Selling Gold Coins? Do stores melt what they get?

Question

I have a few 1 oz. Gold coins I don't want anymore, I really have no interest in what they're worth or anything like that. But they all have my name engraved on them and I don't want to sell them if they're going to be resold as they are.

Do coin stores melt gold and silver down? I just don't like the idea of some stranger having my name in their collection, you know?

Answer 1

I don't know what they are worth, but I do know of a great site where you can find out.  I will provide the link below if you want to check it out.

My friend sold some gold there and made some decent money. She compared a lot of places and she liked this one the best.  They are members of the BBB, and they were featured on USA Today, so it is not some shady place.  You just fill out the form on the site, and you can find out what you can get for it.

Answer 2

If a coin is properly labeled as to it's weight and purity, and has been struck by a reputable organization, it is unlikely to be melted down.  The coins with your name on them do not sound like such coins.

Unless your name is quite unique, you probably should not worry.  Coins that say "John Smith" could mean anything about any "John Smith".  But assuming that you want to erase your name:

Pure gold is quite soft, and simply beating the coin with a hammer should deface the name.  

Grandpa

Answer 3

They probably won't be sold as-is, but will get melted down at some point.  It could be at the pawn shop, it could be at a central facility, it could be in South Africa.  It won't be sold for retail without being melted and reshaped, you can pretty much count on that.

However, gold is also soft enough you may be able to flatten out or distort the name my yourself.  With a good pair of pliers, you can at least make your name illegible, if not make it seem like it was never there.

Answer 4

Sell them to a reputable coin dealer.