INTERVIEW WITH WALTER BAUMAN

Gold seems to be having a moment right now. To find out what’s driving the rush and why some of your own jewelry and other precious metals might deserve a second look, we spoke with Walter Bauman, a third-generation owner of Walter Bauman Jewelers. Whether a piece is destined to be melted down or resold for its vintage charm, he explains why now is the perfect time to sell.

What is it like behind the counter with a rush of customers coming in to buy or sell gold each day?

It’s been great fun. Every day is like Christmas. The customers are thrilled with the payments they get, and many turn right around to buy something new.

What are some of the most memorable pieces you’ve seen come through the door?

It’s fun seeing the great craftsmanship from 100-plus years ago. It’s amazing what people were able to create without the technology and modern tools we have today.

When people bring in items that they inherited—maybe a diamond brooch from a grandmother or jewelry from the 1950s or ’60s—do those older pieces tend to hold more value than people expect?

It depends. Some people have been told for years that grandma’s brooch is worth a fortune, and it may turn out not to be the best quality. On the other hand, people with heavy gold jewelry from the ’50s and ’60s can’t believe how much money they’re getting.

When you examine a piece of gold, what goes into figuring out its worth?

Things like weight, purity, brand, and craftsmanship are all important. We try to figure out if we can resell an item and for how much.

Are people often surprised by the value of their pieces once you weigh and test the gold?

They are surprised 99% of the time.

Are there certain vintage or designer pieces that you keep intact because they’re worth more as jewelry than as gold?

Not everything that comes in is just melted down for value. We keep about 200 pieces a week to sell. Any brand name definitely helps. We sell online through our website to people all over the world who search for different brands on Google and find us.

While gold is the main focus, you also accept silver and platinum. How does the demand for those metals compare to the strong interest in gold right now?

Gold is No. 1. Silver is at a great price for silver, but it’s not nearly as exciting as gold. Platinum is good, but there isn’t as much of it out there for us to buy.

For someone who has old jewelry sitting in a drawer and is wondering whether it’s worth bringing in, what advice would you give them before they decide to sell or trade it?

If you wear it, keep it. If not, sell it and get paid ASAP.

Photograph courtesy of Walter Bauman Jewelers