Just about everyone has possessions with personal or sentimental value beyond what the market might say they’re worth. When you really think about it, that’s basically how we assign value to everything; I place greater value on a cup of coffee than having a spare couple of bucks in my pocket, so I buy a coffee. The coffee shop would rather have my change than the capacity to produce one extra cup of coffee, the beauty of the free market ensues! But what about “sentimental gold”?
Many people end up with old gold jewelry that has been inherited in some way or another, and most of it will be forgotten in a drawer somewhere. A good way to decide whether these items are worth holding on to or not is to separate them into three piles:
First Pile: These are sentimental items that have been handed down through your family for generations, or perhaps they have some very significant meaning behind them. These are items that you would never part with at any price. Keep them aside and make sure they end up somewhere safe.
Second Pile: These are items that you know have value, but you’re not quite sure how much they’re worth. They might have some sentimental value, but are likely worth a fair bit of money as well, and depending on how much you can get for them, you might consider selling them. It’s worthwhile having them evaluated so that you know what they’re worth, but don’t take the decision to sell lightly, once they’re gone, they’re gone for good.
Third Pile: This is the stuff you know that you want to get rid of. It’s that ugly old damaged jewelry that’s been sitting around collecting dust. You know that it won’t be worn and it’s just taking up space. These are the items that you just might be surprised by how much they’re really worth. Old ugly gold jewelry is often of high quality and heavy, containing a great deal of gold content. If you were to sell it to a gold buyer you’d be receiving payment based on that gold value, not the way it looks.
That’s it! Bring the second and third piles into a Canada Gold Buyer location to have them evaluated, ask for the two piles to be priced out separately so that you can decide whether it’s worthwhile selling one or both. There will be no obligation to sell and the quote you receive will be based on the best market gold price in Canada from the past three days.