Broken Gold & Old Jewellery: Why They Still Hold Value in Australia

Interesting article, especially for those in Australia. Makes me wonder, here in Fresno, if my old jewelry box full of broken chains and single earrings actually has any real value that I could convert into something for my Gold IRA. Has anyone had success taking random old gold bits to a refiner or dealer stateside? Or is it usually just pennies on the dollar unless it's a significant amount?

Totally agree with this. I was cleaning out my dad's old place in Detroit a few years back and found a cigar box full of his mom's broken chains and single earrings from the 50s and 60s. Thought it was junk, but on a whim, took it to a local precious metals dealer who also did coin appraisals. Turned out those "junk" pieces, even broken, were still solid 14k and 10k and got a decent few hundred bucks for the melt value. Goes to show you, don't underestimate even broken gold!

Glad to see someone talking about the underlying value. I started out buying some scrap gold from a local jeweler here in Virginia Beach back in '08 when prices dipped hard. Got a deal on some 14k rings that were just going to be melted down anyway. The premium was almost nonexistent, and when I finally offloaded them in 2011, it was an easy 40% gain. Don't overlook those opportunities if you can find them.

Yeah, even with the title being "Australia," this resonates big time over here in Chicago. My grandma, bless her heart, always had this habit of holding onto every little trinket. When she passed, we were going through her stuff, and honestly, assumed a lot of it was junk. Found a shoebox full of broken chains, single earrings, even some old watch bezels. We were about to toss it all when my aunt suggested getting it appraised. Turned out to be something like $7,000 worth of gold, mostly 14k and 18k stuff she'd collected over 60 years. I got a cut, naturally, and that was actually the seed money for me seriously looking into a *Gold IRA*. Funny how things come full circle.

Saw this thread, and it got me thinking about my grandma's old locket she wore every day. It was just costume jewelry, but it made me realize how much sentiment drives some of this. People hold onto things not just for the gold weight, but for the memories. That's a huge part of why gold, even scrap, always has a buyer. It's not just the melt value; it's the potential to be something new. I've been considering selling some old pieces from an inheritance, and this just reinforced it.

Interesting read, though the focus on Australia is a bit niche for me out here in Honolulu. My take on this always comes back to the melt value, plain and simple. While sentimental value and craftsmanship play a role in some markets, for true investment purposes with broken or "old" jewelry, you're really just looking at the base metal weight and purity. Had a buddy try to offload some of his ex-wife's "vintage" pieces a few years back, thought he'd get a premium for the design. Nope. Refinery just paid out on the ounce, same as if it was scrap.