Let’s talk a little bit about gold. As of April 1, 2020 gold prices in the United States were at a near record high having surged by more than 30% over the past 12 months. One of the reasons for that increase in value is that the output from gold mining in 2019 was flat. Old gold sales always rise when the price of the metal in general rises, and that price historically rises when the stock market is volatile, as it has been lately.
Gold is a commodity and is one of the oldest forms of investment and wealth because it is a pure chemical element, and as such the amount of gold in the world is finite. Humans cannot manufacture new gold, so it must be mined or recycled. The finite nature of gold means the amount of it circulating in the world is limited which is what gives it its high value. Unlike real estate, gold is easily transportable, which also adds to its value. When you bring us gold jewelry to appraise and buy, you are recycling it and giving it new life. We will either sell the jewelry we buy as is, create it into something new, or sell it as scrap gold. Scrap gold accounts for about 30% of the total global supply of gold in the world. Recyclers and refiners then melt it down, purify it and form it into gold bars for coin fabricators and investors or gold powder for industrial use.
It’s pretty likely that you have some gold just sitting around. It may be old jewelry that was passed on to you, or jewelry you no longer like, or perhaps a gift from someone who is no longer in your life, and as such no longer holds sentimental value for you. Jewelry is such a personal thing, that perhaps it is a piece given to you by someone that now brings bad memories with it. You may have some gold coins you inherited, or even gold dental work sitting in a junk drawer. Now is absolutely a great time to come in and have us appraise it. Because, conversely, when the stock market recovers, gold and silver prices will drop.
The value of your gold is based on the current market price of gold bullion, but there are other factors considered as well when we are appraising jewelry. Unless you are looking to sell actual gold bullion, it’s a good bet that your gold jewelry or other gold items have been mixed with other alloys or metals to strengthen them because gold is so soft. The higher the percentage of gold in your jewelry, the higher its value. Most people know that gold is measure in karats. In things like jewelry, the purist gold is 24-karat, which makes it the most valuable as well. Typically the karat has been stamped into the metal on a gold piece of jewelry, but sometimes this has rubbed off through wear and tear. You may even have inherited what you thought was just costume jewelry, but are unsure about. We have the expertise to test your gold to find out the karat of it when we appraise the jewelry.
Judy’s Jewelry Antique and Estate Jewelry is family owned and operated, and we have over 30 years of experience in appraising, buying and selling gold, fine jewelry, and other antiques such as diamonds, vintage engagement rings, vintage rings, gold, silver, costume jewelry, old pocket and wrist watches (running or not), military items & small furniture. We provide a high quality service and we have an outstanding list of buyers that are seeking merchandise on a regular basis.