Valuing Vintage Rings: 1930s Diamond & Wedding Band - Appraisal & Credit Offer

Question
I have my grandma's rings from the 1930's. The solitaire diamond is 18 carat and the plain wedding band is 22. The diamond is just over a 1/4 carat. I wanted to have the diamond removed and put in a new setting for me but wanted to find out first if there is much value to a set like this in 2009. The jeweller is offering me $485.75 credit for these 2 rings and 5 other ones (diamond removed). The others were my parents.  He would then be creating a new ring for me using all the diamonds. Does this sound reasonable pricing in Canada.

Answer
HI DARLENE,

IT SOUNDS REASONABLE TO ME, BUT I DON'T KNOW THE WEIGHTS AND KARAT QUALITY OF ALL THE RINGS. GOLD IS AT $1000 U.S. PER OUNCE BUT THAT IS FOR PURE GOLD '24K'. THE VALUE IN OLDER RINGS TODAY IS MAINLY IN THE GOLD CONTENT SINCE GOLD IS SO HIGH. IF YOU HAVE WORKED WITH THIS JEWELER BEFORE AND YOU TRUST HIM TO MAKE A NEW RING FOR YOU THEN I WOULD SAY HE IS MAKING YOU A REASONABLE OFFER. IF ON THE OTHER HAND YOU DON'T TRUST HIM THEN SHOP AROUND AND TRY DIFFERENT JEWELERS. IN CASE GOOD LUCK.