Relationship Between The Price Of Gold And The Price Of Your Jewelry
The price relationship between a fine piece of gold jewelry and the gold content generally isnt all that predictably strict anyway. Its true that as the ounce price of gold rises or falls there is somewhat of a price shift admittedly, this occurs most readily when your price is going up in response to a change.
Gold jewelry, for the most part, is priced for the creativity, workmanship, and exclusivity of an item. Stock items such as engagement rings, earrings mountings, etc. reflect gold ounce prices most.
Please remember that gold is primarily a commodity. There is an international market for the metal with publicly published prices. Because this price changes daily- and in quick response to every crises, minor or major, in the world- its gyrations are, to be sure, volatile.
The jewelry industry operates essentially on gold price on date of delivery. That means that manufacturers, wholesalers, and retailers, dont know one day to the next what their gold purchases or unfilled orders- are going to cost. When the order is filled from a supplier, the daily gold price is consulted and the metal is priced accordingly.
So long as international gold prices remain below a jewelers own threshold number the retail prices in that store will tend to remain constant. But theyre understandably sticky about cutting prices.
There are also a variety of bars that refiners produce ranging in size from a single ounce up to 10 ounces.
Think Twice Before Selling
It is very tempting to want to sell your jewelry if someone offers you cash for it, but make sure you know what you have and what you want to do with it before doing so.
I knew a woman who sold an old, ugly, beat up silver brooch for $5. It turned out to be an item that was created by a well known silversmith from Paul Reveres time and was valued at more than $600! She was sick when she found out what she had done, but she could have avoided this problem by simply doing some research!
You can eliminate having a problem like this by taking the time to find out how much your jewelry is worth before you take any action.
Some of it may look like junk to you, but that does not mean that it is!
What Is The Value Of Your 14k Gold
The value of your 14K gold depends on how much buyers are willing to pay for it.
Here, we are only discussing the value of 14K gold items when sold as scrap gold. However, retail prices for new jewelry depend on more than just the amount of pure gold in it factors such as the pieces design and brand also come into play.
One way to estimate the value of a 14K gold item is to look at gold market prices. Another way is to check what gold dealers pay per ounce or gram of gold.
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Kelly Wants To Know How Much Is An 18k Gold Necklace Worth
Kelly: Hi Maria! How are you?
Hello Kelly! Im fine, thank you. How are you? I just received your email with the nice photos of your 18 karat gold necklace. It looks really beautiful and solid. I also noticed the diamonds, so its really a diamond and gold necklace.
Kelly: Yes, youre right. Im happy that you like the necklace.
I do like it! Could you tell me a bit more about the necklace? Do you know where it was bought, how old it is, or any other details that might be useful? If you have a jewelry certificate handy, please let me know what it says.
Kelly: Unfortunately I have no certificate or appraisal available. My ex-boyfriend gave me this gold necklace as a gift. He worked in finance in New York, so he might have bought the necklace there, but Im not sure. I think he gave me the necklace in 2009, so six years ago. Im a ballet dancer and at the moment I dont have many performances which is why I would like to sell this necklace. Furthermore, I doesnt really bother me to get rid of these old and painful memories. The relationship was very challenging for me, and I dont need to keep jewelry to remind me of it.
Oh, Im sorry for you, Kelly. Based on your information, I assume that your 18K gold and diamond necklace was bought approximately six years ago in New York, right?
Kelly: Yes, that should be the case.
Kelly: Yes, I can see an 18. Thats why Im pretty sure the necklace is made of 18 karat gold. I also see a name, but Im not sure what it means.
When To Buy Gold
Even though gold-plated jewelry has a few downsides, you can buy it when enjoying gold shining and color, but the real stuff is a bit out of your budget. If you are aware of its limitations and take care of your piece adequately, you can wear it for months or two years in some cases without notice any damage or color change.
This jewelry type is an excellent option when you need a short-term solution for a special occasion. You can wear it from time to time, and it will stay beautiful for a long. Unfortunately, it is not the best solution for daily use.
If you suffer from contact allergies, you need to check what base metal is used under the gold layer. For instance, you will have a problem when a gold coat peels off, and nickel appears on the surface.
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Calculate The Value Of 14k Gold
We will use 14k gold as our example on how to calculate actual gold content and its value. The same formula works for 10k and 18k.
EXAMPLE: Your 14k yellow gold chain weights 24.2 pennyweights
Actual pure gold content value of chain. We then multiplied 14.1 pennyweights of pure gold times $67.45 per pennyweight and we get $951.05.
