Expert: Neil S Berman - 6/16/2008

Question
QUESTION: Hey Neil,

I have a 1928 $20 American Saint Gaudens gold coin, however it was made into a necklace over 30 years ago. There is a gold piece attached to the top of the coin for the necklace to loop through - but the actual gold coin is not damaged in any way and is in perfect condition.

I assume because the coin was changed into a necklace, the value of the actual coin goes down as the coin has been slightly altered with the attached gold piece.

Having said that, what would the actual coin be worth without the attachment and in perfect condition and what would the loss in value potentially be (without you actually seeing the coin) by having the coin altered into a necklace despite perfect condition of the coin?

Thank you for your time,

Adan

ANSWER: If the coin has been hanging in a necklace, the odds that it is still in perfect condition after all these years are zero. But with that said, if it were "perfect" as defined by a professional coin grader it would be worth $1900 or so. Once the coin has been soldered anywhere, the coin becomes 21kt scrap metal, or about $800.

---------- FOLLOW-UP ----------

QUESTION: Thanks for responding. Even though it was turned into a necklace, I am not even sure it was ever worn hence the reason why I said perfect condition. But like you said - a professional would have to truly determine that.

In addition, yes there is a gold piece soldered onto the top of the coin, however it is done so in a way that looks removable with little damage to the coin if it was removed by a professional. If this was the case, would your estimation of about $800 still be accurate.

I am not sure if this is this case, but as a piece of jewelery - I assume that there is value in the coin if the additional piece added is solid gold and the necklace looped through is gold as well. Strictly speaking in a gold capacity, there surely must be value there even though the coin has been soldered.

Thanks again,


Answer
The coin is worth whatever it will melt for. If the loop is gold, you might add $5.00, but in any case, the coin once soldered, even if it is flawless otherwise, is worthless to a coin collector and can't be repaired in any way that would increase its value. Sorry.