Pawn Stars Melts Down $50,000 Worth Of Stolen Gold

Pawn shops purchase gold from customers all the time. It is not uncommon for someone to bring in thousands of dollars worth of gold to exchange for money. It is actually a daily occurrence at most shops, especially at the Gold and Silver Pawn Shop located on the outskirts of Las Vegas, Nevada.

Gold and Silver is a family business, run by three generations of Harrison men; grandfather Richard, aka “The Old Man,” his son Rick, and his grandson Corey. Oh, and we can’t forget Chumlee, the brunt of most of the jokes in the shop.

Their store is featured on the History Channel’s Pawn Stars, where historical items, among other items, are brought into the store. Their main concern is finding out if there is any historical significance to the item, and what it is worth.

Again, gold is very common for Gold and Silver, and the Harrison men never thought anything of it when a woman brought in approximately $12,400 worth of gold to sell.

Now, David Walters is claiming that his niece Jennifer Beckman stole the gold from his elaborate coin collection. He filed a complaint with the Clark County Justice Court on November 27, 2013, stating that she had stolen $50,000 worth of gold from him.

Gold and Silver was notified several days later, on December 5, 2013, but by that time, the gold had already been melted down. Police said that Beckham had been stealing the gold gradually over time, and then turned around and sold it, receiving $12,375 from the shop.

According to a Nevada law, pawn shops must hold pawned items for 30 to 90 days in case the person pawning the items wants to purchase it back, or police need to report it stolen.

However, the law does not apply to gold and silver, therefore making it okay for the Harrison men to have already melted it. Not all gold, that is brought into the shop, is melted. If the gold is able to be graded by a credible source, then they will keep it in its current state.

Gold and Silver’s spokeswoman Laura Herlovich issued a statement regarding the incident, after Walters filed the complaint. “In a fast-moving shop, particularly our shop, because of its fame, you move things quickly. We go through them,” Herlovich said.

“If the grader is not someone we trust, the cases are cracked open and the coins are sent out to be melted down. That was the case here. I don’t know for sure, but I believe a majority were melted down. They weren’t worth what he [Walters] thought they were worth.”

[Image via Historychannel.com]