Dang that's a lotta gold! Someone took a big hit. I figure that's about 120 ounces of gold! Hope they catch the malefactors ... and @habaraca I sure hope it wasn't yours!
Wow.... I certainly hope that is solved and the coins recovered....with the last known station, it is narrowed down a bit... Not much detail there. I hope we get follow up reports on this. Cheers, RickO
Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
@davewesen said:
The 586 French 20 Francs is not something seen very often.
And after they hit the melting pot, those will not be seen again.
I doubt they will be melted. It's not like they have serial numbers that can identify them as coming from a specific source. Also, it would be difficult to sell a large unmarked ingot of gold. If they're smart they'll wait until things cool off and then sell a few at a time here and there in a location far from where the crime took place.
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
We had a gun point robbery in my area last week, Monday. No fire was shot, no-one was hurt. One of the two black robbers did jump over the counter. They took off with cash, no coins. I was driving by shortly after it happened on my way to bowling, there were 4 squad cars there.
Leo
The more qualities observed in a coin, the more desirable that coin becomes!
@davewesen said:
The 586 French 20 Francs is not something seen very often.
And after they hit the melting pot, those will not be seen again.
I doubt they will be melted. It's not like they have serial numbers that can identify them as coming from a specific source. Also, it would be difficult to sell a large unmarked ingot of gold. If they're smart they'll wait until things cool off and then sell a few at a time here and there in a location far from where the crime took place.
Don't agree. The demand for old (19th Cetury) European gold coin is pissy. Lots of this stuff has been melted (legally and honestly) in the last five years. Not really a loss to numismatics. Napoleons and Roosters are kinda drecky, but gold is gold.
I can't imagine sending that amount of gold uninsured.... but I don't think UPS insures it... wonder what the details are. Private insurance hopefully?
@MrEureka said:
Shipping bullion to Germany via the mail seems like a lot of risk for way too little reward, even with insurance.
Oops. Interesting to me, though. I didn't even know that UPS delivered internationally, although it should have been obvious. Then again, I've never received an international package via UPS, and I receive a lot of international packages!
Andy Lustig
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
Hope the sender had private insurance. Seriously doubt ups will cover the loss although they will likely investigate and cooperate with the proper authorities.
Seems to have been an inside job from the info provided. Were the contents correctly described on the attached customs form, showing a value of over $150K?
@davewesen said:
The 586 French 20 Francs is not something seen very often.
And after they hit the melting pot, those will not be seen again.
I doubt they will be melted. It's not like they have serial numbers that can identify them as coming from a specific source. Also, it would be difficult to sell a large unmarked ingot of gold. If they're smart they'll wait until things cool off and then sell a few at a time here and there in a location far from where the crime took place.
I'm thinking they will be melted.
"Gold is money, and nothing else" (JP Morgan, 1912)
"“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)
@savitale said:
How do they sell it once melted? Where does one take a 120 oz blob of 90% gold for a legitimate sale? Just curious.
Something like that would raise a giant red flag at any legitimate refinery. Also, these are coins without serial numbers so once you take them out of their original packaging and put them in fresh plastic tubes it would be impossible to prove their source.
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
Comments
To much of this going on.
Dang that's a lotta gold! Someone took a big hit. I figure that's about 120 ounces of gold! Hope they catch the malefactors ... and @habaraca I sure hope it wasn't yours!
Kind regards,
George
Ughhh....I have a pit in my stomach after reading that. Absolutely horrible!
Wow.... I certainly hope that is solved and the coins recovered....with the last known station, it is narrowed down a bit... Not much detail there. I hope we get follow up reports on this. Cheers, RickO
Iffn yer gonna steal, steal something fenceable.
Yes keep us informed maybe they will get their dues
Copied it to the Coin Dealer Network.
So they were in UPS possession when stolen? Either something sounds fishy or someone hit the random package jackpot.
The 586 French 20 Francs is not something seen very often.
And after they hit the melting pot, those will not be seen again.
I see 12 posts to this thread (including OP) but the post count shows 21....
I doubt they will be melted. It's not like they have serial numbers that can identify them as coming from a specific source. Also, it would be difficult to sell a large unmarked ingot of gold. If they're smart they'll wait until things cool off and then sell a few at a time here and there in a location far from where the crime took place.
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
Does UPS insurance cover bullion? I believe it doesn't.
No Way Out: Stimulus and Money Printing Are the Only Path Left
We had a gun point robbery in my area last week, Monday. No fire was shot, no-one was hurt. One of the two black robbers did jump over the counter. They took off with cash, no coins. I was driving by shortly after it happened on my way to bowling, there were 4 squad cars there.
Leo
The more qualities observed in a coin, the more desirable that coin becomes!
My Jefferson Nickel Collection
Don't agree. The demand for old (19th Cetury) European gold coin is pissy. Lots of this stuff has been melted (legally and honestly) in the last five years. Not really a loss to numismatics. Napoleons and Roosters are kinda drecky, but gold is gold.
I can't imagine sending that amount of gold uninsured.... but I don't think UPS insures it... wonder what the details are. Private insurance hopefully?
Shipping bullion to Germany via the mail seems like a lot of risk for way too little reward, even with insurance.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
UPS is not the mail BTW!
Oops. Interesting to me, though. I didn't even know that UPS delivered internationally, although it should have been obvious. Then again, I've never received an international package via UPS, and I receive a lot of international packages!
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
Hope the sender had private insurance. Seriously doubt ups will cover the loss although they will likely investigate and cooperate with the proper authorities.
Ups is imho the carrier of last resort.
Stolen gold in Philadelphia! It is gone. When perps steal precious metals that cost them nothing, it's sold for weight. Too bad.
BST: endeavor1967, synchr, kliao, Outhaul, Donttellthewife, U1Chicago, ajaan, mCarney1173, SurfinHi, MWallace, Sandman70gt, mustanggt, Pittstate03, Lazybones, Walkerguy21D, coinandcurrency242 , thebigeng, Collectorcoins, JimTyler, USMarine6, Elkevvo, Coll3ctor, Yorkshireman, CUKevin, ranshdow, CoinHunter4, bennybravo, Centsearcher, braddick, Windycity, ZoidMeister, mirabela, JJM, RichURich, Bullsitter, jmski52, LukeMarshall, coinsarefun, MichaelDixon, NickPatton, ProfLiz, Twobitcollector,Jesbroken oih82w8, DCW
Seems to have been an inside job from the info provided. Were the contents correctly described on the attached customs form, showing a value of over $150K?
I'm thinking they will be melted.
"“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)
"I only golf on days that end in 'Y'" (DE59)
Neither UPS or Fed-ex will cover coins. That tell ya anything? I never use either!
How do they sell it once melted? Where does one take a 120 oz blob of 90% gold for a legitimate sale? Just curious.
LIBERTY SEATED DIMES WITH MAJOR VARIETIES CIRCULATION STRIKES (1837-1891) digital album
Something like that would raise a giant red flag at any legitimate refinery. Also, these are coins without serial numbers so once you take them out of their original packaging and put them in fresh plastic tubes it would be impossible to prove their source.
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