Posted 11 years ago
rcgems
(1 item)
I am a jeweler and one of the functions asa jeweler is buying gold and silver items. This item came to me by that way. I bought it for scrap because I had no idea what this was. I spoke to a much more knowledgeable friend of mine and he told me more than I needed to know. This is a service metal for a retired foreman for Rumsey Protectives in Seneca Falls NY. I contacted the historically society and they was kind enough to send me some copies from the news paper from when William T Smith was promoted and I got a company picture of him. The award is constructed of 14k gold. There is an inscription on the back. This is a photo of the medal as I got it. It has been repaired and polished but I lack current photos.
I hate to think that items such as this are getting scraped. I got my start collecting gold medals during the gold rush of the late 1970's just to save some medals from the melting pot. If worst comes to worst I would advise that you put this on ebay with a minimum bid of gold value plus 25%.
It unfortunate but I did work for a place that scraped everything that was not jewelry. I walk out and went to lunch over two pocket watches. I refused to gut them for the gold. I did manage to save one pocket watch that was a Patek Phillppe. I would say that 90% of vintage jewelry was destroyed to get to the value if the gold. I am sure that I ripped apart atleast a 100 vintage cameos. They may have been worth $300 but it had to come apart to figure out there was $80 worth if gold. Ever seen a real gold medal for winning a race? I did and we melted a dozen of then from the 1920's. They would keep the modern jewelry to put back in the case as new jewelry. In one year they purchase between 10-12 million in scrap gold. I would say they bought 10,000 ounces of gold a year.
I'm not worried about selling it. I have a standing offer of $1000
It is ashame to think of all the quality items that were scrapped for gold and silver content. It does make those that survived all the more valuable and unusual.
I am a trench art collector-- most typically items made from brass artillery shells. During WW2 a lot of it was patriotically destroyed to support the war effort during drives for brass and other metals in constant need.
Even to this day, trench art finds it way to the scrap yard!
Glad you were able to save this unusual item.
scott
Scrap yards are in the business to make money. If you have a scrap yard close to you that you can work with, tell them you will pay them double the scrap price. I always have a running wishlist from clients looking for items that I try to sell all the items I can before it goes to the refiner.