Shoot first, ask later. It’s a mentality and style adopted not only by film and T.V. characters, but by your average Joe and Jane Doe who have ambitions or tasks to complete. That doesn’t mean they’re gun-toting war mongers (we would hope not!), but they have the propensity to do things without thinking about the effects of their actions. These are often the people who say things like, “I regret buying that” or “I should have thought about that before coming here”. Usually, they say these statements when it’s too late. When it comes to selling gold, things are no different. There are many people who give up their gold for the prospect of cash, without thinking about how they’ll feel when these items are no longer with them.
Are you planning to give some of your gold away? No one can tell you what to do with it, but you should think twice about your choices. If you enthusiastically say, “I’m gonna sell my gold!”, add this one step – think about the emotions you may feel in the days, weeks, months, and years to follow. After all, once the gold is gone, it’s not coming back!
We humans are visual and physically-oriented beings. In other words, we think of what we can see and feel – often the things that are immediate. That’s why it’s easy to forget the “thinking” part of making decisions, and often reflect on our choices after the fact. We do this more with some objects as opposed to others. Enter gold. In the 18th and 19th centuries, you had scores of people joining the gold rush to acquire their own fortunes. In more recent times, recessions have led people to sell their gold to make ends meet. But historically, gold has carried a much heavier value than monetary worth. That is emotional weight.
Think about a gold chain, necklace, or bracelet handed down from grandparent to parent or to a grandchild. It’s symbolic. It’s a relic that should pass on for generations to come. With that said, the intent is to keep such items within the hands of the family, not a vendor.
As mentioned earlier, there are consequences to selling gold jewelry and other items before giving it enough forethought. They are mainly emotional, which are usually worse than any physical or financial effects. Remember, the value of gold goes farther than dollar signs.
You’ve probably been told by others that you shouldn’t hold back on things. It’s true to a certain extent, in that you shouldn’t hold back on something in which you have the utmost confidence. You might say, “Yes, I know I can sell my gold with confidence!” However, think twice about the future and some of the emotions you may feel as time passes. They are often burdensome and long-lasting. Therefore, give it some thought before you set foot in a refining company’s doors.
Just because you can sell something to make a profit, doesn’t mean you should do it. Think about some of the greatest inventions, startup businesses, and sports deals – if the “star” folded, the integrity of what they did wouldn’t be the same! Likewise, gold jewelry that was handed down from family members should stay with you. A farsighted approach will help you see the real value of what you’re about to give up if you say “I’ll sell my gold no matter what!” With that said, there will be times when you want cash for gold, and it’s okay to sell items that don’t hold much emotional weight to you. Overall, the only right decision is the one that will leave you feeling free of regret.
Looking for info on what do with your gold items? Give us a call for advice!