Buying Gold Jewelry

Video Transcript

"Hi I'm Judy Carrier with Jewels by Park Lane, and I'm going to talk to you about buying gold jewelry. It's as simple as what it implies. You're going to pay somebody money, you're going to get gold jewelry back. Well what are you going to get for your money? First of all if you deal with a reputable firm, whether it's a jeweler, a wholesaler, something you find on the Internet, or you buy through the mail, a catalog order. Make sure that the firm that you deal with is reputable. That they have a long standing reputation. Make sure that whoever is selling to you can give documentation of what you're buying. For instance, you want to know what the weight of your gold jewelry is. If you're buying it as an investment, you want a higher karat weight. You're going to be getting 18K, 20K, 22K, 24K gold jewelry is of course the purest gold. And if that's the reason you're buying, for an investment, go for the gusto. If you're buying, because you want something pretty to wear, go for style. You still want to have a nice quality, good color, you can get that with say, anything from 10K on up, 14K and 16K is very, very durable. So you can feel comfortable wearing the piece, and it won't break. As you get into 24K, 22K gold, it's too mailable to wear comfortably. That's more of an investment, and a special occasion. But something you're going to wear all the time would be in the fourteen, to sixteen karat range. So decide what you want out of your jewelry, and then make sure whoever you buy it from is accredited with the Gemological Institute of America, or can give you documentation as to the karat weight of your gold jewelry. Because that will make a determination as to how much you can have it insured for. And you should always insure your fine jewelry. And your insurance should include full replacement value, because what you buy now, for $200.00, will cost four times that in the future to replace. I'm Judy Carrier, with Jewels by Park Lane, and that's what buying gold jewelry's all about."