Error coins: Worker stole $2.4 million from US Mint

Error coins – missing some lettering – were taken and sold to dealer, Mint police officer admits in court. Error coins had nominal value of $2.4 million.

  • close
    This John Adams $1 Coin (pictured here during its release four years ago) is part of US Mint's series of presidential coins. On Sept. 8, 2011, a police officer with the Mint admitted in court that he stole $2.4 million worth of so-called error coins – presidential coins uncirculated because they were missing some letters on the edge.
    View Caption
  • About video ads
    View Caption
of

A former police officer for the U.S. Mint in Philadelphia has admitted to stealing $2.4 million worth of "error coins" and selling them to a coin distributor in California.

U.S. Attorney Paul J. Fishman in New Jersey said 64-year-old William Gray pleaded guilty on Thursday to charges of theft of government property and tax evasion.

Gray, of North Wildwood, N.J., had worked at the U.S. Mint since 1996. In a federal court in Camden, N.J., he admitted taking $1 presidential coins that were missing edge lettering, knowing they would be considered more valuable to coin collectors because they were considered "mint errors." He mailed them from New Jersey.

He was freed on $50,000 bail. He is scheduled to be sentenced on Dec. 20.

Share this story:

We want to hear, did we miss an angle we should have covered? Should we come back to this topic? Or just give us a rating for this story. We want to hear from you.

Loading...

Loading...

Loading...

Save for later

Save
Cancel

Saved ( of items)

This item has been saved to read later from any device.
Access saved items through your user name at the top of the page.

View Saved Items

OK

Failed to save

You reached the limit of 20 saved items.
Please visit following link to manage you saved items.

View Saved Items

OK

Failed to save

You have already saved this item.

View Saved Items

OK