Many Americans have old gold jewelry that they simply don’t wear any more. Old gold jewelry, however, is a valuable resource for Americans that are struggling to make ends meet. If you’re planning on selling your old gold jewelry, it’s important to find a gold dealer who will pay a fair price for your pieces. That’s why understanding the gold karat system is so important—the more you know, the better prepared you will be to assess if you’re receiving a fair price for your items.
The gold karat system is used to measure the purity of an item. More specifically, it is used to determine what percentage of your item is actually gold and what percentage is any other metal. By determining what percentage of your jewelry is gold, a gold dealer can more accurately assess its value. Generally speaking, the higher the karat, the more valuable your gold will be.
The gold karat scale ranges from zero to 24. Pure gold is 24 karats, containing 24 parts gold and zero parts other metal. The math for determining the percentages of gold in other pieces is fairly straightforward. For instance, 10-karat gold contains ten parts gold and 14 parts other metal, while 18-karat gold has 18 parts gold and just six parts of other metals. You can figure out the percentage with simple division. For example, 18-karat gold is 75% gold, or 18 divided by 24. When selling your gold, be sure to have your items separated by karat number to ensure you receive a fair price for each of your different pieces.
Take your gold to the reputable experts at Coins of the Realm in Rockville. We will accurately and fairly grade your precious metals to ensure you receive a fair price for your items. Call us at (301) 340-1640 today to learn more.