Police officer admits theft at U.S. Mint

PHILADELPHIA, Sept. 9 (UPI) -- A former federal police officer assigned to the U.S. Mint in Philadelphia has admitted stealing $2.4 million so-called error coins and selling them.


William Gray, 64, of North Wildwood, N.J., pleaded guilty to theft of government property and income tax evasion, WCAU-TV, Philadelphia, reported Friday.


In federal court, Gray admitted to taking $1 presidential coins, all missing lettering on their edges, and selling them to a California coin dealer knowing they were more valuable to collectors because they were "mint errors."
Gray also admitted he did not pay taxes on the money he got for the coins, The Philadelphia Inquirer reported.
Gray, who worked at the mint from 1996 until January, is free on $50,000 bail pending a sentencing hearing set for Dec. 20.








Read more: http://www.upi.com/Top_News/US/2011...-at-US-Mint/UPI-96891315589792/#ixzz1Y9woqBsu

 

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$50k bail for stealing $32k
There are no less than 3 threads on this heist.

 

I think you missed the part where he made $2.4 million dollars off selling these error coins.

 

Thats between him & HSN. The highest value the US mint would ever put on them is $32k & they couldn't even assess that as these were never "fully coined"

 

This has already been posted and discussed:

http://www.cointalk.com/t191689/

 

They keep using the 2.4 million dollar value for the coins but that is based more on current marke value for the coins. I seriously doubt he got anywhere near that for them.