Man charged with selling fake coins
Barry
Posts: 10,100 ✭✭✭
In our local newspaper today:
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A local man passed off a collection of replica silver coins as real and made more than $3,200 before getting arrested last week.
Police said Kenneth Schields, 50, of Maplewood Drive in Middletown, has been charged with three counts of theft by deception and criminal attempt at theft and sent to Bucks County prison on $75,000 bail.
The Gold Guys tipped police off that Schields was pulling a scam.
Steve Myer and Scott Collins — the Gold Guys — had set up shop last week in the Sheraton Bucks County, offering to purchase precious metals from residents.
The two men have been in business together for about two years. Collins operated a similar business in the 1980s.
They said they've seen people try to pass off a coin here or there, but last week, they ran into something new.
On July 15, a man sat down in front of Myer with a coin carrying case containing more than 100 silver coins he wanted to trade.
As soon as Myer weighed the coins, he knew something was wrong. Myer said the pieces were lighter than they should have been. He took a second look at the man and realized he'd seen him before at other precious metals events.
Myer confiscated the book of coins and called police.
Police said Schields had passed off fake coins during previous precious metals expos. They believe Schields bought the replicas on the Internet from someone in China. Police said he made $3,239 off the scam before he was caught.
text
A local man passed off a collection of replica silver coins as real and made more than $3,200 before getting arrested last week.
Police said Kenneth Schields, 50, of Maplewood Drive in Middletown, has been charged with three counts of theft by deception and criminal attempt at theft and sent to Bucks County prison on $75,000 bail.
The Gold Guys tipped police off that Schields was pulling a scam.
Steve Myer and Scott Collins — the Gold Guys — had set up shop last week in the Sheraton Bucks County, offering to purchase precious metals from residents.
The two men have been in business together for about two years. Collins operated a similar business in the 1980s.
They said they've seen people try to pass off a coin here or there, but last week, they ran into something new.
On July 15, a man sat down in front of Myer with a coin carrying case containing more than 100 silver coins he wanted to trade.
As soon as Myer weighed the coins, he knew something was wrong. Myer said the pieces were lighter than they should have been. He took a second look at the man and realized he'd seen him before at other precious metals events.
Myer confiscated the book of coins and called police.
Police said Schields had passed off fake coins during previous precious metals expos. They believe Schields bought the replicas on the Internet from someone in China. Police said he made $3,239 off the scam before he was caught.
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Comments
You do have to wonder why someone would jeopardize their freedom over a puny $3,200 though.
<< <i>A scammer trying to scam a scammer. No love lost in my book.
You do have to wonder why someone would jeopardize their freedom over a puny $3,200 though. >>
I would guess he figured the worst-case scenario would be someone declining to buy the coins, never imagining a potential buyer might call the police.
New collectors, please educate yourself before spending money on coins; there are people who believe that using numismatic knowledge to rip the naïve is what this hobby is all about.
<< <i>A scammer trying to scam a scammer. No love lost in my book.
You do have to wonder why someone would jeopardize their freedom over a puny $3,200 though. >>
Also a low price for one's soul.
Buying top quality Seated Dimes in Gem BU and Proof.
Buying great coins - monster eye appeal only.
I ordered a few of these to see the quality and learn what to look for. The 1928 peace dollar was hard to catch also.
And just FYI Neither came with the REPLICA stamp on the obverse....
china fakes peace dollar pics
factory pics
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