Are You Thinking About Selling Your Gold
People have many reasons for choosing to sell their gold pieces. Sometimes their gold pieces no longer hold any value to them or they may want to sell their gold for cash. Regardless, when it comes to selling, .
When you compare the price of gold to that of other metals, gold is continually increasing in value. Selling gold has many benefits. Investors specifically like buying gold because gold can readily be converted to cash and does not carry the same level of investing risk as stocks or bonds.
How To Find Out The Value Of The Gold In Your Jewelry
To figure out the value of a piece of gold jewelry, you need to determine how much the pure gold in it is worth, and this value depends on the precious metals price on the market.The market price of gold changes every day, and you can look it up on a variety of websites .Keep in mind that the gold price quoted on commodity exchanges does not reflect accurately the money you could get for your jewelry if you decide to sell it.To get a better estimate of the value of your gold, you can reduce its current market price by about 20%-30%.
The result will be the approximate price you can expect gold dealers to pay most of them will usually offer you about 80% of the market price of gold per gram.
Purpose Of Stamps Or Hallmarks
While you may come across some pieces of gold that are not stamped with purity, most gold, especially jewelry, will come stamped with what’s called a “hallmark” as a reference and even a selling point. Jewelry stores or big box stores in the U.S. stamp all gold with purity. While U.S. gold standards enforce the stamping of purity somewhere on the jewelry, you may still come across a piece of unmarked jewelry, such as antique or handmade pieces.
The stamps and any laws behind stamping jewelry will vary by country, and if you come across an unstamped piece of gold that is marketed as of a certain purity, its best to proceed with caution and test the gold using a gold testing kit.
Sometimes, jewelry that is stamped as being a certain purity can be fake or misrepresented. This is more common when ordering online from a foreign country. Usually in cases like these, the price is a good indicator of faux metals. The adage you get what you pay for holds true, especially when dealing with precious metals. Should you find yourself in the receiving end of such a situation, its a good idea to file a report with the Federal Trade Commission .
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Why Do We Have Different Gold Weights
Gold is a soft, malleable metal. Because of this, you can have a lot of creativity with gold jewelry making and crafting. But, that also means that the jewelry itself becomes more malleable the higher karat weight it has. Because of this, many jewelers have preferences for the weight of gold they like to work with, as well as their own techniques to accompany it. Working with pure, 24k gold requires its own special techniques. Additionally, the lower the karats in a piece, the less saturated the yellow color and shimmer is. Some jewelers and consumers also have preferences for the hue of their gold, and will opt for different karats to achieve a certain, less saturated color.
Is 24k Gold The Best
After understanding the karat system, youll understand that 24 karat gold is pure gold. Initially, you may believe this means 24k gold is the best possible option. After all, purity seems to be a good thing – not only will the piece be more attractive and more sought-after, but it will also carry bragging rights, correct?
Not necessarily. While it is the highest karat gold possible and while gold is a beautiful substance, it comes with a lot of disadvantages.
For starters, gold is soft. Despite being dense, and therefore considered a heavy metal, gold is remarkably malleable and easy to work with. This makes it an ideal material for jewelry in some respects, because it can be fashioned into any shape easily, but it can also result in weakness. Wearing 24k gold jewelry can leave it vulnerable to scratching, bending, warping, and other forms of damage. For a piece of jewelry to be practical, it needs to be able to retain its shape and remain attractive for a long period of time.
Malleability and softness are just the beginning. Pure gold is also very bright. If you picture pure gold in your head, youre probably thinking of a gold alloy. The true color of pure gold is both brighter and more orange than what most people picture. Accordingly, it makes for unattractive jewelry in many cases.
That said, 24k gold is possibly the worst option for an engagement ring or other piece of jewelry its too soft, too bright, and too expensive to be worthwhile.
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How To Choose The Right Gold For You
Shopping for gold jewelry can be confusing. There are different colors of gold, different karat weights of gold – not to mention all the styles of jewelry to choose from.There is no single type or karat of gold used to create gold jewelry. And jewelry is rarely made with pure 24 karat gold.Gold purity, also called gold karat or karat weight, is an important factor when choosing a piece of gold jewelry. The most common levels of gold purity are 18K gold, 14K gold and 10K gold. Each karat weight has its own advantages and disadvantages, including hardness, strength and durability. Consider these options when choosing the right gold karat weight for your needs.
Isnt All Gold Jewelry Made Using Pure Gold
Contrary to popular belief, when you purchase a gold engagement ring or other type of jewelry, the metal used for the jewelry probably isnt 100% gold.
