That old gold necklace or silver coin could be worth something, but there are several factors to consider, says Barry Dick, president of Ursa Major Gold, Silver and Coin.
Dick, who is based in Richmond, BC, was in Cold Lake on May 12 and 13 to analyze coins and jewelry.
“It’s gold and silver and platinum in any and all forms,” said Dick.
Items are not resold but are melted down, as Ursa Major deals directly with a smelter.
Broken chains, earrings, engagement and/or wedding rings (known as “unloved jewelry” in the trade), charm bracelets, and even dental gold are fair game, as is Canadian paper money.
“The provinces used to issue bank notes before they were standardized (in 1937),” said Dick, adding items such as Prosperity Certificates, introduced in Alberta in 1936, are also accepted.
The amount paid for any item will depend on several variables, such as the condition, supply and demand, and, in the case of bank notes, the serial number.
With the latter, Dick also looks for the signatures of the Governor of the Bank of Canada and his deputy. If the note belongs to a time when one of those positions was held briefly by one of the signers, the note could be worth more.
“Then, we look at the condition of the bill,” said Dick.
With coins – Dick is a certified coin grader – the first consideration is whether or not the coin is collectible; that potential rarity is then combined with the item’s condition to get a numismatic value.
If the coin is worn, Dick looks at whether or not it is made or silver, in which case it is melted down to extract that silver.
Jewelry is looked at for its purity of gold or silver, and then weighed. It is melted, not resold, said Dick.
He stressed he is not appraising the gold, but is assessing how much gold is in the item.
“We pay the same for a broken chain as for a chain that’s operational … Gold is gold is gold.”
Most customers, Dick noted, bring their items in because they are downsizing and want to get something for them.
Dick came to his love of coins early, beginning his first collection at age 7. He went on to pan for gold at age 16.
He strongly urges customers not to use mail-in companies, which pay only pennies on the dollar and do their business out of sight of the client.
“I’m transparent. I do things in front of the customer, and with a full explanation as well. There’s no back room, or curtain.”
Dick said he cover the four Western Canada provinces, and comes to Cold Lake about once a year.
“It’s gold and silver and platinum in any and all forms,” said Dick.
Items are not resold but are melted down, as Ursa Major deals directly with a smelter.
Broken chains, earrings, engagement and/or wedding rings (known as “unloved jewelry” in the trade), charm bracelets, and even dental gold are fair game, as is Canadian paper money.
“The provinces used to issue bank notes before they were standardized (in 1937),” said Dick, adding items such as Prosperity Certificates, introduced in Alberta in 1936, are also accepted.
The amount paid for any item will depend on several variables, such as the condition, supply and demand, and, in the case of bank notes, the serial number.
With the latter, Dick also looks for the signatures of the Governor of the Bank of Canada and his deputy. If the note belongs to a time when one of those positions was held briefly by one of the signers, the note could be worth more.
“Then, we look at the condition of the bill,” said Dick.
With coins – Dick is a certified coin grader – the first consideration is whether or not the coin is collectible; that potential rarity is then combined with the item’s condition to get a numismatic value.
If the coin is worn, Dick looks at whether or not it is made or silver, in which case it is melted down to extract that silver.
Jewelry is looked at for its purity of gold or silver, and then weighed. It is melted, not resold, said Dick.
He stressed he is not appraising the gold, but is assessing how much gold is in the item.
“We pay the same for a broken chain as for a chain that’s operational … Gold is gold is gold.”
Most customers, Dick noted, bring their items in because they are downsizing and want to get something for them.
Dick came to his love of coins early, beginning his first collection at age 7. He went on to pan for gold at age 16.
He strongly urges customers not to use mail-in companies, which pay only pennies on the dollar and do their business out of sight of the client.
“I’m transparent. I do things in front of the customer, and with a full explanation as well. There’s no back room, or curtain.”
Dick said he cover the four Western Canada provinces, and comes to Cold Lake about once a year.
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