Gold prices have gone through the roof. I know we have already said this recently, but we REALLY mean it! In recent weeks, the price of gold reached an all-time high – costing over $1,800.00 per ounce.
What this means for the consumer is that it is a great time to sweep up all those little bits of gold that are lurking at the bottom of drawers, or gathering dust in the back of your jewellery box. Unworn pieces, broken or knotted chains or single earrings can soon add up in weight and be ‘scrapped’ for a great cash price that can be put towards some better purpose (like a lovely new diamond!).
It is worth noting though, that whilst it is a great time to be rid of your useless plain gold, stone set jewellery in good condition might be better sold as an item to be worn, rather than scrapped, since you will get more of the value of the stones back. However, the economic climate not having been too warm of late, the market has recently been flooded with second hand jewellery, sold more out of necessity than choice. As we know, when supply exceeds demand in this way, the buyer holds all the cards when it comes to the sale price.
Our advice therefore, is to hold on to any stone-set jewellery that remains in good condition until the economic climate returns to normal, but take your scrap pieces to 3 local jewellers to get the best price you can and take advantage of the high gold price.
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