$8,000 CoinStar find!
RockyMtnProspector
Posts: 754 ✭✭✭✭✭
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TORRINGTON, Ct. — Police say a man stole a valuable coin collection from his father and put it through a Coinstar machine at a local supermarket in order to get money to buy crack cocaine.
Leonard Rinaldi, 53, of Torrington, was arrested on larceny charges in connection with the theft of thousands of dollars worth of valuable coins from his father.
The coins, worth $8,000, were reported stolen on October 11th. Police say Rinaldi told them he stole the coins, took them to a CoinStar machine at a Stop and Shop and received approximately $60 for them. He then told police he used the money to buy crack cocaine. Police say he has a lengthy criminal record and was living at home with his father at the time of the theft.
kdvr.com/2016/11/17/son-dumped-fathers-coin-collection-into-coinstar-machine-for-money-to-buy-crack/
Gonna get me a $50 Octagonal someday. Some. Day.
Comments
Very sad story. Hope the father could recover the coins if he acted quickly enough.
The first red flag was he is 53 years old and hasn't moved out of his fathers house yet
Two suggestions; #1. Coinstar should step up to the plate and return the valuable coins to the right owner ( I know, that would be a miracle!) and #2. Tell me that Coinstar isn't aware of rare and valuable coins.
The probable outcome; "To bad, so sad" Coins are gone forever. I bet this happens more times than reported. Coinstar makes alot more profit than just the regular fee.
One More Thing... Coinstar can be called a "coin dealer" as well.
"Jesus died for you and for me, Thank you,Jesus"!!!
--- If it should happen I die and leave this world and you want to remember me. Please only remember my opening Sig Line.doesn't coin star reject any coins other than those in circulation?
I've heard of POS coins , but a POS son takes the cake
I believe their coin machines are based on size, weight and magnetic qualities.
From the Coinstar FAQ's
"Do I need to sort my coins before using the Coinstar kiosk?
No sorting, counting or rolling required. Make sure your coins have been cleared of all dirt, debris and other objects prior to visiting the kiosk to ensure a successful transaction. Items like food, screws, dirty or sticky coins and other objects will jam the machine.
Click here for a list of unacceptable items.
Coinstar cannot accept Eisenhower silver dollars, 1943 steel pennies, pure silver, commemorative or foreign coinage. They may not be recognized by our kiosk or returned to you. Items such as keys, jewelry and other valuables should also not go into the kiosk."
The list of unacceptable items is pretty funny. Here's a link = coinstar.com/CoinstarFAQ Look under COIN SORTING.
A trivia note about Outerwall, the parent company of Coinstar and more you didn't realize:
Since our inception in 1992 with Coinstar, we've always been looking for ways to provide value, convenience and simplicity to consumers and retailers with our kiosk brands:
Coinstar—a leader in money services
Coinstar Exchange—instant cash for unused gift cards
Redbox—the best value in home entertainment
ecoATM—instant cash for recycling phones and other devices
Gazelle—buy and sell used devices online
Beyond our network of more than 64,000 kiosks, we're re-imagining new retail solutions to fit everyday consumer needs now—and into the future.
I mistakenly tried to put some change through and had several silver rosies in it. The were rejected (thankfully!!)
bob:)
I Just hope that they were not damaged by those counting wheels! I am fairly certain that the bigger majority of collectors have seen those marks before. OUCH!
BST transactions: dbldie55, jayPem, 78saen, UltraHighRelief, nibanny, liefgold, FallGuy, lkeigwin, mbogoman, Sandman70gt, keets, joeykoins, ianrussell (@GC), EagleEye, ThePennyLady, GRANDAM, Ilikecolor, Gluggo, okiedude, Voyageur, LJenkins11, fastfreddie, ms70, pursuitofliberty, ZoidMeister,Coin Finder, GotTheBug, edwardjulio, Coinnmore, Nickpatton, Namvet69,...
