I saw on of those "coin rings" for sale online, one that just happened to have one of those large indian head gold dollars as it's centerpiece. Judging by the face, it was in sweet condition... AU for sure. I paid $160 for it and received it today. When I flipped the ring over to see about removing the coin, I notice a big bloody melt mark right in the center of the coin, obscuring part of the date... this was clearly done on purpose by some jeweller at some point. Now, I still came out with a good deal for the ring AS A RING, but I was really hoping to save the coin and it's a real shame to see such vandelism on a real beauty. I think the date is 1882, but I can't be sure... is this coin a complete write off? Do I just have a nice ring now? It might be hard to get some pics of the reverse but I'll see what I can do tomorrow.
I don't think that coin is a complete writeoff. It may have a place in a display where only the obverse is visible. $1 gold coins were very popular as jewelry pieces. Many of them had something soldered to their reverse essentially destroying their numismatic value. Remember that when the coins were turned into jewelry they were worth only $1 and made a very cool and affordable piece of gold jewelry.
aslanmia: A write off? I don't think so, but without the date, it would be difficult to convince anyone else.
other than the melt value of the coin, i dont think its worth squat. but thats just my opinion. i think you just have a nice ring now.
Without question, the real damage to this coin is the melting of the date. Honestly, I could live with just about anything else... Anyway, here are some pics. The reverse (or obverse really) was a little hard to get a good pic of: http://www3.nf.sympatico.ca/donna.penney/coins/RingA.jpg http://www3.nf.sympatico.ca/donna.penney/coins/RingB.jpg
if you were to take that coin out of the ring, you would have substantial damage to the circumfrance. I would leave it in the ring, becuase once you take it out and if it looks REAL bad, its too late to put it back the way it was. I would leave it as a ring.
If the date is melted off, its pretty much a compleat write off. If it only had a little dot that didnt remove date or lettering or even a few small flat spots on the edge then its worth less but still not a write off. Depending on the coin it worth from 75 to 50 % less.
hi. most coin jewelry should not be your source of collectible coins. it is worth its value in gold. they make some rings, necklaces, and even belt buckles, w/ bezels which wrap around the coin's rim to hold it. still not really collectible due to possible rim damage as well as accumulated damage thru actually wearing the coin. others, as it seems in your case , was spotwelded on w/ gold solder. unfortunately, even w/ a date it would be considered damaged. also, they have a tendency to polish coins used in gold jewelry. it is good as jewelry or as scrap gold, so not a total loss. steve
When it's stolen and you're sure that it won't be recovered, then it becomes a complete writeoff (on Schedule A of your 1040 when you do your taxes).
You may want to hold onto it for a little while. The price of gold is going up and if it breaks $1000 there might be enough frenzy and demand for a "genuine 1882 gold coin ring" on Ebay to bail you out.
It has always been my understanding that any coin that is use as jewelry, or better yet, if it has been altered, it looses most all or all of its numismatic value as a collectable. That does not mean it is worthless. Certainly $160.00 for a nice "gold" ring such as this one would get the attention of many a coin collector because of what it is and represents. NIce ring. I'd wouldn't mind have one myself.
Yes, it is a beautiful ring and the setting is 18k gold. I'm not sure of the purity of the gold coin, but based on the ring's weight I think I payed just a tad over bullion value for it. I think the ring is supposed to be a ladies ring (even though it looks quite manly), but it sure does make an awesome pinky ring! I'll probably just sit on it until gold hits $1500 an ounce, then sell.
Quite untrue. A coin does not have any gaurenteed value, but is still worth whatever someone is willing to pay for it. Of course, a damaged coin will certainly not sell for as much as an undamaged specimen will sell for, but it could still be worth at least a slight numismatic premium. If Aslanmia was sure that it was an 1882 and happened to find a collector working on a date set who was DESPERATE for that date, I'm sure that he can get at least a few more dollars.