When Gold Prices Go Up Jewelry Prices Follow
Designers of whats called demi-fine jewelry are trying to avoid increases, but it sure looks like those new earrings are going to cost more.
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The sharp rise in gold prices this year has affected more than just investors looking for safer places than the stock market to stash their money.
Designers of demi-fine jewelry the popular category designed for casual wear, and priced to encourage just modestly guilty shopping are struggling with the increased cost, as are the retailers that carry their brands.
On Jan. 1, gold was priced at slightly less than $1,550 an ounce by Oct. 1, it was hovering at $1,900 for the same amount. And prices have continued to fluctuate, including in the wake of the American presidential election. The change has been driven, as it often is during uneasy times, by the perceived security of investing in gold.
It does make a huge difference and we have to be incredibly conscious about it, said Zoë Chicco, the founder and designer of her namesake Los Angeles-based jewelry line, which is sold at department stores like Nordstrom, Saks Fifth Avenue and Bloomingdales, as well as boutiques like Browns in London.
But, Ms. Monvoisin said, increases may be inevitable. We are not able to continue like this if gold is going up, up, up, she said.
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Cash For Gold Calculator
This is the original Cash for Gold Calculator.
This software was developed by the National Gold Market Corporation to educate the public, providing the most accurate market price for Gold, Silver and Platinum at 100% of the current New York Spot Price and the Asia Stock Market. The Live Price chart gives you a breakdown per gram, DWT and Troy Ounce. What is the right amount to receive for your gold? If you’re selling Gold Jewelry, a reasonable settlement would be 70% to 80% of the market value. If you’re selling Gold Coins a reasonable settlement would be 90% of the market value. If you are near The Los Angeles area, National Gold Market is located in Pasadena, California. They pay 75% to 80% for Gold Jewelry and 90% for Gold Coins. You can walk in and get your items tested for free to determine the Karat metal purity and the gram weight. The company will give you a quote based off the current Live Prices on the LA Cash for Gold website. Payments are made in CASH.VISIT THE LOCAL SITE BY CLICKING HERE: You can also send your gold using our Prepaid, insured FEDEX Package by following the simple instructions on National Gold Market.com website.VISIT THE NATIONAL SITE BY CLICKING HERE: National Gold Market
What to avoid when selling Gold?
How to sell your Gold Properly:
Determining The Total Weight Of Your Gold Necklace
To find the absolute amount of pure gold in your necklace, you will need to weigh it.
Before you do that, dont forget to remove any stones so as not to artificially inflate the calculated weight of the gold alloy in the piece.
Weigh your necklace on a scale, and record the weight in grams or ounces.
If you need to convert the weight into troy ounces, remember that 1 gram is equal to 0.03215 troy ounces, and 1 ounce equals 0.91146 troy ounces.
Some jewelers also use pennyweights as units of measurement, so you should know that 1 troy ounce is equal to 20 pennyweights .
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Is Gold Filled Or Gold Plated Jewelry Worth Anything
Written on April 12, 2010, by Arch Enterprises
I want to sell gold filled and gold plated necklaces from the 1950s, made in Korea. I have dozens of them equaling several pounds. From Becky in Fond du Lac, Wisconsin
It is nearly impossible to recover any relevant amount of gold from plated items because the gold is plated so thinly that there are only a few microns of actual gold in each plated item. Furthermore, the cost to refine plated items is higher than with 10 Karat 24 Karat gold so there is no value in refining it.
Gold filled jewelry on the other hand, may have some value. Typically, a few pieces of gold filled jewelry will not yield much return but if you have pounds, you should get some return. I suggest using the US Postal Services flat rate shipping boxes. They are great for shipping small, heavy items such as jewelry. Remember to request the Delivery Signature Required option when you ship.
Because we can not take your gold plated jewelry items, we would recommend selling them as costume jewelry on EBay or local consignment shops. Hope this helps!
How To Determine The Karat Of Your Gold Items
You should start by determining the karat of your gold items for two reasons. The first reason is so that you can separate your items by karat and determine overall value based on the karat number. The second reason is to make sure that your gold jewelry and items are in fact real gold. Here are a couple of basic things to keep in mind when checking your gold items for the karat:
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Explanation With Lots Of Math
Snake Chain, Machine Made in Italy 14kt
What this means is that if the 20 gram chain is selling for $1,500.00 and $484.88 is the cost of the gold, the other $1015.12 includes the cost of the other metals, the labor, and the jewelers profit. What percentage is the cost of the other metals? The labor? And the markup from the jeweler? Unknown!
