Monday, March 19, 2012

Museum Theft = Probation, Community Service

A tour guide who helped himself to a portion of a traveling exhibit featuring gold coins was sentenced to three years probation, community service and he must attend a seminar on theft -- one assumes the seminar addresses the negative consequences. Details here.

Friday, March 16, 2012

Libyan Looters Strike Under Cover of War

Investigators say it looks like an "inside job," ancient coins and relics termed "priceless" were pillaged from a bank vault while the Libyan revolution was going on. Thieves knew exactly where to find the treasure. Story here.

Sunday, March 4, 2012

Smugglers Caught With Thousands of Ancient Coins

There have been increasing complaints about seizures of packets of ancient coins by U.S. Customs but the actions are not without basis. Were the perps not caught, what would have been the destiny of these coins? Obviously, attempts would be made to turn them into cash at one market or another... story here.

$1 Flea Market Find a $100,000 Treasure?

Skeptics at Esylum newsletter posted the link to an article but were doubtful about the veracity of the tale. Quite possibly great treasures may be found this way, but the logic of buying a rarity like this as a lucky piece seems a wee bit strange. No doubt there is more to the story -- meanwhile here's what we know.

Investigator Finds No Government Shield Against Counterfeiting Coins

Based on published and hushed up concerns about counterfeit coins in Europe and Great Britain, the investigator looked into current and proposed efforts to thwart coin counterfeiting in the U.S. -- and found none. Given legislation backed by metals groups, it could become a problem, or maybe it already is? I was wondering, would the metals groups really care whether coins are legit as long as they are metal?
See the story here.

Thursday, March 1, 2012

$10-Million Inherited Rare Coin Collection? Or, Chinese Junk?

A rare coin collection worth an estimated $10-million if genuine, said to have been begun in the 1930s, has been described by a coin expert as composed mostly of recent Chinese counterfeits. The buyer may have thought he got a "steal" at $70,000, and, while possibly true, it was of a different sort than expected. The truth of the matter is up to the court to decide, story here via Coin World magazine.