Other options should be pursued (such as selling respecs/heirlooms in market)
This, all gold will soon be gone once everyone uses it up to buy looms, added with the bonus that players (market whores) will have to lower their prices to whatever is dictated by shop prices. This will cause a massive downfall in the prices of the player market making looms more affordable for everyone, whether they are new or old.
More looms = everyone happy