Given the undeniable evidence of global warming and its origins in the world’s burgeoning carbon footprint, the need for recycling has become one of the leading issues of our times. However, while focusing our efforts on collecting and repurposing cardboard, paper and plastics, we are in danger of overlooking the environmental impact of mining operations to extract Precious Metals.
Best estimates suggest that we have mined more than 205-thousand tonnes of Gold since the practice began. While primitive mining operations produced no significant pollution, modern extraction methods are decidedly less eco-friendly. Minerals are a limited and diminishing resource. Every ounce of unwanted Gold or Silver that can be repurposed avoids the need to extract and process many tonnes of rock. It will help ease the growing threat to our endangered planet.
Of course, there is another more immediate benefit to be gained by recycling Precious Metals. Despite applications in electronics, aerospace, medicine and dentistry, 78% of the Gold mined annually is destined for use in the Jewellery industry. In the case of Silver, the demand from jewellers and all other relevant sectors is approximately equal. While we prize rings, bracelets and necklaces for their beauty, fashions change, and so do personal circumstances. When you possess unworn Jewellery items that you would like to get rid of for extra cash, recycling your old Jewellery is a simple and effective solution.
Precious Metals have long been a valued form of investment, albeit generally as Bullion bars or commemorative coins such as the iconic one-ounce Krugerrand and its Silver counterpart. However, their intrinsic value lies in the prevailing spot price regardless of their physical form. If you have some unfashionable Jewellery, selling it to a company that will recycle it could cover the cost of acquiring a more modern piece. It will also aid the fight against pollution. Even a damaged piece retains its intrinsic value.
However, take care when selling Precious Metals. The markup on new Jewellery can be as high as 300%. So, wherever possible, your best option is to part with older pieces, as the increased spot price will help offset this. You could also choose to pawn your items rather than sell them. However, a broker is not bound to lend a market-related sum, and if you cannot redeem them, you will lose them. It would be wiser to sell only to an authorised dealer to guarantee peace of mind and a fair market-based price for your valuables.
Second-hand Jewellery has become a significant source of Precious Metals when untapped resources are scarce, and the cost of extracting them is growing in parallel. It is also a valuable asset that can offer financial returns should the need arise. However, if you hope to realise its full potential, you must find the right buyer.
Gold Stock Investment is a trusted Bullion dealer, authorised to buy and sell Krugerrands and minted Gold and casted Silver bars. We also purchase Jewellery at spot prices as part of the worldwide drive to conserve Precious Metals through recycling and upcycling. If you have Jewellery to sell, feel free to check out our buying
prices and ensure a fair, market-related return from your sale.
Disclaimer: The information above was derived from reliable sources and deemed accurate at the time of writing. However, changes following publication may have affected its accuracy. Such changes may occur without notice and Gold Stock Investment cannot be held liable for inaccuracies in this article’s content or how a reader may choose to interpret it.
