance. Prior to the company lifting expectations, the sole broker covering the company was forecasting profit before tax in the year to August 31st, 2012, of £3.3m, up from £3.00m the year before, on sales of £13.2m (2010/11: £12.7m).