The episode opened with Agents Peter Burke (Tim DeKay) and Clinton Jones (Sharif Atkins) trying to figure out what possible nefarious activity Neal Caffrey (Matt Bomer) was up to, what with the whole missing money, FBI pen and other oddities. Burke was zeroing in on a location revealed by Caffrey's tracking anklet and mulling over a business card found in the late Agent David Siegel's badge holder.
Duty called, with Burke and Caffrey heading to a crime scene. He did try to see what Caffrey thought about 'Cooper 3', which was written on the back of the card, but the criminal informant said he didn't know. They got to the scene - a delivery truck. There was a crate still left in there. Caffrey's first guess was a sculpture. Nope. It was a dinosaur egg. They took it to the Museum of Natural History, where they met Dr. Khatri, a female curator. She immediately dropped a bombshell - there was supposed to be another fossil: the mother. It was a big loss, literally, since it was a T-Rex.
Later that night, Rebecca (Bridget Regan) came to Caffrey's with a Mosconi book and some wine. Unfortunately, any spark from their previous kiss was extinguished by the presence of Mozzie (Willie Garson), who was there as Agent Gruetzner. They found a Masonic symbol. Mosconi was sending messages out to the other Masons with this chapter. Mozzie thanked her and sent her off, though Caffrey managed to schedule another date, this time to be sans the curmudgeonly Mozzie. After closing the door, Mozzie revealed that he had vetted her, an act that left Caffrey unsure whether he should thank him or punch him.
At the FBI office, Jones and Burke were looking at people who had made bids for the dinosaurs. One was Brett Forsythe, played by the always great Zeljko Ivanek, who had bid once and then stopped after that. That made him a likely suspect. Burke went to his office to rattle his cage. Of course, Forsythe denied it, but not before Burke saw a double-door with a keypad and also a suspiciously empty shelf under a display case that also contained a velociraptor skull.
Caffrey then went undercover into Forsythe's office as a janitor, and, not content to take a picture of an item that had been put back in the empty space under the skull, he got greedy and opened the doors. Of course, in true White Collar fashion, Forsythe came back to the office. He heard Caffrey shutting the door and investigated, but didn't see Caffrey hiding behind the door. (Look to the left as well as the right, dude...)
After IDing the item under the skull as a Pre-Colombian weapon, Jones and Burke then narrowed down suspects who might steal such things to one Michael Holt. Then Jones showed Burke surveillance cams of Caffrey with Rebecca.Yeah, Big Brother is going to get you, Caffrey. Burke roped Elizabeth (Tiffani Thiessen) into a double date to catch Caffrey unawares.
Sure enough, Caffrey and Rebecca were eating dinner and Rebcecca asked Caffrey about his story about how he became an agent. Caffrey demurred at first. The two were gazing romantically at each other when Burke and Elizabeth joined them, to Caffrey's surprise and annoyance. Burke introduced himself as Caffrey's boss, and Rebecca, confused since she thought Mozzie was Caffrey's boss, blurted that Caffrey was an agent. Burke looked like he was about to have a coronary. Elizabeth managed to get Rebecca away from the table to go to the bathroom and look for another table, and Burke was about three seconds away from telling Rebecca the truth that Caffrey was impersonating a federal officer, which is, as you know, A BIG CRIME. Caffrey played on Burke's sympathy, saying that she didn't view him like a criminal. Burke relented and then just as he was going to leave them alone, he got a call, saying Dr. Khatri was in trouble. Since Burke and Caffrey were nearer than the NYPD, they went to her lab.
They found an angry Holt trying to get Khatri to give up the egg. She wouldn't. Holt had a gun. Caffrey, thinking quickly, grabbed a lab coat and pretended to be another curator, led Holt out of the room ostensibly to give him the egg. Waiting right outside the door, Burke arrested Holt.
With Holt out of the picture, they still needed to get Forsythe to bite on a sting. Mozzie and Caffrey made a fake egg, since Caffrey had told Burke earlier that his partner liked to make fake eggs and plant them at excavation sites. Afterwards, Mozzie trumpeted his message again that it would be a good idea to not get emotionally attached to Rebecca and possibly plan for an end, since if the FBI dug deeper, it could lead to Curtis Hagen (Mark Sheppard).
To conduct the sting, Caffrey played an accomplice of Holt's. He met with Forsythe and brought the fake egg, which contained a tracker inside. Forsythe wanted to run tests, which included a CAT scan. That would have been bad, since it would have shown the tracker. Thinking fast, Burke went in again, and stalled Forsythe by being clumsy with the velociraptor skull. When Forsythe wasn't looking, he tossed Caffrey a thumb drive with a CAT scan of the real egg, which Caffrey fed into Forsythe's machine. Satisfied with what he saw, he gave Caffrey a briefcase of money.
Later, Forsythe took the egg to a warehouse. Caffrey and Burke, were outside, having followed the tracker. Caffrey went in first and then Burke and the rest of the FBI came in, and arrested Forsythe. There was a large crate with the Mama Rex in there.
Burke and Caffrey went to the Museum of Natural History to see the Mama Rex and egg. As a show of thanks, Burke got VIP status, which pleased the paleontology geek to no end. He then did an about face and ordered Caffrey to go his place and have dinner with him and Elizabeth. They grilled Caffrey on Rebecca and his feelings for her (they had no idea about the whole Mosconi code book). Both of them suggested he come clean about his criminal informant status if he really wanted to pursue something with her. This was reinforced by his landlady, June, who also happened to be the wife of a former co-criminal friend of Caffrey's.
Caffrey had Rebecca come over. She looked ready for a romantic evening, but before they started, he showed her his anklet and explained the whole situation ... well, minus the whole Hagen-controlling-him thing. She was hurt at being lied but then she got over it. Fast. They wound up making quite a night of it.
Of course, it couldn't end on a good note. Caffrey was returning home the next morning, with two cups of coffee in hand, one for Rebecca. He saw June and Hagen talking. June was nice to Hagen, but before she left, she flashed Caffrey a weird look, obviously recognizing that Hagen wasn't any good. Once she was gone, Hagen was to the point: he knew about the window and what it meant to Mosconi. The next step: steal the window. Frustratingly, Caffrey still found himself under Hagen's thumb.