Cash4Gold today issued the following press release related to last night's Grammy awards.
With typical good humor, the company offered its congratulations to the talented artists and provided an approximate melt value for the famous statuettes presented to the winners. The estimation assumed that the trophies were made of 24 karat gold (they are not) and assumed that the spot price was $1,080 per ounce.
As it has done in prior press releases, the company took the opportunity to explain the concept of melt value, reminding readers that melt value refers only to value of the actual precious metals content included in an item. The company noted that the fine craftsmanship of the Grammy awards themselves, as well as their sentimental and historical value and the musical achievement that they represent, make them infinitely more valuable than their mere melt value.
CASH4GOLD CONGRATULATES 2010 GRAMMY AWARD WINNERS, ESTIMATING MELT VALUE OF THE FAMOUS TROPHIES
Pompano Beach, Fla. – February 1, 2010 - Cash4Gold (www.Cash4Gold.com), the world’s leading mail-in gold buyer, congratulates all of the winners last night who took home hardware at the 52nd Annual Grammy Awards. Three-time Grammy Award-winner and hip hop legend MC Hammer works very closely with Cash4Gold and has been associated with the company ever since he appeared in the company’s 2009 Super Bowl advertisement with the late and great Ed McMahon.
Dozens of the top names in music picked up trophies during the industry’s biggest night, which was held at The Staples Center in Los Angeles. All of the winners went home with the famous award that reportedly weighs four pounds and four ounces. Assuming the Grammy trophies were comprised of solid gold, the sixty-eight ounce trophy would be worth an estimated $73,440 in melt value with gold currently trading at approximately $1,080 an ounce. Melt value refers only to value of the actual precious metals content included in an item.
In reality, the melt value of the Grammy statuette is worth far less since it purportedly contains only a small amount of gold in the form of gold plating and is composed mostly of other metals such as zinc and aluminum. However, the fine craftsmanship of the trophies, as well as their sentimental and historical value and the musical achievement that they represent make them infinitely more valuable than their mere melt value.
“We congratulate all of the talented winners from last night’s Grammy Awards,” said Cash4Gold CEO Jeff Aronson. “Winning a Grammy is the culmination of hard work and dedication for each of the artists. We work hard to provide our customers with a top-notch customer experience, just as these musicians dedicate themselves to their music.”
Cash4Gold offers its convenient mail-in gold buying service to consumers in the United States, Canada, the United Kingdom, Germany, Spain and the Netherlands. Customers interested in requesting a pre-paid Refiner’s Return Pak can visit www.Cash4Gold.com or call 1-877-GOLD-590. More information is available on the Cash4Gold blog.