4 Reasons You Should Appraise Your Gold Jewelry Now

If your precious jewelry and heirlooms are damaged or lost, do you have what it takes to be protected? Will you be able to replace your piece or will you get what the piece was worth 20 years ago? Here are 4 reasons you need to appraise your gold jewelry right now.

1. Because of the price of gold: Up, up, and away!

Remember that small gold bracelet you got for your 16^th birthday? It may have cost $$40–$50 then…but today, it could be worth as much as $1,000. Take a look at how an ounce of gold has appreciated over the past 50 years:

1967            $35.50

1997            $287.05

2017            $1,213.20

2. Because the insurance company won’t take your word for it.

If your gold jewelry is lost or stolen, how can you prove to the insurance company what it was worth? If all you have is a 20-year-old receipt, you’ll get a 20-year-old amount.

3. Because it can help stop future inheritance fights.

Planning to give your children different pieces of jewelry? All too often, jewelry, heirlooms, and other valuables cause rifts among families. The gold ring that Big Sister gets may be worth twice as much (or more) than Little Sister’s gold locket. An appraisal can help you make sure everyone gets an equal share—and keep peace in the family.

4. Because you stand a better chance of getting it replaced.

Some insurance policies will replace your lost gold jewelry. When you have a professional appraisal describing your item in exact and extensive detail, you have a better chance of getting better replacement value if you do need to submit a claim.

The bottom line? If you insured your gold jewelry more than 3–5 years ago, the valuation may be wildly off-base. Just ask anyone who’s lost a precious heirloom and received only a fraction of its worth from an insurance repayment. It’s time to appraise your precious possessions right now.

As always, if I can help you update your jewelry and heirloom appraisals, let me know!

Brilliantly yours, Aimee