Surprising – and Valuable – Things You Can Find When Hunting for Precious Metals

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Written By Barry Lenson

You can find gold, silver and platinum objects in estate sales, in garage and yard sales, in old buildings, in your yard or on the beach – in lots of places. But there are other discoveries you can make when you are hunting for precious metals and precious metal scrap – discoveries that can dramatically increase the amount of money you can make from the objects you find. 

Here is a checklist of additional opportunities to make more money while you are hunting for gold, silver, and platinum.

Gemstones

This is a natural fit when hunting for precious metals. One example? A man who was using a metal detector on a beach found a platinum engagement ring in the sand. The platinum was worth about $60.00, but the diamond was worth more times that. The lesson is, don’t assume that the gemstones that are mounted in rings and other pieces of jewelry have little value. Some might be made of “paste” or glass, but more than you expect could be diamonds or other valuable stones. A quick trip to a reputable jeweler can tell you.

Collectible Items

Knives, forks, and other pieces of cutlery that contain only a few dollars’ worth of silver can double or triple in value if they were made by a famous silversmith. And then there was a Rolex Daytona watch that a collector snapped up for about $5,000 that turned out to be worth ten times that much because of its rarity and the fact that a famous athlete once owned it. So remember, collectible status can double or triple the value of items you find.

Historically Significant Items

A few years ago a man in New England found a box of old coins hidden in the wall of an old house. They were worth a few thousand dollars. But there was something else in the box too – a first edition book of poems by the American poet William Cullen Bryant, published in 1893. It was worth about $300.00. Instead of selling it, he donated it to a local museum and took a tax deduction for it as a charitable contribution. That’s another way to generate income from the discoveries you make.

“Bait and Switch” Discoveries

These are times when you discover that something you found is worth much more than you expected. And for hunters of gold scrap, silver scrap and platinum scrap, these happen all the time. There was a man who found an old piggy bank full of pennies; one of them turned out to be highly collectible. Also, one collector bought an old bracelet that she thought was costume jewelry; it was actually made of pure 18K gold. Another treasure hunter found a small silver pitcher that looked pretty ordinary; it turned out to have been made by a famous American silversmith named Jeremiah Dummer (1643-1718). The lesson is that an object that looks like it is worth $10.00 could be worth much more. To find someone who really knows, try contacting the Appraisers Association at  (212) 889-5404 and ask to be referred to an appraiser who specializes in tableware, jewelry, or whatever you are trying to valuate.

Are the Scrap Items You Have Found Worth Much More than they Appear to be Worth?

That is always a question that is worth asking.

Take some digital photos of what you have found and call our precious metal refiners at 800-426-2344. The advice we have given our customers over the years has dramatically increased the amount of money they have made when collecting gold, silver, platinum, and other items. We can help you realize much more money from your investment in precious metals too. 

Barry Lenson
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