Paoli Man Admits To Stealing $1.6M Worth Of Precious Coins

PAOLI, PA — A Paoli man pleaded guilty to bank larceny in federal court after he was accused of stealing $1.6 million in precious coins from a bank.

United States Attorney David Metcalf said Richard DiStefano, 65, of Paoli, pleaded guilty Tuesday before United States District Judge Timothy J. Savage to one count of bank larceny after being charged earlier this month.

DiStefano admitted that starting in July 2017 through Feb. 25, 2021, he stole precious coins that were being stored in a safe deposit box at a Wells Fargo branch on the 100 block of South Broad Street in Philadelphia.

In June 2024, the FBI learned of the theft, and investigators were able to obtain records showing that the DiStefano was the last person to have access to the safe deposit box.

In September last year, the FBI executed a search warrant at DiStefano's address, and during the search he admitted to stealing the coins, federal authorities said.

The investigation showed that, over the course of years, DiStefano took the coins from the safe deposit box and sold them at various auction houses.

The coins’ appraised value was slightly more than $1.6 million.

DiStefano is scheduled to be sentenced on Jan. 13, 2026, and faces a maximum possible term of 10 years’ imprisonment, three years of supervised release, and a $250,000 fine.