Bar owner returns coins he received by mistake

[madfranks]

Vivian Ho, Chronicle Staff Writer
Saturday, June 25, 2011

130

Paul Marino thought he was opening boxes of poker chips for his North Beach bar when he tore open the battered, sticker-laden packages Friday morning.
He thought it odd when he saw green plastic cases from a company called United States Mint. He thought it even odder when he found 15,000 silver coins, about three times the circumference of a quarter and four times as thick, stacked in plastic-lidded tubes.
At first, he was confused. And then he saw the invoice from American Precious Metals Exchange, which informed him that he had in his possession more than $82,000 in commemorative silver coins.
"Oh, my god," he said, recalling his reaction.
Marino, 44, had picked up the three packages at the UPS customer center on San Bruno Avenue two days earlier, thinking he was getting 4,000 chips that he uses as free-drink vouchers during happy hour at his bar, Columbus Cafe on Green Street.
It wasn't even a possibility in his mind that he had received the wrong packages - he had shown the clerk his driver's license.
Luckily for the person who was supposed to receive the packages, it was Marino who picked them up. Friday afternoon, he returned the boxes to UPS.
"The bottom line is, I live by karma," Marino said. "That's the way I was raised, that's the way I run my business here. Things always come around, and I got to do the right thing."
"I remember these packages," clerk Dan Lau said. "I know what they are."
Elizabeth Rasberry, a UPS spokeswoman, said it is company policy that clerks compare labels to customers' IDs before releasing packages.
"That shouldn't happen," she said, when told a clerk had checked Marino's ID and still handed him the wrong packages. Had Marino not returned the packages, the rightful recipient would have had to file a claim for the $82,000 worth of coins, Rasberry said.
After waiting 45 minutes, Marino got his poker chips.
Friday afternoon, the lights were off but the music was on in the almost-empty Columbus Cafe. Located just off busy Columbus Avenue, the bar has no difficulty drawing business. But it needs new windows, Marino said. It still carries some old debts. It could use a few more flat screens - all things $82,000 could have easily taken care of.
'Trust me, I thought about it. For one minute," Marino chuckled. "But it's not my money. People today walk around with whatever they can get away with, but if everyone was honest, we'd be living in a better world."

[madfranks]

The math is messed up here. 15,000 SAEs with a bill of $82,000? That's $5.46 per coin! Based on the photo, it looks like he has three monster boxes, which would be 1500 coins, not 15,000. That makes it $54.66 per coin, which is high, but makes more sense. Maybe the dude bought them right as silver was reaching for $50 and now regrets his decision.

[EE_]

The math is messed up here. 15,000 SAEs with a bill of $82,000? That's $5.46 per coin! Based on the photo, it looks like he has three monster boxes, which would be 1500 coins, not 15,000. That makes it $54.66 per coin, which is high, but makes more sense. Maybe the dude bought them right as silver was reaching for $50 and now regrets his decision.

It shows Vivian Ho, Chronicle Staff Writer, is clueless about precious metals. She hasn't a clue what she's writing about.
Second, APMEX has some of the highest prices for products and the exorbitant shipping prices probably bumped up the total price. How do they stay in business?

[Ponce]

Like the story that I wrote a while back......I bought 2,000 of silver rounds and they came in those plastic 20 per containers, when I got home I noticed that one was kind of yellow and when I opened it I found 20 gold coins.......I took them back and they gave me 100 oz of silver rounds....this is the same place where I sold my silver in 1980 for almost 3/4 mill.

[Twisted Titan]

Im glad he did the right thing......as he would have certainley gone to jail if he kept them....that a serious investigation by the postal coppers.....not to mention if the rightful owner found him first

[MNeagle]

You mean the guy didn't even check the address label himself? Just ripped into them?

Sure glad he could wait long enough for a reporter to show up too...

[gunDriller]

what was the bar owner guy thinking when he picked up the boxes ?

3 monster boxes, 1500 ounces - that's HEAVY. 105 pounds+.

heaviest poker chips around.

oh well, maybe he didn't want to open them at the store.

[EE_]

I think Paul Marino seriously thought about keeping them until he realized he would go to jail if caught.

He was playing dumb not calling them silver eagles...who doesn't know what a silver eagle is?

