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 Replies: 9 / Views: 1,027 |
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Pillar of the Community
United States
1267 Posts |
( I posted this on another forum and NOBODY has chimed in... hmmmm)
As we all here understand the value of our respective collections is an important aspect of the hobby. And, the more valuable a coin is, usually the more desirable it is. The more desirable it is the more someone else wants it or one like it, etc....
Here is a scenario which has played itself out numerous times in various situations. Unbeknownst to you a coin you've recently acquired is on a HOT LIST. I mean it's a stolen coin and is been placed on a "look out for" list of stolen items. How would you handle a situation if the police came to your place of business, home, or office and said, "I'm Officer ______ _____ , and I believe you have a coin which has been determined to be stolen from ____ _____. You are not a suspect in the crime, never-the-less the coin in your possession was stolen and we're here to retrieve it and return it to the rightful owner." What would you do, the private collector?
To add a little perspective to the question, the local dealer in town has on numerous occasions declined to purchase items from individuals he has gotten a "Bad Vibe" from so to speak. Maybe it's a obviously shady looking character with a paper or plastic grocery sack full of gold & silver bullion or a couple of kids who are constantly looking over their shoulder and don't want their name recorded for any reason. He's told them to leave his shop and don't come back.
Take Care
Ben
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Pillar of the Community
United States
560 Posts |
Interesting scenario. I assume that the police found out I had the coin from the person who sold it to me? Perhaps the dealer was also visited by the police with a list of stolen items and some match ones that he/she recently obtained from the same person and I bought one of those? In this case the chain of evidence is pretty tight and I would have to return the coin (for a full refund).
I've sold some silver coins to a local dealer and he always makes me sign a statement that the property is mine. He also takes a photocopy of my ID. I haven't tried to sell any high value non-silver coins but I assume the process would be the same. This is a good way for dealers to cover themselves from the hassle of lost revenue if something does come up stolen. And to avoid being charged with fencing stolen property.
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Pillar of the Community
United States
2600 Posts |
Hi, Ben. Our area dealer has to hold items of high value for a period of time before he can move them on, just so that law enforcement has time to survey the area establishments that may be subject to buying stolen property. He checks IDs and does refuse to buy some things for fear that it is stolen.
Caputa, what is that close to? I spent 3 years at Ellsworth on B-52s. Where were you stationed.
Jim
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Pillar of the Community
 United States
1267 Posts |
quote:
Hi, Ben. Our area dealer has to hold items of high value for a period of time before he can move them on, just so that law enforcement has time to survey the area establishments that may be subject to buying stolen property. He checks IDs and does refuse to buy some things for fear that it is stolen.
Caputa, what is that close to? I spent 3 years at Ellsworth on B-52s. Where were you stationed.
Jim
Hello Jim, Yep, it's EAFB. Caputa is on 44 East like you're heading towards the Piine Ridge Reservation. I was stationed at EAFB for almost 20 years (except for a year at each of these locations... Kunson AB Korea & Riyadh, Saudi Arabia), LOL. Not a bad place... Take Care Ben |
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Pillar of the Community
United States
7123 Posts |
The simple fact is if you have in your possession a coin which has been stolen ,,then it goes back to original owner if and when its discovered that you have it ,, and by the way ,,any refund comes from the person you bought it from not the original owner from whom it was stolen .
The law makes it impossible to retain the coin once it has been determined to be stolen property .
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Pillar of the Community
United States
2600 Posts |
Were you a SD native, or did you just stay there after retiring?
Jim
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Pillar of the Community
United States
1267 Posts |
Currently, this is one of the dangers when purchasing coins off ebay. It's virtually unpoliceable, but as technology and government regulation expands into cyberspace it will eventually be something to worry about when you get that great deal... ///////////////////////////////////////// Jim, no I'm originally from Texas (a town of 800 people, Centerville) but, Rapid City seemed a like a nice place (more than one restaurant) and we'd bought a house out in the country and since it was already paid for... Besides, my oldman ran me off when I was 18 (he said I ate too much, LOL  ) and told me it's time to make my own way... He was a hardman.  Take Care Ben |
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New Member
United States
37 Posts |
Yea sounds like if they have a trail to your door you would have to give it back. That would suck because its not your fault but at the same time you might not get reimbursed for the coin if you got it from a flyby person.
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Pillar of the Community
United States
1083 Posts |
I would sure want to know how the police know that the coin I purchased was the same one stolen? If my records indicate that the individual that sold the coin to me is the same individual as a convicted felon in a theft or burglary of a coin collection I probably have little recourse but to hand it over. However, I also think there is ultimately a burden of proof on the victim to prove the coin was originally his, unless of course it is so rare as to be somewhat unique. If you buy a coin like that from someone who has no idea what they have, than you already should understand that you may lose it. I never thought about that problem being associated with ebay. Gulp! |
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Pillar of the Community
United States
749 Posts |
The first thing I would do is call my attorney.
If it is proven that the coin in question is truly stolen goods I would have no choice but to give it back to the rightful owner.
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Replies: 9 / Views: 1,027 |
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Posted 01/19/2008 12:40 pm
