$50K in rare gold coins stolen from Hollywood music producer's home

HOLLYWOOD, LOS ANGELES (KABC) -- A search is underway for thieves who made off with more than $50,000 in rare gold coins from the Hollywood Hills home of Grammy-winning songwriter and producer, Toby Gad.

According to Los Angeles police, there have been a string of burglaries in Gad's upscale neighborhood.

Investigators believe the crooks chose his home because it is being renovated and had easy access to get inside.

The burglary likely occurred Monday afternoon, but police were not alerted to the crime until around 7:30 p.m. That's when police said Gad's wife, Li Gad, was walking through the home to check on the construction project and noticed her house had been ransacked and that their high-end safe was cracked.

"I went to the safe and all of our papers, passports, everything from the safe was laying on the floor. It was completely open, and I was just freaked out," she said. She then noticed that approximately $50,000 in gold coins and valuables were gone.

Detectives went door-to-door looking for surveillance video of the crime, but they had no luck.

The Gads do not believe they were targeted. Toby Gad said the safe was top-of-the-line, and he's surprised they got inside. A sledge hammer, a crow bar and a pickaxe were found at the scene near the safe.

Toby Gad has been collecting gold coins since he was a child. Many were irreplaceable.

"It's gold that I've collected since I was 12 years old. My granddad gave me my first gold coin, and then my dad bought me one, and whenever I made some money, I bought another gold coin," he described. "In the end, it was 40 ounces of gold. And yeah, every gold coin told a story to me."

He said the only people who knew the safe was located in the garage were immediate family members and crew members working on the construction project. However, he said he doesn't believe they're involved in the crime.

Toby Gad is an award winning, multi-platinum producer and songwriter. He's worked with mega stars like will.i.am, Madonna, John legend and the Dixie Chicks.

If you have any information about this incident, you're urged to contact LAPD.