Bradenton coin dealer gets prison time after flea market scam, records show
A Bradenton coin dealer accused of scamming customers out of thousands at a popular local flea market will spend the next decade in prison.
A Manatee County judge sentenced Seth Felipe Lutz, 64, to 10 years in prison and an additional 10 years of probation after multiple grand theft cases alleged that Lutz took money for gold and silver coins and bars he never delivered, according to court records.
Deputies estimate Lutz scammed customers out of nearly $300,000 across multiple counties in recent years, according to arrest reports, including about $60,000 reported by six Manatee County customers.
Investigators with the Manatee County Sheriff’s Office said Lutz operated a booth at the Red Barn Flea Market, 1707 First St., Bradenton, under the name “Steve’s Best Coins,” where he accepted upfront payments for gold and silver coins and bars but failed to deliver the promised items. Customers told investigators Lutz issued receipts, blamed delays on supply problems and then stopped responding altogether, according to an arrest report.
Lutz pleaded no contest to five separate felony theft cases in Manatee County. They included two second-degree grand theft charges involving tens of thousands of dollars and three third-degree grand theft charges tied to smaller transactions, court records show. Prosecutors also dropped a separate third-degree grand theft case earlier this year.
An attorney representing Lutz did not immediately respond to the Bradenton Herald’s request for comment.
Customers say they were scammed by Bradenton coin dealer
In one case, a customer told detectives they paid a nearly $25,000 deposit in January 2024 for a set of gold coins that never arrived. The buyer said Lutz offered repeated excuses and partial reimbursements but refused to provide a full refund.
During an interview, Lutz later admitted to investigators that he never had the coins in stock and could not fulfill the order or return the money, according to an arrest report.
Around seven months later, another customer reported paying Lutz $29,000 for more than 1,000 pure silver bars that were supposed to be delivered within three weeks. When the deadline passed, the buyer said Lutz claimed he was hospitalized and having trouble receiving the product. When the customer contacted Lutz’s son, whose name appeared on the business card, the son said his father was in prison on grand theft charges, according to an arrest report.
Another Manatee County case involved a May 2024 transaction in which a customer said they paid nearly $1,000 for three silver bars after Lutz claimed he had them in stock and promised immediate delivery, according to the report. The buyer said they had previously done business with Lutz without issue, but the silver never arrived. Lutz later told investigators he did not have the items and could not issue a refund.
Seller hid real name from buyers, deputies say
During the investigation, detectives said they learned the man operating as “Steve” was actually Seth Lutz. When asked why he used the name on receipts and business materials, Lutz said he “just liked the name Steve.” Detectives said the alias was used to conceal his criminal past.
“It is apparent that Lutz is attempting to keep his actual name private from buyers,” a detective wrote in an arrest report.
An arrest report shows Lutz previously ran a business called “Paradise Coins and Collectibles” in Pinellas County, where investigators said he scammed 31 buyers out of more than $220,000 worth of gold and silver coins over five years. He was arrested in 2017, served more than five years in prison and was released in September 2022, according to court records.
Despite being on active probation through 2037, investigators said Lutz resumed similar fraudulent practices in Manatee County shortly after his release.
Deputies arrested Lutz in December 2024, according to court records. He initially pleaded not guilty before resolving all five Manatee County cases through no contest pleas. Circuit Judge Matt Whyte sentenced Lutz on Sept. 3.
