This past Monday saw the largest ever gold price drop. It did start to rise again on Tuesday. This is probably all my fault. I had a piece of 22K gold cast on the previous Wednesday, when gold was $1500 something, and sold all my scrap gold on Monday during the drop at $1390. So of course it went back up.
This got me thinking, how significantly does a drop or rise in gold price like that affect the price of a piece of jewelry? A $125 drop makes the price of 14K gold jewelry change approximately $6-$9 a pennyweight. A ring may weigh 1 to 5 pennyweights. The price drop was, however, short lived, so it will have little ... VIEW FULL ENTRY
With everyone selling gold and silver these days, we occasionally get a piece that we won’t make an offer on and instead offer to broker it.
Why do we do this? Partly, we do it to get you a better price for an item, and partly because we hate to see some pieces just melted down. We broker an item by taking the jewelry to multiple estate buyers and returning with the item and the best offer. These are companies that buy for reselling an item rather than scrapping the jewelry for metal content. Since we have a definite offer on an item that is over scrap v... VIEW FULL ENTRY
At the shop, all of us have designed one-of-a-kind jewelry. Very often we are using a customer’s gemstones for such projects. It starts with a design, requires a one-of-a-kind model to be made, and from that, the piece to be cast, the stones to be set, and the piece polished. It costs a little more to do things this way, but it creates a wonderful, unique treasure that will fit some of the beautiful gems a client may have.
Sometimes you just want a classic piece; a sapphire and diamond ring, for example. For this you can come in and just buy from what a jeweler... VIEW FULL ENTRY
The four main jewelry metals are platinum, gold, palladium and silver. They have long been treasured due to their rarity, malleability and with the exception of silver, their resistance to corrosion. Precious metal prices have been on the rise and although they are the best option for most jewelry applications, a number of designers have started designing in “alternative” metals such as stainless steel, titanium, tungsten, and cobalt chrome.
The biggest disadvantages to alternative metals are the difficulty of working the piece, the inability to size or a... VIEW FULL ENTRY
This is my first blog and something I’ve been meaning to do for a few years now. I plan to use this space for informative tips and info and will gladly answer any questions the readers may have.
One thing we’ve noticed is that we have seen some damaged silver hollow ware and flatware come in for polishing recently. It is a good idea to store silver that is not being used for display in flannel bags treated to resist tarnish. An alternative is to store items in a ziplock bag with tarnish preventing strips. Never wrap silver in cling wrap or store it in a hot attic. It is best to store silver in a cool dry place. Also remember to empty and rinse out silver salt shakers and cellars after use. Salt damages silver and will leave a pitted appearance if left in too long.
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