A former police officer for the U.S. Mint in Philadelphia has admitted to stealing $2.4 million worth of "error" coins and selling them to a coin distributor in California.
U.S. Attorney Paul J. Fishman in New Jersey said 64-year-old William Gray pleaded guilty on Thursday to charges of theft of government property and tax evasion.
Gray, of North Wildwood, N.J., had worked at the U.S. Mint since 1996. In a federal court in Camden, N.J., he admitted taking $1 presidential coins that were missing edge lettering, knowing they would be considered more valuable to coin collectors because they were considered "mint errors." He mailed them from New Jersey.
He was freed on $50,000 bail. He is scheduled to be sentenced on Dec. 20.