Commodity Online
FLORIDA: How much is the gift that US President Barack Obama received from King Abdullah of Saudi Arabia worth? Certified jewelers at Cash4Gold, America's leading gold buyer direct from the general public, have closely examined photographs of the gift taken by newswire photos. Assuming the necklace and medallion are crafted of solid 18K gold, the company estimates that the King Abdul Aziz Order of Merit contains as much as $25,000 worth of gold.

Considering that the piece confers Saudi Arabia’s highest honor on President Obama, and that it was bestowed personally by the King on the President as part of an historic and widely reported Presidential visit, the symbolic value of the piece most likely surpasses its melt value. Melt value is the value of the actual precious metal contained in an item and that a refinery can extract and recycle. Melt value does not account for the decorative, artistic, historic, or sentimental value of a given item.

Cash4Gold co-founder and Chief Executive Officer Jeff Aronson noted, “I do not expect that President Obama will mail his King Abdul Aziz Order of Merit to Cash4Gold, but if the Obamas, or if any other Americans want to tap the value of old or broken gold jewelry lying around the house, now would be a great time to send it in to Cash4Gold.”

Upon receiving the Order of Merit, President Obama reportedly exclaimed, “"Goodness gracious. That's something there." (Courtesy: Businesswire)

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