Coin Star horror

Discussion in 'Coin Chat' started by BlackBeard_Thatch, Feb 28, 2019.

  1. BlackBeard_Thatch

    BlackBeard_Thatch Captain of the Queen Anne's Revenge

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  3. paddyman98

    paddyman98 Let me burst your bubble! Supporter

    What? Commemorative Presidential Dollar coins? Worth $33,000? Something is wrong with that statement.
    Seattlite86 likes this.
  4. Randy Abercrombie

    Randy Abercrombie Supporter! Supporter

    Man, it's good to see that burning beard again!
    BlackBeard_Thatch likes this.
  5. Roman Collector

    Roman Collector Supporter! Supporter

    He must have had tens of thousands of those coins.
    GenX Enthusiast, spenser and Ericred like this.
  6. rickmp

    rickmp Frequently flatulent.

    "The coins were worth $33,000.00"
    My guess is they were severely over valued by the owner.
    33,000 coins would weigh just under 590 pounds.
    Stolen in one trip?
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  7. Clawcoins

    Clawcoins Well-Known Member

    I wonder if you can get them slabbed now as "pirated loot"
  8. Lehigh96

    Lehigh96 Toning Enthusiast

    Yes, the person who wrote that article knows as much about coins as the idiot thief who put them through the machine.

    A friend of mine tagged me in this story on Facebook the other day. I furiously responded with a 3 paragraph rant about the ridiculousness of the story then realized all it would do is tick my friend off so I deleted the rant, typed “lol”, and moved on with my life.
  9. Hookman

    Hookman Well-Known Member

    When you read the article properly, you realize that the ENTIRE collection was worth $33,000.00. The presidential dollars were just a small part of the collection. The thief sold much of the valuable coins for "thousands of dollars" as the article relates. The thief then took some of the remaining coins and put them through "change machines" (coinstar?) which, of course, only returned face value.

    That's why thieves are thieves....because they're "stoopid"!
    That's also why they get caught.
  10. cpm9ball

    cpm9ball CANNOT RE-MEMBER

    Gee, Paul! You should know that I don't have that sort of restraint in me!

  11. Michael K

    Michael K Well-Known Member

    Yes I read that the other day. Sounded as if the criminal needed money for drugs.
    Hookman likes this.
  12. chascat

    chascat Well-Known Member

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  13. myownprivy

    myownprivy Well-Known Member

  14. buckeye73

    buckeye73 Well-Known Member

    To summarize, the stolen coin collection was apparently valued at 33k. The thief sold part of the collection at a coin shop for about 4k. I have often heard the phrase “you can spend the rest” in such transactions. The brilliant thief possibly took that sort of advice to heart. Thus, Coin Star received high grade Presidential Dollars and the thief did not even net the face value in return. What a story!
    Hookman likes this.
  15. juris klavins

    juris klavins Well-Known Member

    At the police lineup, he was easily ID'd :rolleyes:

  16. Kasia

    Kasia Got my learning hat on

    Discretion being the better part of valor.
    Kentucky and Hookman like this.
  17. Finn235

    Finn235 Well-Known Member

    I do love watching the Adventures of Florida Man!
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  18. TypeCoin971793

    TypeCoin971793 Just a random nobody who doesn’t know anything...

    I’ve read updated articles where it was just 33 presidential dollars valued at $1000 each. Maybe they were errors? The thief got ony $29.30 from the coinstar, which is consistent with 33 $1 coins.
    Last edited: Mar 1, 2019
  19. Michael K

    Michael K Well-Known Member

    Can Presidential dollars really be worth $1000 each?
    Even if they were graded 71 they would be worth 1/10 of that.
    Perhaps there is a 2nd crime here, insurance fraud.
    TypeCoin971793 likes this.
  20. okbustchaser

    okbustchaser Just plain busted Supporter

    I have no clue what they could possibly be worth as I have no interest in collecting them, but my insurance agent often says that there are two thefts involved in nearly every claim...the burglary, and then the insurance claim valuation.

    Actually, my first thought is that the original reporter thought that they were gold not golden. Then follow-up reports simply ran with the valuation.
  21. TypeCoin971793

    TypeCoin971793 Just a random nobody who doesn’t know anything...

    I was wondering that myself
    Michael K likes this.
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