Jewelry News

DO YOU KNOW HOW MUCH YOUR GOLD JEWELRY IS WORTH?
October 25, 2011

If you are selling a 1 ounce gold American Eagle and if the spot price on the Comex is $1350, then you know that you should get about $1350.00 for the coin. However, it's more complicated when you are selling GOLD JEWELRY. Gold Jewelry is rarely 24 karat (or pure gold). Gold jewelry is usually 10 karat, 14 karat, or 18 karat. So, what does that mean? Pure gold is 24 karat. Therefore, 10 karat is 41.7% pure (10 divided by 24). 14 karat is 58.5% pure (14 divided by 24). 18 karat is 75% gold (18 divided by 24). Then you need to know the weight of the gold as well as the refining costs. At Shaker Coin, we take the time to separate your gold and explain how we arrive at the price we pay. The rest is up to you...