As the price of gold flirts with all-time highs, it's an opportune time to sell your gold jewelry. More investors are fleeing to the safety of gold. Gold cannot be destroyed and does not rust like other metals. You can always sell gold jewelry or melt it down for scrap. All the gold that has been mined exists in some form today. Gold scrap, though, will generally not sell for as much money as gold coins or bars. The following are ways to buy gold jewelry that could turn a profit when you sell your gold jewelry in the future.
Sell Gold Jewelry as a Collector's Items
Buying gold jewelry that could one day be a collector's item may seem like a gamble. How do you tell the difference between an 18 karat gold necklace that will have scrap value one day or your grandmother's gold necklace that's selling at the auctions for three times the purchase price? One way to reduce your investment risk is by investing in gold jewelry that's known to have future collector's value. For example, they'll tell you which brands and items are popular collector's items. Whether buying gold coins or jewelry, if the piece has exceptional artistry, collectors are more likely to bid up its value in the future.
Hold Onto Gold Jewelry Until It's Vintage
Vintage items (25 years or older) are full of kitschy costume jewelry and odd trinkets. It's very hard to predict what will meet the vintage collector's fancy in the future. Gold is an exception. The yellow metal will hold its value as a precious metal. Gold chains are a popular vintage item. Other top-selling gold vintage jewelry items include:
- Pocket watches and watches
- Albert chains (for pocket watches)
- Cufflinks
- Lockets
Investing in older jewelry pieces that will one day become antiques (100 years old) is another astute way to sell your gold for profit one day.
Buy Luxury Gold Brands
Luxury items and top luxury brands will still hold their value even in a recession. A gold crown or scepter from a royal collection may be too expensive for most, but it's worth mentioning the House of Garrard and other royal jewelers. Any gold jewelry with a hint of royalty attached to it will appreciate in value. If you consider buying and collecting these items, you could turn a profit later down the road.
If you're ready to sell gold jewelry, going here is a great place to start.
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