Make the circlets inside a salvage bag. Then click "recycle ingots."
It looks to me like the salvage bag is bugged right now. It should give the same number of ingots as if you smelted them using your mining skill. In other words, with zero mining a circlet smelts into 1 ingot. Instead it gives one plus the smelting number: 2 ingots from a circlet if you have zero mining, or I get 5 ingots back from a circlet with GM mining.
I tried salvaging a dagger and with GM mining I got back 3 ingots from a dagger that takes 3 ingots to make !
The value of the ingots you get back from salvaging is greater than the selling price of a circlet.