I would really like to know the details of this theft. They seem to be keeping it all very confidential. Leads me to believe the details have some points that may lead to the perpetrators. Cheers, RickO
Just saw the local news channel do a story on this – the Brinks truck was driving from San Francisco down to Pasadena for a large jewelry show – it stopped at a rest stop on the way down and that’s when the truck was robbed Dash there were no additional security cars or additional personnel outside of the truck that was following the truck Dash the insured value according to Brinks was $10 million total but the jewelers are saying that there was over $100 million in diamonds and other jewelry, and about 100 Rolex watches,
And I’ll post anything new I hear about it from the local news
Retired Collector & Dealer in Major Mint Error Coins & Currency since the 1960's.Co-Author of Whitman's "100 Greatest U.S. Mint Error Coins", and the Error Coin Encyclopedia, Vols., III & IV. Retired Authenticator for Major Mint Errors for PCGS. A 50+ Year PNG Member.A full-time numismatist since 1972, retired in 2022.
Whenever I hear about a jewelry heist I am often suspicious about the declared value. Jewelry tends to have very high markups at retail.
This does not diminish the crime, of course, but it is usually something I wonder about. A jewelry dealer's inventory would seem be at the pinnacle of its value if stolen.
All the reports I’ve been reading say that the insured value is $10 million from 17 jewelers who had material on the truck -but the jewelers are saying it’s $100 million worth of value – “they never ensure for full value because it’s very expensive” according to those reports
Retired Collector & Dealer in Major Mint Error Coins & Currency since the 1960's.Co-Author of Whitman's "100 Greatest U.S. Mint Error Coins", and the Error Coin Encyclopedia, Vols., III & IV. Retired Authenticator for Major Mint Errors for PCGS. A 50+ Year PNG Member.A full-time numismatist since 1972, retired in 2022.
@FredWeinberg said:
All the reports I’ve been reading say that the insured value is $10 million from 17 jewelers who had material on the truck -but the jewelers are saying it’s $100 million worth of value – “they never ensure for full value because it’s very expensive” according to those reports
Both numbers are probably correct. $100 million retail is about $10 million in metals and stones.
Certainly nothing suspicious here. We travel with $10,000,000 worth of stuff all the time. We don’t feel the extra $1000 it would cost for additional security is a proper investment.
Doesn’t everyone stop at rural, semi- secure pull-outs to stretch their legs? Maybe switch drivers at a safe place.
Nothing to see here 😎🙀🦫
@FredWeinberg said:
All the reports I’ve been reading say that the insured value is $10 million from 17 jewelers who had material on the truck -but the jewelers are saying it’s $100 million worth of value – “they never ensure for full value because it’s very expensive” according to those reports
They probably insure for an approximation of their actual cost. They don't want to pay insurance on "retail" value since the markups are so high. This makes good business sense.
@FredWeinberg said:
All the reports I’ve been reading say that the insured value is $10 million from 17 jewelers who had material on the truck -but the jewelers are saying it’s $100 million worth of value – “they never ensure for full value because it’s very expensive” according to those reports
Both numbers are probably correct. $100 million retail is about $10 million in metals and stones.
.
that makes sense to me. like with coins, we can calculate face or numismatic value.
@FredWeinberg said:
All the reports I’ve been reading say that the insured value is $10 million from 17 jewelers who had material on the truck -but the jewelers are saying it’s $100 million worth of value – “they never ensure for full value because it’s very expensive” according to those reports
They probably insure for an approximation of their actual cost. They don't want to pay insurance on "retail" value since the markups are so high. This makes good business sense.
In other words, they insure for replacement cost which makes sense.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
Certainly nothing suspicious here. We travel with $10,000,000 worth of stuff all the time. We don’t feel the extra $1000 it would cost for additional security is a proper investment.
Doesn’t everyone stop at rural, semi- secure pull-outs to stretch their legs? Maybe switch drivers at a safe place.
Nothing to see here 😎🙀🦫
I'm smellin what you're cookin.
"May the silver waves that bear you heavenward be filled with love’s whisperings"
"A dog breaks your heart only one time and that is when they pass on". Unknown
Certainly nothing suspicious here. We travel with $10,000,000 worth of stuff all the time. We don’t feel the extra $1000 it would cost for additional security is a proper investment.
Doesn’t everyone stop at rural, semi- secure pull-outs to stretch their legs? Maybe switch drivers at a safe place.
Nothing to see here 😎🙀🦫
I'm smellin what you're cookin.
Are you smelling an inside job or insurance fraud?
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
In watching Animal Kingdom it seems like an ideal heist the Cody’s (Oceanside,CA) would plan / pull off. The latest episode last night was awesome. The flashbacks to the young Janine super. That actress ideal for the role. Man I really like her.
I can’t imagine the stress on a security co driver driving around with that stuff. It wb like swimming in shark infested waters bleeding like heck. So many down and out, downsized, desperate make ends meet, disenfranchised.
Also there was a store smash and grab a couple days ago:
Date: 7/19/2022
Type of Incident: Burglary
Investigating Agency: Alhambra PD
Location: Alhambra, CA
Details:
During the past several months organized gangs have targeted shops in California.
At approximately 3:45am on 7/19/2022 Alhambra Coin Center was the target of a smash and grab burglary. A stolen vehicle with Texas license plates was used to smash through the front window knocking down the security gates. After the window was shattered approximately nine suspects ran from across the street and entered the store. The suspects were inside the store for one minute and thirty seconds and stole $80-100K in luxury bags and products.
Police responded in several minutes but suspects abandoned the stolen vehicle and left the scene.
