the addition of silver, copper and other base metals for hardness.
Buying and selling of antique jewelry can be a hobby. I call a
collector any person who maintains more than 10 pieces. Jewelry
is not a good investment, but can be worn, enjoyed and gifted.
When buying or selling, the weight in grams must be taken into
consideration. The daily value of a gram of all carat gold is available
daily on the internet. Platinum and silver prices are also available.
Evaluation of diamonds started more than 2,000 years ago in
India. Natural diamonds are almost never white and can be any
color. Diamonds found in most jewelry are usually graded G, H,
I, J in color. Diamonds graded K have a hint of yellow. (It may be
helpful to remember the German K for color.) There are no ABC
diamonds and DEF diamonds are difficult for professionals to grade.
The clarity of a stone is equally important. Are there inclusions,
surface irregularities, or other flaws that can be seen by the unaided
eye or at 10X power? The size and cut of a stone is less subjective.
The type of cut can date the diamond as well. Early mine cut di-
amonds are shaped to save as much of the stone as possible and
to trap light. More modern stones are cut to reflect light. Colored
diamonds, especially yellow and blue, can be more valuable than
white stones. A working knowledge of how diamond weight and
quality affect value is also needed when either buying or selling.
While diamonds are best viewed when loose and from below, the
appraisal will usually be done in the setting.
Knowledge of the value of gemstones is even more subjective
to me. Sapphires and rubies are next in hardness and value to the
diamond. Sapphires can be any color but red. A ruby is a red sap-
phire. The 5AAAAA natural white sapphire is the best diamond
substitute in my opinion. Many people place the emerald equal to
the sapphires. An emerald is a much softer gemstone compared
to others such as sapphires, and because of this emeralds are not
as well suited for daily wear. A better choice for a ring would be a
green spinel.
Gold is yellow. The extremely rare instance of the natural blend
of gold and silver produces green gold. White gold is an alloy with
silver that when antique will turn yellow. Rhodium plating may be
a good short-term fix. White gold jewelry became popular when
platinum use was restricted during WWI. Platinum jewelry was
not made during most of WWII as it was needed for the war ef-
fort. Both golds are of equal value. Platinum sells at a price about
equal to 24k gold. Remember, platinum dents and is hard to polish.
Platinum is about 4X harder to size as well, making it not a good
choice for a man’s wedding ring. Both yellow and white golds are
softer. Therefore, scratches are easy to buff and the ring easier to
size. However, white gold is slightly harder than yellow gold and is
often used for settings on yellow gold rings. White gold may also
be used for setting diamonds to avoid adding yellow color.
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known to me, bracelets sell for about three times the gram value of
the metal. The gram value of the gold, platinum or silver must be
determined before buying or selling. This will determine the melt
or scrap value going forward in an estate. Diamonds are expected
to maintain value. This is less true of other stones. Be aware that
birthstones are added to the list on occasion and are not the same
in all countries. Stones most recently added to the birthstone list
will sell for more than their long-term value. Tanzanite is the newest
birthstone for December and is a hot seller. As expected, a major
jewelry house is trying to corner the market. At last count, our
country has 25 birthstones.
The true value of antique jewelry above the melt and the stone
value may be determined by whether or not it was handmade. This
will include the majority of jewelry made in the 19 th century and up
to WWI. A skilled and experienced bench jeweler can mend, repair
and size most pieces. Rings well-worn can have their entire shank
or worn part replaced. Chipped diamonds and inclusions can be
placed or hidden in the setting in a way to be less detectable. Any
family piece of actual or personal value should be evaluated by a
trusted bench jeweler before being sold for scrap.
NOTE: Thanks to my dear friend Melvin Moore, a retired master
bench jeweler, for his kind support.
Dr. Henderson is the clinical professor of the UofL School of Medicine, Department
of Pediatrics.
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Maybe we are now ready to buy or sell used, estate, vintage and
antique jewelry. First, have in mind what we are planning to buy
or sell. Gold rings may be worth twice the value of the setting plus
the value of any stones. I usually pay 80% of the value of the gold
and my estimation of the value stone. If an appraisal is available, I
may pay 80% of one third of the estimated value. For reasons un-
Contact Michele R. Graham, CPA, MST
800.880.7800 • www.hsccpa.com
Louisville, KY • Evansville, KY
Parent of HSC Medical Billing & Consulting, LLC
JUNE 2019
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