Tiny things are always more appealing!
Why keep her first outgrown baby bracelet or baby bangle? Because this item will always be special, a symbol of her smallness and a memory of a time which can never be replaced, no matter how many children you have.
You will want to save her first baby jewellery as a keepsake. So zip it up in a snap-lock bag after first giving it a through clean with a jewellery cloth. Then put it somewhere you won't forget. It will keep for decades with only the occasional buff-up, again with a jewellery cloth, every few years.
Each time you see it, you will marvel at how tiny she was and how beautiful her little bracelet was. Because tiny things are very appealing, just like a kitten, a puppy, a piglet, or a foal is so very appealing.
Any item of children's jewellery she is given after that first bracelet, will be different, new and exciting, but will never quite have the appeal of that first, tiny, newborn bracelet.