Another burglary . . . this time it was Barry Stuppler's shop.

Some of you are or were dealers with B&M stores....what did you do when you closed up at night with: (1) the bulk of your valuable inventory and (2) the 5-10 most expensive items you had.

 

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It doesn't sound like there is a sure way of protecting your coins and/or other valuables. Many of us think that a guard dog inside the house will protect you and your valuables. It seems that with all of the interest to protect your assets, there could be a sure way of keeping records of your coins. NGC and PCGS slabs help to identify the coin, but they are only a mild deterrent. If the burglar wants to avoid detection, all they have to do is crack the slab.
I know this is a bit out of the thread, but I thought this might be of interest. I have a neighbor that has 8 large dogs. At night 2 of them stay in her house (She is single.) Some idiot broke into her house. Some how he got out, but left 2 fingers. She called the police and reported the crime and she gave them his 2 fingers. That night, the thief went to the hospital and the police was able to catch him. He was found guilty and went to jail. He got a lawyer and sued my neighbor for his damage. Naturally, it was thrown out.
Again, I'm sorry for the theft of this thread. And, thanks for al the great information.

 

That what they said to our friend Linus.

 

That is not even what we are considering in this thread. there are no sure ways of protecting coins, which is why the industry needs to dust off its reputation for being soft on transacting on stolen coins and get serious but pedreee tracking.

 

sorry to hear this it sure does suck i hate hearing this happen it does in ny state as well and its getting really bad mostly druggies

 

It is possible, today, to fingerprint a coin and know with a high degree of certainy if two images, even over time, are the same coin. All you need is an hand held ap. You take a picture of the coin, front and back, a picture of the slab, if there is one, a picture of the receipt, your name as the buyer and the name of the seller, and you are done. If the coin is stolen, you mark it stolen. You can then virtually freeze the dealing of that coin in the legitiamate coin market, until the issues with the coin is unfrozen. (yes that means that ebay et al must agree comply or you sue them for trade in stolen goods)

 

I guess you could say the judge gave him the finger......

 

Generally Insurance becomes the owner once they pay it out. Courts get messy and the situation will vary but they really aren’t going to just pay it out and and say keep it

 

Which someone would have to pay for and then accept the liability. Anyone can report anything stolen, doesn’t mean it was. Such a site would cost a lot of money and need a lot of contacts, even a police report doesn’t mean it actually happened. It seems like a good idea but would be a nightmare for whoever ran the site

 

Curious why the OP'er hasn't responded to this?

 

Wouldn’t hold your breath on that one but OP wouldn’t be the correct person here

 

You're right. Mea culpa. My faux pas. Apology to @ToughCOINS

So maybe @cplradar can respond to the query posited to him.....

 

I ask it again...same with jewelry stores....they can't possibly take EVERYTHING out at night, they put the most expensive stuff in really good safes and if they do get robbed, it's the lower-priced stuff still in the display cases.

 

To many variables to whose doing the robbing and in all honesty just wouldn’t be smart to answer that anyways. It’s just like there’s a lot more comments about hiding something in a database that just don’t need to be said. They can probably figure it out anyways but why make it easier

 

True....but I assume no thiefs are reading our forum.

 

There’s been some in the bst section and you’d be surprised. Besides they can do internet searches easy. But yea a good safe is definitely better than a glass counter.

All I will really say is that generally speaking safes are generally are there as a deterrent to not try and to slow people down so the cops can get there before they leave. Just as security cameras are generally there as a deterrent to not try and to catch people if they do.

 

And they would have to be some pretty rare coins. Even most "rare" coins exist by the hundreds if not thousands.

Yes it CAN be done, but are you going to haul that equipment around with you when you go to a coin show so you can scan any raw coin you are considering buying so it can check against a database? These fingerprint images are done under very controlled conditions, not something you can just duplicate with a picture snapped on your cellphone.

But who DOES do such fingerprinting? The TPG's Or at least PCGS. They were able to do it with their Expert system back in 1990 and the do it today with the Secure Shield system. And those systems could recognize a coin that had been cracked out and sent back in. But in order to get it to work the coin would have to have been scanned once already and then sent in again. Not something that will help buying raw coins at a show. Although if it has been reported as stolen it could get it flagged when someone sends it in again.

Of course I'm, not sure the TPG's would want to get themselves involved in stolen coin reports where they have simply been sent a raw coin for slabbing. Do they seize it? Return it unslabbed with a notation it has been repotted stolen? I could see this being a can of worms for them.

They WILL take a report. No they won't itemize what was stolen, but a submitted list WITH a police report could get them listed in the database. Yes it isn't perfect but it would help to weed out fictitious reports. It would have to be better than letting people list coins as stolen with no evidence whatsoever that a theft has occurred.

 

The only way for this to gain traction is for the insurance companies to get on board to claw back the coins or the payouts on paid insurance claims from the system. It's the only way to pay for it. Run by the insurance companies, no way to protect the individual collectors or dealers unless they carried insurance. Also won't happen unless the insurance companies are having colossal losses that arent covered by raising premiums so that it would make it worth it.

 

I believe they just do what the police say too. They have been involved with helping before, but they have to be 100 percent sure as they should