Jewellery provides everyone with a fine gift to give or receive, often associated with special moments and events. However, at a certain point like many things, the jewellery we have loses its appeal and migrates from being special to be stuffed in a drawer or a box somewhere. And then it becomes functionally useless. Fortunately, there’s a very practical solution that allows people to get some value out of old jewellery pieces again. Assuming there’s no longer a viable emotional attachment, all types of jewellery made of gold, silver and palladium can be sold for cash, and not for a garage sale price either. Here are 10 reasons for selling jewellery that will turn it into usable, valuable cash for your bank account.
1. Gold Rings
When it comes to men’s jewellery, gold rings are probably the most common. And when made of solid gold they can have a very healthy return when sold for the recycled precious metal. That said, because men’s rings tend to go through more of a beating by the very nature of how men wear them, they have to be made with stronger alloys. That means these rings are frequently manufactured with 12 or 14 carat gold versus higher quality that can bend easily or break. The trade off for all that strength comes in a lower gold quality that doesn’t return as much when resold to gold buyers. Still, even lower quality gold will still command a sizable cash payment, especially if the ring is big and weighs a solid amount.
2. Bracelets and Necklaces
Both men and women will have these jewellery items, but women tend to have more than not. The best items are gold chain type, entirely made of gold or silver. And, no surprise, the higher the gold and silver quality, the higher the resale value will be. 22-carat gold chains do very well in resale value and often remain in high demand year after year. Some folks worry that these kind of jewellery items are hard to sell without a clear hallmark, stamp or paperwork to confirm their quality. However, top professional buyers have plenty of tools available to confirm the type of gold or silver they are looking at.
Another category of jewellery that works very well tends to be solid silver or gold earrings. Irrespective of whether the items are in pairs or singles missing a match or even broken, as long as the earrings are solid precious metal, they will sell. So, there’s no reason to keep them hidden in a box or drawer because these earrings can’t be worn anymore.
4. Gifts You Don’t Want
Everyone at some point gets stuck with a gift that’s not really wanted. And jewellery can fall into that category as well. You smile, you accept the gift, and then it never sees the light of day again. That just ends up taking up space in your belongings and creates an ongoing sense of guilt. There’s no reason to keep dealing with this double-dose of frustration. If that gift is made of solid precious metal, sell it for cash and get yourself something you really want like a trip, school access, a car accessory or a savings certificate for the long-term.
5. Forgetting About a Marriage That’s Over
No one wants to wish a divorce on anyone, but for some, it becomes an inevitability. And those wedding bands no longer have a wonderful, good meaning anymore. Instead, they become a reminder of pain and angst. A lot of jewellery comes about during a marriage. And in that same respect, it carries a lot of emotional baggage every time a person looks at it after the fact when the marriage is over or ending. Rather than continuing to dredge up old feelings each time and getting angry or sad, selling that second-hand jewellery can turn it into resources for moving forward or buying replacement sets that are just as personal but disconnected from the past. Who knows, the money could go for a new ring set for a new chapter.
6. Inherited Jewellery
Similar to a gift, inheritance can be well-meaning but useless at a practical level. It’s an attempt to pass down a last wish, benefit or thought from those who have passed, but that doesn’t mean a person is obligated to keep the object or jewellery out of familial requirements. Instead, thank your relative or benefactor, and then move on. Liquidating the jewellery or sold precious metal item is still a benefit to you, and the wishes of your benefactor can still be realized by your enjoyment through what you really want from the inheritance versus what was received.
7. A Break During Hard Times
Life has its ups and downs, and not everything works the way we always expect or work for. Sometimes, things just become overwhelming and struggles happen. Your jewellery can be a safety net that can help in a bad pinch, giving you the cash sorely needed to get out of a bad spot. This is one of the reasons that fine jewellery has been handed down from one family generation to the next. It’s not just for looks and fashion; jewellery has been been a cultural financial safety net for families for centuries. Modern times are no exception. With gold or silver jewellery, a person can easily take a few key pieces and convert them to ready cash to deal with an emergency, a special need, or get some bills off your back once and for all.
8. Taking Advantage of the Moment
Sometimes, selling jewellery is simply about investment. The pieces have been held onto for years and were bought at a time when gold or silver were priced a lot lower than today. With gold especially, that tends to be the case right now. The yellow precious metal has risen so far in the last decade or two, anyone who bought jewellery some 30 years ago is looking at a price return of at least five times the value simply because the spot price of gold has risen so much since. As a result, right now may simply be the right time financially to sell old gold jewellery and convert it into useful cash.
9. Spring Cleaning Anytime of the Year
Getting rid of old, unwanted jewellery can feel good. Whether its broken, damaged, missing parts or whatnot, as long as the jewellery is solid gold or silver, it can be sold for ready and valuable cash. And doing some spring cleaning can feel good too. You get rid of a lot of stuff that just isn’t benefitting you anymore, and instead, you turn that property into a form that opens up new possibilities for you going forward. If nothing else, the money can be put in the bank or investments and grown even further. It won’t do much of that sitting in a box hidden in the closet.
10. Giving Yourself a Reward
There’s nothing wrong with giving yourself a reward once in a while. In fact, many experts in business, sports and life recommend it. Rewards motivate us to push and perform better, longer, harder and with more energy. Your old jewellery can be the means to make that reward happen for something special like a big family meal out, a weekend getaway or maybe even a new TV for the family room for enjoying all your hard work and effort.
Remember, Mixed Jewellery Won’t Work
Lots of jewellery pieces, especially ring and necklaces will have precious stones installed into them. While these are valuable, they will not sell in a recycled precious metal environment. If you really have related jewellery items to sell with stones, you will likely be better off looking for second-hand jewellery markets that specifically look for stones in settings or resale to stone buyers. These days there’s a market for everything with enough looking.
Gold-Plated? Don’t Bother
Another big one that amazingly still gets people trying to sell them, selling gold-plated jewellery is a big no-no in the precious metal world. First off, if it’s gold-plated, it’s not gold. The jewellery is a base metal with a very thin form of gold sealed to it. This is known right upfront when people buy these items, or because it has GP stamped on it. However, everyone once in a while someone still tries to sell a gold-plated item only to be embarrassed and turned away. Don’t put yourself in that situation. If you know or have inkling jewellery that is gold-plated, find out first before trying to sell it. You’ll save yourself a very awkward moment.
Go With Your Best Gold Buyer in New Zealand
Hands down, Smart Gold has proven to be one of the best buyers of second-hand gold or silver, offering customers some of the best prices for their old jewellery sale after sale. Regardless of the lot size being big or small, every customer is treated with high-quality service and professionalism. Every lot is rated and evaluated carefully with expert eyes. We take our time with every customer, there is no pressure and no rushing. And Gold Smart buyers have no issue if someone at the last moment changes their mind and doesn’t want to sell an item. We’d rather have a long-term relationship than a quick sale. Gold Smart will always be there for New Zealand.