Selling Your Gold For Scrap Should Be A Careful Decision

Please give it a lot of thought before selling your past. We were in a regular jewelry store recently and were shocked to see the very huge quantity of good gold jewelry being sold for cash. The ads are all over the TV, newspapers, and internet—you know--"money for gold just gathering dust." We got to peek at what was being scrapped—nestled in the many ounces of plain chains, bands, and class rings, we saw Victorian wedding bands, charm bracelets dripping with heavy charms, tiny antique baby rings, lovely lavallière, incredible ethnic high karat gold filigree earrings, and large handmade brooches. The jewelry had already been sorted into boxes by 10, 14, and 18 karat. All stones had been stripped or cut out. What remained were gleaming masses of yellow. Already the chains had combined into massive snarls. All were to be shipped the next day for melting down. The jeweler said, "An entire generation is being lost!"

The handwork and engraving on some of these pieces cannot be found new. The last hand engraver in our area retired about 30 years ago. You will get a good return for the jewelry you sell, but anything new you buy will correspondingly cost much more. The wholesale selling of gold jewelry will also drive up the prices of vintage pieces as fewer remain.

It certainly makes sense to turn in mangled herringbone chains, the lone cufflinks and earrings, and the ring that made a trip through the garbage disposal. However, good antique or designer jewelry, has value beyond its weight. It can be appreciated for its rareness, historical statement, and quality of design. If you turn this jewelry in for scrap, those factors will not be a consideration. If you do decide to scrap some items, you will be paid a percentage of the spot gold price that day. Not everyone offers the same rate so it pays to do some research. If you have enough weight to sell, it's worthwhile to deal directly with a precious metals refinery.

D. Hewitt for Gianna's Gems