Audit? Yes We Audit! That's How We Know We Lost $1,015,941.87 of Gold
MsMorrisine
Posts: 33,754 ✭✭✭✭✭
MsMorrisine
Posts: 33,754 ✭✭✭✭✭
Comments
Wayne
Kennedys are my quest...
How was the reimbursement money spent????
And what happened to the gold after being put in the incinerator?
Great transactions with oih82w8, JasonGaming, Moose1913.
I wondered the same thing.
I'm volunteering to shovel out the incinerator once it is shut down
Such incompetence. Just ridiculous.
I suspect that maybe it never reached the "incinerator".
Wow. I saw a bunch of those for half price on eBay a few years ago and thought it had to be a scam... maybe not. 😂 But seriously, how the heck does that happen, and how can they not find the gold?
725 oz of gold just "destroyed" and no one noticed for years? Ha!
Calling BS!
This is interesting, yet lacking in any level of satisfactory description:
"yet being loaded on a truck bound for the incineration facility and added to the pit, the first stage in the incineration process."
Indian Head $10 Gold Date Set Album
It's the US Government. You're giving them way too much credit... lol.
We’re these deducted from the mintages?
It's the US Government. You're giving them way too much credit... lol.
no, it was the contractor, Pitney Bowes. within a month of discovering the discrepancy the Government changed contractors and eventually recouped the loss. place blame where it belongs and try to be at least a little objective.
These were unsold items
the mintages reported are sold items.
Interesting, thanks
Successful transactions with : MICHAELDIXON, Manorcourtman, Bochiman, bolivarshagnasty, AUandAG, onlyroosies, chumley, Weiss, jdimmick, BAJJERFAN, gene1978, TJM965, Smittys, GRANDAM, JTHawaii, mainejoe, softparade, derryb
Bad transactions with : nobody to date
Very interesting.... Of course, the gold is somewhere, either 'found' before incineration or melted and in a waste pile...It is an element, it is somewhere. Cheers, RickO
I like how they say accidentally destroyed.
It was the contractor that was responsible, but if it took years for the us mint to notice, that parts on them. Granted, after re-reading the story, it doesn’t really indicate how long it took the mint to notice the coins were missing. They were 2007 minted coins that they noticed were missing in 2013, but they could have been sitting there for years I guess.
The U.S. Mint has detailed protocol for “detrashing” unsold numismatic products kept in inventory. The protocol includes separating the coins from the packaging. The packaging is destined for incineration and the coins are to be melted for metal reclamation.
what I infer from this passage is that there's not necessarily a way to deduce how long PBGS had the coins. the 2007 date isn't relevant to the 2013 date, maybe the Mint kept the coins and was selling/holding until ______. all we know from the article is that the coins were sent to PBGS by the US Mint at some point and then at some later point the Mint asked where they were. an internal PBGS audit discovered they were gone, presumably incinerated, and the Mint then changed contractors within a month.
look, I'm not a crusader who's out to defend the Government, they make their fair share of blunders, but let's not confuse the facts.