Chauncey Victims Receive Payment
By: Nick Ochsner
Updated: September 24, 2012
Dozens of people who claim former coin dealer Ed Chauncey owes them money for rare coins they paid for but never received have reached a settlement that, this week, gave them a cash payment.
Lubbock Attorney Mike Calfin, who was appointed the master in chancery to administer the funds, confirmed to EverythingLubbock.com Monday the funds were in the process of being paid out.
According to Calfin, victims who claimed Chauncey owed them money received about 23 cents on the dollar, which he claims is a good price considering the declining market for precious metals.
The payments come after nearly six months of work by Calfin and a group of other attorneys who had to sort out and process 22 different claims.
Calfin said Mondy that victims will most likely not be able to claim the remainder of the money they are owed.
Lubbock Attorney Mike Calfin, who was appointed the master in chancery to administer the funds, confirmed to EverythingLubbock.com Monday the funds were in the process of being paid out.
According to Calfin, victims who claimed Chauncey owed them money received about 23 cents on the dollar, which he claims is a good price considering the declining market for precious metals.
The payments come after nearly six months of work by Calfin and a group of other attorneys who had to sort out and process 22 different claims.
Calfin said Mondy that victims will most likely not be able to claim the remainder of the money they are owed.
