Don’t Ignore the Collectible Value of the Precious Metals You Own

Recycle and Refine GoldRecycle Precious MetalsRecycling and Refining
Written By Barry Lenson

In January 2021, a gold coin that bore the image of Oliver Cromwell sold at a British auction for about $650,000.00. How much gold did it contain? We are not certain, but chances are the gold in the coin was worth only a fraction of what the coin sold for.

Why did that coin command such a high price? There are reasons . . .

  • It was rare

  • There is a high demand for coins that show the image of Cromwell

  • It was in near-perfect condition

  • Its value will almost certainly increase in the years ahead

Those factors added up, with the result that the coin was highly collectible . . . and extremely valuable.

What Does Collectability Mean for Your Precious Metal Investments? 

After reading the story of the Cromwell coin, you might be saying, “Why should I care about this story . . . after all, I am never going to be investing in rare coins that valuable.”

But you should be thinking about the collectible value of the precious metal items you find. And when you call us at 800-426-2344 to discuss recycling your precious metals, you can be sure it is a topic we are going to bring up during our discussion. Because the fact is, many precious metal items have a collectible value that is greater than the value of the gold, silver, platinum, and other metals they contain.

And that can happen with items that are worthless – often much less than the value of that $650,000 Cromwell coin.

Here are some examples that illustrate the point . . .  

  • A man bought a high school class ring at a yard sale. It contained only about $35.00 worth of gold, but he was able to sell it on eBay to a man who graduated from the high school in question, who paid $100.00 for it.  

  • A man who liked to buy sports awards and trophies bought a trophy that was awarded in a hockey tournament in 1948. The silver in his trophy was only worth about $5.00, but a man who collects hockey trophies paid him $50.00 for it because it was just the kind of trophy he loved to collect.

  • A woman inherited a 14K gold Rotary Club pin that dated from the 1950s. Because karat gold Rotary pins have become rare today, she contacted her local Rotary Club and was able to sell it for $95.00, which was about twice the value of the gold the pin contained.

The Message for Your Precious Metal Investing . . .

Don’t forget that precious metal items accrue value in two ways . . .

  • Because of the precious metals they contain

  • Because of their collectability

If you fail to consider the collectible side of the equation, you could sell precious metal items for less than they are worth . . . sometimes for much less. Also, be aware that if you drop into a precious metal refinery near you, there is a chance that you could end up receiving less than the collectible value of your metal items.

The answer? Call our precious metal advisors at 800-426-2344 and let’s discuss how you can receive the most money possible for the precious metals you own.

Barry Lenson
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