Pure gold, or 24K gold, is gold that hasnt been mixed with any other metals. 24K gold isnt used for jewelry for several reasons:
- First, its extremelysoft. Because pure gold is so soft, it bends and warps easily, making it a poor metal for jewelry that needs to retain its shape. Pure gold also scratches easily, meaning it doesnt take long for pure gold jewelry to become scuffed and unattractive.
- Second, itsvery bright. The color of pure gold is much brighter and more orange than what most people associate with the gold used in jewelry. Because of this, it generally isnt an attractive metal for rings, watches and other gold jewelry.
- Third, its extremely expensive. Pure gold contains almost twice as much gold as 14K gold , meaning it costs much more to produce jewelry using this metal. On the other hand, its the best type for selling your gold for cash in the future.
Because of these factors, its very uncommon for 24K gold to be used in engagement rings and other types of wearable jewelry in the United States and other Western countries.
Instead, 24K gold tends to be more popular in China and other Eastern markets, where its used in traditional Chinese wedding jewelry such as bangles, in gold bars and as a material for other collectible items.
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K 14k 18k Or More: Whats The Best Gold To Buy
Ask any jeweler in Massachusetts which is the best gold to buy and youll learn that its not an easy answer. In addition to the different colors of gold, gold can come in multiple different karats. 24 Karat pure gold is The Gold Standard, but does that make it better? Is 14 Karat gold better than 10 Karat, but not as good as 18 Karat? With the exception of gold-filled or gold-plated pieces, the answer is both yes, and no.
Lets start with 24K or pure gold. This is what is traded on the commodities market and is featured in those gold bars you see in movies and pictures of Fort Knox. Stockpiling gold is also one way many countries store their wealth and often even pay their debts. Any jeweler in Massachusetts knows how unusual it is to find jewelry made out of 24K gold. This is because 24 Karat gold is a soft metal and tends to bend or scratch easily, making it impractical for the wear-and-tear jewelry can receive. Some countries such as Asia, Africa and South America do, in fact, make jewelry out of 24K pure gold, but it is rare. Pure 24K gold jewelry has a very distinct, deep yellow tone that makes it look different from other types of gold jewelry.
Elaborating on this topic in more detail, Empire Loans CEO Mike Goldstein answers some frequently asked questions about gold in the video below.
Karat Is As Pure As You Can Get
With this form of measuring purity, gold is divided up into 24 parts, with each part referred to as a karat. Therefore, if you have a piece, like a ring, labeled as being 24 karat gold, its 100 percent pure gold. This means the particular piece is all gold, with no other metals or alloys added. Another popular gold purity level is 18 karat. In this case, the piece in question contains 75 percent pure gold. The remaining 25 percent of the ingredients are other metalsusually silver, copper, zinc, or nickel.Note: Gold pieces that are less than 10 karats cannot be legally referred to as gold in the United States.
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Gold Purity Terminology: What Is Gold Fineness
The measure of gold purity, or fineness, refers to the gold-to-metal additive ratio. Lets look at a few terms that you may come across when studying about or shopping for gold:
- Assay: A test that determines metal content and quality
- Bullion: Precious metals in a bulk, uncoined form such as gold bars, considered in mass rather than value
- Carat: Not to be confused with Karat in North America, a Carat is a unit of weight used for precious stones. One carat is equal to 200 milligrams. Outside of North America, Carat is used in the same context as Karat.
- Ductile/Ductility: How capable a metal is of being deformed using tensile force
- Hallmark: A symbol or mark stamped on a piece of precious metal that certifies its standard of purity
- Karat: Unit of measurement for the fineness of gold, with the higher numbers containing more gold and 24K being the finest
- Malleability: How capable a metal is of being deformed using compressive force.
- Millesimal Fineness: A system used to show the purity of precious metals by parts per thousand rather than karats
- Troy Ounce: 31.1034768 grams, or approximately 1.09714 standard avoirdupois ounces
- Troy Weight: A system of measurement used for gemstones and precious metals, where a full Troy pound consists of 12 troy ounces rather than the 16 avoirdupois ounces in a standard pound
What’s The Difference Between 10k 14k 18k And 24k Gold
When choosing a piece of jewelry, not only do you need to consider the quality of the diamond or gemstone but also the precious metal that makes up the setting or band. One of the most common metals used for jewelry is gold in either 10k, 14k, 18k, or 24k variants. If you’re in the market for a new piece of jewelry, it’s helpful to learn a bit about the differences between these types of gold to ensure you make the best decision for your lifestyle and budget.
