| Author |
 Replies: 20 / Views: 4,977 |
Page 2 of 2
|
|
|
|
Rest in Peace
United States
18456 Posts |
Why would he steal rare coins only to put some into coinstar machines at face value ?  |
|
Pillar of the Community
United States
1362 Posts |
Yeah, this doesn't sound like something that really happened.
First, the coin machine would spit out any coins other than cents and nickels that had dates earlier than 1964.
Second, he probably lost the 11% cut for the machine's use.
Third, unless my brain is really bad today, I don't think there's any 'presidential' coins worth $100, let alone $1,000.
I'd love to obtain a follow up to this story.
|
|
Pillar of the Community
 United States
8923 Posts |
maybe if they were top pop missing edge letter dollars, or if they were wounded eagles, or cherrios dollars.
|
|
Pillar of the Community
United States
3352 Posts |
Quote:
What 'presidential coin" is worth $1000? First Spouse gold
|
|
Rest in Peace
United States
18456 Posts |
Nick , he would have to be worse than moron to put a Gold coin into a coin star machine .  |
|
Pillar of the Community
United States
1667 Posts |
This is old news he stole them in december and I saw this first reported around february. The thief is supposed to be some disabled dude that somehow knew the owner of the coins, the dude that owns the coins says they were in a safe and were well over 100,000 coins to his collection in80 boxes in his safe some with high values, some with just face value. To me this sounds like an insurance scam and he's over valuing the total to get the maximum payout from his insurance for the theft and trying to make it look like he's loosing 100s of thousands when his collection was likely worth a couple thousand and the insurance will pay out $20 or $30 thousand. Coinstar won't take most coins that don't circulate. It rejects silver and gold, and I doubt this collector had a massive error coin collection. The story is it was 33 Presidential dollars worth $1000 each he put through the coinstar for face value minus fees so under $30. This is someone overvaluing his loss for an insurance claim. |
|
Valued Member
United States
453 Posts |
I heard a similar story near me in Connecticut a few years ago. Meth addict son took his dad's collection or something and dumped in the coinstar. I don't think the value was as high though.
|
|
Pillar of the Community
United States
1587 Posts |
That sounds about right, B-K. Any mention of why those P$ were worth a grand?
|
|
Pillar of the Community
United States
4380 Posts |
The Palm Beach Post had the best story - the AP Version was poorly exerpted and misleading. Also posted links to the arrest report and court docket... the perp had a unique name so it was trivial to find.
He sold the "rare" coins to a local shop and ran the pres $ through the CoinStar. Reportedly received under $4,000 total. Makes one wonder where the $350,000 valuation came from...
-----Burton 50 year / Life / Emeritus ANA member (joined 12/1/1973) Life member: Numismatics International, CONECA Member: TNA, FtWCC, NETCC, OnLine Coin Club Owned by four cats and a wife of 40 years (joined 1983) |
|
Pillar of the Community
United States
4380 Posts |
-----Burton 50 year / Life / Emeritus ANA member (joined 12/1/1973) Life member: Numismatics International, CONECA Member: TNA, FtWCC, NETCC, OnLine Coin Club Owned by four cats and a wife of 40 years (joined 1983) |
|
Pillar of the Community
United States
1587 Posts |
Quote:
Also on the drug charges... Ahh... now it's starting to make sense! 
|
|
Pillar of the Community
United States
3352 Posts |
Quote:
Nick , he would have to be worse than moron to put a Gold coin into a coin star machine . I'm guessing those were the coins he pawned, the rest went into CoinStar. Quote:
Investigators said Mele sold some of the coins to a pawn shop for $4,000, then exchanged the majority of them through CoinStar change machines at grocery stores
|
|
Valued Member
179 Posts |
@jimbucks and @atticguy: a presidential gold colored coins worth a few hundred, is the godless dollar coin. They are more modern dollar coins, with the presidential face on it, but does not have the inscription around the edge saying in god we trust. This will, on an ordinary coin, be etched into the rim.
|
|
Bedrock of the Community
United States
17836 Posts |
The best known "godless" dollar is the Washington, and you can get those for around $25.00
|
|
Pillar of the Community
United States
4380 Posts |
On August 8th he pled guilty to 5 of the 10 drug charges. He was sentenced to 5 years on the two most serious charges (POSSESSION OF OXYCODONE and POSSESSION OF ALPRAZALAM (XANAX)), with credit for 121 days in jail awaiting trial.
He also pled guilty to 812.014(12B) GRAND THEFT OVER $20,000 LESS THAN $100,000 and was sentenced to 5 years in jail (concurrent with the above) and 10 years probation.
So much for $350K...
-----Burton 50 year / Life / Emeritus ANA member (joined 12/1/1973) Life member: Numismatics International, CONECA Member: TNA, FtWCC, NETCC, OnLine Coin Club Owned by four cats and a wife of 40 years (joined 1983) |
|
Page 2 of 2
|
Replies: 20 / Views: 4,977 |
Page 2 of 2
|
First Page
Posted 04/19/2019 9:10 pm
