As the price of the precious metal soars to record levels–over $3,350 per ounce–collectors and families alike have started rummaging through jewelry boxes, hunting for forgotten treasures that could be melted down for cash.
Jeff Clark, market analyst and creator of the website TheGoldAdvisor.com, notes that whenever the noble metal takes off, the same pattern repeats: people who own old jewelry suddenly realize they’re sitting on a small, potentially liquid fortune, ready to be turned into hard cash. According to Clark, many see gold pieces as “free money,” especially in times of high inflation and financial uncertainty.
In recent months, the value of this “safe haven” asset has risen by about 27%, driven by geopolitical tensions, trade wars, and increasing demand from central banks. Long regarded as a critical resource during crises, gold is once again playing a starring role in the lives of everyday consumers.
As reported by ArcaMax Publishing, a private U.S. company that distributes editorial content, Alex Arakeloglu, a sales associate at Capri Jewelry, In the heart of Los Angeles’ Jewelry District, sees dozens of clients walk in every day carrying bags full of rings, necklaces, and brooches they’re ready to sell. Many believe it’s the perfect time to cash in, especially as purchasing power continues to plummet.
Among them was Rosie Juda, a retired decorator, who entered the historic boutique “Jewelry by Olivia K” with plastic bags brimming with gold items that had belonged to her family for generations. Jeweler Olivia Kazanjian carefully examined each piece under a magnifying glass and even performed chemical tests to verify purity, ultimately valuing the collection at $9,500.
Kazanjian noted that the flow of clients has been growing steadily, but she cautions that some pieces should never be melted down, as their historical and artisanal value far exceeds that of the raw metal. In some cases, she explained, she prefers to redesign antique jewelry to preserve its memory.
The gold boom has also brought a breath of fresh air to independent artisans, who have been struggling with rising wholesale costs and import tariffs introduced by President Trump, which threaten to push the prices of metals and diamonds even higher.
As interest in gold skyrockets, so do the risks. In Los Angeles, a dramatic theft sent shockwaves through the sector: thieves tunneled through multiple reinforced walls and emptied the safes of the “Love Jewels” store, making off with around $10 million worth of merchandise.
While no one expects to get rich off grandma’s old earrings, the idea of earning a few thousand dollars from items that no longer get worn is appealing to many. Clark recalled that during past surges, some individuals even went so far as to ask funeral directors for permission to extract gold teeth from deceased relatives.
