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Silver Investing in Tough Times?

August 5, 2009 by Administrator · Leave a Comment 

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Over at The Faster Times, journalist Andrew Myers investigates whether or not silver tableware, bowls, pitchers, teapots, trays, and jewelry are a safe spot for investors to stash their cash during turbulent financial times. Myers says that if we look at silver as a precious commodity, there’s longstanding precedence pointing to: Yes. Read more

More Folks Turning Gold Jewelry into Cash

February 25, 2009 by Administrator · Leave a Comment 

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More Californians are taking advantage of a jump in the price of gold to turn their old gold jewelry into cash, says the Santa Cruz Sentinel. The price of gold, which rose to $1,000 an ounce last February and March, then dropped to the mid-$900s, is back above $900 an ounce, sparking a gold rush.

The newspaper article mentions that Santa Cruz Pawn is the only licensed and bonded pawn shop in the city of Santa Cruz, and that it has been in business for more than 10 years, paying cash on the spot for jewelry that might be damaged, missing pieces or just not your style. Bruce Pedersen, owner of Watsonville Pawn, says that most people don’t know that they can come to a pawn shop to sell their gold jewelry. This is unfortunate, since Pedersen said that when he called the “cash for gold” phone number advertised on television, he got referred to another phone number, where he found the voice mail full and no longer taking messages.

Pederson also stated that the $900 per ounce advertised price quote is misleading because it applies only to pure 24-karat gold. Most gold jewelry is 10 karat or 14 karat, so it is worth less, he said. For example, 12 karat is 50 percent gold so the price could be $450 an ounce, half the rate for 24 karat gold.

Other advice worth remembering is that “if it’s gold over silver, it’s worth less,” says Michael Craig, owner of Monterey Bay Estate Jewelry and Antiques, explaining that silver is priced at $12 an ounce.

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While people of all walks of life are turning gold jewelry into cash, the opposite is true too. Many people are now turning cash into gold, seeing gold as one of the few secure investments in this volatile economy. To read about the cash to gold trend, go to this article: Record Sales for Gold Bullion and Coins.

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

November 25, 2008 by Administrator · Leave a Comment 

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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

SDJB Sees Gold Rush Going Green

September 22, 2008 by Administrator · Leave a Comment 

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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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