Damian Gallagher, who has been charged with aggravated burglary, appeared in Ballarat Magistrates Court on Wednesday for a second bail application.

The court heard Gallagher, who was on a suspended sentence at the time, and a co-accused allegedly forced their way into a Drummond Street South property approximately 9am on July 15 while a female slept.

Police informant Detective Senior Constable Rod Stepnell said the pair ransacked the front two bedrooms before locating a safe with $4500 of notes and coins and gold and silver coins valued at $26,900.

He told the court the co-accused entered another bedroom and after seeing the female fled the property with the accused.

Detective Senior Constable Stepnell said six minutes after the burglary Gallagher made a phone call to a gold merchant in Shepparton.

At 10.50am on the same day the accused was seen by police at a Sturt Street bank exchanging coins for notes.

The following day it was alleged Gallagher sold the valuable coins for $9090 at a Melbourne gold buyer.

Detective Senior Constable Stepnell said Gallagher made full admissions to selling the valuable coins, but denied involvement in the burglary, stating he received the goods from another male.

But he said a police check of the man’s name found he was in custody in Melbourne at the time of the burglary. 

Opposing bail, Detective Senior Constable Stepnell said he believed Gallagher would continue to offend if released on bail and deal with the witnesses who are understood to be known to the accused.

Gallagher’s defence lawyer told the court there was no physical evidence his client was involved in the burglary and had not been identified by the female. 

He said any risk to the community would be reduced with strict bail conditions. Magistrate Michelle Hodgson remanded Gallagher to appear in court on October 22.