Unacceptable Items
1943 US pennies, acorns, alcohol wipes, animal crackers, animal or human teeth, bandages, batteries, beads, bells, belt clips, bent coins, bolts, bottle caps, broken glass, bullets, buttons, candy, candy wrappers, cardboard, cat litter, chains, clay, commemorative coins, confetti, contact lenses, cotton balls, cotton swabs, crayons, cuff links, damaged coins, dirt, dirty coins, dog food, drill bits, ear plugs, earthworms, Eisenhower silver dollars, erasers, feathers, finger nails, flash drives, foam objects, foreign coins, fossils, french fries, fruit snacks, glitter, gold fish, grass, guitar picks, gum , gum wrappers, gummy worms/bears, hair clips, hay, jar lids, jewelry, key chains, keys, lint, marbles, matches, miniature dice, mints, mud, nails, name tags, nuts/bolts, paper clips, pen caps, pencils, pills, pine cone parts, pins, pipe cleaners, Play-Doh, playing cards, POGs, pop can tabs, popsicle sticks, quilt squares, ribbons, rocks, rubber bands, rubber lid seals, sand, screw driver bits, screws, SD cards, seeds, shells, soap, soda, springs, stickers, tape, tie tacks, tire caps, tissues, tokens, tooth picks, tree bark, twigs/sticks, vegetables, wall hooks, washers, watch bands, wheat, wires, yarn
I have found silver Rosies in the reject slot...most recently a '57 a few weeks ago...yesterday, just a plain old zincoln with some corrosion...Cheers, RickO
a mistake is a mistake but not like that. have a good one
I don't know why people cash out at coinstars. At least legit people. They lose almost 11% of their money. I get convenience but you're literally giving away money. I'll be the person holding up the checkout line paying with change, before i give away $11 out of every hundred.
One good reason is that neither of my banks take loose change, have a in house counter or take rolled coins.
So, it's spend them or coinstar them.
bob
@AUandAG I bank with Key and they allow it to be deposited. I've never heard of a bank not allowing legal tender to be deposited. I'd spend it as opposed to paying a fee to get rid of change. 11% is a ripoff.
Holidays are coming...the coinstar will get busy.... happens every year...Cheers, RickO
I have about 5 large Christmas popcorn tins filled with Lincoln cents, mostly memorials and a mix of pre and post 82 but i'd think the majority is probably post. I'm torn between searching for varieties and just dumping them at a coinstar. I don't really have the time or patience to search for varieties especially from a ton of tiny Lincolns and I'd have to find some amazing stuff or a huge amount of minor ones with decent premiums to make it worth it. They have just sat in my garage the last year or two and probably will until one day i just say coinstar it is.
I just can't do that.... would bug me terribly thinking I may have missed a find.... I would have nightmares about processing a '55 DDO....
Cheers, RickO
$8,000 face of modern coins, or $8,000 of assumed value in modern coins or even maybe a few hundred key date, high grade Wheat Cents/Indian Cents ? Isn't accurate journalism wonderful ?
BTW OP, link is broken.
"Everything is on its way to somewhere. Everything." - George Malley, Phenomenon
http://www.americanlegacycoins.com
I wonder what percentage of stolen collection are family members?
i love that list! you mean, 11% of my gold fish aren't worth anything? i assume they are talking about gold fish crackers? crazy
for clarity, my original post should have read:
doesn't coin star reject coins other than those currently in circulation?
and it appears that is true, judging by this list.
therefore, my question is: how did the crack head son get $60 from a coinstar with his father's "valuable coin collection" ?
it doesn't make sense, unless the value was actually $60 in change.
either way, the guy stole his dad's money for drugs. it's pretty sad. but this story seems fishy.
Whoa right in my back yard. Hope CoinStar is working with the police to have the owner reunited with the coins stolen from him.
A friend used to be the CEO of CoinStar.
Asked him if I could be their numismatist.
After he explained the process of coins that are rejected and the logistics of massive numbers of coins being moved by forklifts in a secure Brinks facility, I realized it was pointless.
Hope the old man can get his coins back but doubt that he will.
My CU doesn't take loose change.
They do have a coin counting machine, but it is often out of order....due to people trying to put non-acceptable coins in there and causing issues (non-acceptable in this case means non US coins....where I live, there are many international people and I have OFTEN found, in addition to CAN coinage, way too much EU and Indian coinage).
For Coinstar, yes, they take that % fee, but I have seen before, if they are still doing it, that they give you straight across value if you get a gift card at the time. So, maybe that's why some folks do that.
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
For clarification my two banks are neighborhood smalls. Washington Federal and they just don't do change or rolls. They will not order for me either. The other is a small Chase that does the same and just refers me to a larger Chase miles away. Neither has a coin counting machine for the public and both claim not to have one for themselves (hard to believe). They just do not want to deal in coin. Chase will order me $2 bills and that is it.
bob
I've never had a bank deny a coin deposit and wasn't aware some didn't. My mistake. I know you get gift cards at coinstars, but a cash out costs 11%. To me it's a ripoff. If I couldn't bank it I'd just spend it. Paying for the convenience is giving them free money. Enough people get my money, I'm not going pay someone for just taking it.
I saw this story. Really sad for the father and he'll most likely never see any of that collection again.