Rick Snow could use your help. Stolen coin.

Someone who is interested in purchasing this coin would know it's rarity and would therefore know it's stolen. Therefore this buyer is most likely not willing to pay market value since there is a risk of the coin being confiscated.

As for the act of theft, it is pretty odd that such a valuable coin would be stolen without a trace.

 

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Most likely, yes... and I do not recall stating or even implying otherwise. Please do note that there is a difference between KNOWING something is stolen and CARING.

Again, not once have I said nor implied one would be willing to pay its clean value, and have in fact made every attempt to clarify this in very plain language (including in the post you quoted).

If one cannot grasp or simply refuses to believe that there, unfortunately but in fact, are so-called "collectors" out there who would, for the "right" price (by which I clearly do NOT mean retail or even fair wholesale), jump at the opportunity to own such a coin, even knowing full well that it was stolen, they are, and with all due respect to them, being very naive.

 

I wasn't quoting your post in defiance. I was simply expanding on the topic you were on and expressing my thoughts on the matter. That's all.

 

What would the coin be worth in AU-53 or so for example? Couldn't they handle the coin for awhile and bring down the grade, making it unidentifiable?

Sorry to hear about the loss, hopefully the scum who did it is found and brought to justice!

 

I too wonder how that penny can be obtained by a customer and walked away with... ? It would seem something that valuable would be behind a locked box, with several locks on it, or clear glass for all too see... Really sorry RICK and that totally sucks. No one should ever steal ! Especially from another person... Twice as bad as stealing from a business or the govt.... Sorry, I have an opinion on that...

 

This guy wasn't there, was he? He's a real slicky boy.

http://www.coinweek.com/people-in-the-news/crime-and-fraud/anatomy-coin-thief-true-story/

 

The coin is a proof, not MS.

 

Odds are, if the thief alters the proof Indian to the point it is indiscernible from its original self, then the coin would be relatively worthless. Two or three years back, I caught on to a guy who was buying high-end problem coins, like patterns, and reselling them after cracking them out of their slabs. He'd buy them at Heritage and Stacks, then resell them on the bay. However, he'd attempt to touch up the problem that earned them a details slab. And he was making good $$$ doing it. There are just too many factors that make it easy to identify a particular coin. Toning, strike throughs, die grease, strength of strike, alignment of the planchet to the die faces, etc. are ways that an individual coin an be identified apart from others of the same die.

 

Yikes! There are some really deceitful people out there, its crazy that they are dumb enough to think they'll get away with it as well.

 

Then I clearly misinterpreted, and for that you certainly have my apologies. Perhaps I was still a tad defensive from earlier in the thread

 

Short of altering the appearance and/or attempting to "fix" the problem, this is an unfortunate yet fairly common shtick. In fact, there are (at least) a couple of members of this very board who seem to find this practice - buying slabbed problem material for the sole purpose of cracking out and selling as raw problem free - perfectly acceptable. Yes, their MO is to use more common types, but still the point that this is a practice all, and especially new collectors should be aware of stands.

 

Dealers should invest in a minimum of two GoPro cameras, and use them. Anybody looking at a dealer's product should keep BOTH hands above the table at all times or face immediate extra scrutiny, if not banning them from any further transactions.

 

I once told a dealer at a show who had a camera setup I was glad it was there. In that environment, cameras protect all the honest people and discourage stuff like this.

 

Doesn't exactly sound like a coin you'd have at a show, much less out for others to touch. I assume not many people buy a $127,000 coin at a coin show on a whim. Unless someone was interested in purchasing the coin and made arrangements to see it, why have it at the show? Quite the expense and risk merely to show off, it seems. But perhaps I'm wrong and people routinely drop this much on single specimens at coin shows.

 

At a big show? Why not? I've seen $10K coins at local coin club shows. Scale that up to a national show, and I'd easily believe several six-figure coins are on the bourse somewhere.

 

It's well known that you have a problem with Rick and you need to get over it.
"Quite the expense and risk merely to show off"
That's total BS and you know it. This is the type of coin that any dealer would take to a major show to sell. You need to stop your attacks on Rick. It's getting really old.

 

No, I don't have a problem with Rick. Please stop sewing the drama. My post merely inquires as to why any dealer would carry around and expose such an expensive coin. In fact, my post was far more constructive than the many that preceded it along the same lines.

My post was in no way pointed at him, as clearly I didn't even reference him with a pronoun. Perhaps, Larry, you have a problem with me and you need to let it go. I would have appreciated your comments in a private message, as such flippant remarks seem to be detrimental to a healthy discussion and community. I'll let your attitude stand on its own.

And sure, I've seen mega $$$ coins predominately displayed in the center of some dealer's cabinets... to show off. Sometimes they are not even for sale. It wasn't my intent to insinuate that Rick was showing off, but rather to inquire about the logic behind toting around single specimens worth hundreds of thousands of dollars. I would have made the same post, regardless of which dealer lost a $127,000 coin.

 

I'm just hung up on the past. I do need to get over it but you telling folks not to send coins to Rick and trashing my Fun Show thread with your negative problems with Rick was just wrong. You have my word, I will never bother you again.

I'm also sorry for bringing my problems from a different board over here. It was childish and it will never happen again.

 

I actually thought the same thing... so much $ tied up into one coin makes it a target. I'd worry about some slight-of-hand artist swapping it with a fake one. Or people handling it and the slab getting scratches.

I wouldn't bring that to a show unless I had a buyer. eBay/Stacks/Heritage coin buyers outnumber show attendees by... 10,000 to 1?

He still hasn't said how it went missing, whether it was left in a case or was behind the table.

 

Only those that know know, but my guess would be the lack of details as to how it was stolen may be cause it's an inside job or they don't know how it was taken. When I say inside job I don't mean Rick but maybe someone who helps him or has access.

If they don't know how it went missing then that would also explain a lack of details. I see this thread has "stolen" in the title, but do they know it was stolen? Perhaps it was misplaced.

Maybe it was left somewhere and then someone found it later. If accidently left out and someone found it later then I suppose it's similar to being stolen because the person that found it isn't coming forward. However, the act of getting it would be different. Taking it from the case and finding it laying around somewhere are not quite the same.