It is undeniable that the cost of gold has shot up over the last few years, making the commissioning or purchasing a piece in solid gold very pricey indeed. So, what are the alternatives? Well don’t despair, there are other options when considering a new acquisition on a fixed budget and if you are a lover of all things gold, here are some different routes you can pursue.
1) Gold plating
Choosing a gold plated item is a much more affordable option and works well on pieces such as pendants, earrings and brooches that do not have a lot of wear and tear. It’s not recommended for rings though, and would probably only last a year on an average ring band.
So, what is plating? Gold plating places layers of gold, measured in microns onto the silver surface and several layers can be put on to a piece to make it very durable. With care a piece can last for several years without needing to be re-plated, however re-plating is easy to arrange and will probably coincide with your pieces needing a little TLC anyway. There is also a lot of choice in gold plating from red to yellow to white, rhodium or even black ruthenium, which can be great fun to branch out with.
2) Accents of gold on a silver piece
Choosing to have gold details on a silver piece is another option. A ring could have a silver band and a gold setting around the stone, with gold accents either side. Similarly, earrings and pendants could include solid gold details to add that warm golden glow or make them more luxurious. I have found over the years, that many clients actually prefer the use of mixed precious metals in a piece enabling greater versatility when matching with other jewellery items.
3) Upcycling existing jewellery
Probably the best way to invest in a solid gold piece is to have a look at your jewellery box and consider: are there any pieces you don’t wear any more? Either because they don’t fit, or your taste has changed over the years, or maybe you inherited them and to be honest would never wear them. If there are, now would be the time to redesign an unworn piece into something you would want to wear all the time. Gem stones can be taken out and reused and the gold can be melted down or traded in for new gold. One of the advantages with the increase in gold prices, is that gold scrap fetches a high price so you will probably be pleasantly surprised at the return when trading in even a 9ct or 14ct gold ring. Also if you fancy an upgrade from say a 14ct ring to an 18ct ring, a higher carat gold can be added to your metal to bring it up to the right fineness so nothing goes to waste.
If you are particularly sentimental about an item of jewellery, the metal can be used directly in a new piece, so all the materials live on in the new design. This option of reuse and redesign is a very cost-effective way of starting any commissioning process.
4) Platinum a pleasant surprise!
Last but not least, maybe now is the time to dispel the myth about platinum. The cost of having a ring made in platinum is about half that of 18ct gold, a surprising but true fact. Platinum has plummeted in value over the last year making this very beautiful tarnish free metal a feasible option in any new design. If you like the look of white gold or silver, platinum has a whiteness that surpasses all white gold colours and should not go without consideration.
Please feel free to message me directly if you would like to know more about platinum or any of the points above and look out for next month’s blog on upcycling two family rings into a gorgeous ruby and diamond ring as a special gift from a mother to a daughter.
