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HELLO AND QUESTION FROM A NEWBIE
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Hello everyone! I Googled "gold coin forum" and well, here I am.
My old boyfriend gave me a one-ounce gold Maple Leaf a couple years ago that I had the jeweler drill a little hole at the top for a chain so I could wear it as a necklace. The jeweler tried to sell me a very expensive gold holder similar to the one in the attached photo. The hole drilling and chain loop cost me only $10. Women give me many compliments but a few men lecture that drilling a hole in it was blasphemy. This type of man usually ends up asking me for a date for some reason. In any event, this gold coin necklace is a great ice-breaker in starting conversations. Just leaving the undrilled Maple Leaf in my jeweley chest made no sense. Why have it? I met my present boyfriend at an Awards Dinner last year while wearing it and he is a gold bug. He refuses to give his opinion on this matter so as not to offend. Wise man. Two questions for this forum: 1 - Is drilling a hole in a gold coin really blasphemy? 2 - Will perspiration and body lotion from my skin stain a gold coin? :rose: |
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Drilling blasphemy? I don't think so, as you said, it made no sense to have it sitting in a box somewhere.
I have lots of gold just sitting somewhere without drilled holes but it makes sense to me. NOTHING can tarnish gold -- NOTHING |
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Hello Isabel! Welcome to GIM!
Yes, generally, drilling a gold coin is bad, if you will someday be selling the coin. But, since you are wearing this as jewelry, seem to have every intention of keeping it, and you enjoy wearing it as-is, I wouldn't worry about it too much. And perspiration won't stain it. |
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Hey, Isabel:
Welcome to GIM. This is a fun place to learn. About your question, I am a numismatist, so drilling holes or defacing coins is a MAJOR no no. I have coins that I only handle with cotton gloves. That being said, I do have gold and silver coins that are meant to be handled, carried around in my pocket and shown to friends and family. I would see your gold maple as your show piece. Be proud of it, but realize that with the hole, you will get less than spot price if you sell it. Your second question regarding skin oils and body lotions, do not worry about them. If the maple becomes discolored, use your jewelry cleaning solution to remove any residues. I do not recommend this action for numismatic coins, but for a common piece of jewelry that is for show, it is okay. Lastly, continue to have fun with the maple. Which side do you show, the maple leaf or the clown. . .err. . .I mean the queen. The Great Ag |
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BTW, what are you doing Friday night? |
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1. Not really. I don't like to see it, but bullion is bullion, Maples are not numismatic coins. Lots of them get melted down for use by jewellers. Since you probably don't intend to sell it, the value that has been removed is a moot point.
2. No. 24K gold is chemically non-reactive, unlike alloyed golds which contain other metals that may react to oils and sweat. |
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Drilling did lower the value of the coin but that would only be important if you intend to sell.
Here is a necklace that I made for my wife using a French "Luck Angel" coin. http://i185.photobucket.com/albums/x...luckyangel.jpg |
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The hold is an area now void of pure gold. What happened to the gold that was drilled out? Bet the jewelry didn't sweep it into the trash can. Fact is that you paid $10.00 plus the value of the gold that used to fill the hold area. Let's see....at the current gold spot of US$785.00 per ounce, how much was the pure gold worth that was drilled out of the coin?
Answer....ask the jeweler who drilled it to weigh it and do the math re value. |
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Wellcom to GIM Isabel
Your gold necklace coin looks very beautiful, Its a keeper :wink: Just remember it's gift from someone else's heart to your's. Hay TomD, that gold frenchy coin took my breath away :applause_ |
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Welcome to the forum!
1) It's not blasphemy... Okay, I lied. It's blasphemy! :D At any rate, it would make most of us cringe! At least it was a gold Maple Leaf. Had it been, say, a 1-oz. gold Australian lunar dragon, you would probably hear much more wailing and gnashing of teeth. Seriously, though, you did devalue the coin, but so what? If you're not planning to sell it, no big deal. At this point, it's only worth the weight of the gold if you sell it, which, given the way gold has gone up in the past couple of years, is still pretty good! Enjoy it! 2) The gold is safe. It might need cleaning eventually. If it were a numismatic piece, that wouldn't be a good thing, but since it already has a hole drilled in it, it doesn't matter. |
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.....kidding.....I kid!.......:rolleyes_m: Welcome. This forum needs more women, the male members seem to be on their best behavior when more women are around. And we've all been very cranky lately..... ......teetering on the brink of total financial collapse tends to make people a touch irritible.:wink: Oh yeah, nice Maple. You know they make a .99999 Pure one now?? That's right......5 9's. Nice. |
Re: HELLO AND QUESTION FROM A NEWBIE
Isabel welcome to the forum. Basically you transformed the coin from having a value greater than spot to having a value less than spot (scrap). It is not a big deal, I have many coins I wear but I spend the extra money on coin bezels.
http://i49.photobucket.com/albums/f2...y/DSC00398.jpg |
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Every woman who reads that envies your wife for many reasons Tom. Stunning image! Quote:
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Thank you all for your comments and advice! :rose: |
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Isabel a 14K coin bezel for a 1 ounce coin will cost from $75-$100.
I paid $89 for the bezel holding the 50 peso coin in the picture and I bought it from this place: http://www.findingking.com Just search on bezels....He has good prices. Just make sure you get a bezel with the screw top as opposed to the ones that have some thing in back holding the coin in place. All the best. |
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Welcome, nice to see another gold bugette here!
Maybe you could get the new gold bug to give you gold too? I think a nice french rooster or sovereign coin charm bracelet would go well with the necklace. Maybe a pair of pamp suisse "Gold Dream" or Aussie Orianas 2 1/2 gram earings too? EE |
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Welcome Isabel. But you look like a Donna to me.
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You didn't want to buy a "very expensive" coin holder, but you would buy a bezel for $75? You should have purchased the holder, IMO.
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I'm sure one of the lower levels of Dante's Inferno are reserved for those who drill holes in gold coins. Don't do it! No, no, no!!!!!!!!!!:shocked_ma:
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The reason why I chose to drill the coin is because my jeweler wanted $200 for his bezel. We see now, thanks to Foolsgold, that a gold bezel costs much less and can be attached using a little screwdriver. Thank you so much Foolsgold! |
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Why was Isabel banned?
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