While uncirculated U.S. rare coins have provided excellent investment results historically, past performance is not an assurance of future results.  There is no guarantee, either stated or implied, that a collector or investor will realize capital appreciation or avoid loss of principal on any rare coin purchased through the advisor's services.  Investors in rare coins should expect price volatility during certain market periods, both positive and negative, and be capable of maintaining holding periods of from five to seven years. As a result, prudence would suggest that a numismatic portfolio not exceed 15% of an investor's total investment capital, excluding real estate.  The registered advisor, Wexford Capital Management (WCM), cannot guarantee a liquid market for U.S. rare coins in the future (nor can any rare coin dealer or broker), with firm bid and ask prices, even though the current market in U.S. rare coins is liquid with a growing number of buyers and sellers.  The grading of rare coins entails the utilization of qualitative & expert-opinion based, yet standardized observation criteria, that may be interpreted differently by the major professional grading services (PCGS, NGC, & ICG), coincidently and over time.  Lastly, WCM makes no representation as to having or providing current professional expertise in income or sales-tax related matters.