US Mint Worker stole millions in dollar coins

There are those of us who are sad to no longer have rolls of coins being delivered and then there is a worker at the US Mint who has admitted to stealing millions in coins.

William Gray admitted that he took $2.4 million in $1 “error” presidential coins and sold them to a coin dealer in California by mailing them from New Jersey.

Let’s gather the facts here:

1. $1000 in coins weighs 19.20 lbs – so $2.4 million in coins would have weighed 46,080 pounds.
2. Shipping a 150 lb box from New Jersey to California would cost $200. I’m assuming we would want to insure it and want an adult signature but I’m going to choose to not offset the climate impact of this shipment.

3. We would need to send 308 packages to send all the 46,080 pounds of coins, so the shipment cost would total $61,400.

Let’s ask some questions:

1. How much is an error dollar coin worth? $2? $3? $5?
2. How did the coin dealer pay him $5-$10 million for all the coins?
3. Isn’t Mr Pickles from California? 🙂

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