Coin Collector USA’s Headquarters
Chicago, Illinois
September 2012
Lawrence Sheffield III, known to everyone as Larry, could be described as professionally lethargic. In ten short years a once exhilarating career now put him to sleep. He didn’t bother keeping his boredom to himself. Why hide it? Fellow journalists whispered about him in clumpy huddles at big events, waging bets on everything from his health to his love life. Larry politely and perpetually declined their inquiries, offers, and advice. He just wanted to be left alone. That was probably for the best as Larry’s gloominess contaminated everyone who came within a ten-foot radius.
Larry hadn’t always been this way. Originally, working for Coin Collector USA magazine felt like a dream come true. As a lifelong coin collector and a gifted writer, fate dealt him a beautiful hand by giving him a career that combined both passions.
His interest in coins came honestly. Of the three men in his family to carry the moniker Lawrence Sheffield, his career was the third to interact in some way with numismatics; the study of coins and currency. His grandfather, the original Lawrence Sheffield, took on an expert status in Greek and Roman coins following World War II, with his historical research maintained by the American Numismatic Society in New York City. Then came Larry’s father, Lawrence II, who carried the torch into the next generation as a professor of numismatics at Princeton University. He eventually became curator for their coin collection, a high honor given the rarity of academic coin collections in the United States.
Larry’s interest didn’t fall into the academic vein of his predecessors. He wrote about, as he put it, the “edgy side of coins”. He took coin journalism to a more exciting place by shining a light on dealing, auctions, and big-ticket items. Most provocative of all, he recounted the stories of famous thefts and unusual encounters involving coins.
His favorite writing assignment thus far in his career involved a major coin discovery made by a husband and wife while walking their dog on their sprawling Northern California property. The story began when something shiny caught the wife’s eye in the grass as her pooch did his business. It ended with the dream of a lifetime, ten million dollars’ worth of uncirculated, mint condition, solid gold coins. Larry had been granted permission to fly out to interview the couple and examine the coins for himself. A good year of writing came out of that find. It inspired several award-winning articles in which Larry postulated about how the coins landed on that property in the first place. To him, the most obvious answer was a robbery at the San Francisco Mint that occurred back in 1898. It was allegedly committed by one of the Mint ’s own employees. A routine audit by the San Francisco Mint at the time revealed that twenty-eight thousand dollars’ worth of Double Eagles were missing from the hoard within the compound. The finger pointed directly at a press operator, who ultimately did nine years of hard time for the crime. Oddly enough, the whereabouts of the coins remained a mystery. As usual, the United States Mint had a keen interest in keeping in that way. When Larry tried to get information about it from a Mint representative, she downplayed what he considered to be ridiculously obvious links between the modern find and the century-old heist. According to the representative, Larry’s interest in the story was typical journalistic sensationalism. His response: “No, it’s called connecting the dots!”
Regardless of the Mint’s stance, the story stoked Larry’s creative fires for a long time. How he longed for another great assignment! A buried treasure discovered by a worthy individual who put it to good use, or a minting event that exposed some dark secret about the Department of Treasury. Something with substance. Alas, intriguing stories in the world of coins are in short supply. Instead, Larry suffered through spewing out mindless articles about exhibits, coin dealing, collecting. Bleh.
Sure, being employed by Coin Collector USA had its perks, but hyping up some upcoming coin show in some big city was a massive waste of Larry’s talent, his vast intellect, his poetic grandeur! He seriously considered writing a novel on his own time just to keep life interesting, always putting it aside as a pipe dream and nothing more.
Then out of the blue he happened upon a stroke of luck – a tip with the potential to resuscitate his withering career. Carl Baggley, Larry’s former college roommate at Princeton was the unlikely source. Back in 2002, Carl muscled his way into being the best scrum-half ever to grace the field for Princeton’s rugby club. A decade later, Carl once again donned his number nine jersey on the day of his induction into their alma mater’s Rugby Hall of Fame. The small ceremony took place in a restaurant in Princeton’s Palmer Square just last month. In attendance were a small team of devotees to the rugby club, mostly former members and their families. As the evening wore on, Larry and Carl reconnected over drinks and memories. Two scotches in, Larry opened up to his old roommate about his occupational ambivalence.
Who knew that one month later, that venting session of Larry’s would unexpectedly pay off? He’d never have guessed that alcohol and an old college buddy would provide the antidote he needed. The phone rang just as Larry threw together beef and macaroni for dinner. Putting down the tomatoes, Larry picked up the phone to hear Carl speed-talking.
“Lar! Glad you’re there. Good to hear your voice buddy. I got such a story for you! This case hit my desk a few hours ago and I instantly thought, ‘Jesus, this has Sheffield’s name all over it!’ I don’t have all the details yet, but I had to at least call.”
“Whoa dude!” Larry interrupted. “You gotta cut back on the caffeine! What case?”
For eight years, Carl Baggley plugged away for the U.S. Attorney’s Office in Newark, New Jersey. Initially an admin for the public affairs department, he eventually made his way past the bar exam and traded in the admin position for his dream job. Now Carl provides direction to various federal agencies like the FBI, the IRS, and the DEA, giving them the expert legal counsel they need during criminal investigations. The job kept Carl excited, and he called Larry to share the most interesting cases. At this moment on the phone his voice rose to a near fever pitch.
Carl laughed apologetically and began again. “An arrest was just made involving a retired Philadelphia police officer who used to work at the U.S. Mint!”
Larry’s lungs involuntarily drew in a deep gasp of air. “Whoa. What happened?”
“Tax evasion. That’s what’s on the initial warrant anyway. I don’t know all the facts yet, but it looks like a recent tax return didn’t account for all the proceeds he made selling stolen coins.”