Playing dumb here:

He thought it even odder when he found 15,000 silver coins, about three times the circumference of a quarter and four times as thick, stacked in plastic-lidded tubes

And why did he take the green caps off all the tubes?

[JJ.G0ldD0t]

WWMMD


What would MTnMan do?

:D

[Ponce]

JJ? anything but to take a boat ride with them.......

[madfranks]

I think Paul Marino seriously thought about keeping them until he realized he would go to jail if caught.

He was playing dumb not calling them silver eagles...who doesn't know what a silver eagle is?

Playing dumb here:


And why did he take the green caps off all the tubes?

The vast majority of people in America don't know what a silver eagle is. If you don't believe me, show one to your grocery store clerk or bank teller and ask them if they know what this is, and watch their confused faces as they try to recognize what it is you just handed them. And the reporter is just as clueless calling them "commemorative pieces"; I've never heard of an SAE referred to as a commemorative coin.

[Dogman]

The vast majority of people in America don't know what a silver eagle is. If you don't believe me, show one to your grocery store clerk or bank teller and ask them if they know what this is, and watch their confused faces as they try to recognize what it is you just handed them. And the reporter is just as clueless calling them "commemorative pieces"; I've never heard of an SAE referred to as a commemorative coin.

Have done it, most of the time they think it is a silver dollar. As time goes on more and more people have never seen one before.

[EE_]

The vast majority of people in America don't know what a silver eagle is. If you don't believe me, show one to your grocery store clerk or bank teller and ask them if they know what this is, and watch their confused faces as they try to recognize what it is you just handed them. And the reporter is just as clueless calling them "commemorative pieces"; I've never heard of an SAE referred to as a commemorative coin.

So it's safe to say, we are nowhere near bubble territory in the silver market.
Let the buying continue!

[willie pete]

It shows Vivian Ho, Chronicle Staff Writer, is clueless about precious metals. She hasn't a clue what she's writing about.
Second, APMEX has some of the highest prices for products and the exorbitant shipping prices probably bumped up the total price. How do they stay in business?



APMEX is Retail, I have actually gotten a couple bezels from them cheaper than anywhere else, I shopped a couple local Jewelry stores,.....what a freakin' joke....lol for a 1/10th Oz GAE 14k bezel?...these shysters wanted $200....LMAO, the damn thing probably only weighed about 2 grams, IF that....so I tried APMEX, and I was REALLY surprised, got one from them for about $85-$90 shipped....oh and the shipping on a Load like in this story would've been FREE.....anything order > $25k from APMEX Ships FREE...

[EE_]

APMEX is Retail, I have actually gotten a couple bezels from them cheaper than anywhere else, I shopped a couple local Jewelry stores,.....what a freakin' joke....lol for a 1/10th Oz GAE 14k bezel?...these shysters wanted $200....LMAO, the damn thing probably only weighed about 2 grams, IF that....so I tried APMEX, and I was REALLY surprised, got one from them for about $85-$90 shipped....oh and the shipping on a Load like in this story would've been FREE.....anything order > $25k from APMEX Ships FREE...

Check CNI next time. Lower prices and $2,000 ships free. http://golddealer.com/bullionpage.html

[mick silver]

it would of been very hard to turn those boxes back in . i could dig a new home for them

[BrewTech]

And then he saw the invoice from American Precious Metals Exchange, which informed him that he had in his possession more than $82,000 in commemorative silver coins.

Commemorative coins? I didn't know SAEs were commemorative, unless they commemorate the death of real money...

Oh, and way to start a sentence with "And". Nice. ::)

edit: looks like it's already been pointed out...:-*

[Carbon]

I think Paul Marino seriously thought about keeping them until he realized he would go to jail if caught.

He was playing dumb not calling them silver eagles...who doesn't know what a silver eagle is?

Playing dumb here:


And why did he take the green caps off all the tubes?

So much for the premium of mint sealed boxes, eh? This fool just cost the buyer a nice bit of change by cracking those boxes. The bar got a windfall of free publicity from this... the stacker got fucked.

[steyr_m]

It shows Vivian Ho, Chronicle Staff Writer, is clueless about precious metals. She hasn't a clue what she's writing about.
Second, APMEX has some of the highest prices for products and the exorbitant shipping prices probably bumped up the total price. How do they stay in business?

She isn't alone. I say to a few people that I buy PM's; and they don't know anything about it or where to buy them....