US Mint Employee Caught Stealing Gold!

[WoodenJefferson]

Well, that is in back in 1905 he did.

 

November 23, 1905

 

Mint employee George Edward Adams, is arrested and charged with stealing gold from deposits while they are awaiting assay.

He is indicted, pleads guilty to two counts totaling $45,000 in stolen gold, and is sentenced to 10 years hard labor.

 

[DC Dawg]

But there is no proof how Israel Switt "obtained" his hoard of 1933 Saint-Gaudens double eagles. There are accepted theories, but we don't know. However, all of these stories make for interesting reading!

 

Scott

[WoodenJefferson]

Nobody knew that those $20 Double-Eagles were missing until they turned up in a safety deposit box.

 

According to the newspaper article, the gold miners brought it to the attention of the Seattle Assay office branch and the Secret Service was notified. Cool.

 

Historical link to Seattle Assay Office

[bartlesvilleok]

125k seems like a lot in 1905. What was the price of gold per ounce back then

[WoodenJefferson]

Historical gold prices

 

According to this chart $18.92

 

Edit: the two counts for a total of $45,000 is from the US Mint archives, the $125,000 is claimed by the newspaper. The Assay Office and the SF Mint could probably only account for the lower amount.

 

 

[James_OldeTowne]

Seattle mint??

[johnny9434]

i wonder if it was an assay office james?

[TomB]

This event is also written about in Recollections of a Mint Director by Frank A. Leach and published by Bowers.

[bartlesvilleok]

4756 ounces < That's a lot of freaking gold.

 

At today's prices that is $5,475,158

 

The above figures are only for the 90k amount not the 125k.

 

That is well over 300 lbs. I wonder how he got it all out of the mint with out anyway seeing him. Maybe the missing 35k was an unknown partner.

[Conder101]

Nobody knew that those $20 Double-Eagles were missing until they turned up in a safety deposit box.

Not only that, but on more than one occaision before they turned up the government stated that ALL of the 1933 double eagles had been accounted for. Not sure how you can be accused of stealing something that the owner says isn't missing.

[RWB]

There are detailed files on this (and other theft cases) in the US Mint archives.