A chest of antique coins worth up to £300,000 was stolen by a gang in a sting on two auctioneers as they drove away from a exhibition centre.

Experts fear that the collection, which featured two gold coins of priceless historical value, could have been melted down. One of the coins can be dated back to 1826 and was worth up to £35,000. The gang of about six men and two women targeted two men from Dix Noonan Webb, the auctioneer, in South Kensington, London, when the coins had been displayed at Earl’s Court Exhibition Centre. It is believed that the gang sabotaged the men’s car and followed them from the centre.As the auctioneers drove away, they were approached by at least one member of the gang who told them that they had a flat tyre. The men stopped, pumped up the tyre up and continued on their way but soon realised it was flat again.

As they got out to have another look, a Mediterranean-looking man and other members of the gang approached and asked for directions. They pulled out a map for the auctioneers to look at, distracting them. The chest of coins was taken from the car by another member of the gang. Not realising what had happened, the two men finished changing the wheel and continued their journey.

Detective Sergeant Neil Phillpot, from Notting Hill CID, said: “We believe this was an organised crime involving at least seven suspects. We are keen to trace them and believe they may be from Central or South America.”

Posted: 12|31|07 at 5:18 pm. Filed under: Auction News.