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Theft of 5 Cyprus Rare Coins

Date: 21 August 2014


Subject: Five (5) Cyprus rare coins have been stolen

1.  We would like to refer to the above mentioned subject in order to inform you that five (5) rare Cyprus coins and 40 other scarce world coins have been stolen during the shipment from Greece-Athens to PCGS located in Paris, between the dates 22nd – 24th of May 2014.

2.  Our company, «Cointime Ltd», bought the five (5) rare Cyprus coins from Baldwin’s auction 6/86 which was held on the 6th of May 2014 in London. («Ex. Arielle Collection» Lot 166, Lot 188 and Lot 218).

3.  The rare Cyprus coins are the following:

 a.  Cyprus ¼ Piastre 1880 of Queen Victoria. This coin looks like Proof but we believe that it would have been graded as MS65BN PL according the USA standards or Brown Uncirculated (Prooflike) according to the UK standards. The coin has a mirror surface and brown color both sides which makes it looks proof but we believe it is an early strike.

 b.  Cyprus ½ Piastre 1908 of King Edward VII. We believe that this coin would have been graded as MS63BN or MS64BN according to the USA standards or Brown Uncirculated according to the UK standards. This coin has some red luster on reverse and light brown color both sides. This is the weakly struck variety (King’s portrait on obverse and the line from ½ on reverse are weakly stuck).

 c.  Cyprus Proof set of 3 silver coins dated 1921 of King George V. The coins are 4 ½ Piastres, 9 Piastres and 18 Piastres all dated 1921. These coins have dark grey and blue patina and we believe that they would have been graded as follows: 18 Piastres PF64-65, 9 Piastres PF64-65 and 4 ½ Piastres PF63-64. The 4 ½ Piastres has a few light hairlines from an old cleaning which are under the deep grey and purple patina. All coins have a matching dark grey and blue toning except the 4 ½ Piastres which has also a light purple color mixed with grey. 

4. The above 5 coins as well as many other gold, silver, copper and nickel world coins, had been sent to PCGS Paris, via Fedex, through a Greek coin dealer located in Athens. Once the package was received and opened under a camera at PCGS Paris, it had been found that 45 coins as well as the 3 submission forms were missing from the package. After investigation by authorities in Athens and also by the members of staff at

PCGS in Paris, the coins had never been found. All suspicions seem to show that the coins were either stolen during the shipment or before the shipment in Athens. Unfortunately we are unable to solve this mystery but we believe that the rarity and the quality of these coins make them unique. We believe that it would be easy for us to identify them, even if these coins have been tampered with (altered color of different patina). It is very wired that they didn’t steel the gold coins included in the package which were more than 30.

5. The other stolen coins were 20 Gem Uncirculated Malaya & British Borneo 20 Cents 1961 of Queen Elizabeth II (MS65-MS67) belong to our company, which have been purchased from Ebay and 20 modern Greek coins from King Paul I and King Constantine II of which we have been informed that belong to other collectors/coin dealers from Greece.

6.  We would appreciate all Numismatic Associations, Numismatic Societies, Coin Dealers, Auction Houses, Coin Forums and Coin Collectors to please keep an eye out for these coins and if you do come across this, please report it to the police and contact us immediately.

7.  We would like to send you the pictures of the five (5) rare Cyprus stolen coins herewith but what no possible.

8.  We thank you in advance for your cooperation/assistance and we hope to inform all your members about this issue in order to protect them and also help us resolve this matter.

Ms Panayiota Skitini Nicolaides

Director of Cointime Ltd.


Date posted: 22 August 2014