How To Appraise Your Old Gold And Gold Jewelry
February 2, 2009 | Gold Digger | Gold and Jewelry Appraisal 12 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 The same is true for outdated styles with no current store appeal.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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12 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.
One great option for old jewelry is to take out the diamonds and gemstones, and have them re-made into a new custom piece of jewelry. You can then still sell the old gold for cash!
.-= Leah@Custom Jewelry Design´s last blog ..Oscar Jewelry! =-.
Useful post. It’s worth an appraisal if you have items of high value. People who sell valuable jewelry items are often desperate, and a crafty buyer might lowball knowing full well that the person selling needs cash badly. If you know what your stuff is worth, your bargaining is more empowered.
Purchase a gold appraisal kit online or in the store. This kit will help you to determine, the nature, material, and karat of the gold to find its value. Follow the directions in the kit to appraise gold properly. This will give you an idea of what your gold jewelry is worth.
i have a 24 inch 14k gold mariner necklace, 5mm wide, would like to determine its cash value!
Good article! You might want to hold on to your gold for a little longer because gold experts are saying it is still on the rise.
Some are even saying that it *could* rise up to $10K p/oz.
One thing that so many people get confused about when selling their gold jewelry is the penny weight measuring standard. I feel like it is a way for stores and dealers to confuse consumers. The best way to figure out how much your jewelry is worth is to use grams. The price per gram can easily be found using google without having to worry about the whole troy ounce conversion confusion. Use a digital kitchen scale and you are good to go.
Gold, gold, gold. Many people really wanted to know about the value of gold jewelries, including me. Thank you so much. This helps a lot. God bless!