Man accused of stealing hundreds of thousands of dollars worth of rare coins

Man accused of stealing hundreds of thousands of dollars worth of rare coins
Brandon Raley

SHELBY COUNTY, TN (WMC) - A Shelby County man is accused of stealing nearly half a million dollars worth of rare coins from his girlfriend’s grandmother.

Brandon Raley, 22, is charged with property theft of more than $250,000.

According to an affidavit, the victim said someone stole about 250 Krugerrand gold coins worth about $360,000, $100,000 in U.S. currency, four books of Kennedy half dollars worth about $50, 10 sleeves of 50 rare pennies each worth about $50 and a purple Crown Royal bag of various coins, including nickels, dimes, pesos and gold dollars.

Deputies say the victim suspected her granddaughter’s boyfriend, 22-year-old Brandon Raley, found the safe key and stole the coins. They searched Raley’s name in Leads Online pawn database and found where he pawned about 156 Krugerrands between December 2018 and March 2019.

Detectives caught up with Raley at his home. According to the affidavit, he admitted to pawning the coins but said he did it at the request of a homeless friend named “Erin" who claimed the coins were left to him by his grandfather.

Deputies say Raley’s story was inconsistent and he never could provide a last name or phone number for “Erin.” When they questioned him about his story, the affidavit says Raley became defensive, he declined to give consent to search his phone and stopped cooperating.

Raley was booked into Shelby County Jail on $50,000 bond.

Copyright 2019 WMC. All rights reserved.