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Gold, Silver, Platinum: Collecting and Selling Precious Metals

06.17.08 By Val Ubell

As many of our readers know, I am an active seller on ebay, have a booth in an antique mall and set up at flea markets. I love to find unique items, especially advertising pieces, unusual bits of metalware, watch fobs, and jewelry. Ah, jewelry, that’s always difficult because I get attached to it and have a hard time divesting myself of its loveliness. But, most of the times I do let go. There are times that I wear it for a while, then sell it. But please do not tell my friends who think I have an ‘endless supply’ and copious amounts of “bling.”

The values of gold, silver and platinum have skyrocketed as of late and we see ads all the time saying ‘we’ll buy your old jewelry, watches, coins’ – followed by testimonials from old ladies who sold their unwanted ‘family jewels’ for a lot of money. They boast of huge profits from selling off brooches that had not been worn for years, long-forgotten pocket watches and rings that were sitting in the drawer. While I do understand that in today’s economy we can all use some extra money, it still makes me sad to think that most of it will be melted down for the precious metal content. It makes me recall my inheritances from family members that have passed on and how I love wearing them and sharing stories of family to anyone who will listen.

My first piece of ‘valuable jewelry’ was from one of my favorite aunts, Aunt Marion. Her husband, Fred, was my dad’s brother and when I graduated from high school, she gave me a beautiful aquamarine ring! Marion had an ‘elderly/spinster’ aunt who was perceived as being dirt poor. Marion and Fred would take her groceries every Sunday and have her over for dinner on a regular basis. She lived in a small one bedroom apartment and when she died, they went to straighten things out. It turns out that she was not that ‘destitute’ after all but had squirreled away a lot during her lifetime. Included in her ‘estate’ were two mink coats, one with tags on it, numerous expensive ball gowns and box after box of jewelry! Many of the pieces were top quality. Marion and her sisters were the only heirs and items were distributed equally. I treasure this stunning ring to this day and always smile when I retell that story!


Another piece that was passed on to me was this gorgeous ring from another aunt, my mom’s sister, Molly. This was her engagement ring, which we were told was made especially for her by her husband-to-be’s uncle, who was a jeweler. The little cameo has been replaced because it cracked and crumbled, but it has a truly beautiful setting and the heart always reminds me of her. She was a charming lady!

This ring came from my husband’s Aunt Dayla. She had a very interesting life. She married very young and hubby died in the military service in WWI. She remarried and he, too, passed on quite early. He left her an insurance policy which was the first real money she’d ever had. So, she bought a mink coat, this diamond ring, and a few other baubles, then, alas, was ‘poor’ again. She married a third time and that lasted over 50 years. The great irony is that when he saw her all ‘gussied up’ in her mink and jewels, he thought she was rich and began courting her – only to his surprise down the road! She was always very nice to us and when she became sickly, at age 90, she told my mother-in-law that I should have the ring. And I wear it proudly, often with a smile for the lady with the three husbands.

My plan is to pass these on to my daughters and will be sure to include the stories!

I had a decision to make a while ago regarding a cane I purchased at an estate sale. It had a gold-filled top with a well-known symbol of the Masonic Fraternal Group. It was dedicated to a Lodge Member, a presentation piece, with a date from the early 1900s. A friend in the business said I could get $250-$300 for the top by selling to a coin shop. I was tempted, but instead listed it on ebay. I wanted it to go to someone who would appreciate it for the fact it was from the Masons. While I did not realize the top-dollar my friend suggested it was worth, I found out it was going to a Lodge member and that made me very happy.

I recently purchased this incredible Victorian slide necklace. As is common, I thought I would wear it a few times, then list it on ebay. But when I got it home, I noticed the dedication on the back. It reads “From Theodore July 3 ‘78.” And that was 1878! I wondered about Theodore and his girlfriend or wife. Were they married? Was this an engagement gift? Was July 3rd a special date for them, perhaps a birthday or anniversary? How could someone sell this rather than passing it on to the next generation? And also, how can I sell this knowing it will be put into a melting furnace and lost forever? These are questions I will never have the answers to. This purchase has presented a bit of a dilemma. In actuality, it means nothing to me or my family. I have no ‘moral obligation’ and should have no problem with selling it for profit. And yet, I am reluctant do so.

So, while I appreciate that I can make some money from the sale of this necklace, I think I’ll hang onto it – maybe I should make up some incredible, epic love story for the ‘folks to follow’ about this being a gift from a great-uncle to his fiance. They’d enjoy that.

 

 

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2 Responses to “Gold, Silver, Platinum: Collecting and Selling Precious Metals”

  1. Deanna Dahlsad Says:

    Couldn’t you just cry at the idea?! How horrid to melt down the memories & the designs!

  2. Val Ubell Says:

    Yes, it does make many of us sad. These will be lost forever! But these are ‘desparate times’, many folks are thinking of the now.

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