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Police officer admits theft at U.S. Mint

  |   Sept. 9, 2011 at 1:36 PM
| License Photo
PHILADELPHIA, Sept. 9 (UPI) -- A former federal police officer assigned to the U.S. Mint in Philadelphia has admitted stealing $2.4 million so-called error coins and selling them.

William Gray, 64, of North Wildwood, N.J., pleaded guilty to theft of government property and income tax evasion, WCAU-TV, Philadelphia, reported Friday.

In federal court, Gray admitted to taking $1 presidential coins, all missing lettering on their edges, and selling them to a California coin dealer knowing they were more valuable to collectors because they were "mint errors."

Gray also admitted he did not pay taxes on the money he got for the coins, The Philadelphia Inquirer reported.

Gray, who worked at the mint from 1996 until January, is free on $50,000 bail pending a sentencing hearing set for Dec. 20.

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