Dealers should be on high alert. Organized groups will place the targeted business under surveilance during open and closed hours. It is common for suspects to visit a shop prior to committing the offense. Employees should document any suspicious persons who enter the store and write down their description including vehicle if possible. False alarms may be a tactic of suspects to determine response time of local police. It is important for shop owners to know whether the central monitoring station contacts the owner first before calling police. If that is the case, that further delays police response.
Camera and alarm systems should be evaluated on a yearly basis to insure you have updated and quality equipment. Video/cameras are key to most investigations but law enforcement cannot prosecute what they cannot see!
@alpha33 said:
Big deal. I thought this was a coin collectors forum? I just had this bruin in my yard 1 hour ago stealing apples from my tree.
I like it!.......Last summer I went to Arizona for a week. When I got home I met my new family member...... A bear had taken up residence on the front porch..... Guarding the house I guess?.....No damage except for the wood pile. He's moved on now, back into the brush..... See him every so often.
During the past several months organized gangs have targeted shops in California.
Yes, unfortunately the situation is not good. I've talked to three people recently who live in very upscale areas around the Los Angeles area.....the ladies are very frightened about leaving the house, especially after dark....it's sad.
Comments
..
N.Y. Times story on Brinks truck robbery. Troubling.
I would really like to know the details of this theft. They seem to be keeping it all very confidential. Leads me to believe the details have some points that may lead to the perpetrators. Cheers, RickO
Just saw the local news channel do a story on this – the Brinks truck was driving from San Francisco down to Pasadena for a large jewelry show – it stopped at a rest stop on the way down and that’s when the truck was robbed Dash there were no additional security cars or additional personnel outside of the truck that was following the truck Dash the insured value according to Brinks was $10 million total but the jewelers are saying that there was over $100 million in diamonds and other jewelry, and about 100 Rolex watches,
And I’ll post anything new I hear about it from the local news
Whenever I hear about a jewelry heist I am often suspicious about the declared value. Jewelry tends to have very high markups at retail.
This does not diminish the crime, of course, but it is usually something I wonder about. A jewelry dealer's inventory would seem be at the pinnacle of its value if stolen.
All the reports I’ve been reading say that the insured value is $10 million from 17 jewelers who had material on the truck -but the jewelers are saying it’s $100 million worth of value – “they never ensure for full value because it’s very expensive” according to those reports
Both numbers are probably correct. $100 million retail is about $10 million in metals and stones.
Well now 🤨
Certainly nothing suspicious here. We travel with $10,000,000 worth of stuff all the time. We don’t feel the extra $1000 it would cost for additional security is a proper investment.
Doesn’t everyone stop at rural, semi- secure pull-outs to stretch their legs? Maybe switch drivers at a safe place.
Nothing to see here 😎🙀🦫
🎶 shout shout, let it all out 🎶
In what part of the country do you live alpha? I’m in East Tennessee- black bears are a daily part of life here!
They probably insure for an approximation of their actual cost. They don't want to pay insurance on "retail" value since the markups are so high. This makes good business sense.
.
that makes sense to me. like with coins, we can calculate face or numismatic value.
In other words, they insure for replacement cost which makes sense.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
I love bears, though I'm wise enough to leave them alone.
What's this thread about again?
Stupidity mascarading as a crime
🎶 shout shout, let it all out 🎶
I'm smellin what you're cookin.
"A dog breaks your heart only one time and that is when they pass on". Unknown
Are you smelling an inside job or insurance fraud?
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
In watching Animal Kingdom it seems like an ideal heist the Cody’s (Oceanside,CA) would plan / pull off. The latest episode last night was awesome. The flashbacks to the young Janine super. That actress ideal for the role. Man I really like her.
I can’t imagine the stress on a security co driver driving around with that stuff. It wb like swimming in shark infested waters bleeding like heck. So many down and out, downsized, desperate make ends meet, disenfranchised.
Likely too many parties involved for a fraud conspiracy.
Could be a multitude of scenarios. I would not jump to conclusions given the lack of detail.
Also there was a store smash and grab a couple days ago:
Date: 7/19/2022
Type of Incident: Burglary
Investigating Agency: Alhambra PD
Location: Alhambra, CA
Details:
During the past several months organized gangs have targeted shops in California.
At approximately 3:45am on 7/19/2022 Alhambra Coin Center was the target of a smash and grab burglary. A stolen vehicle with Texas license plates was used to smash through the front window knocking down the security gates. After the window was shattered approximately nine suspects ran from across the street and entered the store. The suspects were inside the store for one minute and thirty seconds and stole $80-100K in luxury bags and products.
Police responded in several minutes but suspects abandoned the stolen vehicle and left the scene.
Dealers should be on high alert. Organized groups will place the targeted business under surveilance during open and closed hours. It is common for suspects to visit a shop prior to committing the offense. Employees should document any suspicious persons who enter the store and write down their description including vehicle if possible. False alarms may be a tactic of suspects to determine response time of local police. It is important for shop owners to know whether the central monitoring station contacts the owner first before calling police. If that is the case, that further delays police response.
Camera and alarm systems should be evaluated on a yearly basis to insure you have updated and quality equipment. Video/cameras are key to most investigations but law enforcement cannot prosecute what they cannot see!
I like it!.......Last summer I went to Arizona for a week. When I got home I met my new family member...... A bear had taken up residence on the front porch..... Guarding the house I guess?.....No damage except for the wood pile. He's moved on now, back into the brush..... See him every so often.
P.S. Where do you live.....it's very beautiful.
Yes, unfortunately the situation is not good. I've talked to three people recently who live in very upscale areas around the Los Angeles area.....the ladies are very frightened about leaving the house, especially after dark....it's sad.