"Invest in Gold!" You're probably hearing it everywhere right now...Gold is on fire right now (not that it kind of hasn't always been), but with uncertainty and crisis comes a return to assets that have known and historical value. Gold, at time of writing this, is right at $1725 an ounce. Yes, you read that right: AN OUNCE!
Gold has been a part of civilized society and currency as far back (on record) as 550 BC. It morphed into paper money later, but for a long while remained a 'backing' to provide a tangible link to the paper's value (the idea being that money could be 'traded in' at any time for this gold). There's a wealth of history behind gold's value and lineage -- but that's a very geeky and long winded topic for another time. If you're into that sort of thing -- and we don't judge you: it's fascinating -- we recommend you check out the World Gold Council's article about that here.
For now -- we want to give you our own totally biased personal opinion on gold, and tell you why and HOW we think you should invest or reinvest.
Investing in gold has two parts for most people: gold you already have, and gold you may want to buy or invest in.
Gold on the hand is worth as much as gold in the bank.Feel free to quote us here, particularly when making the case to your spouse, or your significant other, or your best friend when you're having a zoom wine date and discussing how much you need to self indulge in something pretty right now. Seriously -- how can you argue with that logic?
Most of us have old gold lying around. By 'old' -- we mean: inherited jewels we don't like or never wear, sad lost earring loners who will never find their mate, bits and pieces that have broken or remain from repairs, and maybe even coins or other gold investment objects. There's nothing wrong with this 'old gold' -- in fact it's perfectly capable of finding new life by being melted into something new and pretty that speaks to you and your style.
How to convert that old gold?You won't get much by pawning it. You might get something, and gold's at an all time high, but you're always selling to the middle man. The pawn shop AND the refiner still need to make money out of the transaction. The best you'll ever get is less than it's worth: period. Our motto is: If you have it, recycle it in-house. You might as well -- it's your best bet for getting the full value back out of it. HINT: This is where we come in!
What's more? Adding in that old stuff into a new project saves $$$. Lots of it, sometimes. Chances are, if you're already swooning over that piece you have in your mind, you're going to spring for it at some point anyway.
We've seen using old gold cut the price of a project in half, and often times even more substantially than that. The flip side is -- if your project requires the purchase of new gold, it's never a bad investment. Look up historical gold charts if you don't believe us. Know how your insurance is always wanting an updated appraisal for that engagement set? It's because, historically, the value increases over time.
Investing in new gold
Coins are king, because that's the type of commodities investment companies are slingin'. They're marked up a hair, but not a ton. They're shiny and mass produced, and identical. They are heavy and take up space in your safety deposit box or safe, seeing the light of day.... eventually.
We are here to offer a second option: WEAR IT! Why not?
Jewelry is intimate, highly personal, and cherished for generations. It adds value by commemorating events and memories, and it adds joy every day when worn. It can act as a reminder, as a placeholder, as a milestone. Don't get us wrong -- there's nothing wrong with investing in gold coins, but we simply must inform you that its much less fun, and much less meaningful. The best thing about gold is it's beauty... and that really doesn't belong in a stuffy safety deposit box.
Yes, we absolutely admit that you'll end up paying a fee for the labor and time it takes us to convert it into something spectacular and sparkly, but you'll LOVE it in a way no one will ever love coins. Plus, it will only increase in value with age, and you're also supporting a teeny tiny artisan business, so it's sort of a win-win-win.
We are here to help make your future jewelry dreams come true, if and when you decide to rummage through your jewelry box for those bits and pieces. If you end up wanting new gold, we'll also give you peace of mind by making sure its 100% recycled and a ethical as possible.
Ready to start something new? Head over to our custom design page to learn more or make an appointment to get started!