All I can tell you with certainty is that if pure gold is selling for $1300/oz. and the weight of the 14k chain is 20 grams, then the melt price of the gold is worth $484.88. There is no way to know what the jeweler paid for the chain from the manufacturer. Furthermore, we dont know what gold was going for at the time of purchase. The jeweler might have bought it when gold was at $1200.00 per ounce. Or $1800.00 per ounce!
Gold Jewelry Is Usually Valued At Scrap
This stands to reason. Cash for gold places will value your jewelry at scrap content. Regardless of the sentimental value to you, they don’t place any value on that.
Additionally, they’re not going to well, can’t give people top dollar for their stuff because they have to pay for shipping, pay people to value your stuff, pay to cut the check and mail it, and put food on the table. You pay for the convenience of selling your jewelry by throwing it in an envelope.
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Frost Nyc Has The Dopest Chains On The Market
For anyone looking to invest in some high-quality new hip hop jewelry, Frost NYC is the perfect retailer for you. Our extensive collection includes many types of gold chains, from the classic Cuban link style to the more unusual herringbone style. No matter what youre looking for, we probably have itbracelets, rings, watches, and more. Each of our original pieces has been carefully crafted and coated in a high-quality finish to help prevent your gold chains from being scratched and maintain their beautiful, shiny appearance for years.
Various Jewelry Types Characteristics
You can find various jewelry types on the market.
- Solid gold Gold alloy
- Gold-filled jewelry High-quality brass core with 5% gold by weight
- Gold-plated jewelry Cheap base metal with less than 0.05% gold by weight
- Gold vermeil925 sterling silver
The gold purity for gold plating ranges the same way as solid gold, from the lowest purity of 10K to the highest one of 24K gold. Their values are practically the same, but the effect is different because of the gold color. The higher gold purity will provide a more gold-like shade.
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What Will Be Required To Get My Jewelry Insured
At the very least, your chosen insurance company will require an initial appraisal of all insured pieces to determine how much they are worth. This helps you purchase the right amount of coverage, and allows your insurance company to know if you are overestimating the value of any individual pieces. Some companies will give you discounts on your premiums if you have a home security system or home safe for storing your insured valuables.
If possible, keep receipts and any verification certificates for your insured pieces. While this isnt often possible for those antique heirloom pieces, its good practice to keep these records on any new jewelry you purchase. Additionally, take frequent photographs of your jewelry and get your frequently worn pieces inspected by a jeweler on a regular basis to check for wear and tear. You also will want to have your pieces reappraised every few years, as the price of stones and metals fluctuates, so a piece worth $15,000 now may be worth $20,000 in five years. Keep all records related to your jewelry and insurance policy in a safe place should you need to make a claim.
What To Expect When Selling Your Old Jewelry
Another way to make some cash is to sell your jewelry for its scrap value. This means youre selling it only for value of its materials. It will be disassembled and melted down into a bullion. This is the easiest way to sell your jewelry. To do this you have to go to a gold buying store with your jewelry or mail them off. They will usually make you an offer immediately. Here is a quick rundown of what returns you might see depending on the market from Bob Frick at Kiplinger:
When you sell gold coins or bars, you should expect to receive at least 90% to 95% of the current market value. But with gold jewelry, youre likely to get only 70% to 80% of the melt value. The difference reflects the dealers profit, plus the cost of melting and refining your gold and turning it into new gold jewelry or bullion.
You should know what kind of scrap value youre working with before you do this. You should bring your gold and silver items to a local metal buyer for appraisal first and it up to you decide to sell it there or not suggested Steve Gillman at The Penny Hoarder. If they make you an offer you still have the option to shop around for the best deal.
The American Gem Society offers some simple steps if you want to determine the scarp value on your own:
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The Pros And Cons Of 14kgp Jewelry
Lets look at what you stand to gain or lose when you purchase 14kgp jewelry.
- It is much more affordable than 14k gold jewelry
- When its new and taken good care of, it looks like 14k gold
- There are unlimited options of what you can get in the market
- You can change them based on the fashion season
- Most fashion jewelry, which many love, consist of plated jewelry
- They tarnish after a while, exposing then an inexpensive base metal
- They dont have a resale value