“Wait, wait, you mean he stole them?”
“I can’t say for sure yet, but I’ll be involved with the investigation. All I can tell you so far is that it appears he sold over six thousand of those First Ladies coins.”
“Holy shit!” Larry slid the pack of ground beef back in the fridge and turned off the burner under a half-cooked pot of elbow macaroni. Dinner would have to wait. “Okay Carl, you’ve got my attention.”
“It gets even better. The coins weren’t even finished. They hadn’t gone through the process that engraves the edge of the coin.”
“The edge inscription! Oh my God, the dude stole half-baked coins!” Larry jumped up, bouncing around like a five-year old on Christmas Eve. “This is huge! The cop knew exactly what he was doing. Coin errors rake in a fortune!”
“Yes, they do. Wanna take a guess how much of a fortune he raked in?” Carl challenged.
Larry zoned out as he tried to recall the bits and pieces he’d heard around the office about the First Ladies Coin Program being under government review. Who’d been talking about it? Oh yes, Travis. Travis Simmons, a lanky fellow journalist at the magazine had gone on and on about it to the receptionist at the office. Larry remembered him leaning over her desk in a clear effort to impress her. At the time, Larry took more notice of how she shifted uncomfortably in her swivel chair than anything else. The information didn’t concern Larry then, but he certainly planned to follow up now.
“Yo Lar, you still there?”
“Yeah yeah, I’m here.” Larry slid into the solitary chair at his kitchen table, cell phone still pressed against his ear. A typical journalist, he’d already scribbled half a page of notes on his legal pad as the two talked. He finally got back to Carl’s challenge and offered his best guess.
“I’ll say some dealer offered him fifty per coin. You said he stole six thousand of them?”
“Yep, a little over six thousand.”
Quickly drawing the calculation out on his pad, he circled the answer. “That’s about four hundred grand.”
“It would have been four hundred grand if he hadn’t hit the jackpot of dealers. Some guy on the west coast paid him two hundred bucks a piece. He raked in over a million two!”
“Jesus! One million two hundred thousand?
“Crazy isn’t it? How would you like to make a hundred and ninety-nine-dollar return on your one-dollar investment? Oh wait. He didn’t invest, he stole! Or at least that’s what it looks like.”
“You said the warrant is for tax evasion. So you’re telling me the guy managed to hack security at the most secure building in the State of Pennsylvania but has a moron for an accountant?!”
Carl laughed. “Sounds like a good possibility. Hey, hang on a sec.” His voice trailed off, and after a few seconds of muffled sounds he returned to the line. “Buddy, I gotta run. The kids are up way past bedtime and my wife’s giving me the evil eye. But just so you know, the cop’s next hearing is scheduled for Thursday. I’ll be there, and I’ll fill you in on every detail, cool?”
“Fantastic! Wow man, how can I thank you?”
“I was hoping you’d ask! You can start by telling your Cubs to lay off my Phils. This series is killing us.”
“Yeah sure, I’ll get right on it. Hey, don’t forget to fill me in on that hearing. I’ll chase you if I don’t hear back.”
The next morning Larry moved with an extraordinary bounce in his step when he entered Coin Collector USA’s office building. Everyone noticed. Including Phoebe, the attractive receptionist who Travis worked so hard to impress. She’d found Larry fascinating until his attitude went south a couple years ago. The twinkle in his eye when he greeted her had Phoebe sitting a bit higher in her swivel chair.
“Larry?” she squeaked out quickly before his atypical demeanor had time to fade. “You look downright elated!”
“Who, me?” It felt good to smile again, and to be smiled at. “Yeah, I guess you could say it’s going to be a productive day!” He paused and placed his hand on top of her computer monitor. “You know, I’d really like to treat you to lunch at Jake’s one of these days.”
“Really?” Caught off guard, Phoebe struggled to conceal her erupting smile. “Why, what’s going on?” As she looked down away from his eyes, he whizzed past her leaving the words of her question suspended in air.
A handful of journalists lingered in the main corridor near the cafeteria. Those who knew him best did a double take, with a bit of harmless taunting flying from the boldest. “Yo Lar! Tone it down.” and “Looks like someone got lucky last night!” He smiled and nodded, engaging them just long enough to get his coffee. Then he abandoned the inquiring minds to gossip among themselves and entered the solitude of his office. Opportunity knocked, and as any good journalist knows you never leave her waiting.
He yanked the cord on the mini blinds, sending a cloud of dust throughout the tight room. As the computer booted, he retrieved the legal pad from his backpack and held it gingerly as if it were a sacred manuscript. Page after page of notes, many he’d scribbled long after Carl ran off to tend to the kids. The little bit his friend shared so far reignited Larry’s fire.
He scrolled through Coin Collector USA’s Intranet looking for the ‘Team of Journalists’ webpage. It didn’t take long for him to find contact info for Travis Simmons. Before dialing, Larry practiced a nonchalant inquiry. No need to raise dust at this point, he simply wanted to learn a little more about the controversy surrounding the one dollar First Ladies Program.
“You’ve reached the voicemail of Travis Simmons. Please leave a message.” Larry hung up and decided to email him instead. Just a quick note asking Travis to touch base for a brief, non-urgent conversation at his convenience. Then Larry dug back into and expanded the notes from the night before. He knew from experience that keeping busy cured nerves. Within the hour Travis responded and let Larry know it would be a couple days. He was out of the office until Thursday. That wouldn’t be a problem, because Larry had plenty to keep him busy until then. Call it intuition, but Larry just knew this was the story he’d been waiting for. The hearing and Travis’s information would make Thursday well worth waiting for.
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