Gold has been one of the most prized precious metals since ancient times, and its allure continues today. Whether you like to wear gold jewelry or collect gold coins, you can have it appraised at our Gaithersburg coin dealer. Even if you choose not to sell it right now, you’ll have an idea of how much it is worth and decide to sell it later. Gold is best appraised by the experts, but here is an inside look at what goes on during the gold appraisal process:
The first step in the gold appraisal process is to bring your jewelry, coins, or trinkets to a reputable dealer. A gold expert will first see if the piece is magnetic. If it is, the item is gold plated rather than actually made of gold. Next, your appraiser will use a jeweler’s loupe, or small magnifying glass, to look for purity markings indicating how many karats the piece is. In general, the higher the number, the more valuable the piece will be.
The weight of a piece of gold will play a large part in determining how valuable it is. Heavier pieces are usually more valuable and should be measured using a digital scale specifically designed for the gold appraisal process. The amount your gold piece is worth will depend on its karat, weight, current market price, and intrinsic value.
Not every piece of gold with the same karat and the same weight will be worth the same amount of money. Certain collectible items such as coins, antique watches, or designer jewelry may be worth more because they are much harder to come by. These types of items are highly valued by collectors and may fetch a higher resale price, which means that you could stand to earn more when you sell. If you’re wondering whether that family heirloom you have is worth anything, have it appraised to find out.
Coins of the Realm is Gaithersburg’s top choice for gold appraisal, grading coins, and dealing stamps and jewelry. Contact us at (301) 637-6220 to have your gold appraised. You could find out that your collection is worth more than you ever expected!