Posted on: 7 October 2022
Inheriting a large jewelry collection can be a way to generate wealth for a lifetime if you take the time to assess the jewelry and make the right moves. If you have inherited a lot of jewelry, and you have gold and silver pieces, along with precious stones, it's time to see how this can benefit your portfolio.
Gold is a valuable item and something that is viewed as a currency globally, so you want to maximize on what you have right now. Do the following so you can move quickly with the collection.
Have the Pieces Appraised
You want to have each individual jewelry piece appraised. This allows you to see the value and breakdown of each piece, and you can decide if they are worth keeping or selling. The appraisal will take into consideration these factors:
- Type of metal
- Weight of the metal
- Quality of the stones or gems
- Design or style of the piece
- Condition of the piece
If you think that the appraisal is off you can get a second opinion, there are licensed professionals that should be able to do this work for you.
Choose What to Sell and Keep
Jewelry can be great to add to your portfolio because precious metals and gemstones can be used as a currency and value globally. If there are some pieces that are mostly just gold or silver and you don't have an interest in them, find gold buyers that will give you cash quickly.
This is a fast way to get rid of the items that you don't want. Gold buyers are looking for smaller gold pieces so they can make gold bars and resell, so you can get rid of what you don't want quickly, and then invest that cash into what you want.
Be sure to pull out all the sentimental pieces and keep these as a part of your portfolio as well. You don't want to sell a diamond ring that you think one of your children may have wanted as an engagement ring or a special piece with a unique design that you won't be able to get back.
Start with selling the pieces that have the most gold and go from there. After you see how much you make off the first few pieces, you may be able to keep more pieces because of your profits. Be sure to get reliable appraisals so you aren't selling anything that is one of a kind and invaluable.
For more information, contact a local company like Fast Cash and Pawn.Share