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Thread: Re-alloying sovereigns

  1. #1
    Join Date
    Feb 2021
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    3

    Default Re-alloying sovereigns

    Hi everyone

    I'm brand new to the forum so please let me know I've posted in the wrong area.

    I have a small shop that has recently opened (the timing I know!) stocking my own and other local jewellers work, but I really need some more gold pieces in my stock. Up until now gold work has mostly been done on commison.

    I want to make some 'affordable' gold engagement rings with some salvaged diamonds I have at the back of the safe, but don't really want to layout on the gold with everything going on.

    I also have some sovereigns I inherited and my plan was just to let them gather dust until I really needed some cash, however I've recently been thinking that would make quite a lot of 9ct gold realloyed down.

    I've no experience of doing anything like this, and none of the jewellers I know have either so I thought I'd try you guys.

    I've found an alloy list for sovereigns at their dates and am sure with a bit of maths and some googling I can work out what qualities of silver and copper to add to get the desired colour. I plan to aim for 10ct just to be on the safe side with assay, but before I go ahead and melting them down I want to know if there are any hints or tricks.

    Or should I just send them somewhere? Do the normal bullion dealers offer this and I've just never thought to ask? Not such an interesting process that way though

    Anyway many thanks in advance and sorry for the essay.

    Stephanie

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  2. #2
    Join Date
    Dec 2009
    Location
    Central London
    Posts
    8,238

    Default

    Hi there Steph. Buying gold coins us not an ideal way to buy gold, so I guess this will be a one off.
    It's not economically viable to buy in the extra tools needed for this, so unless you are in it for the adventure, I would suggest that you send the coins in to a bullion dealer, and use the proceeds to buy new gold, or whatever else you need.

    Cookson Gold will do it for you, and I suggest you phone them to find out more. https://www.cooksongold.com/ Dennis

  3. #3
    Join Date
    Feb 2021
    Posts
    3

    Default

    Thank you Dennis I will give them a phone on monday, my normal bullion dealers seemed to have started the weekend early today, and who can blame them at the moment!

    I have quite a comprehensive workshop setup (to my mind at least) but my melt jobs are limited to a crucible with a smiths little torch and casting tip. Are you suggesting this would be a job better undertaken with a furnace?

    I may well go down the bullion exchange route, but it is always interesting to know if the info is out there and someone's already tried it. I did manage to work out how to search the forum finally earlier, and found some old posts on realloying 24ct that had useful links so that all made for interesting reading. Very glad I've finally downloaded the app and can read through so many interesting topics

    Stephanie



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  4. #4
    Join Date
    Dec 2014
    Location
    South Australia
    Posts
    1,496

    Default

    Do some of research with coin dealers first, I can't speak for the UK, although in Australia the sovereigns would almost certainly be worth more than the gold value.

  5. #5
    Join Date
    Feb 2021
    Posts
    3

    Default

    Quote Originally Posted by china View Post
    Do some of research with coin dealers first, I can't speak for the UK, although in Australia the sovereigns would almost certainly be worth more than the gold value.
    Thanks China you are right, and its worth pointing out that you shouldn't melt something down without knowing what you have first.

    I actually qualified as a valuer (IRV) I believe you have an equivalent in Australia, and gemmologist (FGA, DGA) before truly embracing making, valuations for the trade are still a good proportion of my work and although mostly I'm valuing gem set jewellery I'm confident I've done my reseach value wise.

    For anyone interested:
    None that I'm considering melting are collectable editions and all early 1900's. I would get slightly more at resale to the trade than the equivalent gold, however still slightly less than casting grain would cost new. But they would cost more if I were to replace them with brand new ones. These were purchased several years ago by my dad at something like 5% over what the bullion dealers were paying. I was working in a shop that bought a lot of gold across the counter and my boss was happy to get a quick turnaround on a few and make a bit more than if he sent them off to his bullion dealer. They've already made a fair bit sat in the safe so I will not be melting something that hasnt yet made a return. Of course they may increase (or decrease) again tomorrow and there are some other considerations with our taxes and perhaps selling privately or through auction. Its a good example of the nuances of valuing and differences between New Replacement, Secondhand replacement and resale.

    I'm just exploring the option of reusing as even if not used for stock I would like to make a piece for myself for experimental reasons and a bit of sentimentality.

    Sent from my SM-G998B using Tapatalk

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