#1 Gold Jewelry Buyer in Las Vegas & Henderson
Nevada Coin Mart is currently the #1 and the LARGEST buyer of gold chains in Las Vegas. With free estimates and consultation plus the best customer service from a graduate gemologist, it is in itself the Gold Winner of The Best of Las Vegas, Las Vegas Review-Journal two years in a row. Any preloved gold jewelry can make instant cash-on-the-spot with fair market assessment, only with Nevada Coin Mart.
Gold Jewelry in History
Throughout history, gold has been used in decorating homes, tombs, and other structured properties of the rich in the earliest part of the 4th century BC. It has been suggested by historians that the use of gold in jewelry originated in Eastern Europe or Iraq, but many other texts about its origin came up, like the claim of the first recorded data of the use of gold that was five millennia ago in Egypt. One thing clear is that trades between kingdoms and old countries also included gold exchange.
During the Georgian and Victorian eras, gold was worn with silk and velvet designed for royalties. Wearing gold jewelry, set with rubies, diamonds, sapphires, and other precious stones, identifies power and authority. Gold in history is exclusive to the upper class of society. Only those who can afford to show off their wealth have the power to show off their gold. For this reason, different elegant designs of jewelry and accessories were made to prove the exclusivity of gold to the rich families in history.
The Rise of Gold Jewelry in the Middle Class
While there may be opinions of gold jewelry as a bad investment because of the subjectivity of its prices in the world market, business analysts somehow prove otherwise. Gold jewelry collection now has not only been a thing for the rich, but it is already emerging as a valuable commodity for the rising middle class around the world.
In the United States, 51% of the total population belongs to the middle class, according to the Organization for Economic Co-operation and Development (OECD) in its 2019 release of Under Pressure: The Squeezed Middle Class. The World Gold Council (WGC), on the other hand, expressed its opinion that Asia’s rising middle class will play a role in different emerging markets, including gold, in the future. Also, they predicted that over the next 17 years, 170 million Asians will enter the middle-class status every year.
Imagine that a big percentage of this total number would play in the gold market game in the future. The impact may most probably deliver a substantial difference to the status of the gold industry around the world, and most of the middle class will also benefit from it.
Cultural Impact and Alliances
The middle class, being more sentimental to things, has also kept at least a piece of gold jewelry in their homes not only for monetary values and reasons but also for its ability to fulfill multiple symbolic functions that strengthen bonds within families and communities. George Simmel, a German sociologist, referred to the commodity as “a thoroughly socialized thing” and that remains only as long as its possibilities for exchange are considered socially relevant. Gold jewelry as a valuable commodity in terms of culture and alliances has a higher social impact and relevance.
It is also something that has kept the family ties close, with gold jewelry from the elders being handed down to their succeeding generations. Gold jewelry is also closely associated with marital alliances between families and it signals the change in a person’s status.
Gold pieces of jewelry, for most elders, are silent witnesses of history; a treasure worth keeping.
There is more to gold than to be a symbol of wealth and power. For many years, using gold jewelry is also known to offer many health benefits. Wearing gold, for instance, is said to be a way to normalize and naturally regulate variations in body temperature and help speed recovery from injuries because of its natural components. Gold is also known to promote positive wellbeing that can reduce stress, due to its composition that increases oxygen circulation in the body. Studies also claim that wearing 24-karat gold jewelry can give a soothing effect to aid in reducing the symptoms of arthritis, the swelling and tenderness of the joints which usually worsens with age. Also, recent beauty procedures now include gold-infused skin care and treatments to make the skin young and beautiful.
Owning Gold for the Middle Class
Many consumers see gold jewelry as a sound investment and as an asset. Though its price may be unpredictable and would seem stagnant in the market, the value interestingly has managed to increase unlike coins, paper currencies, and other assets, and this opened the demand for gold to the middle class.
While many industries today take a sliding route to bankruptcy and closure due to the COVID-19 pandemic, the gold industry is predicted to be a continuous thriving business. WGC also predicts that “increased market uncertainty and the expansion of protectionist economic policies will make gold increasingly attractive as a hedge.” Consumers are now more than willing to buy and sell gold jewelry for future profit. They now look for dependable companies like Nevada Coin Mart that can help them sell and buy gold with peace of mind, knowing that market assessment is done fairly.