How to declutter jewelry

One of the last holdouts of my own personal clutter collection is a small selection of gold jewelry that I either bought or received as gifts over the course of my younger days.

I have no use for any of this stuff anymore.  In the past, I loved these objects.  Back when I was in middle school, gold necklaces were all the rage, and I wore one daily as well as a gold charm in the shape of an anchor (I know… I thought I was a pretty badass 12 year old guy).  Later on in my last year of high school, I also got a big fat class ring just like all the other seniors in school.

I enjoyed these accessories at the time, but after a certain point I felt ridiculous wearing them.  And as I got older and less inclined to care what my non-friend peers thought about me, I realized that I preferred not to have random stuff hanging off of my body.  In my current adult iteration, I wear no jewelry other that my wedding band (which I wear at times only as a courtesy to Mrs. Lite).  No necklaces, no wristwatches, no earrings, no other rings.  Nothing that dangles.

In recent weeks, I finally got the nerve to collect up this jewelry I had been clinging on to for all these decades and was determined to find a way to get rid of it.  Since all these pieces weren’t cheap to acquire, I didn’t want to just put them in a donation box and give them away for free.  I considered taking everything to a pawn shop, but I’m not familiar with pawn shops and have frequently heard that it’s easy to get ripped off.  eBay or Craigslist were options, but that seemed like a lot of hassle for something that probably wouldn’t sell quickly, if at all.

The option I settled on was a place in Michigan called Midwest Refineries.  I found out about this place by doing a quick search on “how to sell gold” on bogleheads.org.  Several people have had positive experiences with this business, so I thought I’d give it a shot.

I packaged everything up in a small box and shipped it using UPS.  2 day shipping cost me about 10 bucks.  If I were sending a large amount of gold I would have insured the shipment, but for such a small amount I opted not to.

Within a week of shipping my box of jewelry, I received a check in the mail and an analysis of what I sent:

At first when I saw this, I thought it was a mistake.  I was expecting, at most, a few hundred dollars.  Certainly not anything in the 4 figure range.  I found it impressive that they paid out 90% of the total silver value and 95% of the gold value in my shipment which is better than anything I would have gotten from a pawn shop or one of our local “we buy gold” places.  I promptly took my newly acquired $1020 and invested it into some Vanguard Total Stock Market Index Fund to contribute to our early retirement goals and further reduce my dependence on my day job.

If you have a pile of old jewelry that you never plan on wearing again, then consider selling it.  My experience with Midwest Refineries was a good one, though I’ll likely not ever have the need to use them again since I no longer wear jewelry.

 

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