Grand Saline man accused of theft of $440K worth of gold coins

Grand Saline man accused of theft of $440K worth of gold coins
Russell Wayne Melton, 28 (Source: Smith County Sheriff's Office)

TYLER, Texas (KLTV) - The Smith County Sheriff’s Office has arrested a Grand Saline man accused of stealing $440,000 worth of gold coins as part of his loot during a November home burglary.

Russell Wayne Melton, 28, is charged with theft of over $300,000. He was arrested on Dec. 8 and is being held on a $250,000 bond.

On Nov. 19 the Smith County Sheriff’s Office received a report of $440,000 worth of gold coins, a GMC Denali, guns, and an HP laptop were stolen in a home burglary.

The affidavit from the case said the investigation led to the American Gold and Diamond Exchange where two gold “Viente Pesos” were sold for $1,600.

The investigation led to Ben Wheeler where a search of a car revealed several of the “Viente Pesos” and an HP laptop matching one reported missing along with the coins. One of the occupants of the car said the coins were given to them by a “homeless person”.

The other person in the car said he received the coins and the HP laptop from Russell Melton. He said Melton also had the stolen GMC Yukon Denali.

On Dec. 7, an ATF agent reported Melton was in Mineola. Information received from a person at the Mineola residence connected the coins and the Denali to Melton. When Melton was interviewed, according to the affidavit, he said he heard the Denali was stolen and got rid of it.

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