CHEEKTOWAGA, N.Y. (WKBW) — The value of gold and sterling silver is up, so now might be the time to start sorting through your old jewelry and coins.
“Gold is way over $4,000 an ounce,” said Don Hoffman, owner of Airport Plaza Jewelers in Cheektowaga. "Silver is at a record high right now, that’s pretty amazing. Think of going to the moon…We’re at Jupiter right about now.”
Hoffman said most, if not all, of his customers are coming in to sell their jewelry.
“People want to raise cash when they can get the most cash, and now is the time,” said Hoffman.
WATCH: Is now the time to cash in your old gold jewelry and silver coins?
Gold
Bracelets and necklaces from decades ago could get cash in your pocket, instead of just sitting in a drawer. Unless it has a personal connection to you, Hoffman said that now is a time to consider cashing in that jewelry. Just always make sure the store you go to has a scale that has a certified sticker on it from the county you’re in.
Silver
Hoffman showed me a small sterling silver bowl at his shop, which he valued at $100. A tarnished sterling silver pitcher that someone would easily pass at a garage sale…$1,000!
An old 12-piece sterling silver flatware set, that many might have buried in an attic, Hoffman said was worth $3,200.
It doesn’t matter if the silver is tarnished or dented, as it is going to be melted anyway. Hoffman did say that items like candlesticks could be an issue since it has other materials inside that make the silver cheaper.
Coins
“Coins are a big, big thing,” emphasized Hoffman.
He showed me a box with just more than a dozen gold coins. He said it’s easily worth $100,000.
It’s important to note that coins dated 1964 and earlier are composed of around 90% silver. Hoffman said a half-dollar or quarter from that time period could be worth 30 times the amount of its currency value.
So bottom line, make sure you’re going through what you have, get different estimates from locations, and if you aren’t sure, bring in your coins, gold and silver for Hoffman to sort through.
“I’ll go through your coins for you,” Hoffman said.
