- Associated Press - Wednesday, March 5, 2014

TUCSON, Ariz. (AP) - Authorities in Tucson say a man is in custody for allegedly buying stolen firearms plus gold and silver jewelry.

Tucson police said Tuesday night that 55-year-old David Reid is being held on suspicion of three counts of trafficking in stolen property.

Police say they received information last October and began an investigation into Reid.

They say Reid allegedly melted down the jewelry for its metal content and the metal was reshaped into bars and sold to precious metal dealers.

Police obtained a search warrant for Reid’s home and say they found large quantities of gold and silver jewelry along with coins valued of $228,000.

Other items found in the home included two stolen firearms and more than $3,000 in cash.

Police didn’t immediately know if Reid has legal representation yet.

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