A group of coin dealers working with law enforcement recovered a stolen gold coin and helped lead to the arrest of two suspects during the recent Central States Numismatic Society convention near Chicago.
The incident, detailed in information provided by the Central States Numismatic Society, involved a 1709 Lima eight escudos from the famed 1715 Treasure Fleet, which had reportedly been missing prior to being offered for sale on the bourse floor April 24. The recovery followed coordinated efforts by several dealers and a specialist collector, who identified the piece after it was presented at a suspiciously low price.
According to Tony Gryckiewicz of Cabbage Coins in Lancaster, Pa., the two individuals approached his table seeking to sell the coin, claiming it had been found among a relative’s belongings. “It is an advanced collector piece, and I asked them where they obtained it. I found their explanation very odd,” Gryckiewicz said.
Cooperation by rare coin dealers at the 2026 Central States Numismatic Society convention in Schaumburg, Illinois led to the recovery of a stolen $40,000 gold coin and the arrests of two men allegedly trying to sell it at the show. (Photo courtesy of Mitch Ernst.)
When the sellers later raised their asking price by $10,000, Gryckiewicz grew more suspicious and began researching the coin. With assistance from collector David Huang, a specialist in 1715 Fleet gold cobs, he confirmed the piece was a rarer date and located a matching example sold at auction in November 2025 for $40,500. Gryckiewicz then alerted auctioneer Dan Sedwick, who contacted the last known owner. The owner indicated the coin had been missing.
One of the two men who allegedly attempted to sell a rare 1715 Treasure Fleet gold coin is pictured being handcuffed by a Schaumburg, Illinois Police Officer at the 2026 Central States Numismatic Society convention on April 24, 2026. (Photo courtesy of Tony Gryckiewicz .)
Dealers subsequently located the suspects on the bourse floor. Gryckiewicz engaged them and brought them back to his table, where he delayed the transaction while alerting show security. For approximately 20 minutes, he stalled the suspects by discussing payment options and making what appeared to be a call to a potential buyer while security personnel coordinated a response.
The Central States Numismatic Society operates a “Dealer Watch” program aimed at promoting vigilance on the bourse floor, encouraging participants to report suspicious activity. In this case, communication between dealers, show security and law enforcement proved critical.
CSNS president Mitch Ernst said there was a large sign on the bourse floor as part of the organization’s Dealer Watch security program advising participants to remain alert. “See Something, Say Something. Thank you for helping to keep our show safe,” the sign read.
Police were notified after the owner filed a theft report. Officers approached the suspects, questioned them about the coin and made the arrests. Other dealers assisted by monitoring the suspects and helping prevent them from leaving the area before police arrived.
The reverse of the missing 1709 Lima 8 Escudos 1715 Treasure Fleet gold coin recovered at the 2026 Central States Numismatic Society convention. (Photo courtesy of Tony Gryckiewicz .)
Ernst said the incident demonstrated the importance of cooperation within the numismatic community. “Dealers working together with the support of local law enforcement helped keep our show and the hobby community safe,” he said.
Doug Davis, founder of the Numismatic Crime Information Center, said the response by dealers, security and police was critical to the outcome.
“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. 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,” Davis said.
The coin, originally recovered from the 1715 Treasure Fleet wreck off the Florida coast, had been part of the McGregor Collection before its 2025 auction sale.