Rust Rare Coin Receivership Information Page

On November 15, 2018, the United States District Court for the District of Utah appointed Jonathan Hafen of the law firm Parr Brown Gee & Loveless as receiver for the assets of Gaylen Dean Rust, Rust Rare Coin, Inc., Denise Gunderson Rust, Joshua Daniel Rust, Aleesha Rust Franklin, R Legacy Racing Inc., R Legacy Entertainment LLC, R Legacy Investments LLC, and their affiliates. Pursuant to the Appointment Order, the Receiver is in the process of liquidating and recovering assets.

Additionally, on August 30, 2019, the Receiver sent out over 4,000 claim forms to possible claimants. The deadline to submit all claim forms to the Receiver was October 4, 2019. At this time, the Receiver has begun analysis of the claims.

Please know that the Receiver and his team are working as quickly as possible to gather, preserve, and ascertain the distribution of assets of the Receivership Estate. The Receiver has received hundreds of claims from various stakeholders and is working on analyzing each individually. Please use the form below to provide questions and concerns regarding the claims process. We appreciate your patience as we work to respond to each inquiry.




The following two documents are not intended to provide tax advice to investors. However, they discuss the prescribed treatment for investors if it is determined that the Rust Rare Coin, Inc. et. al. operation was a Ponzi scheme.

Rust Rare Coin – Theft Loss Memo for Investors

Rev. Proc. 2009-20


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