SPECIAL REPORT
Ohio agency sinks millions into rare coins
State gives investment business to prominent local Republican
Since 1998, Ohio has invested millions of dollars in the unregulated world of rare coins, buying nickels, dimes, and pennies.
Sunday, April 10, 2005
From the Toledo Blade: SPECIAL REPORT -- Ohio Agency Sinks Millions Into Rare Coins. State Gives Investment Business To Prominent Local Republican
http://www.toledoblade.com/apps/pbcs.dll/article?AID=/20050403/NEWS24/504030349
"Since 1998, Ohio has invested millions of dollars in the unregulated world of rare coins, buying nickels, dimes, and pennies. Controlling the money for the state is Prominent local Republican and coin dealer Tom Noe, whose firm made more than $1 million off the deal last year alone."
"The agreement to invest the money in rare coins is rare itself: The Blade could find no other instance of a state government investing in a rare coin fund. Neither the state nor Mr. Noe could provide one."
"Two coins worth roughly $300,000 were lost in the mail in 2003."
"Tom Noe, with Gov. Bob Taft, and Republican National Committee Chairman Ed Gillespie at a 2004 fund-raiser, has given more than $11,000 in contributions to both Mr. Taft and U.S. Sen. George Voinovich, a former governor, over the last decade."
"Mr. Noe is well-known in Columbus. Former Gov. George Voinovich appointed him to the Ohio Board of Regents and Gov. Bob Taft appointed him to the Ohio Turnpike Commission. He's now chairman of the Turnpike Commission."
"Mr. Noe is a former chairman of the Lucas County Republican Party who has given more than $11,000 in campaign contributions to both Governor Taft and Mr. Voinovich, now a Republican U.S. senator, over the last decade. He has given tens of thousands more to Republican candidates around the state."
"He worked hard to get President Bush re-elected last year; as chairman of the Bush team's efforts in northwest Ohio, he frequently talked with Karl Rove, one of the President's top advisers."
"He and his wife, Bernadette, who like Mr. Noe is a former chairman of the Lucas County Republican Party, own a $480,000 condominium on the Maumee River, a $600,000 home on Catawba Island, and a $1.85 million waterfront home in Key Largo, Fla. Ms. Noe is a local attorney."