Some of us are lucky enough to have gold family heirlooms passed on from generation to generation. Whilst these have great historical and sentimental value, it is not always practical to keep them around. They may be too dated to wear and the hassle of keeping them safe can be too much so what should you do with your antique gold jewellery? Sell gold jewellery for cash of course?
These days there are so many ads about people or companies wanting to buy your gold jewellery for cash. You might have wondered why there is so much hype about gold. The reason is that gold prices have been soaring in recent years. When the economy is unstable and the world seems to be in a constant state of tension, gold prices go up. The demand for gold increases in times of economic turmoil because gold has always been seen as a safe way to invest money. We have been in a state of tension since 2008. The gold price broke through the $1,000 mark and has managed to stay well above it for years. It is the one commodity you can bet on when the world is falling apart. So, if you have old jewellery that your great-great-ancestor left you and you have not much use for it except pass it on, why not do something even more useful and turn it into cash.
Family heirlooms are tricky because people will argue against selling your legacy so you may want to take a moment to think about it. Most antique jewellery will develop problems in the long run. You could damage a clasp or lose a precious stone. Restoring these can be costly, in dome cases like in the case of precious stones, the gold might be less than the stone in which it was set. It’s easier to make a decision when you are dealing with antiques that have been damaged over time.
Before you sell your antique, vintage Cartier bracelet you might want to have it appraised. The world of antique jewellery is vast and there are collectors and buyers who will buy gold jewellery even if it is in the worst shape. Try to find out as much as you can about the history of the jewellery. When it was made, where it was made and by whom. The internet is filled with resources on antique jewellery and there is a large community of antique gold traders on forums and social media. Do a really deep dive into the internet to find more information about your particular piece of jewellery and to find those dealers who are looking for antiques like yours. Take your jewellery to a jeweller to get it appraised. You should at least know the value of the gold in current terms.
When you have made your decision to sell gold jewellery, think about who you want to sell to. You could probably find a better deal by selling to a collector who will not only take the spot price of gold, but will put a value on how the antique jewellery looks, the craftsmanship and how it has held up over time – things that your local pawn broker or cash-for-gold dealer won’t care much about. If you can’t find such a buyer and you really need the money, then you should look for a gold dealer who will still give you a good price for the gold.
Shop around you and go online. Visit a couple of local pawn shops and gold buyers in your area and compare their quotes, but don’t wait too long to make a decision. Gold prices are always fluctuating. With the state of the work economy being in constant flux, you never really know what is on the horizon that could cause gold prices to plummet. Sell whilst the going is still good.
