Posted on: June 27, 2006
A Price Above Beauty
Despite rising costs, gold is still a value for brides and grooms looking for classic style.
By Bev Bennett
CTW Features
Image courtesy Jewelry Information Center
Amy Taylor recalls her mother’s dilemma when shopping for wedding bands in the early 1980’s – when gold hit a peak of $850 an ounce.
“She was looking for the thinnest band she could find,” says Taylor, a jeweler in the Chicago area.
Now Taylor is advising engaged couples that are blanching at the escalating cost of gold. Despite the fact that an ounce of gold is worth about 50 percent more than it was a year ago, Taylor isn’t alarmed.
“You can still get a gold band for about $100,” she says.
Thanks to contemporary designs and new metal techniques, you can get a stunning band in all price ranges, according to Helena Krodel, a spokesperson for the Jewelry Information Center, a nonprofit trade association in New York.
But first, Krodel offers a calming perspective on gold prices.
You may be reading that gold is selling for $650 an ounce. However, many jewelers ordered their wholesale gold months ago when prices were lower so they don’t have to pass along higher costs.
“They will have to bump their prices eventually,” acknowledges Krodel.
You can deflect rising costs by working with a jeweler to create an economical design.
For example, a traditional dome-shaped (with a thick, curved band) ring was made from a wide strip of gold. Now to accommodate budget-minded couples jewelers are stretching thinner gold strips using a device to create a band that’s concave inside and convex outside.
You still get the attractive dome effect using less gold, says Taylor.
Cutout patterns in gold bands may save money, depending on how the work is done.
“If the gold is hand-pierced the labor is very expensive and makes up for the reduced amount of gold,” says Taylor.
The open work can be done using a wax casting process that costs far less, according to the jeweler.
Thin bands, which may not have been popular in the ‘80’s, are very trendy now, says Krodel.
Women are wearing several tiny gold bands, some plain and some with stones.
“You can add a band for anniversaries or to celebrate babies. You can do one in gold and one in platinum. It’s a great way to accessorize,” Krodel says.
But if you’re still concerned about gold prices, put the cost into perspective.
“Gold will always have value; not like gas,” says Krodel.
Counting Karats
A karat is the unit of measure for the proportion of gold in an alloy. The higher the number the greater the percentage of gold, up to pure gold at 24K. Most rings you’ll see are 14K, although 18K is becoming more popular, according to Helena Krodel.
Unfortunately, the more gold a ring contains the softer it is. 18K rings may not be as durable as those made from 14K gold.
“There are ways to heat-treat and harden 18K gold,” says Krodel.
