Police auctions are not new. Since laws were enacted that allowed law enforcement to seize property used as part of commercial enterprises or purchased with ill-gotten gain, auctions of this property has become as common as some of the arrests. But in Warwick, Rhode Island, the state police will be auctioning seized coining equipment that was used by a convicted forger.
In 1998, Louis B. Colavecchio, nicknamed “The Coin,” was convicted for striking near-perfect counterfeit tokens that were so good the U.S. Mint hired him as a consultant.
Colavecchio was arrested again in 2006 when high-quality counterfeits turned up in east coast casinos. His coining machines and surprised was seized as part of this arrest. On Saturday, September 20, everything goes up for auction sponsored by the Rhode Island State Police.
In addition to seized cars and other items by creditors of bankrupt businesses, the Colavecchio coining equipment includes:
Hansvedt EDM Machine with H Pulse 201E power supply, MMD Milano hydraulic press, Watson-Stillman hydraulic press, Durston electric roller mill, Barker surface grinder, Speedaire 10 gallon air compressor
If you are in the Warwick, Rhode Island area, you can attend the auction at the offices of SJ Corio Company at 22 Dewey Avenue. Those that do attend are welcome to write a report. I will consolidate the notes and post them here.
Image courtesy of SJ Corio Co.