via Castanet: Seller beware when it comes to old gold and jewellery

Inflation and high interest rates have people looking for money in different ways.

According to Premier Jewellery and Loans in Kelowna, more people seem to be rummaging through old jewellery boxes and stopping by the shop to help make ends meet.

“We have definitely seen a large increase in clients coming in. It could be post Christmas, it could be the effects of inflation or possibly a recession coming. But we have definitely seen an increase,” said owner Martin Strasser.

“You have gold, diamonds or watches sitting in a box and now you have a bill that’s due or inflation is hitting you. Your money doesn’t go as far as it used to, so you want to find a way to stretch those dollars.”

Premier Jewellery and Loans loaned Castanet two pieces of jewellery and a gold coin to help in a market assessment of local and pop-up jewellery buyers.

Premier provided a 9.61 gram 10K yellow gold ring, an older style engagement ring with 18K gold and 0.42 carat diamonds and a one ounce Canadian gold coin .

Castanet took the same two rings and the gold coin and had them appraised at Canadian Jewellery Exchange in Kelowna and GLK Gold, a pop-up buyer that visited the city last weekend.

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