Theft of $2.4 million of plain edge error Presidential dollars from the Philadelphia Mint could result in a 10-year prison sentence and a $250,000 fine for a former Philadelphia Mint police officer.
William Gray, 64, of North Wildwood, N.J., pleaded guilty to one count of theft of government property and one count of tax evasion on Sept. 8 in federal court before U.S. District Judge Noel L. Hillman in Camden, N.J.
Gray was a Mint policeman from 1996 until January 2011.
Sentencing is scheduled for Dec. 20.
The Presidential dollar coin errors that Gray admitted selling to an unidentified buyer in California were missing the edge lettering that on 2007 and 2008 coins stated the date, mintmark and “In God We Trust” and “E Pluribus Unum” mottoes. On coins dated 2009 and later, the edge lettering no longer includes “In God We Trust,” because it has been moved to the obverse.
Gray is out on $50,000 bail until sentencing.