Converting gold coins into jewellery - is it worth ?

[DanTer]

Hi

I am new to metals so one on those newbie questions:

Just wondering if this is a good idea to convert some small gold coins into earrings or necklace ?

Main point is - can this decrease the value of the coin/gold in them by any chance ?

Also what would be approx price to make pair of earrings from lets say 2 half sovs by goldsmith in UK ?

Thanks in advance

 

[Guybrush]

Sorry I cannot give you a direct answer but its something I've been researching myself for some time.

jewellery is much easier to carry around without thinking about it.  I've researched melting into jewellery and the cost of it.  I think jewellery certainly has a premium upwards of 2 * spot and more in some cases.

I had a ring repaired last year and it wasn't cheap, over £500 to repair the ring and mount a new diamond.

The only real answer I can give is that it will not devalue the gold in a coin, if anything melted into jewellery (Chains I researched specifically) then its worth more.

One thing to note though, if its not hallmarked I dont think the premium is there and as a store of value that hallmark with gold is going to be what makes it store value.

Just some thoughts, I want to get myself some 22ct chains but they are not actually all that common and the premiums are so high I would always rather just buy a gold brit.

[MrTT]

Dont do it, is my advice. 🤠

[DanTer]

I was not thinking about melting , more likely about to attach something to the coins by soldering etc  to make them a earring or necklace  as per pics.

 

[KRO]

bad move to massacre coins imo

from Chards website
If you are selling gold coins that have been used in jewellery we can often only offer scrap prices as they cannot be resold as bullion. If your coins are very damaged, we may also not be able to offer better than scrap prices. 

[Roy]

Mounting a coin or soldering anything to a coin will lose its premium but it will still be worth its weight.

Choose a coin with little or no premium to begin with and you're only adding the labour to the finished product.

Personally, I think a half sov is too big for earrings and would go for 1/20-25oz coins at c14mm, like the Dos Pesos etc.

e.g.

People have been wearing sovereign necklaces and rings for possibly 200 years 😀

[DanTer]

2 minutes ago, Roy said:

 1/25oz coins at c14mm, 

 

yes , those I was the type of coins I was thinking about , half sovs are to big 

[Roy]

@ilovesilverireallydo is usually your best bet.

I bought a modified Dos Pesos from him recently. Low premium 😀.

Our @1817Karl had earrings and necklaces too, look back through the sales threads.

@GoldBenj was the go-to-lad for jewellery but he's not here so often now.

[sixgun]

My mother inherited a sovereign on a chain. The sovereign is inside a transparent case - like a capsule. The case is as old as the 1910 sovereign - my great grandfather gave these as new coins to his daughters as presents and my mum got handed down one of them.
The sovereign looks fine on the chain and can be removed without any damage to the coin.

[ilovesilverireallydo]

You get special coin mounts that won’t damage the coins. But you will lower the coin value if you solder it. We scrap more than half ex jewellery coins as not worth selling. 

[Midasfrog]

A hundred years ago I would have said that your onto a best seller but in 2020 I dont think there is anyone that would buy this type of jewellery 🙈

[Foster88]

12 hours ago, DanTer said:

Hi

I am new to metals so one on those newbie questions:

Just wondering if this is a good idea to convert some small gold coins into earrings or necklace ?

Main point is - can this decrease the value of the coin/gold in them by any chance ?

Also what would be approx price to make pair of earrings from lets say 2 half sovs by goldsmith in UK ?

Thanks in advance

 

I don’t know anyone who’s worn a sovereign ring since the 90’s.

Its not advisable. Leave them as they are.

[Cooldaddyfunk286]

Im in the process of putting this together. Nothing crazy, but very classy. The rope bezel is a mm thicker than the chain, it's gonna be perfect. I took this chain off my dead father's neck, heart monitor still flat lining, I haven't removed it for 16 years. Ever. I'm also having a double lock clasp put on and they are rebuilding my dad's original charm for me, a 1/20 oz 24k round, also in a 14k bezel. It's a theme kinda...

 

[PercyItsGreen]

The old style sovereign bracelets and chains are nice but often a bit dated especially the bar style bracelets and big rings. I got this one made from a few bits and pieces and it matches great with any outfit. Try something a bit different.

[HighlandTiger]

On 05/09/2020 at 02:28, Foster88 said:

I don’t know anyone who’s worn a sovereign ring since the 90’s.

Its not advisable. Leave them as they are.

My cash for gold guy cant get enough of them, He has a massive waiting list for sovereign rings, and they are sold as soon as he gets them.

Nearly 1800 auctions for "sovereign rings" on ebay currently, and 600+ completed sales in the last three months seem to indicate that sovereign rings and lookalikes, still have a dedicated customer base.

The traveller community are big buyers of these rings as well.

 

[DarkChameleon]

24 minutes ago, HighlandTiger said:

My cash for gold guy cant get enough of them, He has a massive waiting list for sovereign rings, and they are sold as soon as he gets them.

Nearly 1800 auctions for "sovereign rings" on ebay currently, and 600+ completed sales in the last three months seem to indicate that sovereign rings and lookalikes, still have a dedicated customer base.

The traveller community are big buyers of these rings as well.

 

I still have mine from 85, i got the largest size they had formy little finger...ihave more old gold jewelry then my wife.