Why recycle gold for children's book clubs?
The vision for this project was created through my participation in a leadership course at Landmark Education. Part of the coursework was to create a project that benefits the community. Junior Great Books made a difference in my education. If my mother and her friends had not been willing to give their time, money and efforts the children in my school would not have had the gift of this program. Unfortunately, little has changed in our education system since I was in elementary school. Our teachers are still underpaid, overworked, and do not have enough time in the school day to cram in a full curriculum. Programs like Junior Great Books, which can be used as an extracurricular school program, can make a huge difference in supplementing our education system. I chose this project in part to make a difference and to honor my mother and all the others who made Junior Great Books happen for me.
Why a jewelry party?
Many of us have old jewelry that we no longer wear, that is broken or otherwise no longer useful. It tends to collect in our jewelry boxes because we don't want to throw it away. The mining of metals and gems for the jewelry industry creates problems for the environment. Why not use it to help the environment and kids at the same time? It's a great way to get out of the house and mingle while solving a problem.
How do we turn old jewelry into books?
A special account at the Great Books Foundation has been established for the Gold Minds project. All jewelry donations sent to greenKarat through the Gold Minds myKarat registry are collected and weighed. At the end of each month, greenKarat will send 80% of the current market value for the metal directly to the Gold Minds fund at the Great Books Foundation. Your contributions will be used to fund leader training and books and materials for students in new Junior Great Books groups around the country.
How will the Junior Great Books Clubs be started?
Anyone wanting to start a new Junior Great Books club with funding from this project should email info@goldforbooks.org to start the application process. As funds become available, we will help you find Great Books leader training in your area; we'd also be happy to advise on how to approach schools, libraries, or other places where a Junior Great Books club would be welcome -- or you could start it in your living room.
How much is my jewelry worth through recycling?
The short answer is that your jewelry is worth the market value of the gold it contains, less the costs necessary to make that gold ready once more for creating new jewelry. Fine jewelry is marked in karats. Pure gold is marked as 24 karat. The proportion of gold in your jewelry is the ratio of your karat to 24. 18k gold is 18/24, or 75% gold. 14k gold is 14/24, or 58.33% gold, etc. Gold is measured and priced in troy ounces, which are different from the ounces we encounter in everyday life. A troy ounce of gold is equal to about 1.1 regular ounces. Since gold prices are always reported in troy ounces, a conversion is required if you are weighing your jewelry on an ordinary kitchen scale. greenKarat will value the gold based on prices reported on www.kitco.com, a resource commonly used by those in the industry. The value of the gold in your old jewelry is equal to the weight of the gold content, times the market value of that gold, less the cost of handling and refining.
Is my jewelry donation tax-deductible?
The Great Books Foundation is a 501c(3) nonprofit organization, and thus donations made are tax deductible to the extent allowed by law. A receipt for your donation will be sent to you. Please consult your tax professional to determine the ultimate value & potential tax benefit of your gift to the Great Books Foundation.
What type of jewelry should I send or bring to the party?
We are looking mainly for 10 karat, 14 karat, or 18 karat gold, or can also accept sterling silver and platinum. We cannot use gold plated or costume jewelry. Do not send any piece which you feel is worth more as finished jewelry. We are only seeking pieces to melt.
Will Gold Minds get money for any gems in jewelry?
greenKarat may offer a credit for gems, but they are mostly interested in gold at this time. If you would like your gems returned to you, there will be a $10 per gem fee for removing them from the piece, plus a shipping charge if the gems are to be returned separately. There is no charge for removal if you do not wish to have the gems returned to you. Note: There is a risk that a gem will break while being removed. greenKarat will not compensate you for any gems broken during removal, so you may wish to consider having the stones removed before sending your pieces to them.
I don't have any gold. Can I still help?
Of course! Come to the jewelry party and you can participate in the silent auction, or donate on the spot. You can also donate on the Great Books Foundation web site right now. Use the dropdown menu to indicate the amount of your contribution. Thanks!