$4 Million Guaranteed Auction To Take Place On Tangible Asset Galleries' Proprietary Auction Site.

LAGUNA BEACH, Calif.--(BUSINESS WIRE)--Aug. 18, 1999--

Company Launches Coin, Fine Art and Rare Collectibles Auction

Site Complete With Product and Authenticity Guarantees

Tangible Asset Galleries (OTC BB:TAGZE) Wednesday announced that it is hosting its inaugural auction on www.tagzinc.com, with merchandise totaling over $4 million in insured value.

Beginning four weeks before the sale, TAGZ implemented a marketing campaign in all the major numismatic publications, as well as one minute spots on CNBC, three days prior to the close of the auction. This sale consists entirely of high quality rare coins. Art and other fine collectibles will be featured in an upcoming online auction in October.

All merchandise to be auctioned through Tagzinc.com has guaranteed product authenticity, quality and deliverability assurances from Tangible Asset Galleries. Tagzinc.com is one of the first auction venues to provide such a 100% guaranty from the Company on all its auctioned items.

The Web site is expected to compete with other auctions sites that have recently entered into the high end collectible venue such as Ebay.com (Nasdaq:EBAY) purchase of Butterfield & Butterfield, and Amazon.com's (Nasdaq:AMZN) venture with Sotheby's (NYSE:BID).

Silvano DiGenova, CEO of Tangible Asset Galleries commented, "We are extremely pleased to have launched Tagzinc.com with such a fine auction. We believe that the quality and variety of merchandise we are offering on this auction is unprecedented in the online auction venue. This is one of the single largest sales in the Internet auction history. Our site, www.Tagzinc.com, is easy to navigate, full of valuable information and holds an incredible selection of merchandise."

"Tangible Asset Galleries chose to enter the online auction arena to enhance our existing retail and wholesale business, which is profitable and has been growing at approximately 30% annually to nearly $20 million in 1998. In addition, we feel that our site will bring the online auction business to a new level of accountability and quality. We are providing an opportunity for thousands of collectors and dealers to have access to Tangible Asset Galleries' unique and widely diversified items. We want everyone from the novice collector to the professional dealer to have equal opportunity to purchase our items," continued DiGenova.

"This auction will offer everyone an unparalleled chance to view and purchase high end items that are typically not offered on the other online auctions sites like Ubid.com (Nasdaq:UBID), OnSale.com (Nasdaq:ONSL), or Excite.com Auctions from Excite@Home (Nasdaq:ATHM). We have combined the years of experience of our seasoned staff with our far reaching contacts in the industry to provide this auction for our existing clientele as well as for any interested parties out there. Our goal is to continue to peak the interest of veteran collectors and professional experts while simultaneously educating and attracting novices to our business."

About Tangible Asset Galleries Inc.

Tangible Asset Galleries is a dealer in rare coins, fine art and other rare collectibles. The company's chairman has been one of the pioneers of the industry since 1977. The company operates in several different sectors of the art and rare coin business including: fine art retail sales, fine art wholesale, rare coins retail and rare coins wholesale. Tangible Asset Galleries has entered the Internet sector by launching an online auction forum, www.Tagzinc.com. Founded in 1984, Tangible Asset Galleries has established marketing plans for each of its targeted sectors. In addition, the company has a management team of seasoned and well-known officers. DiGenova, founder of Tangible Asset Galleries, also co-founded the Professional Coin Grading Service (PCGS), one of the leading independent rare coin authentication and certification services.

Included in this release are "forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations reflected in such forward-looking statements will prove to have been correct. The Company's actual results could differ materially from those anticipated in the forward-looking statements as a result of certain factors including sales levels, distribution and competition trends and other market factors.