Updated. Would you sell old 10k class rings for melt to trade in on numismatic gold?
DNADave
Posts: 7,280 ✭✭✭✭✭
So I can purchase a 1908-D $5 Indian in PCGS MS63 (Old solid blue label, good looking coin) for 1800 but I only have 600 folding money in my pocket.
I also have this little pile of 10k gold rings, Masonic, 1959 high school, 1964 college and a silver necklace. I’m 100% profit whatever I get for these.
I feel a little bad about melting the local school rings but what am I going do with them. They were from an estate sale purchase.
Would you just buy the coin outright or scrap the rings for a type coin?
I’m leaning towards scraping them and will post pics of the coin tomorrow if I do.
The worst part is taking snips to the rings to bust out the glass.
1
Comments
I'm pretty sure scrapping a cross gets you a one-way ticket to H***.
Is there any chance to get more than melt on ebay or Facebook marketplace for any of that?
Yes, easy decision
If you have no emotional or sentimental feelings toward the scrap, the answer is obvious. I mean, you bought the stuff to scrap.
Just my 2¢
USAF (Ret) 1974 - 1994 - The inherent vice of capitalism is the unequal sharing of blessings; the inherent virtue of socialism is the equal sharing of miseries. Remembering RickO, a brother in arms.
People sell old jewelry all the time. I sold off a gold bracelet to buy a telescope, I also sold a telescope and purchased a gold coin. I wasn't using it either. I did try to sell my wedding band but I got whacked upside the head, so that's a hard no
My current registry sets:
20th Century Type Set
Virtual DANSCO 7070
Slabbed IHC set - Missing the Anacs Slabbed coins
Possible but this is an impulse purchase I’m trying to justify here. Lol
I've scrapped some family jewelry that I inherited from a friend (it wasn't stuff that he had worn).
I'm still trying to decide on the last few pieces.
Why wouldn't you scrap it, unless there's some sentimental attachment there? I'd likely keep the cross since it's (apparently) just silver and wouldn't add much to the bottom line anyway. Plus, it might come in handy if you're ever in Transylvania.
RIP Mom- 1932-2012
Melt 'em, Danno!
Scrap that junk
would do it and have done it.
Tom
Already did it and have no regrets.
Successful BST with drddm, BustDMs, Pnies20, lkeigwin, pursuitofliberty, Bullsitter, felinfoel, SPalladino
$5 Type Set https://www.pcgs.com/setregistry/u-s-coins/type-sets/half-eagle-type-set-circulation-strikes-1795-1929/album/344192
CBH Set https://www.pcgs.com/setregistry/everyman-collections/everyman-half-dollars/everyman-capped-bust-half-dollars-1807-1839/album/345572
Scrap it. Turn it into something you will value.
100% agree, sell the scrap and get that Indian!
My YouTube Channel
Good. Gun show in the morning and then back to the pawn store.
I’ll call it a small step towards getting out of a hoarding mentality.
Unless I had a personal or emotional connection to the rings; I'd scrap them.
Sometimes, it’s better to be LUCKY than good. 🍀 🍺👍
My Full Walker Registry Set (1916-1947):
https://www.ngccoin.com/registry/competitive-sets/16292/
In a heartbeat, although I might hold onto the cross as I doubt that would be worth very much as silver melt.
My Collection of Old Holders
Never a slave to one plastic brand will I ever be.
Seriously, if you graduated HS or Uni 63 years ago, you either have your ring, lost it, or didn't buy it in the first place - and could care less.
ANA 50 year/Life Member (now "Emeritus")
Scrap plenty so you can get a really nice IHC. Good luck. Peace Roy
BST: endeavor1967, synchr, kliao, Outhaul, Donttellthewife, U1Chicago, ajaan, mCarney1173, SurfinHi, MWallace, Sandman70gt, mustanggt, Pittstate03, Lazybones, Walkerguy21D, coinandcurrency242 , thebigeng, Collectorcoins, JimTyler, USMarine6, Elkevvo, Coll3ctor, Yorkshireman, CUKevin, ranshdow, CoinHunter4, bennybravo, Centsearcher, braddick, Windycity, ZoidMeister, mirabela, JJM, RichURich, Bullsitter, jmski52, LukeMarshall, coinsarefun, MichaelDixon, NickPatton, ProfLiz, Twobitcollector,Jesbroken oih82w8, DCW
I would scrap also. Why keep something with no sentimental value that will never be used.
My Original Song Written to my late wife-"Plus other original music by me"
https://youtube.com/playlist?list=PL8A11CC8CC6093D80
https://n1m.com/bobbysmith1
You bought them at an estate sale...you’re not wed to them.
In honor of the memory of Cpl. Michael E. Thompson
Scrap them.
No I would not scrap my class rings - HS, BBA Mgt, MS Acctg (still wear).
If I don’t have the budget for it I don’t buy it.
Doesn't look to be the $1200 worth of precious metal in that pile. Any diamonds in the rings?
Successful BST with ad4400, Kccoin, lablover, pointfivezero, koynekwest, jwitten, coin22lover, HalfDimeDude, erwindoc, jyzskowsi, COINS MAKE CENTS, AlanSki, BryceM
Definitely not. I’m hoping for 500 and I’ll have to dig up the rest.
Schmart.
You can't take any of this with you, so its really up to you.
I have a different view - I would get it all melted to a 999 gold bar (might not be very big but could be 1/3 or 1/2 oz?) and save it - buy the collectible coin if you have extra money to do so, but I would not trade bullion for numismatics if I couldn’t afford both at any given time in my life…
And believe me - I’ve been there.
If it were me I'd offer them up for sale first, if the time frame for the purchase of the half eagle allowed. Someone might want them enough to pay more than melt.
In general I'm a big fan of liquidating junk and getting something better with the proceeds, so -- yes.
I'm assuming you got this lot to possibly flip at a later date.
The silver cross may be of interest to someone as wearable.
The rings probably a smaller audience, that's why those get scrapped.
You could take the items in and see what the offer is then weigh the options.
You wouldn't be melting the cross but passing it on to someone else who may find it a better home.
The cross isn't all that elaborate but interesting and probably has a good story, as long as the previous owner doesn't still hang around spiritually?
I’m also a big fan of getting rid of junk. Melt it down and get something you like. There is a ton of that stuff around!
It would cost you more to get it refined to 0.999 than the value of the gold itself
Sell the jewelry for best offer, Just taking up space. Don't put any work into it. Cheers, RickO
I did it. The rings brought $1225 towards the coin, which was 1850 today. Cell phone Pics don’t do it justice. It’s deep gold colored
Nice coin! You did the right thing. 👍
My YouTube Channel
The coin is much more enjoyable!! I like it.
Right on!
Good choice!
Happy, humble, honored and proud recipient of the “You Suck” award 10/22/2014
I think you did well.
Good return on the rings, but What?
you paid an extra $50.
Just kidding, You Did Well.