Posted on 03/27/2009 4:06:06 PM PDT by JoeProBono
The woman told the bank teller she just needed money to pay for the groceries she had waiting at a local store. Then she traded a small fortune in rare gold coins for a couple hundred bucks, launching a quest to reunite the coins with their rightful owner. Zions Bank and Washington County law enforcement are now trying to solve a mystery that began March 16 when an unknown woman walked into a local Zions Bank branch in the St. George area and handed over 14 of the rare $20 gold Double Eagle coins in exchange for $280. Just based on the price of the gold in the coins, each one is worth 50 times that — or more. The oldest of the coins was minted in 1875 and the most recent was 1927.
(Excerpt) Read more at deseretnews.com ...
oops, I miss read it... Too many articles at one time, need to slow the heart down.
This is a “oh come on” story. If the woman is that stupid she deserves to be taken.
That thought crossed my mind also.
My brother collected cards in the 40s and a few were signed and due to military moves quite a number of times over the years the cards got tossed. There was probably 80 or more cards. His old train sets also got tossed in moves. Sad.
That would be $14,000+ per coin. The current price of gold is about $925 per troy ounce, and there are 12 troy ounces in a pound. That means each coin must weigh 1-1/4 pounds.
I'm a bit skeptical. Did the US ever mint a coin that big?
“Shame on that bank teller.”
Why? Some crackhead comes in with stolen coins, the teller gives face value, then turns the coins over to management to locate the rightful owner. I say bravo bank teller.
Agreed.
Those game balls and autographs are going to my sons when they are old enough..
He went to talk with the elderly owner of the posters, found out that her Father had brought them home from his job at the local Post Office when new ones arrived. They had been sitting in a drawer for 60 years.
My husband explained to her that they were quite valuable (these were really great posters $200-300 each), and offered to give her a more suitable price. She was fascinated to find out that they were collectible...but she insisted on selling them to him for the original $5. Lucky day!
The price per troy ounce for gold is not the way gold coins are valued. The coin itself has value way beyond the price of the contents.
Occationally, I have happened onto a cashier puzzling over a bill that just doesn't seem right. I quickly take a glance and then offer to exchange the "funny money" with an equivalent quantity of normal bills. The cashier is happy to be rid of the suspect bill and I am happy to have acquired another silver certificate at face value.
Uh... guys...
This was a real world exchange of goods and services. That was likely the best deal the bank would give her, but ethically they can’t do that, not given the value of the coin in Dollars. 20 dollar gold pieces a coin once worth 20 dollars? Is worth what, 1000$ each? What was once worth 20 Dollars is worth 1000$ today... If this begins to happen on a regular basis.... that’s something else altogether.
“If the woman is that stupid she deserves to be taken.”
There’s so much wrong with that statement I don’t know where to begin.
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Yes she was a fool. I can’t say that she got ripped off. Banks deal in face value. She got the $280 face value.
The other qualities that make these coins more valuable, are not in the operating charter of banks in a retail sense.
What was the teller supposed to do. Get a spot quote for those coins on that day?
The woman who parted with them for the 280 bucks should have taken them to a coin dealer.
Consider that a coin dealer is going to want ID in order to pay the full value. The woman would have to pay tax on the full value if she couldn’t show a purchase price document.
That assumes that these coins weren’t stolen to begin with.
Take your time.
O.o
...a mystery that began March 16 when an unknown woman walked into a local Zions Bank branch in the St. George area and handed over 14 of the rare $20 gold Double Eagle coins in exchange for $280.They're rare because they were withdrawn from circulation. I wish gramps had held on to the ones he'd saved, instead of turning them in according to FDR's demand.
That one reminds me of the guy who tried to spend a $2 bill at a Taco Bell; clerk didn’t know they existed and called mallcop security.
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