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Gorham Mint 13 Colonies

 
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Author Previous TopicReplies: 11 / Views: 471Next Topic  
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 Posted 10/19/2020  1:51 pm Show Profile   Bookmark this topic Add Becki67 to your friends list Get a Link to this Message
Hello...I recently discovered a chest of coins and medals in the basement that were left by my late boyfriend. He passed away 3 years ago. His grandfather and father collected them. There are multiple proof sets, multiple ingot sets, and tons of different coins. I literally found a treasure chest, I think.

The one thing in particular that is very interesting to me is this set by Gorham Mint of the 13 colonies. The medals are gorgeous.

I can't find a lot on internet about them, though. Can anyone tell me anything about them.

Here are some pictures.




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 Posted 10/19/2020  3:03 pm  Show Profile   Bookmark this reply Add Becki67 to your friends list Get a Link to this Reply
Thank you! I anticipate having a LOT of questions! :-)
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 Posted 10/19/2020  6:27 pm  Show Profile   Bookmark this reply Add Gincoin43 to your friends list Get a Link to this Reply
I think there are two set, one in sterling. The seem to have been minted in 1974. There might also be an edition number on the inside of the lid, bottom right. Coin feature Benjamin Franklin - Pennsylvania, Nathaniel Greene - Rhode Island, Nathan Hale - Connecticut, Alexander Hamilton - New York, Charles Carroll - Maryland, Thomas Jefferson - Virginia, John Adams - Massachusetts, William Whipple - New Hampshire, Edward Rutledge - South Carolina, William Hooper - North Carolina, Lyman Hall - Georgia, John Witherspoon - New Jersey, Caesar Rodney - Delaware.
Edited by Gincoin43
10/19/2020 6:27 pm
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 Posted 10/19/2020  7:13 pm  Show Profile   Bookmark this reply Add Becki67 to your friends list Get a Link to this Reply
It says 1789/5000...is that the edition number?
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 Posted 10/19/2020  7:18 pm  Show Profile   Bookmark this reply Add Gincoin43 to your friends list Get a Link to this Reply
Yes
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 Posted 10/19/2020  7:22 pm  Show Profile   Bookmark this reply Add jimbucks to your friends list Get a Link to this Reply
Usually medals like this are not collectible and worth slightly less than their melt value if made of silver. If they are a base metal such as pewter then value is nil. You can check the internet to see if there is any demand.
Edited by jimbucks
10/19/2020 7:25 pm
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 Posted 10/19/2020  10:55 pm  Show Profile   Bookmark this reply Add commems to your friends list Get a Link to this Reply
Your set of medals was issued by The Gorham Mint/Gorham Manufacturing Co. back in 1976. They make up what was referred to as The Liberty Memorial Collection. As you've seen, the set features commemorative medals representing each of the original 13 colonies. The maximum mintage for the collection was stated as 5,000, but I have never seen a final mintage for the set. Note: Final production figures for many medal sets sold during the bicentennial are lower than their advertised maximum mintage.

The set of 13 medals was sold with the display box/case you've shown, plus a booklet. (Does your set still have the booklet?) The medals were not encapsulated, just inserted into holes in the case. I've read that each medal weighs ~27.5 grams. If that's accurate, you would multiply that figure by 0.925 (since they are sterling silver) and divide the result by 31.103 (grams in a troy ounce) to get 0.82 troy ounce of silver per medal; the set of 13 would therefore contain about 10.66 troy ounces of silver. That would put the melt value of each medal at ~$20.00 (silver spot price of $24.41). As you have access to the medals, I would suggest weighing them yourself and then doing the math I've outlined if you get a different starting weight - I've read that the weights do vary slightly from medal to medal.

The recent run up in the spot price of silver has changed the market for these medals. About a year ago, one of the complete sets was sold for $250.00 plus $5.00 shipping - silver was under $15.00 per ounce at the time. There was a set recently listed on eBay at $477.00 - quite a price jump! Individual medals are being listed for over $20.00.

The comment above notwithstanding, your Gorham medal set is very collectible and it would sell for a premium over its melt value in most situations. One time it wouldn't would be if you brought the set to a coin dealer who does not do much business in medals. Such a dealer will typically offer less than melt value for the set as he/she would anticipate having difficulty selling it and/or might simply plan to send it off to a smelter.

If you look to sell the set, a direct collector-to-collector approach would be best in order to maximize your sale price - eBay is certainly one option.

Hope all that helps!

Collecting history one coin or medal at a time! (c) commems. All rights reserved.
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 Posted 10/20/2020  11:22 am  Show Profile   Bookmark this reply Add Becki67 to your friends list Get a Link to this Reply
Thank you for that information. I will go down and see if there's a book in the chest. Most of the other sets I have do come with the book. Yesterday, I saw a posting for one at $699. That is a very big jump.

Is there a better option than ebay to sell them? I just don't like using that site very much.
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 Posted 10/20/2020  5:19 pm  Show Profile   Bookmark this reply Add oriole to your friends list Get a Link to this Reply

Quote:
Is there a better option than ebay to sell them? I just don't like using that site very much.


When you have enough posts you can try to sell it here. eBay is a bigger market, although not so friendly as we are.

I don't know if there is much demand here on the CCF for medals. Medals are a much thinner market than coins.

I do collect the occasional silver medal, but I am very reluctant to pay more than melt for them.
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