Does Everybody have a Money Tree?

Posted by on Sep 8, 2020

The answer is probably, yes!  And in this pandemic world, don’t we all need a little extra cash?

You probably don’t know that the precious gold jewellery you no longer wear – you know those pieces that are sitting around in a darkened jewellery box or drawer – could be worth more to you turned into money.

You probably also don’t know that refining and melting gold is one of the services that I provide, but don’t advertise. As of today, the price for one ounce of pure (24 karat) gold is approximately $2,500.00!!!  You would be absolutely shocked at how much money you have sitting around in the old gold jewellery you never wear anymore. So, that old gold jewellery IS your very own money tree.

However, this idea only works if you either don’t like/wear the jewellery anymore, or it has absolutely NO sentimental value. 

There is a fair amount of work to get pieces ready for melting down. First, every stone from rings, pendants and earrings has to be removed. Depending on how they are set, that can take a lot of time. Next, any “steel” from clasps and things has to be taken off, which means breaking them open. By the time the jewellery is ready for the refiner, it is totally destroyed! The only thing it’s good for is to be melted.

By the way, I do return all the gemstones, so you will still have a reminder or memento. If you do decide to re-make a new piece of jewellery using those gemstones and the cash you now have available from the old gold melt, we can discuss that idea. Depending on my schedule, I’ll either help you, or recommend another one of my colleagues for you. But as another one of my service reminders, I do make any of my jewellery designs by “special commission” in 18 karat yellow gold, or gold and sterling silver combinations. I did this for a client and you can read all about it here.

Refining and melting is not your only choice, depending on the piece.

Some pieces are “too good” to melt down and they really need to just be in a place that offers them to other interested parties. Good quality pieces that have been previously owned are available for purchase at stores that specialize in “Estate Jewellery”.

I have had many clients come and show me gold and semi-precious stone pieces, and as soon as I see them, I know they shouldn’t be melted down. The reality is, if the piece has enough great characteristics, you will actually get more money for it as is, rather than destroying it and melting it down.

Case in point. This 18 karat yellow gold and diamond necklace was brought to me a couple of years ago. As soon as I saw it, I knew it shouldn’t be melted. I took it to an Estate Jewellery Dealer and she gave my client more than double what we would have got from melting it down.

So, with Summer winding down and Fall not far behind, while you’re contemplating switching your wardrobe over, take a gander through your jewellery box and see if there are pieces that fit either scenario.

If you’re interested in talking to me further, let me know. We can make an appointment for me to look at the pieces you are considering. I’d be happy to give you my opinion, and discuss how you can glean real money from your long-forgotten or unused gold jewellery. 

Call or email me to make an appointment to bring it all to my studio so we can discuss your best options in more detail.