What Should You Do With Grandma’s Old Jewelry? Sell It!?

POSTED ON February 20, 2021
What Should You Do With Grandma’s Old Jewelry? Sell It!?

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inheriting gold jewelry from grandma

What should you do with jewelry you inherit but don’t want?

It’s bittersweet scenario: your grandmother passed away, she passed onto you her prized-possessions. Or maybe she’s downsizing and gifting old jewelry to you and other important people in her life. Whichever the case, it’s tough to know what to do with it.

Many times these are heirlooms you remember her wearing, that sapphire-and-diamond brooch — now more of a reminder of her painful absence.

You never really wore it out of fear of losing its pin or breaking its delicate gold setting. Instead, you kept it in a box in the back of your closet, in part for safekeeping — but also to keep those sad feelings out-of-sight and out-of-mind.

After some time, the memories and grief have abated, so you pull out your inherited jewelry. While the memories are nice, keeping the expensive reminders isn’t really serving anyone. And with gold and precious metal prices being what they are, you know this old jewelry could be worth a great deal. And yet, you know that you will never wear it and probably just leave it collect dust in your attic.

It might be time to let go of that inherited jewelry.

Deciding to Sell Your Inherited Jewelry

You might be wondering: “Is it alright to sell inherited jewelry? Would grandma be insulted?”

There is no need to feel guilty about selling your grandmother’s (or grandfather’s) jewelry. Keep in mind that she left you her accessory because she trusts you with what to do about it. Unless your grandma left you a note explicitly saying that you shouldn’t sell them, then it’s perfectly fine to sell these items.

Besides, if you are not planning to wear them ever, what’s the use of storing them for a long time and letting them collect dust?

When your grandmother gave it to you, it meant that she wanted you to be rewarded with the jewelry. Trading it for money is also one way of extracting its value. In fact, your grandparents would be happy to help you financially!

It also doesn’t mean you need to sell everything that you inherited. If there is a special piece of jewelry you closely associated with someone that was gifted to you, it may make sense to keep a couple sentimental items and then sell the others that don’t have strong emotional ties.

Other Factors to Consider Before Selling Inherited Jewelry

You can check with other family members if they have a desire to keep the jewelry. But also remember that once your grandmother gave you the heirloom as a gift, it completely belonged to you. You have all the decisions with what’s going to happen with it. And you want to make sure they don’t want it just because they realize it’s valuable too.

Once you have made up your mind about selling your estate jewelry, you want to be sure that you do it in the best way.

What’s the first thing you must do? Get your inherited item evaluated, personally and professionally. You want to be sure that you’re receiving your money’s worth and not letting go of your loved ones’ valuables for less than their value. 

So, how do you know what the jewelry you inherited is worth?

The Keys to Selling Gold Safely & Successfully

Before taking it to any shop and selling it, it’s always a good idea to inspect the jewelry yourself. Follow these steps to get the most out of your estate jewelry.

1. Check for Paperwork

If an heirloom has been passed down for a long time, it is unlikely that one of your family members still has the original paperwork and certifications for the jewelry. Ask around your relatives about the paperwork. If you can find it, this can easily guarantee its authenticity and value.

This is only important if you believe the item is collectible and would sell for a premium on the value of gold. In most cases, this isn’t the case.

2. Identify What It’s Made Of

If there’s no way to certify its components, you can inspect it manually. Metals typically have markings on the inside of the jewelry to indicate what kind of metal was used. 925 is sterling silver, 10k, 14k, 24k all relate to the amount of gold used, etc. 

3. Store it in its Original Packaging

Include the packaging in the appraisal to increase the piece’s value. Especially if it’s from a luxury brand, the packaging will make it more marketable. 

This is only important if you believe the item is collectible and would sell for a premium on the value of gold. In most cases, this isn’t the case.

4. Clean and Polish the Jewelry

Before you take it to a shop, make sure that you’ve cleaned it free from dust and dirt. Still, be careful with following DIY cleaning methods. Or better yet, have it cleaned by a legit jeweler. Again, this is really only important if you’re trying to sell a premium piece. Otherwise, just remove the dirt and dust with soap and water.

5. Get the Melt Value

Ask an expert for the jewelry’s “melt value,” which is what the metals in the piece would be worth if it were melted down. This can give you an idea of the price they should be sold at. Unless you have a truly special, collectible piece, thanks to the increase in gold prices over the past couple decades most gold is priced at its melt value. At Cash for Gold Mailer, this is generally how we price most gold. You can use our cash for gold calculator to determine the market rate for your gold.

6. Check the Gem Grading Report

The Gemological Institute of America gives birth certificates for real gemstones. If your item has sapphires of diamonds, you can get this report first and present it to your dealer.

7. Appraise It With Multiple Dealers

After you completed your personal and expert appraisal, take your inherited item to two to four dealers for estimates. They can also help you determine the purity and weight of your gold if you aren’t able to determine it for yourself. Once you know these factors, you can then calculate the melt value (step 5) to make sure you’re getting a good deal. Once you have multiple offers, you can negotiate or sell it to the one that offers you the best deal.

At Cash for Gold Mailer, we post our cash for gold prices so you can see how much cash you’d receive based on the quantity of gold you have to sell. If you get a couple offers from local pawn shops, you may be surprised to learn how much we pay. Here’s how we’re often able to pay more!

Where to Sell Your Inherited Jewelry

A lot of the time, people with inherited jewelry simply sell it to their local antique or estate jewelry shops. Other times, they have a trusted jeweler or personally know someone who has a personal hobby of buying fine jewelry.

Sure, selling it to your neighborhood jeweler is an easy way to get your hands off the antique jewelry, but the risk of getting paid below the jewelry’s actual value runs high. Be sure to check online reviews, complaints, and customer ratings before doing business with anyone. And it’s always a good idea to understand what your gold is actually worth before selling it to avoid getting paid much less than it is worth.

According to a merchant interviewed by Fox13now, consumers should expect to receive between 30-60% of the actual value. And that’s coming from someone who is publicly stating price estimates – as you may imagine many pawn shops will try to pay you even less.

That’s why we try to make the gold selling process straight-forward and simple. We post our prices, pay everyone fairly, and take the awkward negotiation out of the process.

Selling it Online

Selling gold online is actually one of the fastest and easiest ways to sell inherited jewelry. Unlike transactions with a local jeweler, where you only have one dealer making you an offer, online cash for gold companies are able to engage in more transactions and operate at scale.

View our prices now!

There can sometimes be some trepidation around mailing gold, but it couldn’t be safer! With our discreet packaging and fully insured service, you aren’t at risk of losing the value of your gold. And if you aren’t happy with our offer, we ship your gold back safely and securely again.

Still Unsure About Selling Your Grandma’s Jewelry?

Selling your grandma’s jewelry takes a lot of decisions before you actually do it. Selling her old gold doesn’t mean that you are disrespecting her by putting her jewelry to good use. Getting its monetary value is more honorable than a rusting and neglected item in your storage box.

At the end of the day, just remember — your grandmother will be happy with whatever decision you made, as long as you think it’s right.

Ready to get started? Request a free gold mailer kit now and take the first step to seeing how much money you could get for your gold.

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