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Home invasions for rare coins on rise, collectors say

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BY DAVID J. MITCHELL
River parishes bureau

GONZALES — On Dec. 1, two masked men broke into a Richmond, Texas, home, waited for the family members to return, tied them up and put a gun in a 12-year-old’s mouth to make her father say where his valuables were, Texas authorities said.

The men got away with $500,000 in precious metals and cash from the Houston-area family, as well as the family’s sport utility vehicle, authorities said.

The father is in the gold exchange business, Maj. Jerry Clements of the Fort Bend County, Texas, Sheriff’s Office, confirmed.

The home invasion — still unsolved — is one of many frauds, robberies and even some killings that Doug Davis, founder of the Numismatic Crime Information Center, is tracking.

Davis, a Texas policeman who retired after 34 years of service, said he posts summaries of the crimes on his website to notify other dealers and collectors in hopes of getting law enforcement authorities crucial tips.

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Federal Way hopes 'cash for gold' law reduces burglaries | Gold is selling at all-time high

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By CASEY J. OLSON
Federal Way Mirror reporter

City officials hope to curb the amount of residential burglaries that target jewelry and other precious metals in Federal Way.

The Federal Way City Council unanimously passed an ordinance April 19 in hopes of curbing the problem.

The jump in property crime in the city is being blamed on the proliferation of “cash for gold” businesses, which offer on-the-spot cash for precious metals, according to officials. Gold is currently selling at more than $1,500 an ounce, which is an all-time high.

From 2009 to 2010, Federal Way experienced an increase in residential burglaries. In 2009, 559 of these crimes were reported. Last year, that number rose to 645. This reflects a 15 percent increase. Burglary cases involving stolen jewelry jumped from 110 to 124 — a 13 percent increase — in the same time frame, according to Federal Way Police Chief Brian Wilson.

Police suspect stolen jewelry is finding its way to the “cash for gold” dealers who have set up shop on a temporary basis, looking to make a quick profit.

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Second man arrested in gold, silver coin heist

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A second “refugee claimant” has been arrested in connection with a Pearson Airport theft ring whose members allegedly stole $130,000 in rare gold and silver coins from a New Brunswick currency dealer. Police said the theft “took a toll” on the unidentified victim, who is described as a small Fredericton businessman who was shopping for deals in Toronto.

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Coin Dealer Sentenced to 60 Months in Federal Prison for Stealing Coin Collections from Senior Citizens

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PRESS RELEASE: Coin Dealer Michael D. Amato was Sentenced to 60 Months in Federal Prison for Stealing Coin Collections from Senior Citizens

U.S. Attorney’s Office
January 24, 2012
Northern District of Texas
(214) 659-8600

AMARILLO, TX—Michael D. Amato was sentenced today by U.S. District Judge Mary Lou Robinson to 60 months in federal prison, and ordered to pay $603,500 in restitution to his victims, following his October 2011 guilty plea to a one-count indictment charging interstate transportation of stolen property, announced U.S. Attorney Sarah R. Saldaña of the Northern District of Texas. Judge Robinson ordered that Amato surrender to the Bureau of Prisons on February 21, 2012.

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