April 2012

Question of the Month???  

Ask Joe  



Q Dear Joe,     


I was asked a question by one of my peers and I would like to get your thoughts on
gold coinit. Our Vice Unit recently seized a large amount gold coins as part of a drug arrest. My question to you is, how would you handle the gold coins? Would the coins be considered currency, which our county wants turned over to them to go into the general fund, or as precious metal, which would be kept in property held as evidence?

Generally, in our county, currency is turned over to the general fund. Your thoughts, opinions, policy, etc. would be greatly
appreciated.

Sincerely,

 

What's It Worth  

 

A Dear What's It Worth?

 

My answer is predicated upon several scandals and or mistakes that I have seen in my travels.  If a silver dollar is sent to Finance or whoever is responsible for money transactions, could they treat it as a dollar (face value) and pass it through the system and get a dollar in value into the general fund? Could the silver dollars have been a collectors Item and worth substantially more? Could the silver content be worth more that the face value? Could someone in the process swap a dollar for the silver dollar and make a profit ot the department's expense?

 

Keep in mind, most officers and evidence custodians are not experts with rare coins. My advice for any coins that appear to have a collectors value or the coins gold or silver content may be greater than the face value in the property record and then somehow treat it as a collectable/precious metal. When the case is adjudicated, I would suggest that it be auctioned off using a company such as propertyroom.com.

 

Hope that helps! 

Joe

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