Jewelry and Coin Appraisals

Grand Rapids Coins is pleased to announce that we will enjoy meeting with customers by appointment at our new office, conveniently located at 5960 Tahoe Drive, SE, Grand Rapids, MI 49546.

From I-96, take 28th street exit 43B. Go east past Kraft Ave (and Meijer and Panera Bread). Turn right at the next light, Charlevoix Ave., then left on Tahoe Drive. Our office is located about 3 minutes (1 mile) from the highway exit. Click here to get directions.

Selling your collections and gold/silver jewelry can be lucrative.

Unlocking value from personal coin and jewelry collections is easy to do…if you are armed with the facts, and deal with a reputable gold/silver buyer. Grand Rapids Coins will provide a professional evaluation of your collection, offer options for selling your collection, or purchase your coins and jewelry on the spot. Due to our numismatic expertise and low overhead costs, we strive to offer the best possible prices for gold and silver.

Call Grand Rapids Coins or submit the quick form on the right.  All information will be held in the strictest confidence.

What makes a coin valuable?

Several important factors must be considered when placing a value on your coins and collection.

The single biggest mistake: Your collection will instantly be worth much less if the coins have been cleaned in any way! Please do not clean them!

Gold and silver content : Regardless of condition, Gold and Silver coins are worth a significant premium above face value. Nice uncirculated gold and silver coins often sell for premiums much higher than gold or silver content value. Silver dimes, quarter, half dollars and silver dollars 1964 and early are 90% pure silver. Kennedy half dollars from 1965-1970 are 40% pure silver.

• Specific dates and mint marks : Age is not necessarily an indicator of value, but some specific dates are much rarer and move valuable than others. For example, an 1879-S Morgan Dollar is worth $24 in very good condition but an 1893-S Morgan Dollar in very good condition is worth nearly $2,000.
  
  

• Demand. Like all collectibles, demand for all types of coins varies with the collectors who seek them.
  
  

• Condition. Original, unaltered, uncleaned coins in good condition will always be worth more than cleaned, poorly kept coins.
  
  

• Eye Appeal. Luster, brightness, and toning may all contribute to enhanced value.
  
  

• Varieties, Errors, Mistakes. The coin world is full of exciting oddities. Some are rare and highly desirable. You may
  have one.

The Facts About Selling Gold and Silver Jewelry

• Prices paid by buyers fluctuate with the spot price—the price per ounce of gold (or silver) on the commodities market. Like all commodities, spot prices vary wildly day-to-day, and even minute-by-minute. Accordingly, prices paid by buyers fluctuate with gold and silver prices. Today’s quote is not valid tomorrow.
  
  
• Gold jewelry comes in various karat weights…10K, 14K, 18K, and 22K. Pure gold is 24K but rarely found in jewelry. Karat weight refers to the amount of gold in a particular item. Example, 10K is 10/24 gold or 41.66% gold. So, 1 ounce of 10K gold equals .4166 ounces of pure gold.
  
  
• Various factors affect prices paid for jewelry: changing commodity prices, impurities, refining costs, buyer fees, and the risk of counterfeit jewelry. Reputable gold jewelry buyers normally pay 78%-88% of the current spot price, depending on the volume and type of jewelry. Buyers at traveling hotel shows and gold-buying retail stores typically pay only 50-70% of the spot price.
  
  
• Sterling silver jewelry has 92.5% purity. Reputable silver buyers usually pay 78%-88% of the spot price.
  
  
• Due to risks related to stolen merchandise, sellers need to provide two forms of identification and be thumb printed.
  
  
• Per government regulation, 1099 tax forms (and homeland security anti-terrorism forms) must be issued for all sales in excess of $10,000