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 Replies: 15 / Views: 2,071 |
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Pillar of the Community
United States
3276 Posts |
My grandmother has a 1907 double eagle and it is in a bezel that she used to wear as a necklace. She wants to sell is. My question is where and how? Would she get more by selling as is? If so where would we sell it?
If it were mine I would take the coin out and try to sell it at a coin store or something. Then sell the gold bezel as scrap somewhere.
Any ideas to what to do with this bad boy to maximize profit? Does the bezel ruin the coin at all? The coin looks in great shape, so hopefully it isn't ruined where it is clasped.
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Pillar of the Community
United States
759 Posts |
It's extremely difficult, and sometimes impossible, to remove gold coins from a mount and leave no trace. A jeweler would be your best bet at an attempt, and they would likely have some sort of hold harmless discussion with you before. Any chance of pictures? Either way, I would shop it around at 2-3 coin stores as is and see what the response is. The high offer from them may very well be better than your post-fees outcome off of ebay. Why not see what they offer and then put it up here for $50 more and see if you have any takers in a day or so. There are many here that seem to be in the market for gold. Good luck! |
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Pillar of the Community
Canada
3692 Posts |
If there's any solder on it I would look at selling it as is. The reason for this is that someone took the time to make it and disassembling it would invalidate the work put into it. Would you accept a driveway that was all rubble? However, if the bezel is raised and protects the coin from surface wear and it has acceptable luster then you can try to remove it. Just consider its future numismatic value. At BEST it would be AU.
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Pillar of the Community
United States
1659 Posts |
Quote:
If it were mine I would take the coin out and try to sell it at a coin store or something. Then sell the gold bezel as scrap somewhere. This is what I would do as well if I could do it without damaging the coin. If the coin is soldered in or somehow pressed into the bezel, I think I'd leave it as is. |
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Pillar of the Community
 United States
3276 Posts |
This is actually a real bad picture. The coin looks so much better than this. But yeah I think maybe taking it to a coin shop and seeing what they offer might be best. I'll think about it.  |
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Valued Member
United States
275 Posts |
If the reverse is enclosed then the possibility that it has been damaged is great. Dust getting in and abrading it after time. Give us a pic of the reverse.
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Pillar of the Community
Canada
3692 Posts |
It looks pretty ornate. I would leave it as it is. Somebody out there would want it. Go to a jeweler. A coin shop will probably want you to remove it and THEN they would make you a low offer. A jeweler MIGHT see the value in it and realize its full potential in his or her market. Most jewelers, though, know very little about coins, so keep that in mind - they deal mainly with whatever their refiner has at the time.
Out of sheer curiosity can we get a closeup of the rims where the bezel meets the coin? Look for ding marks that would indicate any sort of punch or graver marks that would push the bezel into place. Because the coin is not discolored I would tend to believe that there was no heat applied directly to the coin.
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Pillar of the Community
United States
759 Posts |
I'm going to guess that a picture of the reverse would convince me that evidence of it being ex-jewelry would remain after any attempt to remove it. The evidence may be very, very slight though and the coin could appeal to someone looking to acquire their first double eagle. I think it would still command a premium over melt at the retail level. To be safe though, I'd manage your grandmother's expectations to the melt value and be a hero when you deliver something more. It's actually a nice mount, but not exactly something women in their 20s are interested in these days. A picture of the reverse is going to be key if you offer it here. Good luck. Very nice to help your grandmother on this to prevent any possibility of it going to a "we buy gold" place.
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Pillar of the Community
United States
3276 Posts |
Unfortunately I can't get a reverse picture or closer up pictures. She showed it to me yesterday which got me to want to post here. But this picture is one that I found in my photobucket from maybe a year ago. Couldn't find the reverse picture. But I quoted her about $1600 just so she could not be upset with the final price. She was like "woah". I asked if that was more or less than she expected. She said she bought it for $300 so she would be happy with that amount..
We'll see. I'd just take it to a jeweler and see their price, and then take to a coin shop to see what they think. Either way I'm sure she'd be happy.
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Pillar of the Community
United States
2077 Posts |
It wasn't that long ago that it was only worth $300! Took ninety years to go from $20 to $200 and 15 to go from $200 to $1600. Something wrong with this picture?
I'd keep it in the mount. Looks nice there. Even if you remove it, a dealer will tell you it was cleaned and only offer melt. A jeweler may pay a premium because they could sell it as is.
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Bedrock of the Community
United States
20753 Posts |
I would first consider ebay for selling. Very possibly some lady may want that as is. |
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Pillar of the Community
United States
4897 Posts |
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I'd keep it in the mount. Looks nice there. Even if you remove it, a dealer will tell you it was cleaned and only offer melt. A jeweler may pay a premium because they could sell it as is.
 any decent coin dealer is gonna see it as polished. Very nice piece of jewelry though! |
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Bedrock of the Community
United States
11951 Posts |
IMO - A good coin shop would give you in the 90% range of melt for the coin.
If the bezel is 14k, a good shop would give you around $31 per pennyweight.
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Pillar of the Community
United States
548 Posts |
Quote:
IMO - A good coin shop would give you in the 90% range of melt for the coin.
If the bezel is 14k, a good shop would give you around $31 per pennyweight. That's what my shop pays. |
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Pillar of the Community
United States
1348 Posts |
IMO you should sell it on CCF. I have a little birdy telling me a CCF member wants this :D
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Bedrock of the Community
United States
20753 Posts |
OK here is one more suggestion. Simply ask her how much she would like for that item. Then just give her that amount and keep that thing as a reminder of your Grandmother. Eventually she will be gone and such items as that are fantastic reminders of someone now gone.
I keep all the coins my Dad gave me as a kid for just that reason. Imagine in about 50 years a future relative showing this off and saying it once belonged to ............
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Replies: 15 / Views: 2,071 |
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Posted 07/29/2012 2:18 pm
