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Florida Man Steals $33,000 In Rare Coins, Uses Them In Change Machines

 
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Pillar of the Community
Canada
957 Posts
 Posted 04/19/2019  7:15 pm Show Profile   Bookmark this topic Add Peter4805 to your friends list Get a Link to this Message
This one really made me wince.

https://www.ajc.com/news/national/f...09bTYEiuqvJ/

*** Moved by Staff to a more appropriate forum. ***
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United States
3403 Posts
 Posted 04/19/2019  7:26 pm  Show Profile   Bookmark this reply Add jimbucks to your friends list Get a Link to this Reply
What 'presidential coin" is worth $1000?
Forum Dad
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United States
20028 Posts
 Posted 04/19/2019  7:34 pm  Show Profile   Bookmark this reply Add bobby131313 to your friends list Get a Link to this Reply
Ya, sumpin' funny goin' on here.
Pillar of the Community
United States
753 Posts
 Posted 04/19/2019  7:49 pm  Show Profile   Bookmark this reply Add ty88ty2 to your friends list Get a Link to this Reply
The thought still makes me cringe.
Lincoln Cents - 2 holes; 1909SVDB/1914D / Indian Head cents - 14 Holes / Jefferson nickels - Done / Buffalo nickels - 10 Holes / V nickels - 6 holes / Shield nickels - 5 Holes / Roosevelt dimes - Done / Mercury dimes - 2 Holes; 1916D/1921P / Washington quarters - 8 holes / Standing Liberty quarters - 10 Holes / Barber quarters - 34 Holes / Kennedy halves - 7 Holes / Walking Liberty halves - 30 Holes / Franklin halves - 18 Holes
Other works in progress - 7070 / Canadian Cents / Canadian Nickels / SBA & SAC Dollars / Pres Dollars
Pillar of the Community
United States
1578 Posts
 Posted 04/19/2019  7:58 pm  Show Profile   Bookmark this reply Add Zurie to your friends list Get a Link to this Reply
Time to do some coin roll hunting in Palm Beach!
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76302 Posts
 Posted 04/19/2019  8:10 pm  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

Quote:
Time to do some coin roll hunting in Palm Beach!
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United States
11439 Posts
 Posted 04/19/2019  8:58 pm  Show Profile   Bookmark this reply Add T-BOP to your friends list Get a Link to this Reply
Why would he steal rare coins only to put some into coinstar machines at face value ?
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United States
735 Posts
 Posted 04/19/2019  9:10 pm  Show Profile   Bookmark this reply Add atticguy to your friends list Get a Link to this Reply
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.
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United States
5176 Posts
 Posted 04/19/2019  9:18 pm  Show Profile   Check GrapeCollects's eBay Listings Bookmark this reply Add GrapeCollects to your friends list Get a Link to this Reply
maybe if they were top pop missing edge letter dollars, or if they were wounded eagles, or cherrios dollars.
My best finds: 1999-WAM:http://goccf.com/t/332161 1988-RDV-6:http://goccf.com/t/335954#2873459 1986-Off-center: http://goccf.com/t/335952
1999 WAM #2:http://goccf.com/t/338710&whichpage=1
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United States
1795 Posts
 Posted 04/19/2019  11:39 pm  Show Profile   Bookmark this reply Add nfine to your friends list Get a Link to this Reply

Quote:
What 'presidential coin" is worth $1000?


First Spouse gold
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11439 Posts
 Posted 04/20/2019  08:35 am  Show Profile   Bookmark this reply Add T-BOP to your friends list Get a Link to this Reply
Nick , he would have to be worse than moron to put a Gold coin into a coin star machine .
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United States
702 Posts
 Posted 04/20/2019  09:33 am  Show Profile   Bookmark this reply Add Big-Kingdom to your friends list Get a Link to this Reply
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.
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426 Posts
 Posted 04/20/2019  10:22 am  Show Profile   Bookmark this reply Add srcliff to your friends list Get a Link to this Reply
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.
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1503 Posts
 Posted 04/20/2019  10:34 am  Show Profile   Bookmark this reply Add Biedercoins to your friends list Get a Link to this Reply
That sounds about right, B-K. Any mention of why those P$ were worth a grand?
- About two score and seven+ years ago, I began a Lincoln cent collection. I have all, most in AU or better & am upgrading to MS as possible.
- I collect all coins minted 1809, 1859, 1909, 1959, and 2009. Lincoln and C.Darwin were both born in 1809. The latter published his "On the Origin of Species.." in 1859, the Lincoln cent debuted in 1909, and after that it just seemed like a good way to show the evolution of US coinage. Most non-nums to whom I've shown these react with the phrase, "I had no idea!" That alone shows their worth.
- I've completed MS sets of Jeffersons & MS specimens of other 5 nickels; Franklins done. Roosies mostly done. I enjoy hunting for WLH and "winged liberty" dimes.
-- If I left my early Washington quarter book at one of y'alls house, please ring me up.
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 Posted 04/20/2019  2:21 pm  Show Profile   Bookmark this reply Add BStrauss3 to your friends list Get a Link to this Reply
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
45 year / Life ANA member (joined 12/1/1973)
Life member: Numismatics International, CONECA
Member: TNA, FtWCC, NETCC
Owned by four cats and a wife of 35 years (joined 1983)
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 Posted 04/20/2019  2:38 pm  Show Profile   Bookmark this reply Add BStrauss3 to your friends list Get a Link to this Reply
Here:

https://www.palmbeachpost.com/news/...ctim-wonders

and big surprise he failed to appear and was rearrested ...

https://www.palmbeachpost.com/news/...t-rearrested



According to the case docket, last action was a not guilty plea on 4/17. Also on the drug charges.

https://applications.mypalmbeachcle...ingpage.aspx




-----Burton
45 year / Life ANA member (joined 12/1/1973)
Life member: Numismatics International, CONECA
Member: TNA, FtWCC, NETCC
Owned by four cats and a wife of 35 years (joined 1983)
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