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EXHIBIT 4.12

[TANGIBLE GRAPH HERE]

THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER
THE SECURITIES ACT OF 1933, AS AMENDED ("THE ACT"), OR THE SECURITIES LAWS OF
ANY STATE, AND MAY NOT BE OFFERED, SOLD, TRANSFERRED, PLEDGED, HYPOTHECATED OR
OTHERWISE DISPOSED OF EXCEPT PURSUANT TO (i) AN EFFECTIVE REGISTRATION STATEMENT
UNDER THE ACT AND ANY APPLICABLE STATE LAWS, (ii) TO THE EXTENT APPLICABLE, RULE
144 UNDER THE ACT (OR ANY SIMILAR RULE UNDER THE ACT RELATING TO THE DISPOSITION
OF SECURITIES), OR (iii) AN OPINION OF COUNSEL, IF SUCH OPINION SHALL BE
REASONABLY SATISFACTORY TO COUNSEL TO THE ISSUER, THAT AN EXEMPTION FROM
REGISTRATION UNDER THE ACT AND APPLICABLE STATE LAW IS AVAILABLE.

                                     WARRANT

                         TANGIBLE ASSET GALLERIES, INC.

THIS IS TO CERTIFY that for value received, National Recovery Limited
Partnership (NRLP), (the "HOLDER") is entitled, subject to the terms and
conditions set forth herein, to purchase up to 250,000 shares of $.001 common
stock of Tangible Asset Galleries, Inc. (the shares referred to as "COMMON
SHARES" and the shares so purchased referred to as the "WARRANT SECURITIES")
from Tangible Asset Galleries, Inc. (the "COMPANY"), at a purchase price of
Thirty-Two Cents ($0.32) per share ("SHARE PRICE").

1. EXERCISABIL1TY. This Warrant may be exercised in whole or in part at any
time, or from time to time, up to June 26, 2006, (the "EXPIRATION DATE") by
presentation and surrender hereof to the Company of an "election to purchase"
duly executed and accompanied by payment by cashier's check or wire transfer in
the total amount for the exercise equal to the product of (a) the number of
Warrant Securities to be purchased as specified in such election; and (b) the
Share Price (which amount in the aggregate is the "EXERCISE PRICE"); provided,
however, that such number of Warrant Securities to be purchased is in the
minimum amount of five thousand (5,000) Common Shares in any one exercise
("MINIMUM AMOUNT"), or in the event that the Warrant Securities to be issued
under this Warrant is less than the Minimum Amount, then the amount of such
Warrant Securities to be purchased shall be the total amount of such Warrant
Securities to be issued under this Warrant.

2. MANNER OF EXERCISE. In case of the purchase of less than all the Warrant
Securities, the Company shall cancel this Warrant upon the surrender hereof and
shall execute and deliver a new warrant of like tenor for the balance of the
Warrant Securities. Upon the exercise of the Warrant, the issuance of
certificates for securities, properties or rights underlying this Warrant shall
be made forthwith (and in any event within five (5) business days thereafter)
without charge to the Holder including, without limitation, any tax that may be
payable in respect to the issuance thereof, and such certificates shall be
issued in such names as may be directed by the Holder; provided, however, that
the Company shall not be required to pay any tax in respect of income or capital
gain of the Holder or any tax which may be payable in respect if any transfer
involved in the issuance and delivery of any such certificates in a name other

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than the Holder (a "TRANSFER TAX"), and the Company shall not be required to
issue or deliver such certificates unless or until the person or persons
requesting the issuance thereof shall have paid to the Company the amount of any
such Transfer Tax or shall have established to the satisfaction of the Company
that any such Transfer Tax has been paid.

         If and to the extent this Warrant is exercised, in whole or in part,
the Holder shall be entitled to receive a certificate or certificates
representing the Warrant Securities so purchased, upon presentation and
surrender to the Company of this Warrant, with the form of election to purchase
attached hereto duly executed, and accompanied by payment of the purchase price.

3. PIGGYBACK REGISTRATION RIGHTS. The Company warrants that if the Company, at
any time, proposes to register any of its securities under the Act, pursuant to
and applicable registration statement, it will each such time give written
notice to Holder, or its permitted assigns, of its intention so to do. Upon the
written request of Holder, or permitted assigns, given within 30 days after
receipt of any such notice, the Company will use its best efforts to cause all
shares underlying the exercise of such warrants to be registered under the Act
(with the securities which the Company at the time propose to register);
provided, however, that the Company may, as a condition precedent to its
effecting such registration, require each Holder to agree with the Company and
the managing underwriter or underwriters of the offering to be made by the
Company in connection with such registration that such Holder will not sell any
securities of the same class or convertible into the same class as those
registered by the Company (including any class into which the securities
registered by the Company are convertible) for such reasonable period after such
registration becomes effective (not exceeding 180 days) as shall then be
specified in writing by such underwriter or underwriters if in the opinion of
such underwriter or underwriters the Company's offering would be materially
adversely effected in the absence of such an agreement. All expenses incurred by
the Company in complying by this Section, including without limitation all
registration and filing fees, listing fees, printing expenses, fees and
disbursements of all independent accountants, or counsel for the Company and the
expense of any special audits incident to or required by any such registration
and the expenses of complying with the securities or blue sky laws of any
jurisdiction shall be paid by the Company.

4. NO REQUIREMENT TO EXERCISE. Nothing contained in this Warrant shall be
construed as requiring the Holder to exercise this Warrant prior to or in
connection with the effectiveness of a registration statement.

