If you want to own gold, buy jewelry

by Dawn Pennington on January 12, 2016

Mining stocks lost some $1.4 trillion in wealth last year.

And unless you’re buying call and put options to profit from quick up-and-down moves like JR Crooks does in Natural Resource Options Alerts, chances are that a chunk of your nest egg is part of that trillion-dollar-plus figure.

We don’t have high expectations for the miners. Like oil producers, they’re suffering under the weight of a rough market for commodities, more debt than incoming dollars, and not enough salary money to go around to get their resource out of the ground and into the marketplace.

I’m more of a silver fan than a gold bug myself. And I’m sitting on a lot of silver jewelry that is worth about half of what I paid for it (if that). My advice? Put it on your fingers, or around your neck/wrist … and enjoy what you own.

Yes, jewelry in pristine, never-worn condition will appreciate the most. But what’s the point of getting that emerald birthstone ring set in platinum that you waited your whole life for if you can’t wear it for more than 10 minutes at a time?

(True story: I lost mine moving from Maryland to Florida. I should have worn the darn thing.)

I might never have parted with that ring for cash unless I was in a dire situation. But it would have been wonderful to know that I had something of value in case I needed it. And it would have been wonderful to have enjoyed it while I had it.

My advice for those of you who are lucky to have your favorite sparkly things — keep the original boxes, don’t engrave the jewelry unless you do plan on keeping it forever and keep in mind that metals are more valuable than gemstones because they can be melted down to make something new whereas gems can only get smaller if you alter them. Oh, and keep them somewhere safe when you aren’t wearing them so you can actually take my advice!

{ 1 comment… read it below or add one }

Steve R` March 4, 2016 at 8:08 am

My advice is to not just wear silver but use silver in the form of sterling flatware. That’s right- spoons, forks, knives, etc. You work hard for your money and you should treat yourself to something better than common stainless steel or plastic when you eat. Always. You can get used sterling for very reasonable costs. Every time you use a sterling spoon you will marvel at its beauty and form. You can mix and match different patterns for fun. Even less costly is silver plate which is coated with real silver. You still get the look of silver and its heath benefits of being anti bacterial. Just keep it out of the dishwasher.

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