Many people have old chains or rings they don’t wear anymore, gifted jewelry from an ex, or maybe some passed down jewelry that doesn’t mean much to you. It might not be worth much to you, but old jewelry can contain valuable gold or precious gems. If you are ready to turn your old jewelry into cash, you have to know what it is worth.
Conrad Morris & Associates has been in the gold, silver, coins, jewelry and gem business for more than 40 years. They have the experience and knowledge to help you determine what your jewelry is worth and how much you can expect to get from it if you sell.
Types of Jewelry
There are many kinds of jewelry out there, from all around the world. It's important to know a few things about the types of jewelry you might have in an old jewelry box. It might be work a great deal or worth nothing aside from the sentimental value.
Costume Jewelry vs Fine Jewelry
Most jewelry can be categorized into either costume jewelry or fine jewelry. Costume jewelry is simply jewelry that is made from cheaper metals and gems. Copper, aluminum, cubic zirconia, colored glass, or brass is used rather than gold, silver, diamonds, etc. This makes the jewelry cheap and often worthless to resell. Fine jewelry is the valuable opposite of costume jewelry.
Estate Jewelry
Estate jewelry is a general term used to describe previously owned jewelry, which is generally not as valuable as new jewelry. Styles and design preferences change and out-of-style jewelry often has to rely on the strict value of the metal and gems, often referred to as the intrinsic value of jewelry. However, some estate jewelry is antique and can be highly valuable, well beyond the intrinsic value of the gems and metal.
Sarasota Buying Event - November 2022
Conrad Morris & Associates are coming back to Sarasota, FL on November 15th for another buying and selling event at the SpringHill Suites Marriott. This is a one day only event! Stop in and meet Conrad! We we will be buying and selling from 10am to 5pm. For more details click this link to see our detailed blog post about the buying and selling even or give us a call at 317-319-8249
How to Tell What Your Jewelry is Worth
Many factors are used to determine the current value of a piece of jewelry, including the condition of the jewelry, historical value, the maker or designer, and of course the quality of the gems and metals. It’s always best to have a professional evaluate your jewelry before you sell, but below you will find some helpful information that will help you determine the value of your jewelry.
Jewelry Hallmarks
In the jewelry business, a “hallmark” is a small impression struck into the precious metal to indicate metal quality or to authenticate other information such as the maker. Hallmarks or stamps are critical for authenticating antique jewelry. Not all jewelry has hallmarks, but you can usually find them on the clasp of a necklace, the inside of a ring or bracelet, or the earring post. There are thousands of different hallmarks beyond the common 14K or 18K. Some of the most common stamps are below. There are many good books and online references to help interpret various historical hallmarks, but it's best to consult with a professional.
Gold: 22K, 18K, 14K, 10K, 916, 750, 585, 375
Platinum: 950, 900, PLATINUM, PLAT
Silver: 925, 800, silver, sterling
Magnet Test
Just because jewelry doesn't have a hallmark, doesn't mean it's not valuable. A fast way to see if your jewelry has value is to test it with a magnet. Gold and silver are not magnetic. If a strong magnet attracts your jewelry, it is likely made of cheaper metals or contain too much, which will eventually damage the gold.
Condition
Closely inspect the jewelry and look for areas of wear. If there are off-color areas of shiny metal, it is likely not real gold or only plated with gold, which is far less valuable. If your jewelry contains gems or other stones check if they are attached with prongs or glue. Generally, higher quality jewelry uses prongs, whereas costume jewelry typically uses glue. If high quality jewelry is damaged it could be worth repairing to increase the value. It's always a good idea to consult an experienced professional to evaluate the condition and authenticity of your jewelry.
Gold Price
It's important to watch the spot price of gold when you are looking to buy or sell. CM+A can help keep you informed of the most recent movements in the price of gold. As always, we take a look at two charts to help provide some perspective on the price. The previous 30 day chart can show you the recent trends and the previous 365 day chart gives a larger context to the current trend.
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Gold Spot Price Last 30 Days | Gold Spot Price Last 365 Days |
Conrad Morris & Associates
CM+A has decades of experience buying and selling. CM+A is based in Indiana, but spends much of the year in Sarasota, Florida area. Conrad has built a longstanding, loyal customer base because we use the latest evaluation references and metrics to offer the highest market payouts in the industry, often up to 98.5% of market value. Contact us today to schedule a private home visit to buy and sell coins, jewelry, and other forms of precious gems and metals.
We are an active member of the Better Business Bureau. Here is more detail about what we buy. For those looking to buy precious metals and gems, give us a call, we also sell gold and precious gems at our events. We pride ourselves in maintaining a loyal customer base and getting you the highest possible payout. Our main goals are to get you top dollar and provide you with a service you can trust. We love and cherish our veterans! Tell us at the time you show us your product to receive a 5% premium on your monies.
For more tips and news about valuable coins, jewelry, gems, gold, and silver subscribe to our blog. Conrad regularly shares his knowledge as well as Buying Events where he buys and sells these valuables.
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