Missouri coin store owner charged with conning elderly man out of thousands of dollars

The owner of a Missouri coin store could face prison time after he allegedly exploited thousands of dollars from an elderly man.

By Sarah Motter

BURLINGTON JUNCTION, Mo. (KCTV) - The owner of a Missouri coin store could face prison time after he allegedly exploited thousands of dollars from an elderly man.

Nodaway County, Missouri, Circuit Court records filed on Monday, July 14, indicate that Gerald R. Galyan, 49, of Burlington Junction, has been charged in connection with the crime.

A probable cause statement filed by the Nodaway County Sheriff’s Office revealed that on June 17, 2024, investigators were contacted about a possible theft. The elderly victim’s nephew reported that several discrepancies had been found in his uncle’s bank account.

Law enforcement officials noted that in total, more than $26,000 had been stolen from the victim’s bank account. The investigation led the Sheriff’s Office to Galyan, the owner of T and J Coins N’ More. 

During an interview with investigators, they said Galyan claimed the victim had paid him the missing money for services he had provided since the victim’s wife had passed away. He then claimed the victim had been a partner in his gold and silver business.

However, the victim told law enforcement officials he never intended to be partners with Galyan. 

The Sheriff’s Office said a search of Galyan’s home and business revealed receipts for the transactions as well as $35,000 in counterfeit cash and counterfeit items.

Court documents noted that Galyan was charged with financial exploitation of an elderly person, stealing $750 or more, counterfeiting and fraudulent use of a credit or debit device on July 14. If found guilty, he could be sentenced to up to 33 years in prison.

A warrant was issued for Galyan’s arrest on Monday with the condition of a $30,000 bond. As of Monday evening, he does not appear to have been arrested on these charges. No further information has been released. 

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Missouri coin store owner charged with conning elderly man out of thousands of dollars