New Delhi, Oct. 24 -- She holds her mother's old jhumkas in one palm and scrolls through new designs on her phone with the other hand. Exchange them, or buy something fresh? The answer depends on four things: the purity of the old gold, the deductions during exchange, how much the piece means to her and why she is buying.

The jhumkas have not been worn in years, yet they carry her mother's wedding memories. Before deciding, she wants to know what they are truly worth. Exchange programmes at jewellers such as Tanishq, where old gold is tested in front of the customer, now make that answer easy to find.

Almost every Indian home has jewellery that has gone unworn for years. It may be out of style, broken, or simply too heavy for modern lif...