Are Your Parents Going to a Nursing Home? Here Are the Best Strategies for Dealing with their Jewelry

Are Your Parents Going to a Nursing Home? Here Are the Best Strategies for Dealing with their Jewelry

If you have an elderly relative who is about to enter a nursing home or assisted living, chances are you are already working with a counselor who is helping you deal with their financial assets. Today’s post is not meant to serve as a substitute for the expert advice you can get from those counselors, who know the ins and outs of Medicare and other factors that can impact on financial planning for elders.

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A Guide to Investing in Liquor Flasks

A Guide to Investing in Liquor Flasks

If you’ve spent any time poking around antique stores, estate sales, or online, you already know that liquor flasks are not hard to find. That must be because in years past, many “gentlemen” and “gentlewomen” carried them on their persons, along with pocket watches, pocket knives, silver toothpicks, combs and other accessories that have gone out of vogue today.

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Why Watching Downton Abbey Can Help You Make Money in Precious Metals

Why Watching Downton Abbey Can Help You Make Money in Precious Metals

Watching Downton Abbey can alert you to all kinds of antique precious-metal items that you can find if you’re shopping online, at antique stores, at estate sales . . . just about everywhere old metal items can be found. Here’s a checklist of items that we noticed during just one episode of the show...

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How to Buy Underpriced Silver at Estate and Home Sales

How to Buy Underpriced Silver at Estate and Home Sales

Experienced silver-hunters tell us that they find much more silver at home sales than they find in antique malls, where everything has been picked over by antique dealers or estate sale specialists. If you’re lucky, you may stumble onto entire boxed sets of sterling silver tableware – you might even find an heirloom set of Old English silver.

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How to Tell the Difference Between Silver, White Gold and Platinum

How to Tell the Difference Between Silver, White Gold and Platinum

If you go shopping at antique malls or estate sales, you will discover a number of items for sale that are made of gray metal. How can you tell if they are made of silver, white gold or platinum?

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What Are Your Collectable Medals Worth?

When a medal sold for $1.47 million last year, lots of people started to dust off their medals and look at them with renewed interest. Granted, that medal was something unbelievably special. It was one of the four gold medals won by Jesse Owens at the 1936 Olympics in Berlin. (Kind of takes your breath away, doesn’t it?)

If you own a commemorative medal – or maybe a quantity of them - how much value do you have in hand? It depends, because the value of medals depends on several factors.

Commemorative medals like those in this picture may have more value as collector's items... but older medals frequently contain more precious metals, too.

Commemorative medals like those in this picture may have more value as collector's items... but older medals frequently contain more precious metals, too.

The Collectable Worth

The value of a commemorative medal is affected by a number of factors that include age, country of origin, rarity, and the history of the person or event honored by the medal. (This could be harder to determine, especially if you obtained the medals at an estate sale, garage sale or antique dealer.) How can you research those variables? Here are resources to use . . .

  • Contact an independent appraiser or expert. These organizations can help you connect with one: The American Numismatic Society; the American Numismatic Association; the Token and Medal Society. Note that it is wisest not to get your medals appraised by a dealer who then buys them; if dishonest, he or she could be lowballing you and stealing dollars right out of your pocket.
  • Research the sales of similar or identical medals at auctions. You can start out by checking previous or current sales of similar medals on eBay. Another option is to visit the websites of auction houses that regularly hold auctions of medals and medallic art. They include: Bonhams; Christies; and Spink.

The Value of the Metals that Your Medals Contain

If your medal(s) do not have high collectable value, your next step is to determine the metals that they are made of.

How can you tell? Sometimes it is easy. Jesse Owens’s gold medal was made of real gold, of course. And silver and bronze medals are often (but not always) made of those metals too. Sometimes, commemorative medals will come with documentation that spells out exactly which metals they contain, especially if they are military medals.

Short of such clear signals, it can be difficult to know the makeup of the medals that you own. There are variables, including country of origin and age. In general, newer commemoratives – especially those manufactured in large quantities over the last few years – are apt to contain lower quantities of precious metals than are older medals that were issued in small editions.

If you are trying to determine the value of the metals in a batch of commemorative medals, your wisest strategy is to contact a qualified precious metals recycler or refiner, like Specialty Metals Smelters & Refiners.

To Summarize Your Steps . . .

To sum up the advice in today’s post, your first step is to establish the collectible value of your medals. Then, if they do not have high value to collectors, you should determine the value of the precious metals that they contain. For that, you need the services of a top precious metals refinery like Specialty Metals Smelters & Refiners. Call us at 800-426-2344 to learn more.

Related Posts:

There Could Be More Gold in Old Commemoratives and Trophies than You Think
Don’t Let Precious Metals Slip through Your Fingers when You’re Liquidating an Estate
Scams to Avoid when Selling Precious Metals
Recycling Gold Filled Scrap - Big Dollars Could Be Hiding in Small Items
An Invitation to Jewelers, Pawnbrokers and Other Jewelry Professionals to Partner with Our Precious Metals Refinery