Money isn’t necessarily safe in the hands of those who mint it. A U.S. Mint employee pleaded guilty to theft of government property and tax evasion, admitting he swiped $2.4 million in coins with errors and sold them to a California coin distributor. The $1 presidential coins he admitted to stealing were missing lettering, and the convict knew he could get a premium for them because the errors gave them more value in the coin collecting market.
According to the AP, the man was set free on $50,000 bail and will face sentencing Dec. 20.
The presidential coins are copper with brass cladding, and have been printed since 2007, emblazoned with the image of dead presidents. The Mint prints an image of one president for three months before moving on to the next one in chronological order.
US Mint officer admits taking $2.4M worth of coins [AP via Forbes]