The Essential Guide to U.S. Trade in Gold and Silver Jewelry

JCK Online reports that The Jewelers Vigilance Committee has released a new publication, “The Essential Guide to the U.S. Trade in Gold and Silver Jewelry.” The Guide was developed to provide clear explanations of the legal standards that govern the manufacture, sale, and advertising of gold and silver industry products and can help the trade to provide clear, accurate information to consumers.

The publication includes JVC’s interpretation of the following governing standards:

1) The National Gold and Silver Stamping Act
2) The Federal Trade Commission Guides for Jewelry, Precious Metal and Pewter
3) Voluntary Product Standard (VPS) PS 68-76, reflects the accepted trade practice in the marking of articles made only of silver in combination with gold, either visually distinguished or not, and includes articles where the gold fully covers the base.

The Guide also contains information that jewelry manufacturers must be familiar with and follow, including: when and how to stamp gold and silver; what a gold alloy is; and what is solid silver.

“The Essential Guide to the U.S. Trade in Gold and Silver Jewelry” is posted on JVC’s Web site.

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Looking for some good deals on used jewelry? San Diego jewelry shoppers take note that big stash of fine jewelry is going up for sale on e-bay soon. You can read about it here: Unclaimed Jewelry On Sale at E-bay.

Illinois to Auction $125,000 of Unclaimed Jewelry on Ebay

Are you looking for some great deals on second-hand fine jewelry? Doesn’t matter if you are from San Diego, you can still take part in the Illinois jewelry auction on Ebay. Illinois State Treasurer Alexi Giuannoulias’ office has begun auctioning the contents of abandoned safety deposit boxes on eBay to holiday shoppers. Read more

Increased Demand for Platinum Jewelry in 2009?

According to a report from Johnson Matthey, demand for platinum jewelry may rise next year. During the past year, the rising price of platinum (which topped at $2,200 an ounce) had a negative impact on jewelry manufacturing. As prices rose, recycling of old platinum jewelry, especially in China and Japan, further depressed demand. But when the shocking news from the financial sector hit in the third quarter, prices of precious metals, including platinum, dropped significantly.

The current spot price of platinum has been hovering near $825 an ounce, while gold has dropped back to around $750, after topping $1,000 an ounce earlier in the year. The bigger drop in platinum prices compared to gold prices is said to be attributed to the fact that platinum is predominantly an industrial metal, while gold is more of a financial metal.

If demand for platinum jewelry increases that means the price of platinum will likely rise, too. So, if you are looking to sell some platinum jewelry, you may want to wait a few months to see what happens on the market. Platinum, along with its sister metals Palladium and Rhodium, may be set for a rebound.

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It always surprises us the amount of people there are in San Diego who are interested in the happenings at the big auction houses on both coasts and abroad. If you are one of them, we have some bad news: Sotheby’s Sale Disappoints.

Sotheby’s Sale Disappoints

We reported last month how watch auctions were setting records, but not so with a recent jewelry auction at Sotheby’s in Switzerland. Nearly 150 jewels including the star lot, a huge blue diamond, were left unsold, as nervous buyers held back amid uncertainty in world markets, the auction house said. Read more

San Diego Tips: Selling Your Used Watch

If you are looking to sell your watch in San Diego, there are a few important things to keep in mind. First, is the watch you are selling vintage or like new? For the watch to be sold as “vintage” it should be more than 40 years old. If the watch is under ten years old, then you should do whatever maintenance is necessary to make it appear as new as possible. For example, if the band is full of scratches you might consider replacing it. And if the watch is battery powered, replace the battery.

You should learn as much as you can about your watch, including the brand, model, design, functions, year of manufacture, and the current market demand for watches of its type. There are plenty of websites that can help you in this learning process. Try also looking up similar watches on e-bay to help gauge the demand for your watch. The greater the demand for your watch, coupled with a short supply, translates to higher prices and more money for you.

Visit or call several San Diego jewelry buyers to get a free quote on your watch. Some places will even provide a quote via email, as long as you provide them with all of the necessary details about your watch. If you go to visit a buyer in their office, do not leave your watch with them, but ask for a quote right away. A reputable buyer will have no problem giving you a quote on your watch during your visit.

Once you have received a range of buying offers for your watch, you can then choose the best one, or try to sell it via an online or offline auction. San Diego has several bricks and mortar auction houses that sell watches, including AAA Auction and Anstead’s auction.

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Interested in reading more about jewelry and watch auctions in San Diego? Try this article: California Auction Stretched Holiday Dollars.

Top 5 Tips: Selling Used Silver Flatware

Here are your top 5 tips to remember before selling your silver flatware in San Diego.

1) Identify whether it actually is made of sterling silver, and not just silver plated. If it is genuine sterling silver flatware, the word “sterling” will be on the flatware. That is, unless it is an antique manufactured prior to 1860. Read more

How San Diego Pawn Shops Work

Featured at the website HowStuffWorks.com is a good article about How Pawn Shops Work. The article rightly points out that pawn shops don’t really deserve the “shady” image that many people hold of them–often due to the way Hollywood depicts them as fence operations for stolen goods. For centuries, pawn shops have been the quick and convenient way for people to borrow money. Read more

California Pawn Shops Increase Business

According to a recent report by Bloomberg, California pawn shops have seen a dramatic increase in business over the past several months. The CEO of Beverly Loan (sitting in an office strewn with 18k gold bracelets, Rolexes, diamonds, and other luxury items worth thousands of dollars) is quoted as saying, not surprisingly, that business is booming. Read more

City Loan & Pawn Shops Form Alliance

City Loan has announced that the company has aligned itself with Abes Pawn Shop in Santa Clarita, California. City Loan hopes that the partnership will increase the company’s exposure to this market, thus eliminating the need for it to open a bricks and mortar location with its subsequent costly overhead. Read more