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Wednesday, January 21, 2009

There is Treasure in Your Jewelry Box

According to Money magazine, for real gold and other fine jewelry, you can get more than double what you would have gotten five years ago. Today gold is up, at around $850 per ounce.

I felt so bad when I noticed the diamond was missing from my engagement ring. The prongs that secured the stone had deteriorated, so even the 18K gold setting was unsalvageable. I added the ring to the other unusable items in my jewelry box ... several orphan gold earrings, a couple of knotted gold chains, some tarnished silver bracelets, and a gold and opal ring a long forgotten boyfriend gave me when I was 16 inscribed "Love, Richie".

As a freelance writer, I receive press releases from e-sites that buy gold. I googled the topic and I read a feature written by a reporter who sent her jewelry to several online sites that buy gold. The place that paid her the most was usgoldbuyers.com. But why ship my gold to a website address, when I have easy access to the famed 47th Street Jewelry District. Turns out, usgoldbuyers.com is based on 47th street, so I stuffed my tattered gold and silver in a ziplock bag and headed there. (My husband said selling jewelry seemed pathetic, but I wasn't pawning family heirlooms; my measly stash was basically junk).

When I arrived at 62 West 47th Street, the receptionist said: go in Room B and close the door. I found myself in a small enclosure with a plate glass window. A man appeared on the other side and directed me to slip my goods into the sliding drawer. He scraped and dabbed and weighed my jewelry, then he showed me a list with the current market prices and the pennyweights of my 18K gold, my 14K gold and my sterling silver. "$306.59, but we'll round it off to $307," he offered. "Ok," I replied, trying to hide my enthusiasm. "Cash or check?" he asked. I took the cash, stuffed it into a pocket, and left the building with a major smile. My skeptical husband was happy to help me spend my newfound funds.

Since the value of gold is extremely high, this is a great time for you to see what's hiding in your jewelry box. If you want more information, please contact me.

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