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Updated. Would you sell old 10k class rings for melt to trade in on numismatic gold?

DNADaveDNADave Posts: 7,239 ✭✭✭✭✭
edited January 14, 2023 9:19AM in U.S. Coin Forum

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.

Comments

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    LazybonesLazybones Posts: 1,394 ✭✭✭✭✭

    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.

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    DNADaveDNADave Posts: 7,239 ✭✭✭✭✭

    @JBK said:
    I'm pretty sure scrapping a cross gets
    @JBK said:
    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?

    Possible but this is an impulse purchase I’m trying to justify here. Lol

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    JBKJBK Posts: 14,780 ✭✭✭✭✭

    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. :#

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    291fifth291fifth Posts: 23,944 ✭✭✭✭✭

    Melt 'em, Danno!

    All glory is fleeting.
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    ChevyroseChevyrose Posts: 225 ✭✭✭

    Scrap that junk

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    TPRCTPRC Posts: 3,740 ✭✭✭✭✭

    would do it and have done it.

    Tom

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    pcgscacgoldpcgscacgold Posts: 2,638 ✭✭✭✭✭

    Already did it and have no regrets.

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    d9lowed9lowe Posts: 304 ✭✭✭✭

    Scrap it. Turn it into something you will value.

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    ashelandasheland Posts: 22,694 ✭✭✭✭✭

    100% agree, sell the scrap and get that Indian!

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    DNADaveDNADave Posts: 7,239 ✭✭✭✭✭

    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.

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    WalkerfanWalkerfan Posts: 8,975 ✭✭✭✭✭

    Unless I had a personal or emotional connection to the rings; I'd scrap them.

    “I may not believe in myself but I believe in what I’m doing” ~Jimmy Page~

    My Full Walker Registry Set (1916-1947)

    https://www.ngccoin.com/registry/competitive-sets/16292/

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    coinbufcoinbuf Posts: 10,769 ✭✭✭✭✭

    In a heartbeat, although I might hold onto the cross as I doubt that would be worth very much as silver melt.

    My Lincoln Registry
    My Collection of Old Holders

    Never a slave to one plastic brand will I ever be.
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    BStrauss3BStrauss3 Posts: 3,166 ✭✭✭✭✭

    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.

    -----Burton
    ANA 50 year/Life Member (now "Emeritus")
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    Namvet69Namvet69 Posts: 8,675 ✭✭✭✭✭

    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

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    bsshog40bsshog40 Posts: 3,778 ✭✭✭✭✭

    I would scrap also. Why keep something with no sentimental value that will never be used.

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    TomBTomB Posts: 20,733 ✭✭✭✭✭

    You bought them at an estate sale...you’re not wed to them.

    Thomas Bush Numismatics & Numismatic Photography

    In honor of the memory of Cpl. Michael E. Thompson

    image
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    SmudgeSmudge Posts: 9,256 ✭✭✭✭✭

    Scrap them.

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    Cougar1978Cougar1978 Posts: 7,640 ✭✭✭✭✭
    edited January 13, 2023 5:56PM

    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.

    So Cali Area - Coins & Currency
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    gumby1234gumby1234 Posts: 5,428 ✭✭✭✭✭

    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

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    DNADaveDNADave Posts: 7,239 ✭✭✭✭✭

    @gumby1234 said:
    Doesn't look to be the $1200 worth of precious metal in that pile. Any diamonds in the rings?

    Definitely not. I’m hoping for 500 and I’ll have to dig up the rest.

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    Schmart.

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    HalfpenceHalfpence Posts: 442 ✭✭✭✭

    You can't take any of this with you, so its really up to you.

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    Che_GrapesChe_Grapes Posts: 1,851 ✭✭✭✭✭

    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.

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    AtcarrollAtcarroll Posts: 343 ✭✭✭

    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.

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    mirabelamirabela Posts: 4,970 ✭✭✭✭✭

    In general I'm a big fan of liquidating junk and getting something better with the proceeds, so -- yes.

    mirabela
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    rte592rte592 Posts: 1,454 ✭✭✭✭✭

    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?

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    NickelMikeNickelMike Posts: 190 ✭✭✭

    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!

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    jmlanzafjmlanzaf Posts: 31,981 ✭✭✭✭✭

    @Che_Grapes said:
    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.

    It would cost you more to get it refined to 0.999 than the value of the gold itself

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    rickoricko Posts: 98,724 ✭✭✭✭✭

    Sell the jewelry for best offer, Just taking up space. Don't put any work into it. Cheers, RickO

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    ashelandasheland Posts: 22,694 ✭✭✭✭✭

    Nice coin! You did the right thing. 👍

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    NumisOxideNumisOxide Posts: 10,989 ✭✭✭✭✭

    The coin is much more enjoyable!! I like it.

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    nwcoastnwcoast Posts: 2,845 ✭✭✭✭✭

    Right on!
    Good choice!

    Happy, humble, honored and proud recipient of the “You Suck” award 10/22/2014

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    ironmanl63ironmanl63 Posts: 1,971 ✭✭✭✭✭

    I think you did well.

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    rte592rte592 Posts: 1,454 ✭✭✭✭✭

    @DNADave said:
    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"

    Good return on the rings, but What?
    you paid an extra $50. :)
    Just kidding, You Did Well.

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