Posted on Thursday, January 27th, 2022 at 2:31 pm by LaLonde Jewelers
So unbelievably, I was struggling to come up with a newsletter this week and what do you know, another one fell into my lap. This one is what I would call informative but not the best for me.
There have been times that I have pitched various investment items to some of my clients and sometimes they are very interested and sometimes they are not. You see I come across numerous items like jewelry, rare coins, rare paper money, paintings and rare documents.
When folks aren’t interested, I always want to know the reasons why. Not to try and change their mind but to understand their reasoning.
So numerous people turn down items that can get damaged. There Is a lot of ways that things can get damaged.
I began to notice that my clients chose to stay away for the more perishable items like paper money, stamps, documents, and paintings. These are more vulnerable to water, fire and smoke damage than coins, gems, and jewelry would be.
So, as it turned out I should have paid better attention to what I was learning. So about five years ago a water heater in our basement ruptured and emptied on to the floor. Well, we had shelving that saved the majority of our things but there was one cardboard box that got a soaking and in that box were numerous first edition rare books. These were some of my favorite things. You can still read them, but they have completely lost the value they once had.
So, after that I reassessed my filing system. I moved the most vulnerable items like paintings, books and special documents to the top shelves in a dry, even-temperature room.
Well guess what happened, my wife was putting Christmas decorations away in the basement and phoned to tell me that there was water in the basement. I came to find that a ceiling pipe had sprang a leak. This leak was a light spray like you would get out of a Windex bottle, but it had been spraying for at least a week and right on a stack of some of my favorite paintings.
So, I must rethink my storage procedures and the items that I collect. I got to thinking maybe I should stick with things that are from the water. Like pearls, coral and seashells then these little floods won’t bother me so much.
Written by Dan LaLonde, G.G., G.I.A.
Lalonde Jewelers & Gemologists
The Gem Expert