antiques
Island Life - April/May 2010
Antiques and Collectables -
After the Gold Rush
By Philip Hoare - F.T.V.I
It is during difficult financial times,
moments of monetary crisis when markets
collapse and banks lose their infallibility
that people turn to that ever popular
metal for investment, one that holds its
value in recession and keeps the pounds,
dollars and yen safe and valuable: GOLD!
Over the last two years, during the
economic downturn, there has been a
sharp rise not only in value but in the
purchase of gold for investment. Due to
its relative scarcity gold has always has
a significant value within societies; it is
highly regarded and has been since the
beginning of recorded history. It can be
used as decoration in embellishments
for ornamentation and for sculpture and
jewellery. Until recently most currencies
were backed with gold reserves. Between
1999 and 2002 our then Chancellor of
the Exchequer, Gordon Brown and now
our Prime Minister sold off half our
reserves – a most regrettable decision.
What a pity he did not have them now!
The Bank of England would not have had
to print all that extra cash!
It is important to realise that the value
of gold bullion usually remains stable
but the price of objects containing gold
fluctuate not just with the carat quality of
the gold itself but also as a result of the
workmanship and whether the piece is
embellished or inset with precious stones.
For example, if you had a gold ring you
would expect that it would realise at least
the intrinsic value of the gold contained
within it. Perhaps true for a plain gold
band, but it is what is contained within
the gold including its provenance
that is of importance. Your ring may
Visit our new website - www.visitislandlife.com
contain a gem stone, or be enamel
newspapers, of people receiving paltry
decorated, and the ring itself could hold
sums for their gold or not being paid
a story of ownership that would seriously
anything at all. Always take professional
increase its value. It would be very easy,
advice before sending your gold off to
for instance, to part with a heavy 19th
strangers by contacting an established
century gold ring inset with gemstones
Jeweller or professional Valuer.
for a few hundred pounds when its true
But beware, remember the old adage
value would be several times more than
'when in doubt check it out'. Don't send
its scrap value. A gold ring, you see is not
off your gold jewellery you might regret
just a ring of gold!
and receive only a fraction of its true
At the moment due to the depressed
value - it might be a rare antique or even
economic climate there are many
worse nothing at all. Everyone seems to
advertisements, in which the man or
have jumped on the 'Gold Wagon'. I am
woman on the television screen promise
surprised there aren't gold buyers in all
you cash for your unwanted gold. They
the supermarket chains.
even make it extraordinarily simple
I have arranged for a specialist jewellery
for you to give away your treasures by
and silver valuer who will give free verbal
sending you a stamped address envelope
valuations every Friday between 11am
with the plastic bag for your belongings.
and 3pm at 'Rooms at the Top' 12 St
It is vitally important that, before you
James Street, Newport.
go for the easy option and simply post
off your heirlooms, you should get a
Philip Hoare is a Fellow of the Trade
valuation or appraisal of your items.
Valuers Institute
How do you know that what you are
Mob: 07773 877 242
sending off isn’t worth a small fortune?
Email: [email protected]
There have been numerous reports in the
Tel: (01983) 523331.
77