"Assuming the necklace and medallion are crafted of solid 18K gold, the company estimates that the Order of Merit contains as much as $25,000 worth of gold," the company said in a press release.
The company acknowledged, however, that it may not be a wise move for the president to mail in the necklace – known as the the King Abdul Aziz Order of Merit – to be melted down.
"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," the release noted.
That didn't mean a marketing opportunity was to be missed, however.
"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," said Cash4Gold co-founder and Chief Executive Officer Jeff Aronson.
When Abdullah presented the necklace to the president earlier this week, he said, "Those are only given to the very few friends of the king, and you are certainly one of those."
Responded Mr. Obama: "Goodness gracious. That's something there."