Oh my gosh. I spent hours watching videos about gold jewelry you can buy in Manila. Dang. Hey I never knew that's where you should buy gold. I was never a fan of jewelry investments at all but maybe it's not a bad investment indeed.
Why Did I Start Thinking About Investing in Gold Jewelry?
Well, you know herd mentality right? I think that's what I caught when I saw a lot of people buying in gold jewelry stores in Manila.
Last year... No wait, that sounds like too long ago. Hahaha~ On Tuesday last week, which is of course Dec. 29, 2020, I went to Recto and then Morayta in the City of Manila so I can renew my PRC license as a real estate salesperson. (It was the last day of renewal actually because of the holidays.) Good thing I was finally able to get the signed forms from my broker etc., the day before so I was able to go before December ended.
I took a screenshot of Google Maps to know where to go from the Recto LRT station to Morayta but somehow my brain insisted I go the wrong way. Ugh. I didn't bother to look at the pic in my phone, confident that I knew where to go. Smart move or not but before I confirmed and realized I was going the opposite direction, I saw a street and some stores with a lot of people in it. What a shocker. 🙄
Come on, it's still quarantine and people are not even practicing social distancing even with the signs all over the place. Good lord. It irked me that's why I couldn't help but notice the crowd in those stores. I could feel the energy somehow, like people were excited or something.
Well, were they doing last minute Christmas shopping of gold jewelry or what? Why are there even a lot of people buying there at a time like this? I thought people didn't have any money because of the pandemic huh???
(Jewelry market in Athens, Greece for illustration only)
And so because it caught my eye and since I had somewhere else to go I didn't look inside the shops. Well it was an hour or so before the government offices closed so I had to get to PRC real quick and do my business.
At the back of my mind, that scene stuck because it was weird for me. Why? Well I'm not a jewelry fan at all and seeing a crowd around those stores like there was no tomorrow got me curious.
For me, accessories = stainless steel or any shiny metal. Am definitely not one to put on a show. 😏 Give me stainless steel jewelry and I'll be happy. I don't need no diamond or gold or whatever bling bling to feel confident or rich so I have never really considered gold as an investment.
Fast forward to today after finding out why those people were there and what the pricing is... Well maybe I should buy some...
To Buy or Not to Buy Gold Jewelry
So since the price of gold went down due to COVID-19, it's probably why a lot of people are rushing to buy some jewelry right? I think it is going up again but hey maybe I need to do some research on it to be sure.
What I also found out is 24K gold here is considered 22K gold when appraised by pawnshops (subasta/sanglaan). Why then would I buy pure gold anything, right? So I decided if ever I will buy anything gold as an investment, it will be 21K or less for jewelry.
Too bad I don't like yellow gold, I prefer silver colored jewelry. I did mention I prefer stainless steel right? 😆 So why would I buy gold bracelets, rings, etc., if I will not use them? I can opt for white or rose gold though so I dunno.
Actually I thought gold coins would be better but then if it is appraised it will get damaged and the value will be lower if it is scratched or worse a hole is put in it so meh. Not a good idea. 🤦 No other better choice than to buy jewelry instead.
Based on the suggested stores by this local vlogger I now know which ones are legit sellers. I also realized I may be able to buy some I can wear outside. Turns out, as long as I like the design I can definitely see myself wearing some of it.
You see, my first thought before watching the YouTube videos on gold jewelry bought in Manila stores were of those being pointless to buy if one cannot wear them outside. Especially if you look rich even if you aren't, if you wear gold jewelry you are just setting yourself up to be a victim of some form of theft. It can be dangerous especially if you commute publicly everyday.
Of course it is a given, you should be wise and only wear jewelry on special occasions and when going to certain events. Even if it would feel nice to go out and look decked out on the streets anytime of day, only do it when you are in a safe neighborhood. 👍
Another concern of mine is, I used to have gold jewelry gifts from an aunt as a kid. Do you know what happened to them? Well of course my mom had to pawn it all off when we didn't have any money. And of course it's all gone like our TV and other stuff back then. Must be another reason why I don't see any value in having gold jewelry or TV. I think I have one little ring left hidden or stored somewhere but I don't really think much of it at all. Gold jewelry has no value to me. 😕
However, because I am curious to visit those stores perhaps my decision to buy will depend on when I can go back there to check what are for sale. I already browsed some of the shops' online Facebook Pages to see what items are being sold and have seen a few I like. Maybe when I drop by that area in Manila I will be able to really decide if they will be good investments. I'd rather have cash but its value doesn't go up so hmmm. 🤔 Let's see.
How about you? Do you have any gold jewelry? What do you think about my dilemma? 😅
XOXO,
All images above are from Pixabay.
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