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Just Exactly Who Is A Baby Boomer, And What Do They Have To Do With Estate Jewelry?

Posted August 12, 2019

Who Is a Baby Boomer?

Baby Boomers are those (76,000,000 of us) who were born between the years of 1946 and 1964.But like the art deco period, and the Victorian period, you can find differing opinions on exactly when each period began and ended. My mother was born in 1942, and I was born in 1962. Both of us consider ourselves Baby Boomers. The exact starting and ending points don’t matter as much as knowing why the Baby Boomer generation is significant.

Why Their Generation is Significant

Baby Boomers are the single largest generation on Earth today, and they are aging. If you were born in 1960, you’ll be 60 years old next year. If you were born in 1945, you’ll be 75 years old next year. Some Baby Boomers have parents who are still alive, and of course, aging. As we reach milestone ages, we have decisions to make that are different from the decisions we made when we were younger. Do I sell my home and buy something smaller? Should I consider assisted living? Will my children help me? Do I have enough money? Do I really need all of this stuff I’ve accumulated?

Here in the jewelry store, when I ask customers of all ages why they are selling their jewelry, by far the most popular reason I hear is, "I never wear it, and it's just been sitting around." Some of these customers have an urgent need for cash, and some don't. No matter your financial situation, in nearly every circumstance it is better to have money than it is to have unwanted jewelry sitting around. Unwanted jewelry doesn't earn interest while it sits in your jewelry box. You can't buy stocks or bonds with old, unwanted jewelry. And, you can't pay bills with it either.

A Baby Boomer who is thinking about what will become of her jewelry will do one of the following:

  • keep it and put it in her will, leaving it to loved ones
  • sell it now and use the money for her own needs
  • simply hang on to it

When children and grandchildren inherit jewelry that has been bequeathed to them they will do one of the following:

  • keep it as a keepsake, never changing it, and never selling it
  • keep it and wear it because it is sentimental, and because they like it
  • have diamonds removed and reset into something more suitable to them
  • sell it because they won't wear it, or because there is no sentimental attachment
  • sometimes a combination of keeping it, remounting it, and selling it

What Role Does Flora Gems Play In All This?

We see people of all ages, and in all stages of life who come to us, including Baby Boomers, with questions, such as:

  • Can you tell me if any of this jewelry is real? Some of it has been in our family forever, and I simply don't know anything about most of it.
  • I'd like to sell these ten items, but I want to keep these three items. Will you buy the items I want to sell, and will you perform a written appraisal on the ones I want to keep?
  • Our grandfather passed away last year and we discovered all of these silver and gold coins in a bank box. Can you tell us how much they are worth? And, will you buy them?
  • My children and grandchildren don't want any of this jewelry, and I only wear my favorite ring, and my favorite pair of earrings. I'd like to sell the rest of it because I've gotten my wear out of it, and frankly, I'd rather know that I have the money in the bank.

There are many other questions we hear daily, and many situations that come about. Flora Gems is here to help with any of these situations.

Our estate jewelry buyers spend time sorting our customers items, letting them know what is genuine, and what is not. We advise customers daily about their more valuable items, and whether they should pay to have a written appraisal performed for the items they wish to keep. We write checks every day to people looking to sell their own jewelry. We write checks to the grown children of aging (and sometimes infirm) parents for their jewelry (on the parents' behalf). We write checks to heirs who have acquired jewelry items via their parents and/or grandparents. We advise these heirs on what they have been bequeathed so they can make a good decision about what to sell, and what to keep.

Some of our purchases look like this:

Some of our purchases look like this:

And, some of our purchases look like this:

At Flora Gems, there's no charge for any of this assistance and advice. These are free services we provide. We are happy to do it because our customers need a trusted adviser, a jeweler who has expertise with jewelry of all kinds, types, and ages, and who also has experience with the many situations that arise (with one exception...there's a charge for written appraisals for insurance).

What do you need to do if you are faced with a situation similar to those mentioned in this blog article?

All you have to do is bring in your jewelry, silver, coins, gold watches, diamonds, and/or gemstones. No appointment is necessary in either our Decatur, or Champaign store. If you have any accompanying paperwork, bring it. If you don't... that's okay too. When you come in, you'll be invited to sit in a private office where our buyers answer your questions and make you feel comfortable. We'll make you a fair offer, and you’ll decide if you'd like to go ahead and sell to us.

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