Gray admitted he understated his tax liability by approximately $801,651. Gray admitted that between 20, he failed to report the sale of the coins on his income tax return. Gray admitted the $2.4 million from the coin distributor was deposited into his Police and Fire Federal Credit Union account. The coin distributor sent all checks for payment by FedEx to Gray’s residence in North Wildwood. Gray admitted to receiving approximately $2.3 million for the error coins. Post Office in Rio Grande, N.J., or the FedEx location in Egg Harbor Township, N.J. He admitted he then smuggled the error coins out of the Mint and eventually shipped them to a coin distributor in California from the U.S. Gray said he took Presidential $1 coins with the missing edge lettering, knowing they would be considered more valuable to coin collectors because they were considered “mint errors.” The minting of the coins was a two-step process, with the initial stamping imprinting the obverse (heads) and reverse (tails) images and a second stamping imprinting the edge lettering. Starting in 2007, Gray regularly took several small bags to the coining area, where Presidential $1 coins were made. Mint in Philadelphia as a Mint police officer. Gray admitted that between June 1996 and January 2011 he was employed by the U.S. Judge Hillman imposed the sentence today in Camden federal court.Īccording to documents filed in this case and statements made in court: Hillman to two counts of an Information charging him with theft of government property and tax evasion. Mail and FedEx and failed to pay taxes on the proceeds of the sales, previously pleaded guilty before U.S. William Gray, 65, who sent the coins to the coin dealer through the U.S. Mint and selling them to a coin distributor in California, U.S. Mint was sentenced today to 36 months in prison for stealing $2.4 million worth of error coins from the U.S. – A North Wildwood, N.J., man who worked as a police officer at the U.S.
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