Two suspects try to sell missing 1715 Treasure Fleet Gold Coin
A stolen 1715 Treasure Fleet gold coin has been recovered after five dealers and a specialist collector worked together at the Central States Numismatic Society convention near Chicago.
The incident took place on April 24, 2026, at the CSNS convention in Schaumburg, Illinois. According to CSNS, two suspects allegedly offered the rare gold coin for sale on the bourse floor. Their actions quickly raised concerns among dealers.
As a result, Schaumburg police arrested the two suspects. The coin’s owner also recovered the missing piece.
Rare 1709 Lima Eight Escudos Recovered
(Photo courtesy of Tony Gryckiewicz)
The recovered coin is a 1709 Lima, Peru eight escudos from the famous 1715 Treasure Fleet.
The 1715 Treasure Fleet sank on July 31, 1715, when a hurricane struck 11 Spanish galleons off the coast of Florida. The ships were sailing from the New World back to Spain. They carried large quantities of silver and gold coins and bars.
This recovered gold coin came from that historic treasure. Later, it carried a pedigree to the McGregor Collection.
Sedwick & Associates of Winter Park, Florida, sold the coin at auction in November 2025. The coin realized $40,500, including the buyer’s fee.
CSNS Praises Dealer Awareness
CSNS President Mitch Ernst praised the fast response by dealers, show security, and local police.
“Alleged suspects caught; coin recovered! Dealers working together with the support of local law enforcement helped keep our show and the hobby community safe,” Ernst said.
He also credited the result to awareness on the bourse floor.
“Because of dealer awareness and cooperation, and quick response by the Schaumburg, Illinois Police Department, a stolen $40,000 coin was identified and recovered, and two suspects were arrested. It was amazing to watch it all unfold,” Ernst said.
Suspicious Offer Raises Concerns
The chain of events began when the suspects approached dealer Tony Gryckiewicz of Cabbage Coins in Lancaster, Pennsylvania.
According to Gryckiewicz, the two suspects presented the gold coin at his table and offered it at a suspiciously low price.
“The two suspects presented the coin at my table for sale at a suspiciously low price,” Gryckiewicz said. “It is an advanced collector piece, and I asked them where they obtained it. They told me the coin was found among their grandmother’s items at her house. I found this very odd.”
At first, Gryckiewicz agreed to their asking price. However, the suspects then raised the price by $10,000.
“When I initially agreed to their price, they increased it by $10,000 and said they wanted to get the most possible,” Gryckiewicz said. “I was very irritated with this request, but in retrospect I’m happy that we didn’t come to a deal at that time.”
Research Identifies the Coin
After that, the suspects moved across the bourse floor and tried to shop the coin elsewhere. Gryckiewicz used the time to research the piece.
First, he contacted collector David Huang. Huang serves on the Advisory Board of the 1715 Fleet Society. He also specializes in 1715 Fleet gold cobs, including coins like the one Gryckiewicz had just seen.
Huang told Gryckiewicz that the 1709 date made the coin much more desirable and rare. He also encouraged him to research it further.
“I found the auction sale for the 1709 Lima 8 Escudos in November 2025 at Dan Sedwick’s auction site, and that’s when I saw it sold for $40,500,” Gryckiewicz said.
Next, Gryckiewicz went to Sedwick’s table. He told Sedwick that two people who did not appear to be collectors had just offered the coin for nearly half its auction price.
Sedwick then phoned the coin’s last known owner. That owner had won the coin in the November 2025 auction. The owner explained that the coin had been missing for some time.
Dealers Keep Suspects on the Bourse Floor
Gryckiewicz and dealer Noah Lehmann-Haupt of Rarity 7 in San Francisco then searched the bourse floor for the suspects and the coin.
They soon spotted the two men.
“We noticed the two guys, and Noah immediately went to notify security officials,” Gryckiewicz said. “I approached the sellers and asked if they were ready to make a deal. They agreed and followed me back to my table.”
Then Gryckiewicz stalled the suspects for about 20 minutes.
First, he pretended to call a prospective client who might want to buy the coin. In reality, he called Lehmann-Haupt, who was with members of the security team.
Then, Gryckiewicz continued to slow the transaction. He discussed cash, check, and trade options. He also made a video of the coin for the supposed client. In addition, he explained why he valued a proposed generic gold coin trade so high compared with gold spot prices.
Meanwhile, the actual owner spoke with Schaumburg police by phone and filed a theft report.
Once police completed that report, officers approached the suspects. They asked how the men obtained the coin. Then, police arrested the suspects and took a statement from Gryckiewicz.
Dealers Prevent Escape Before Arrests
Lehmann-Haupt praised Gryckiewicz’s actions and credited other dealers for helping secure the situation.
“Tony did a heroic job of stalling the two guys shopping the coin, and the Schaumburg police cuffed them and took them away,” Lehmann-Haupt said.
He also credited Dan Decker of Peak Rarities in Boynton Beach, Florida, and Nicolas Morabito of Nicolas Morabito Rare Coins in Philadelphia, Pennsylvania.
According to Lehmann-Haupt, Decker and Morabito helped prevent the suspects from running out an open door in the back before police made the arrests.
Dealer Watch Program Encouraged Action
Ernst said CSNS had placed a large sign on the bourse floor as part of the organization’s Dealer Watch security program.
The sign read: “See Something, Say Something. Thank you for helping to keep our show safe.”
That warning proved timely. In this case, alert dealers identified suspicious conduct, contacted the right people, and helped police recover a rare numismatic item.
Numismatic Crime Information Center Responds
Doug Davis, founder and president of the Numismatic Crime Information Center, also praised the outcome.
“I believe this is a perfect example of how dealers, CSNS show security, and Schaumburg police working together solved a crime that had not been reported earlier,” Davis said.
He added that dealers often play a major role in spotting suspicious activity.
“In many cases, dealers play a significant role in identifying suspicious circumstances, such as in this case, which results in arrests and the successful recovery of property,” Davis said.
Davis also said the dealer’s quick thinking made the difference.
“The quick actions by the dealer, stalling the suspects, his quick communication with the auction company, and immediate response by show security and Schaumburg police were the key to a successful arrest,” Davis said.
“I commend the dealers involved, CSNS show personnel, the show security, and Schaumburg police for a job well done. Bridging the gap between the numismatic community and law enforcement is the key to reducing numismatic crime,” he added.
More Information
- Additional information about the Central States Numismatic Society.
- Additional information about the Numismatic Crime Information Center.