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What Alloys Are In Gold
It depends. The metal alloys used in gold can vary, and can be used to create different properties, such as color or strength. For example, there is no such thing as white gold, but is instead regular yellow gold mixed with alloys to take on a whiter color.
When you see rose gold or greenish gold, these golds were made by including various alloys with pure gold to make the desired color.
K Gold: Valuable Classy And Timeless
According to everything-wedding-rings.com, many engagement and wedding rings are made up of 14k gold. One may see 14k bracelets, earrings, and necklaces as well. Gold jewelry that is rated as 14k gold gives off a softer look when comparing 10k vs 14k gold. This gold is a higher-quality blend of gold and other metals and alloys but it is still affordable for purchasing. Similar to 10k, a 14k gold piece is durable and wont easily tarnish.
According to jewelry tradition, 14k gold is the choice for timeless elegance. The 14k white gold option never seems to go out of style thanks to the complementary features next to a white diamond. The only downside is that you as the owner of a 14k gold piece need to be diligent with polishing and maintaining your jewelry.
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What Are The Differences Between Colors Of Gold
While we sometimes assume that gold is only yellow in color, we know thats not the case. Gold comes in three colors: yellow gold, white gold, and rose gold. The only difference, aside from the look, among these colors of gold is the metal and alloys mixed with the gold.
Yellow gold is said to look appealing on anyone, but especially those with olive or darker skin tones. Being the purest, yellow gold is easy for jewelers to manipulate. This type of gold can also be easily resized in the future.
White gold is less susceptible to scratching and denting, but it requires polishing and has the potential need to be dipped every few years to retain its luster and color. According to some sources such as the Diamond Pro, white gold best complements any diamonds near it.
Rose gold has become more popular over the last few years due to its unique and romantic look. Rose gold is actually the most durable among the three colors, since this type of gold is mixed with copper. However, copper can sometimes cause an allergic reaction on the skin. Because it is mixed with copper, rose gold is not available in 24k. Youll have better luck finding rose gold in 10k, 14k, or 18k.
Pros And Cons Of This Karat Gold For Making Necklace
- 14K gold necklaces are quite durable thanks to the high content of metal alloys added to the gold to enhance its durability
- Its much cheaper than 18k gold necklaces thanks to the lower content of pure gold in the 14k gold
- A good range of design and style options available for you to choose from, including white gold, yellow gold, and rose gold
- The 14k gold necklaces can be set with diamonds easily
- Small risk of nickel allergies and other metal sensitivity and hypersensitivity reactions
- The 14k rose gold doesnt look as good on necklaces, and 18k yellow gold looks quite elegant when used for necklaces.
- Some people would still opt for the more expensive 18k yellow gold necklaces over 14k yellow gold necklaces because the former looks better than the latter.
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Nickel Content And Allergies
Since a higher percentage of 14-karat gold contains other metals , 14K chains that contain nickel are more likely to cause an allergic reaction in people with such an allergy. 18K gold chains are less likely to cause a rash due to the presence of nickel, but people differ in their sensitivity to this metal, and some may need jewelry that is 20K or even 22K to feel comfortable. So, if you are sensitive to nickel, avoid low-karat jewelry that contains this metal, or look specifically for gold that is nickel free.
Durability: Which Will Last Longer
Although 10K gold is less pure, the higher proportion of other metals actually makes it harder. This is why necklaces made of 10K gold are more durable and last longer than 14K gold ones. 14K gold is less durable in comparison it contains more gold, which is actually a very soft metal. For that reason, 14-karat gold chains scratch more easily and wear down faster than 10-karat ones.It should be noted, however, that 14K gold is still pretty durable compared with 18K or 20K gold.
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Does The Gold Ring Contain Nickel
Nickel is a metal that is commonly added to gold alloys. The problem with it is that it can cause skin rashes in people allergic to nickel.
If you have such an allergy, do not buy 10k gold rings as the concentration of nickel in them could be too high for you. 14k gold rings may be a better choice, but sometimes they can also be problematic for people with an allergy.
To be on the safe side, pick a ring that is 18k and above. Its not that purer gold rings cannot contain nickel, but its concentration in higher karat gold is usually too low to cause allergy symptoms.
We Describe The Types Of Karats Of Gold And Which One Is The Best
When it comes to jewelry, the term karat gets thrown around a fair amount. While we take this term for granted, many customers arent sure what the term really means, or whats ideal.
Fortunately, when the details are laid out and communicated, its easier than youd think to find the best karat for your jewelry. Unlike other jewelers, we at Braunschweiger know that theres no perfect karat count for every piece it can depend on variables including durability, price, and more.
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