Gold buying, the smart way, this holiday season.
The holidays are a time when we gather with loved ones and show our appreciation for one another, usually through presents. Jewelry, though it is one of the most common gifts to give, can be a tricky buy for those who are not educated in the jewelry industry. With endless styles, colors and cuts presented to you upon entering a jewelry store, making the right decision can seem impossible. Luckily, with the help of Nancy and David Stone of Nancy and David Fine Jewels, we were able to assemble a quintessential guide to buying gold, to get rid of stress and make more room for smiles this holiday season.
Gold is one of the most timeless and classic metals due to its non-reactive nature and brilliant glow. Gold is currently at historical highs, trading close to $1,900 per Troy ounce. Nancy and David explained that if you bought gold when it was trading at a low rate, then it would be wise to sell while it is trading at a high rate if the piece of jewelry is not being worn or handed down to another generation. For dated gold jewelry that is no longer worn, it is best to melt the gold down and reinvest the money from the gold into a new jewelry piece. However, some pieces, such as vintage heirlooms and handmade pieces, have intrinsic value and years of stories within, making them worth keeping.
In regard to having jewelry appraised, the most important thing is working with a jeweler that you can fully trust. Any potential buyer or seller of gold should trust that their jeweler is being transparent with them, and they should be more than happy to weigh, test and inspect the gold in front of them. Having a jeweler that is completely honest and calls in experts when they are handling a piece that they are unfamiliar with. Nancy and David had a client bring them gold coins that they had inherited, but did not know much about. They were able to test the coins and then had an expert appraise them and they were found to be in mint condition from 1900, and worth $125,000. Without the help of an honest and careful jeweler, the value of these coins may have gone unknown.
When buying gold jewelry, Nancy and David want shoppers to remember that it is most important to buy pieces that you love, and not to think of gold as an investment. “Gold is a precious metal of intrinsic value”, Nancy said, “it signifies a moment in time.” The gold market can be deceiving, so it is best to buy gold that you will wear and enjoy. Nancy and David Fine Jewels has been in business since 1980. They were quickly introduced to the designer world in 1985 when they won Designer of the Year, and they began transitioning into the premier jewelry industry. Owning their own inventory and being self-financed, Nancy and David were faced with experiences and challenges that helped them learn and improve their business. Since opening their downtown Millburn location, Nancy and David Fine Jewels has been listed as one of America’s Best Jewelers. For a satisfying experience and any jewelry service imaginable, Nancy and David Stone are there to aid you with their expertise.