How To Appraise Your Old Gold And Gold Jewelry
February 2, 2009 | Gold Digger | Gold and Jewelry Appraisal 5 Comments
Many people are taking a closer look at their old gold jewelry and are curious of its value. Before you sell gold to any jeweler, pawn broker, or scrap gold dealer, do a self-appraisal to get an initial idea of what it is worth.
There are three things to consider when inspecting jewelry:
Karat Stamp – Check your jewelry’s gold content by looking for a karat mark. A 24K mark indicates pure gold; 18K is 75% gold, 14K is 58%, and 10K is just shy of 42% pure gold. Look for this stamp on the clasp of bracelets and necklaces. The karat mark is found on the inside band of rings, and for earrings on the fastener.
(NOTE: There is a difference between carat and karat. A carat is a unit of weight for gems, and karat is a measure of purity for gold.)
Gold Weight – Any dealers who buy your gold jewelry will base their price on the weight of the gold content plus a handling fee. The less gold in the piece, the less it will bring as recycled jewelry. Twenty pennyweights, the basis for purchases, is equal to 1 troy ounce of gold.
Condition of Your Old Gold Jewelry – Scrap gold dealers and online gold buyers (offering cash for gold if you want to sell gold) will purchase gold jewelry in any condition. A broken earring or gold chain would probably be best sold for scrap. The same is true for outdated styles with no current store appeal. Pieces in good condition could have more value if sold as “estate” or “vintage” jewelry. If this is the case, a gold appraisal would be in order. Professional gold and jewelry appraisers will charge anywhere from $50 to $200 per hour.
Tags: Gold and Jewelry Appraisal, gold weight, jewelry appraisal, karat
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- Sell Gold, Get a Gold Appraisal
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5 Responses to “How To Appraise Your Old Gold And Gold Jewelry”
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I have a 30 inch 15mm gold chain necklace and the other info was that it’s 50 mills heavy plated with 24K….is it worth anything??
24k plated 30 inch 15mm necklace
Find out with our online gold appraisal tool.
Nice Work.
This is a great post. With gold at these levels, these companies that Buy Gold and people looking for the best deal, it is best to take precautions to get the best deal.