Engelhard 1987 Vintage 1/10 American Prospector Coin [999.9 Fine Gold]/gold nugget ring [NOT SILVER]

I'm the original owner of this ring since 1987. I've not worn it in YEARS and while I like the ring, I just can't stand the fact it sits in my safe without anyone appreciating it. I cannot find another coin ring like it ANYWHERE else other than one listed that has diamonds surrounding it. It has been worn some [years ago]. It has very light scratches on the face of the coin but the flip side [pun intended] with the eagle- looks like new. Also the four "ears" of the coin holder have not been crimped into the coin. So the coin is able to move ever so slightly in the setting.




I've seen TONS of Engelhard silver rounds which seem to be very popular but other than one 1985 vintage fine gold Engelhard round surrounded by what looked like diamond dust, I have not seen any for sale elsewhere. I took the ring to a jeweler and he offered me 90% of spot but said he personally thought a collector would want a shot at it before he turned it into liquid mush. I agree with him as well. So here I am. The coin is 1/10ounce 999.9 yellow gold [NOT SILVER]. The nugget ring is 14kt yellow gold [NOT SILVER]. So I have two questions; what do you think it is worth and secondly what would be the suggested minimum starting bid [or reserve] if I were to put it on an auction site. I'm very interested to see what you all have to say.

I want to be fair to myself and to a potential buyer. I'd prefer it go to someone that was not going to melt it down. Thanks in advance for your help.

 

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weigh it first

 

0.390ozt/7.8DWT [Total weight of round and ring on a calibrated scale]

So round 0.10ozt/2.0DTW [24kt] and nugget ring 0.290ozt/5.8DTW [14kt]?

 

Post removed!

The purpose of this forum section is to discuss 'worth' , not to try and buy or sale which must be in the advertising section after 10 posts. Please honor the forum rules. Jim

 

Anyone?

 

Based on the weight you provided the intrinsic value of your ring at a spot price of $1,280.80 is $346.09. That would be your minimum opening bid on any auction site.

If you were to list it on a site such as Craigslist you might want to add about 20 - 25% to the melt value. By pricing it that much over melt value the chances someone will buy it to scrap are reduced.

Moderators, this is NOT an offer to buy. I just answered his questions about value and how much to price it at.

 

Ed, that is the purpose of this subforum. It is those that post "pm me" , " I will pay....", or the originators who say " how much will you give me for..." that violate the rules. Thanks, Jim

 

Ed,

Thank you so much for your response. I'd been thinking myself that the best way to ensure that it wouldn't get melted down [other than not selling it at all] would be to price it above spot. I assume that if the prices skyrocketed again it might be tempting for someone to do so but I suppose that is the chance I would have to take if I sold it.

Back to the question of worth, I assume that the worth of all coins, etc. depends on not just the spot price but also the rarity. Did you have any firsthand knowledge about that or know where I could go to find it? I've searched all over the internet and can't find any information regarding the number minted, etc. Is there a coin collector's buying guide that might have it in there? Thanks.

 

I do not recall there ever being a price guide for the type of coin in this ring. There was a book published years ago about silver art bars but I have not seen one in a very long time. It is possible if you took it to a larger coin show one of the estate jewelry dealers may offer more than melt but in today's market it is unlikely. This ring will be hard to sell for much of a premium over melt unless you get lucky and find that one person who just has to have it.

 

Ed,

Thanks so much for that additional information. I suppose, I just need to decide if I'm willing to let it go "fend for itself" or just keep it. I've got a clear picture of the type of individual that would want it for more than meltdown value so you've given me some things to think about with pricing if I decide to sell it. THANKS!!!

 

You are welcome.

 

There's a huge markup on jewelry at retail. Just over 40%.

Full retail for something like that I expect to see is in the neighborhood of...
Ball parking this.
$320 for the ring mount melt for 9 grams.
Somewhere around $220 for the coin I guess.

$540 meltish, with a 40% markup. I say it should be priced around $900 if sold retail at a jewelry store, give or take $50 either way for how they set their markup. It been used and 2nd hand, maybe knock off $100 to someone that's interested and on the fence and pinpointing issues like a scratch or something.

I'd say $800 would only attract people looking for jewelry to wear and keep, and deter melter interest. And if a jewelery store bought it they'd only be paying it's melt value really regardless of what they decide to do with it after they buy it.

People that buy jewelery expect it to be priced right, if it's cheap they will think it's cheap and fishy also. You're better off pricing high and letting interested people in the item haggle you down 5-10% and walking away thinking they got a great deal than pricing low.

That's the game and why mark up is usually above 40% over the raw material values.

Otherwise Ed is right. Above melt you would be waiting for that "certain buyer" that has to have that piece after seeing it, Also part of the jewelery game.

 

FYI this site doesn't list a 1987 in a 1/10th oz.. you might want to dig a little deeper into this round.

https://allengelhard.com/definitive-pages/au-all-examples/

it might be they've never seen one to archive, or it might be some other reason why you can't find information on it., it doesn't help that it's been removed from the assay card though. I don't find any info on a 1987 1/10 oz whatsoever.

Might even want to reach out to them and ask if they produced 10th oz in 1987, and if they had any mintage details on it, I can find 1 oz. easily, and half oz. with some work searching that year and design on the internet, but nothing lower than those two for 1987.

1987 was a rare date for that series, and I think the end of it,so information on them is slim, they only made like less than 2500 of the 1 oz, and less than 1000 of the half oz. The PAMP bars were running the market at the time and demand trickled off for the prospector rounds by 1985-1986. comparing it to the mintages of the 1 oz, 1983-84-85, it fell off drastically in 1985, and even lower in 1987, 1987 I think was the last year for the gold prospectors.

 

The op hasn't been on in 7 years

And.

 

Damn necros!!!!! Saw it pop up and saw the newest comments and didn't even look back at the OP date

om the bright side, it makes me want to research the 1987 1/10 oz gold prospector now. LOL

 

And that was the OP's first and only post.