Coin theft at Texarkana shop

logger7

Date: 10/28/2022

Type of Incident: THEFT

Investigating Agency: Texarkana PD

Location: Texarkana,TX

Details:

On October 28, 2022 the subjects pictured below were responsible for the theft of

seven one ounce Gold Eagles from a coin shop in Texarkana, Texas. The subjects

entered the shop wanting to buy several one-ounce gold eagles for a present. The

subjects had a large amount of cash and wanted them wrapped separately and

put in a box. The subjects then requested to see silver eagles. At the end of the

transaction the subjects were short of cash and advised they needed to get the

additional cash from their vehicle. The subjects left and did not return.

The subjects were driving a grey or silver Enclave and may be traveling through

Texas, Louisiana and Oklahoma. https://files.constantcontact.com/f0e00abc001/ccfa906b-4a51-45dc-b660-4eb1ba5dc28b.jpg

Anyone with information contact:

Doug Davis

ricko

Thieves - rotten low life punks. Hope they nail them. Cheers, RickO

WillieBoyd2

How does anyone know that they are gypsies?

PeakRarities

So the shop owner let them take possession of the eagles prior to payment?

Fraz

@DeplorableDan said:
So the shop owner let them take possession of the eagles prior to payment?

That’s how they roll. Forget any stereotype that informs you.

Cougar1978

I can’t understand letting someone let alone strangers take possession of a big ticket order that has not been paid for.

Their screwball request have them wrapped and put in a box before payment should have been a red flag to the owner

When something gets screwball watch out.

At shows I don’t allow material that hasn’t been paid for leave my table. I don’t allow people open my cases rummage thru. In negotiating a deal on multiple items on top my display case I keep control at all times. Take your eyes away they could steal it especially currency. Even my collector coin binder is in the case and if showing them will take it out put on top of closed case showing page by page.

JBK

The key here is wrapping the coins separately and putting them into a box. Slight of hand techniques are then deployed to swap them out with dummy coins/packages.

The exact same scam was discussed on these forums a few years ago.

Fraz

@Cougar1978 said:
I can’t understand letting some.,.

You have the savvy—“confidence men” is not an accidental locution.

johnny9434

the whole thing reaks

1630Boston

Tricksters use misinformation, self-interest, urgency, social proof, or misdirections to make you do something you never would with a clear mind.

Smudge

Sounds familiar. A couple of years ago we were getting reports like this on the board.

silverpop

something called basic human greed came into play and overruled common sense, the owner saw $$$ in their hand and hoped to score big $$$$ and in the end got taken by another persons greed

logger7

I got a call last week from a seller with Krugs and an MS62 Saint; I recommended he contact Apmex. I'm just not thrilled by $50 profits/ oz on gold bullion where you have to tie up a lot of money and try to find the top buyer and wait for their check. Likely the dealer was tired of sitting on a lot of bullion and did not have their wits about them.

MFeld

@silverpop said:
something called basic human greed came into play and overruled common sense, the owner saw $$$ in their hand and hoped to score big $$$$ and in the end got taken by another persons greed

That’s quite an assumption on your part. Many dealers sell items at fair prices for cash and aren’t necessarily greedy.

MasonG

Score big $$$$ by selling seven one ounce gold bullion eagles? Seems unlikely.

jmlanzaf

@silverpop said:
something called basic human greed came into play and overruled common sense, the owner saw $$$ in their hand and hoped to score big $$$$ and in the end got taken by another persons greed

Theft is not the same as greed.

And making a sale is not greed, it's the whole purpose of retail.

jmlanzaf

@MasonG said:
Score big $$$$ by selling seven one ounce gold bullion eagles? Seems unlikely.

Yeah. The greedy store owner was trying to make $400 on an $12,000 transaction. It should be against the law.

I don't know what is wrong with some of our fellow board members.

logger7

This was a broadcast from Doug Davis of NCIC that I copied and pasted. I want to apologize for using language that may have offended anyone. The moderators let me know I was on notice for the wording which has since been edited.

TwoSides2aCoin

Poor thieves. They need to get on our system. Free food and stuff. Maybe they'll stop.

csdot

@jmlanzaf said:

@MasonG said:
Score big $$$$ by selling seven one ounce gold bullion eagles? Seems unlikely.

Yeah. The greedy store owner was trying to make $400 on an $12,000 transaction. It should be against the law.

I don't know what is wrong with some of our fellow board members.

Nice premiums if you can get them for that. $400/7 = $57/oz premium over spot.

Around here gold seems to be selling with a $230/oz premium, so 7 ounces x 7 = $1,610.

jmlanzaf

@csdot said:

@jmlanzaf said:

@MasonG said:
Score big $$$$ by selling seven one ounce gold bullion eagles? Seems unlikely.

Yeah. The greedy store owner was trying to make $400 on an $12,000 transaction. It should be against the law.

I don't know what is wrong with some of our fellow board members.

Nice premiums if you can get them for that. $400/7 = $57/oz premium over spot.

Around here gold seems to be selling with a $230/oz premium, so 7 ounces x 7 = $1,610.

But you can't typically buy them at spot either. Most places around here are around $75 per ounce. Wholesale bid is 8.4% over spot for eagles. Retail is 11% over. I don't know any dealer making over $100 per ounce. Most are at 50 to 60.

Bullion is very liquid but very low margin.