My cousin, who recently inherited all of his mother's jewelry and those of our grandmother, has sought my advice if he should sell all of them and buy gold bullion instead. As a very sentimental person, I wonder if he should do that. These are the only keepsakes that his mother and grandmother have left him. Can he bring himself to do that?
Of course, that would be the practical thing to do. Gold jewelry, even though used and of older design can still command a good price. If I am not mistaken, if sold to a jewelry shop, one would get 70% of market value, which is still high based on today's price of gold in the world commodity market.
It would also be a very wise investment decision to make as gold bullion is one of the best ways to preserve "wealth". However, I told him that this is not a decision for me to make since I am not the owner. He is an adult already, even though he may still be in college, so it really is up to him alone what he wants to do.
Of course, that would be the practical thing to do. Gold jewelry, even though used and of older design can still command a good price. If I am not mistaken, if sold to a jewelry shop, one would get 70% of market value, which is still high based on today's price of gold in the world commodity market.
It would also be a very wise investment decision to make as gold bullion is one of the best ways to preserve "wealth". However, I told him that this is not a decision for me to make since I am not the owner. He is an adult already, even though he may still be in college, so it really is up to him alone what he wants to do.
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