I don't own any costume jewelery, which I consider to be anything made from a non precious metal, a non metal (like wood) or faux stone. So for me silver, gold, and platinum is what I own. I am starting to get into gemstone jewelery. I've got my eye on a green amethyst pendant and ring set that just came in at my job. Maybe I'll let dh buy it for me for Christmas if I don't buy it myself. They're gorgeous matching pieces in white gold with a thin ring of diamonds around each piece and very reasonably priced. I work in jewelery part time and get a massive discount, and I'm done pillaging my bank account and dh's for diamond jewelery. It's time to move to gemstones! Personally, even if it's an LV piece, if it's made of a non precious metal (gold filled, gold plated or whatever), I consider it costume. Conversely, silver hoops wouldn't be fine jewelery, per se, but it's not costume jewelery either. I think if mixing costume and fine jewelery is your thing, go for it. There's nothing wrong with that.