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All that talk of gold prices got me thinking...

Did you know that September 1, 2006 the NY closing price of gold was $625.00 an ounce? Now on September 1, 2011 the NY closing price of gold had risen to $1,824.20 an ounce! Big change, but what does that really mean?


This is a standard in the jewelery industry. A 0.75mm box chain, 16 inches long. A chain, prevalent on displaying pendents throughout any jewelery store. In 2006 this chain would have retailed for $90.00. At today's gold prices that same chain is now $265.00! That is a whopping increase, and that translates across the board to every piece of gold jewelry you have.

What is not in the news...

Diamonds have taken dramatic jumps in pricing as well. How much of a change? Lets take a look at the same time frame for a realistic comparison. A one carat, well cut round brilliant diamond, VS2 clarity and G color (the typical stone that you might find in a nice engagement ring) retailed for $9,000.00 in 2006. That same stone retails for $12,000.00 in 2011. The averages have been a 25% to over 50% increase on every diamond, large or small.


A typical engagement ring. 14K gold set with 10 round brilliant diamonds on the side. Set with the above mentioned one carat center.

2006 retail price: $9,690.00

2011 retail price: $13,550.00

Diamonds are not the only gemstone that has taken increases. Every stone has seen increases, and so every piece of jewelry you own owns is worth so much more than when they purchased it several years ago.

Now the big question...

Are you properly protected/insured for jewelry losses? This is not a simple yes or no answer. What is important to insure? How do you work through that decision process? Click on QUESTIONAIRE, it will help guide you through a series of questions to help you determine what you should consider insuring.

The next question...

Talk with your agent and find out what jewelry protection your current insurance has and what possibilities you might want to look at.