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Mint Employee Steals Error Coins

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Valued Member
Lion4Life's Avatar
United States
370 Posts
 Posted 09/09/2011  10:09 pm  Show Profile   Bookmark this reply Add Lion4Life to your friends list Get a Link to this Reply

Quote:
They should make an Oceans 14 movie and have it take place at the Philly Mint.


lol, that's what I was just thinking.
Rest in Peace
biggfredd's Avatar
United States
9104 Posts
 Posted 09/10/2011  02:10 am  Show Profile   Bookmark this reply Add biggfredd to your friends list Get a Link to this Reply
C'mon peeps, he stole $2.4 million worth of error coins (retail value). If they sell for $24,000 each, that's four rolls.
Bedrock of the Community
GR58's Avatar
United States
11951 Posts
 Posted 09/10/2011  07:14 am  Show Profile   Bookmark this reply Add GR58 to your friends list Get a Link to this Reply
I am wondering if it is that he might have used the direct shipment program, shipping $250 for $250.
Of course we are talking many boxes of $250.

But Gray ( I think the mint employee name is Gray) boxed up the error coins that were not supposed to be shipped out. Made sure the errors were sent to the dealer. The dealer would get the error coins at face value and pay Gray for making it happen.

This is just a guess on my part.

I have three Washington missing edge letters dollars, I paid $70 for the first one, then $20 and $5
for the last one .. the only ones I have heard of being very high priced were the Sac/washington mules.

If they were mules that would change my first guess. But I think the article said missing edge letter dollars.

Locked
822 Posts
 Posted 09/10/2011  10:32 am  Show Profile   Bookmark this reply Add scubu to your friends list Get a Link to this Reply

Quote:
I paid $70 for the first one, then $20 and $5
for the last one .. the only ones I have heard of being very high priced were the Sac/washington mules


Of course if you work at PCGS, grading them could make you good money.
Rest in Peace
biggfredd's Avatar
United States
9104 Posts
 Posted 09/10/2011  11:06 am  Show Profile   Bookmark this reply Add biggfredd to your friends list Get a Link to this Reply

Quote:
I have some off center that will never fit in a roll besides some error that we see make us think only per a inside job !


OC escape easily enough. They go through the coin counter into the bag.
Rest in Peace
biggfredd's Avatar
United States
9104 Posts
 Posted 09/10/2011  11:18 am  Show Profile   Bookmark this reply Add biggfredd to your friends list Get a Link to this Reply
As far as liabilities of the buyer, how do they know whether the coins were smuggled from the mint, or pulled by someone who got first crack at the coins before they got into circulation?
Valued Member
United States
60 Posts
 Posted 09/10/2011  11:25 am  Show Profile   Bookmark this reply Add jimtaxguy to your friends list Get a Link to this Reply
According to the NJnews article, he took BAGS of dollar coins. Can you see him carrying them out at the end of his shift?
"Hey Harry... whats in the bag?"
"Ohh just my left over lunch"

as his one shoulder is hanging down due to the weight of the bag


On a celebratory note... this is my 50TH post. so...I am now official or something. Break open the champagne.

Valued Member
SilverCoinBoi's Avatar
United States
458 Posts
 Posted 09/10/2011  12:22 pm  Show Profile   Bookmark this reply Add SilverCoinBoi to your friends list Get a Link to this Reply
Cheers! :)
Bedrock of the Community
GR58's Avatar
United States
11951 Posts
 Posted 09/10/2011  12:41 pm  Show Profile   Bookmark this reply Add GR58 to your friends list Get a Link to this Reply

Quote:
According to the NJnews article, he took BAGS of dollar coins.


So my guess about direct shipment is not it. I am with many here... not seeing how he could take that many
dollars/bags out.
Pillar of the Community
CoinsKelly's Avatar
United States
3453 Posts
 Posted 09/10/2011  12:48 pm  Show Profile   Bookmark this reply Add CoinsKelly to your friends list Get a Link to this Reply
I'm with you GoldRush58, not sure how he could get bags out. Maybe he put them in the garbage and then did a dumpster dive to retrieve them.
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biokemist6's Avatar
United States
12437 Posts
 Posted 09/10/2011  3:26 pm  Show Profile   Bookmark this reply Add biokemist6 to your friends list Get a Link to this Reply

Quote:
I am wondering if it is that he might have used the direct shipment program, shipping $250 for $250.

Not 100% positive but I believe that the Direct Shipments originate from the Indiana Fulfillment Center so there would have been no chance to do it that way.
Bedrock of the Community
DVCollector's Avatar
United States
10045 Posts
 Posted 09/10/2011  3:41 pm  Show Profile   Bookmark this reply Add DVCollector to your friends list Get a Link to this Reply

Quote:
Maybe he put them in the garbage and then did a dumpster dive to retrieve them.
That's one of the oldest "inside job" tricks in the book. It might work in a department store, but a secure facility like a US mint? From reading up on this guy, he sounds very devious...he probably took some time and planning. If he slipped up on the banking end...the irony would be poetic.
Pillar of the Community
lukkyseven's Avatar
United States
880 Posts
 Posted 09/10/2011  5:09 pm  Show Profile   Bookmark this reply Add lukkyseven to your friends list Get a Link to this Reply
Probably got caught when the $2 atm fee's started to rack up.
Valued Member
gmaster456's Avatar
United States
61 Posts
 Posted 09/10/2011  7:32 pm  Show Profile   Bookmark this reply Add gmaster456 to your friends list Get a Link to this Reply
So, he was clever enough to somehow beat the system, but slipped up by making large deposits at his credit union, and not paying taxes on it. Karma or Irony?
Valued Member
United States
320 Posts
 Posted 09/10/2011  9:50 pm  Show Profile   Bookmark this reply Add Secret Argent Man to your friends list Get a Link to this Reply
If I have 2.4 mil in ill-gotten gains, what should I do with it?

-stuff it in my mattress

-slowly pay off all my debts and live "off the financial grid" in a few years
-retire to the carribean or a non-extraditable country.
-give it to charity
-quietly buy coins or other items which would act as a store of value and which I could sell piecemeal later
-live it up in various cash transactions (booze, women, etc)
-put it in a bank, effectively advertising "here I am, IRS come get me!"



hmmmmmmmmmmmm........
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