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View Full Version : Curt Schilling put up $5m in gold as collateral for loan



Sparky
1st June 2012, 07:43 PM
The Curt Schilling story has been big here in New England because he was a key star on the 2004 Red Sox championship team. In case you didn't know, after baseball he started a video game company. Massachusetts denied him huge tax breaks that he was looking for, so he moved his company to Rhode Island, where they guaranteed him $75 million in loans. Well, a year later and the company is on the brink of bankruptcy, and the Rhode Island taxpayers will be on the hook for the default.

Anyway, this side story showed up in the Boston Globe today. "The [3,200] 1-ounce coins, some 200 pounds of South African Krugerrands, Canadian Maple Leafs, and American Eagles, were stored at Coins ‘N Things Inc. in Bridgewater, according to the documents."

Interesting that he was a big gold guy, but he didn't take possession. I suppose it's possible he also has another stash in his possession.

http://www.boston.com/news/local/massachusetts/articles/2012/06/01/schilling_put_up_5m_in_gold_for_38_studios/?p1=News_links

Jersey Thursday
6th November 2013, 08:15 PM
Yeah, I’d want to store $5 million in gold at a place called Coins ‘N Things.

mamboni
6th November 2013, 08:54 PM
The Curt Schilling story has been big here in New England because he was a key star on the 2004 Red Sox championship team. In case you didn't know, after baseball he started a video game company. Massachusetts denied him huge tax breaks that he was looking for, so he moved his company to Rhode Island, where they guaranteed him $75 million in loans. Well, a year later and the company is on the brink of bankruptcy, and the Rhode Island taxpayers will be on the hook for the default.

Anyway, this side story showed up in the Boston Globe today. "The [3,200] 1-ounce coins, some 200 pounds of South African Krugerrands, Canadian Maple Leafs, and American Eagles, were stored at Coins ‘N Things Inc. in Bridgewater, according to the documents."

Interesting that he was a big gold guy, but he didn't take possession. I suppose it's possible he also has another stash in his possession.

http://www.boston.com/news/local/massachusetts/articles/2012/06/01/schilling_put_up_5m_in_gold_for_38_studios/?p1=News_links

That's the decoy stash. Smart guy, if totally crooked.