New Gold Jewelry & Precious Metals Law

Orange County readers of the San Diego Luxury Pawn Shop report should take note that a new law has been passed. The Shawangunk Journal reports that under this new law, anyone who has a business that buys second-hand jewelry (gemstones and precious metals) would have to have a license from the county and undergo a background check. In addition, two crucial rules apply. To sell gold jewelry to a store, you have to be over the age of 18 and you have to have photo ID for the store owner to see and if they want, to record. Then, the store or pawn shop must hold the items for 15 days before selling them.

The journal interviewed Dan Depew, Country Representative of the 18th District, who put it this way. “You can’t just ride into town, stay in a motel, and announce that you’re buying gold. Because, now you have stay in the county a while, and you have to register and undergo that background check.”

Police Chief McCann believes that the new law can be a win-win for everyone, saying that if pawn shops and jewelry buyers work it into their practices, then they can be sure that the police know they’re on the right side of things. McCann also added that residents can take steps to protect themselves. “Everyone [should maintain] a good record of the piece of jewelry, or property of any sort that has a value, or that they think is important to them. A photo is good, but if there’s some marker on the property that is known only to them, so they can ID that piece of jewelry, then that’s a great help to us in recovering things.”

Your Confidentiality & Security

With increased business being conducted by buyers and loan providers of gold, jewelry, diamonds, and watches, consumer concerns have been raised regarding personal confidentiality, as well as public security. In response to these concerns, and to clear up any potential confusion, we at the San Diego Luxury Pawn Shop Report thought it would be good if we laid down the kinds of security and confidentiality polices that your jewelry buyer or pawn shop should have in place. Read more

Selling Your Diamond Engagement Ring

San Diego Jewelry Buyers has updated its Knowledge section for sellers of fine jewelry, gold, diamonds, and watches with advice for consumers looking to sell their diamond engagement ring. “It is always a difficult and emotional situation when someone is thinking about selling an engagement ring or bridal jewelry,” says Alan Blyler, a spokesperson for San Diego Jewelry Buyers, “so we wanted to lay down some practical and personal things to think about before making a decision.”

On the personal side, San Diego Jewelry Buyers recommends that women who are in the process of getting a divorce should wait until the papers are signed before selling their engagement ring and other bridal related jewelry. Feelings among married couples often change at the last minute, and the prospect of losing an engagement ring and wedding band forever should the couple reconcile is something to remember. Customers in need of money immediately are advised to sell less sentimental diamond jewelry, or use it as collateral for a loan.

On the practical side, San Diego Jewelry Buyers informs potential sellers of diamond engagement rings that bridal jewelry which was appraised in the past for insurance purposes was valued at the estimated retail price. This price is much higher than what a customer can expect on the second-hand (used) jewelry market. Consumers who decide to get their engagement ring appraised before they resell it are advised to tell the appraiser that they would like a resell price estimate.

To read the rest of San Diego Jewelry Buyers’ tips for sellers of diamond engagement rings and bridal jewelry (as well as other timely advice on how to sell your gold, watches, and diamonds) please visit the Knowledge section of their website at:

http://www.sandiegojewelrybuyers.com/knowledge/jewelry/51-sell-your-diamond-engagement-ring.html

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Did you know that Mahama Ghandi had a favorite watch that he carried with him? It was a Zenith pocketwatch, and you can read about it at: Ghandi’s Watch Sold at Auction.

SDJB Sees Gold Rush Going Green

California (and the entire country) has seen a gold rush over the past year—with consumers cashing in on exploding gold prices to sell their outdated and unwanted gold jewelry to ease the burden at the pump, take a holiday, or modernize their fine jewelry boxes. But San Diego Jewelry Buyers reports that it is not just $900+ dollar spot prices for gold that is sending customers through their doors. They say that shoppers desire to “go green” is also a driving factor.

“The internet has made jewelry customers tremendously more informed,” says SDJB spokesperson Alan Blyler. “Not only do they know more about the 4 Cs of diamond quality and the intricacies of fine millgraining and filigree, they increasingly are aware of the ways that gold and diamond mining impact the environment. Today, many people come to us because they are looking to do their part toward recycling precious resources.”

The impact to Mother Earth in creating a single piece of jewelry is truly astounding. The production of one 18k gold ring is said to generate 20 tons of mine waste, while it takes another 250 tons of mine waste to process a single one carat diamond. The environment is also at risk from the cyanide used to separate the gold from the ore—which if not carefully disposed can make its way into streams, rivers, and groundwater.

The smelting process that removes gold impurities is another culprit. According to the Worldwatch Institute, an independent research center dedicated to environmentally sustainable living, the world’s smelters release more than 140 million tons of sulfur dioxide (13 percent of global emissions) into the atmosphere every year.

By selling unwanted gold jewelry (and platinum jewelry) which can either be melted down, refashioned, or resold to an interested buyer, consumers can help reduce the need to expand mining activity around the globe, especially in developing areas which often lack the safeguards for environmental protection. “With the burgeoning wealth of countries like China and India, there are millions of more shoppers seeking fine jewelry, which is putting added pressure on the gold and diamond mines,” says Blyler. “When customers sell their old jewelry, they can help relieve that pressure, and take us another small step toward a healthy planet.”

With only about 15% of gold consumption recycled each year, there is undoubtedly much more waiting to be refashioned again into exquisite jewels. To learn more about how you can resell and recycle your fine gold jewelry, platinum jewelry, and silver jewelry, please visit SanDiegoJewelryBuyers.com.

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Gold lovers will surely enjoy the gold jewelry of master goldsmith Gurhan Orhan. Check out our profile of this extraordinary designer at: Gurhan Orhan: 24K Gold Master Craftsman.

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