• Diamonds, silver coins in govt treasury vault

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    Who would have thought that the Bureau of Treasury’s vaults contain diamonds, silver coins and gold pens?

    State auditors were surprised to discover that the diamonds worth P2.1 million were uninsured. The costly rocks were listed in the bureau’s books as “escheated items” or items that revert to State ownership in the absence of a valid claimant.

    The Commission on Audit (COA) also found that the government vaults also had166 pieces of P1 silver coins and 412 pieces of various foreign currency coins, as well as two gold watches bearing the faces of the late President Ferdinand Marcos and his wife Imelda Marcos, three gold cross pens and gold and silver coins. Auditors said these assets were never appraised.

    The COA told the bureau to insure the diamonds to cover replacement cost in case it is lost.

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