Evaluate These Topics Before You Sell A Deceased Family Member's Gold Jewelry

4 November 2018
 Categories: Shopping, Blog

One of the most difficult matters that require your attention when you're dealing with a deceased loved one's estate is selling his or her possessions. While you'll probably keep several things yourself, you can't take everything — and selling the items that hold value can either help to pay for funeral costs but can also raise funds to divide among the beneficiaries. Gold jewelry might be something that your late loved one amassed in considerable supply, so you'll be able to turn these pieces into cash without much effort. Before you move forward with selling, here are some topics to evaluate.

Items To Which No One Has A Connection

It's a good idea to evaluate each of the individual pieces of gold jewelry and attempt to understand their stories. Doing this with your siblings if you're dealing with a parent's gold is a good idea, as each of you may have different degrees of knowledge about the gold. Before you decide to sell something, it's ideal if you can rule out a piece of jewelry having a special connection to a surviving family member. For example, if your sister remembers buying gold earrings for your mother's 60th birthday, she may prefer to keep these pieces instead of selling them. When you identify the gold to which no one in your immediate family has a strong connection, you can set these pieces aside to sell.

Items That Belong To A Set

If your family member didn't keep his or her gold meticulously organized — for example, perhaps keeping some items in a jewelry box, other items in a safe, and other items in a bank's safety deposit box — you should definitely go through everything to search for items that belong to a set. For example, if you're selling a pair of gold earrings, you might not realize that there's a gold necklace that matches. Selling this trio together is apt to yield more money than selling the earrings separate from the necklace.

Items With A Family History

It's possible that you'll come across gold jewelry that has a deep family history — for example, a necklace or a watch that has been passed down through several generations. You may wish to keep this item in the family, given its history, and opt to have you or a sibling keep it in his or her possession. If you do decide to sell it, you'll want to get a fair price for it, given its age and significance.

For more information on getting cash for gold, contact your local pawn shop today.