Speaking of diamonds, long long ago I was engaged to the wrong girl. I got the ring back, and, being in the service and short of cash, I took it back to the high end jewlery store where I bought it (paying much more than I could afford, they shamed me into it), hoping for some bucks. The same guy who sold it to me, looking down his nose, informed me that "we don't buy used diamonds." Then I went to a pawn shop. What they offered was a joke. So my daughter now has the set...
That reminds me of an article I read while I was researching for diamonds.
Have you ever tried to sell a diamond? It's a long read, but I found it very interesting. For those of you who don't have the patience, here are the cliff notes.
1) Diamonds have almost no resale value. The end.
Sorry you had to find out the hard way. Diamonds are not rare, and they aren't intrinsically valuable. There is only one reason for their exhorbitant price, and that's marketing.
After reading that article, I tend to think of precious metals in a similar way. Right now, in a non-emergency situation, how easy is it to barter PM's with random people in exchange for goods? Could you go to the store and actually buy anything with gold or silver? With all the fraud out there, I personally wouldn't take anything that I couldn't verify 100%, and even if i could I wouldn't be paying anywhere near it's full value, because I'm going to minimize my risk by lowballing the price. If an emergency, I'm not sure I'd even consider it.
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