According to a report by CBS News, if you had invested in gold at the beginning of 2023, you would have seen about 68% growth by March 2025 [1].
Gold has been the hot commodity as political instability, inflation and tariffs have rocked the stock market and caused investors to divert their money into safer avenues.
While Nora’s grandmother was not a big-time investor, she did amass an enviable jewelry collection. Now that she has died, Nora discovered that in her will her grandmother left the majority of the pieces — some of them very valuable — to her. Nora is no expert in jewelry or the commodities market, but she knows the collection is worth several thousand dollars. She wants to make the most of this unexpected windfall, while also respecting her grandmother’s legacy and ensuring that she doesn’t part with anything of great sentimental value to her family.
Here’s what to consider when your inheritance comes in the form of financially — and emotionally — precious assets.
“We’re seeing an increasing number of people — mostly regular individuals and families, not investors — selling or melting old jewelry to access quick cash while the market is strong,” Tim Schmidt, founder of Gold IRA Custodians, said in an interview with CNBC in April [2].
“For some, it’s a way to cover urgent expenses; for others, it’s an opportunity to capitalize on long-forgotten pieces that have suddenly become far more valuable than they were just months ago,” he explained.
Right now gold prices stand at about $3,700 (per ounce), continuing to set record highs. For those with gold jewelry in the vault or simply in their jewelry box, it may be time to think about turning these pieces into cash. But doing it smartly requires some research.
“It can be a smart move for those needing immediate funds, but not every piece should be melted down,” Schmidt said.
“Items with historical or artistic value, like family heirlooms or antique jewelry, may be worth more in their original form than as melted metal.”
Therefore, it’s worth consulting a reputable jeweler or appraiser before you consider selling. You should also check the spot price of gold online before you consider bringing it to a local shop to sell. If you have gold in the form of bars or coins, you should also beware of high trading costs, and understand what these will be before you decide to sell. Since the marketplace for gold is so competitive right now, it pays to consult a few shops and do some online research so you can find the best price for your trade.
As for timing, there’s no guarantee these record highs will last.
“My view is that gold hit an interim peak, which should hold up at least into the fall,” Jordan Roy-Byrne, founder of The Daily Gold, told CNBC [2].
So, now might be the best time to sell if you need ready cash. Just be aware that you may be taxed on your sale if you hold a substantial amount of gold. Federal long-term capital gains taxes on collectibles can reach 28%, and the IRS considers physical gold like jewelry, coins or bars to belong to this category.
Read more: Rich, young Americans are ditching stocks — here are the alternative assets they’re banking on instead
As for Nora, in addition to doing her research to understand the value of her grandmother’s jewelry — both financially and sentimentally — she should also understand how she wants to use the inheritance to best support her financial goals. Once she is clear on how much her inheritance is worth, and how much she is likely to pay in taxes, she should consult with a financial advisor to determine the best plan for investing and spending this money.
In brief, she should:
Keep the facts of her inheritance to herself as much as possible, as she may be subject to jealousy, bad advice or both.
Keep the jewelry secure in a safety deposit box or similar secure storage.
Have the jewelry appraised for both resale value and replacement value, and be sure to get two or more opinions on its worth, especially if many of the pieces are antique.
Decide which pieces are family heirlooms, and will not be sold, but kept or given as gifts to other family members.
From there, it’s important she get unbiased outside advice from a financial professional about how to best use the money she would gain from selling whatever gold pieces she decides to part with.
Stay in the know. Join 200,000+ readers and get the best of Moneywise sent straight to your inbox every week for free. Subscribe now.
At Moneywise, we consider it our responsibility to produce accurate and trustworthy content people can rely on to inform their financial decisions. We rely on vetted sources such as government data, financial records and expert interviews and highlight credible third-party reporting when appropriate.
We are committed to transparency and accountability, correcting errors openly and adhering to the best practices of the journalism industry. For more details, see our editorial ethics and guidelines.
[1]. CBS News. “What to know before investing in gold in 2025, according to experts”
[2]. CNBC. “Here’s what experts say about selling gold jewelry for cash”
This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
