Question:

 What is the difference between grand theft and petty theft?

Answer:

Theft is "grand theft" if property is taken directly from another person's body, like a "pick-pocket," for example.  Theft is also "grand theft" if the value of the property stolen exceeds $500.  Most people used to think of grand theft in connection with automobiles or expensive jewelry, but grand theft can include anything valued over $500.  There have been grand theft cases for stealing such things as scrap metal or a bicycle.  "Grand theft" is a Class 4 felony with a maximum punishment of 10 years in the state penitentiary and/or a $10,000 fine.