5. NO STOCKHOLDER RIGHTS. Unless and until this Warrant is exercised, this
Warrant shall not entitle the Holder hereof to any voting rights or other rights
as a stockholder of the Company, or to any other rights whatsoever except the
rights herein expressed, and, no dividends shall be payable or accrue in respect
of this Warrant.

6. EXCHANGE. This Warrant is exchangeable upon the surrender hereof by the
Holder to the Company for new warrants of like tenor representing in the
aggregate the right to purchase the number of Warrant Securities purchasable
hereunder, each of such new warrants to represent the right to purchase such
number of Warrant Securities as shall be designated by the Holder at the time of
such surrender.

         Upon receipt by the Company of evidence reasonably satisfactory to it
of the loss, theft, destruction or mutilation of this Warrant, and in the case
of loss, theft or destruction, of indemnity or security reasonably satisfactory
to it and reimbursement to the Company of all reasonable expenses incidental
thereto, and upon surrender and cancellation hereof, if mutilated, the Company
will make and deliver a new warrant of like tenor and amount, in lieu hereof.

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7. ELIMINATION OF FRACTIONAL INTERESTS. The Company shall not be required to
issue certificates representing fractions of securities upon the exercise of
this Warrant, nor shall it be required to issue any scrip or pay cash in lieu of
fractional interests. All fractional interests shall be eliminated by rounding
any fraction up to the nearest whole number of securities, properties or rights
receivable upon exercise of this Warrant.

8. RESERVATION OF SECURITIES. The Company shall at all times reserve and keep
available out of its authorized shares of common stock or other securities,
solely for the purpose of issuance upon the exercise of this Warrant, such
number of shares of common stock or other securities, properties or rights as
shall be issuable upon the exercise hereof. The Company covenants and agrees
that, upon exercise of this Warrant and payment of the Exercise Price, all
shares of common stock and other securities issuable upon such exercise shall be
duly and validly issued, fully paid, non-assessable and not subject to the
preemptive rights of any stockholder.

9. NOTICE. Notices to be given to the Company or to the Holder shall be deemed
to have been sufficiently given if delivered personally or sent by overnight
courier or messenger or sent by registered or certified mail (air mail if
overseas), return receipt requested, or by telex, facsimile transmission,
telegram or similar communication. Notices shall be deemed to have been received
on the date of personal delivery, telex, facsimile transmission, telegram or
similar means of communication, or if sent by registered or certified mail,
return receipt requested, shall be deemed to be delivered on the third business
day after the date of mailing. The address of the Company and the Holder shall
be set forth below.

10. SUCCESSORS. All the covenants and provisions of this Warrant shall be
binding upon and inure to the benefit of the Company, the Holder and their
respective legal representatives, successors and permitted assigns. The rights
of the Holder in this Warrant may only be assigned with the written consent of
the Company, which consent will not be unreasonably be withheld.

11. GOVERNING LAW. THIS WARRANT SHALL BE GOVERNED, CONSTRUED AND INTERPRETED
UNDER THE LAWS OF THE STATE OF CALIFORNIA, WITHOUT GIVING EFFECT TO THE RULES
GOVERNING CONFLICTS OF LAW.

[The remaining portion of this page is intentionally left blank. The signature
page follows.]

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IN WITNESS WHEREOF, the Company has caused this Warrant to be executed by the
signature of its Chief Executive Officer and its seal affixed and attested by
its Secretary and to be delivered in Newport Beach, California.

Dated: 6-26-01                                   TANGIBLE ASSET GALLERIES, INC.
       -------
                                             By: /s/ Michael R. Haynes
                                                 -------------------------------
                                                 Michael R. Haynes
                                                 President

                                                 Tangible Asset Galleries, Inc.
                                                 3444 Via Lido
                                                 Newport Beach, California 92663
                                                 Fax: 949-566-9143
ATTEST:

---------------------------
Rich Viola
Secretary

[Corporate Seal]

HOLDER:

Signature:
              ----------------------
Name:
              ----------------------
Address:
              ----------------------

              ----------------------

              ----------------------

Fax:
              ----------------------

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IN WITNESS WHEREOF, the Company has caused this Warrant to be executed by the
signature of its Chief Executive Officer and its seal affixed and attested by
its Secretary and to be delivered in Newport Beach, California.

Dated: 6-26-01                                   TANGIBLE ASSET GALLERIES, INC.
       -------

                                             By: /s/ Michael R. Haynes
                                                 -------------------------------
                                                 Michael R. Haynes
                                                 President

                                                 Tangible Asset Galleries, Inc.
                                                 3444 Via Lido
                                                 Newport Beach, California 92663
                                                 Fax: 949-566-9143
ATTEST:

/s/ Rich Viola
---------------------------
Rich Viola
Secretary

[Corporate Seal]
[Tangible Corporate Seal Graph Here]

HOLDER:

Signature:
              ----------------------
Name:
              ----------------------
Address:
              ----------------------

              ----------------------

              ----------------------

Fax:
              ----------------------

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                         [FORM OF ELECTION TO PURCHASE]

         The undersigned, the Ho1der of the attached Warrant, hereby irrevocably
elects to exercise the purchase right represented by this Warrant for, and to
purchase securities of Tangible Asset Galleries, Inc. and herewith makes payment
of $_________ per share therefore, pursuant to the terms of the Warrant, and
requests that the certificates for such securities be issued in the name
of_______________________________________ and be delivered to ________________
whose address is______________________________________________________________
______________________________________________________________________________

Dated: ______________

Print Name of Holder:_____________________________
Signature: _______________________________________
(Signature must conform in all respects to name if Holder as specified on the
Warrant)

--------------------------------------------------------------
(Insert Social Security or other Identifying Number of Holder)

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