Gold has been a symbol of wealth and opulence among people all over the world for centuries. People used gold to decorate their most lavish palaces, adorn their burial sites, and immortalize their rulers. It should, therefore, be no surprise that jewelry made from real gold possesses tremendous value. Unfortunately, these valuable items are often left unsold and unused, as the jewelry falls into the possession of people that have no use for it, but are worried about selling it.
There are many businesses and individuals willing to offer cash for gold, but everyone knows it’s best to be careful when it comes time to sell gold jewelry. After all, for many people, their gold jewelry may be the most valuable thing they own. Furthermore, different pieces of gold jewelry can vary dramatically in price. This variation depends on the purity of the gold (or the item’s “karats”), the value of other precious metals embedded within the piece, and the prestige of the designer.
The first item we should talk about when discussing gold jewelry is karats. A single karat is a unit of purity that essentially states, “This item is 1/24th pure gold”. Therefore, a 14-karat gold necklace would be 50% gold, while a 24-karat necklace would be 100% gold. Unfortunately, it is far more difficult for a layman to measure karats then it is for those who are used to offering cash for gold. One key point about gold, however, is that it’s a very soft metal. Therefore, a 24-karat piece of jewelry would be a particularly delicate piece.
Once one knows the purity of one’s gold jewelry, it becomes a bit easier to find a possible price. Firstly, one can look up the current market price of an ounce of gold easily online, from which one can figure out the price of one’s jewelry it terms of pure gold. When analyzing one’s own jewelry, however, it’s important to note that jewelers use a different measurement standard for gold. All gold is weighed using something called the Troy ounce. By normal U.S standards, an ounce is equal to 28 grams. A Troy ounce, however, is equal to 31.1 grams. This is important to know when one is looking to sell gold jewelry.
Of course, the most effective way to get a good deal on your gold jewelry is to go to a trusted expert, like us. We have a thorough understanding of gold jewelry, and we’d be happy to tell you exactly how much your item is worth. So, if you’re looking to get some cash for gold, feel free to contact us today.