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Bryan H. Roberts Appraisal Services Blog

Finding Value in the Jewelry Box

6/7/2019

7 Comments

 
Picture
With items across the board bringing less and less each year, finding value in an estate can be challenging. One area that people often overlook, however, is the jewelry box. What many people dismiss as out-of-fashion and costume jewelry can still have significant value just on the metal content alone.

As I write this post, sterling silver is at a very low price point and thus it will take a fair amount in terms of weight to generate significant income. That being the case,  the silverware chest will be a better bet than the jewelry box.

Gold, however, is a different story and it doesn't take much to start adding up to some real money. Weighing gold can be confusing since it is often measured in troy ounces, which are heavier than standard ounces. But, a troy pound has fewer ounces than a standard pound so the troy pound is lighter. My advice is to make life easier and just weigh everything in grams, like I do. Problem solved since the internet has free sites galore that will give you daily prices of metals in grams.

Gold content is very important. Your finest gold will be 24 karat, followed by 22K, 18K, 14K and on down to 8K. By law, gold must be marked but often times the mark is very hard to find. And, sometimes instead of a karat mark you will instead see a number, such as "585". This is a percentage number based on 24K as 100 percent. 585 means 14K gold since 14 divided by 24 is essentially .585. Likewise, .750 means 18K gold since 18 is 75% of 24. Obviously, the higher the gold content the better when it comes to value. 

One mark to watch for is "GF". When present, it will almost always be immediately to the 
right of the gold mark. GF means "gold filled" and might as well stand for, "not gold". A "gold filled" item, also sometimes called "rolled gold", means that the item is made of base metal with a thin gold coating. There is no precious metal value in a gold filled item, so be sure to look for it before taking an item in to sell.

A final word of warning: on occasion, a gold chain will have a gold clasp but the chain itself will be "gold tone", i.e. base metal with a gold finish. The photo above is a good example of this. The clasp is marked "585", meaning 14K gold, but the chain turned out not to be gold. As Ronald Reagan famously said, "trust... but verify". A reputable gold/silver dealer will usually perform this test for you while you wait.


7 Comments
O'Connor & Associates link
7/29/2019 07:16:33 am

Well worth a read. Got great insights and information from your blog. Thanks.


Reply
Bryan Roberts
8/6/2019 09:35:25 pm

Thank you for your kind comments!

Reply
Zachary Tomlinson link
7/25/2021 04:23:07 am

My friend is thinking about selling a bunch of jewelry that she received from her abusive ex-husband. I never knew that you could exchange sterling silver for money along with gold pieces. I think we should consult a jeweler so that she'd get enough income for her phone upgrade.

Reply
Vivian Black link
1/20/2022 10:38:25 am

I found it interesting that sometimes, a gold chain will have a gold hook but the chain is just gold tone. I have quite a few pieces of jewelry that my grandmother left me over the years that are gold chains. There is enough to get a substantial amount of money. However, before I take it in, I want to see a jewelry appraiser so I can be better informed. I am sure that an appraiser will know the difference between a real gold chain over one that is base metal. Thank you for the information.

Reply
Bryan H. Roberts link
1/20/2022 08:42:20 pm

Hi Vivian,

Thank you for the comments! Yes, I learned this lesson the hard way once when I brought a "gold" necklace from an estate to a metals dealer colleague to sell. He was instantly suspicious and did the tests that confirmed the clasp was 18K gold but the chain was "gold tone". He had decades of experience so I felt better when he told me he had learned the same lesson the hard way as well. As Ronald Reagan famously said, "Trust... but verify". Bryan

Reply
Ellen Delgado link
7/16/2022 10:59:14 am

Thank you for sharinng this

Reply
Bryan Roberts link
7/18/2022 09:06:33 pm

Ellen, you are most welcome!

Reply



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    Bryan H. Roberts is a professional appraiser in Sarasota, FL. He is a member of the Florida State Guardianship Association, the Sarasota County Aging Network (president), and is certified in the latest Uniform Standards of Appraisal Practice (USPAP) Equivalent

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