'Pawn Stars' Shop May Have Melted Stolen $50,000 Coin Collection

[The Straight Story]

'Pawn Stars' Shop May Have Melted Stolen $50,000 Coin Collection

A man whose $50,000 coin collection was first stolen, then hocked, cannot recover it from Las Vegas' famous "Pawn Stars" pawn shop. Reason: The hock shop claims it melted the coins down.

According to a criminal complaint filed by the State of Nevada in Clark County Justice Court, a coin collection valued by its owner, David Walters, at up to $50,000, was stolen from Walters' Las Vegas home in November 2013 by Walters' niece, Jennifer Beckman.

Court documents say Walters' collection--kept in a bag hidden under a dresser--contained such rarities as a 1903 St. Gaudens $20 gold piece and Silver Morgan coins from the 1880s. It also contained contemporary 1 oz. American Buffalo gold pieces.

The complaint alleges Beckman stole the collection in installments, taking parts of it on three different occasions to Las Vegas' Gold and Silver Pawn shop, where, it says, she sold them. The shop is the setting for the hit History Channel TV series "Pawn Stars."

http://abcnews.go.com/Business/pawn-stars-pawn-shop-melted-stolen-coins/story?id=22851656

[warrior1]

1. Why would they melt them down if it wasn't to hide the evidence

Sounds like a conspiracy to me.

[sabbat hunter]

3. they would be melted down

if they would be worth more for their bullion value than for the value as a coin.

Additionally, did the owner have the coins insured? Is there any proof other than his word that they are worth 50k?

Smells fishy to me.

[greytdemocrat]

7. Yep.

I have coins worth 1 BILLION dollars! Who says so?? Me.

This story is missing some pieces.

[sabbat hunter]

2. well based on the article

the shop is not at fault, the followed the law of what they are supposed to do with items that are pawned/sold to them. David Walters waited too long to report the theft.

Why was he keeping such valuable items in his home in a plastic bag under a dresser, instead of in either a safe at his home, or a safe deposit box?

[former9thward]

5. Probably because he is cheap.

Penny wise Pound foolish as they say.

[dembotoz]

4. aw heck i was hoping they would move to msnbc for a new show-pawn shop stars behind bars

[Codeine]

6. They waited plenty of time.

Pay attention to your shit or keep it in a safe place.

[democratisphere]

8. AGREED!

The coins should have been in a safe deposit box or a locked safe bolted to the premises.

[Logical]

9. Pawn Stars is so fake. Planted "customers" and pre-arranged deals. n-t

[sabbat hunter]

10. a reality show faked?

the hell you say!

[Logical]

11. LOL, I know! :-)

[Incitatus]

12. Of course, but it's still more interesting than Hardcore Pawn.

You at least see some cool items and learn a few tidbits about history. Watching people scream that their fake jewelry is real and demand money for 30 year old tvs and broken electronics gets old real fast.

[Logical]

13. Yes, I like seeing the stuff they bring in and the story behind it......

but I would be happy if they just admitted it is a set up.

[sendero]

14. Not buying it...

..... even a duffer could identify such coins as valuable. No way they melted these coins, not a chance.

[VScott]

15. Condition is a big factor

Thrown under the bed in a bag doesn't give me much confidence in how well these coins were maintained, or what shape they were in from the start.

For all we know, the original owner bought a coin guide at a book store, looked up the examples and went with the higher prices.

[sendero]

16. The representation is..

.... that the coins were worth 50K. If so, they were not junk.

[bluestate10]

17. The guy who said that he owned them claims that they are worth $50K.

The condition of even rare coins is an important factor in their value. If the coins were in crap shape, they might be worth more melted down.

[CVN-68]

18. The only one representing them as worth $50,000

is the guy they were stolen from.
The Pawn shop in no way did anything wrong and they probably were melted down.

[VScott]

19. The original owner claimed they were worth 50k

Without documentation and proof of their value from a reputable grading service, they have questionable
worth in the coin collectors circle.

Yes... I know "Pawn Stars" is a reality show, and they offer obscenely undervalued prices for the stuff people bring in (what pawn shop doesn't?).

But, these guys are too high profile and have so much of a following that they're not going to risk their reputation for a mere $50,000.

[Jenoch]

20. My dad has a couple of bank bags filled with old coins.

He has a lot of Morgan silver dollars, pre-1964 quarters and dimes, and several hundred steal pennies. He probably should have sold the silver when it was $47/ounce. I don't think any of the coins are woeth more than their value in silver.

I also do not believe any of the stolen coins in this story were worth more than their weight in metal. I'm sure every coin was checked out.

As to Pawn Stars, the show was much more interesting before they started to do the 'Chumlee skits'. Of course the producers are bringing n people with interesting items. They clear the store, out in some extras and record the show. None of the Harrisons or Chumlee are at the store anymore unless they are producing the TV show.