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Have you ever wondered how to sell gold? If you have gold jewelry that you no longer wear or have inherited some jewelry which is not to your liking, selling it will make some of your dreams come true. Like everything else, when selling gold or selling silver, the more you know, the better you will do. In the following paragraphs I will address the history of gold, how gold is measured and how gold stamps work.
1) A brief history of Gold.
a. Gold has been valued by humans since before ancient Egypt rose to greatness. Since gold appears in nature in its native state at a high level of purity, early humans would find gold nuggets in streams or in other deposits. Gold flakes have been found inside caves where prehistoric drawings adorn the walls suggesting that early humans discovered gold and valued it for its aesthetic qualities. Gold is a very noble metal. This means that gold can easily be formed by striking it into shapes or plates which then can be carved or turned into coins. Alexander the Great is said to have funded his campaigns using gold that his troops mined along the way in his travels. Ancient Egyptians covered sarcophagus and other items with gold to praise their gods and pharaohs. Fast forward to modern times and we are using gold not only for jewelry and coins, but for electronics, surgical implants, and other uses which exploit gold’s heat and electrical conductivity.
2) Gold Sources, Purity and Measurement.
a. Gold can be found in almost every country throughout the world. Gold is either found in alluvial deposits which are caused by rivers exposing gold deposits or in mining operations where large quantities of earth are moved and processed to extract gold. Gold naturally occurs in purities of 85% or higher. Gold is heavier than other minerals found around it and therefore it is easy to separate using water sluices. Once gold is separated from the minerals which surround it, it is refined using either a chemical method in which gold is dissolved in a solution called aqua regia, which is a strong acid solution, or it is melted along with mercury which causes impurities to concentrate in a layer of the melted gold which is called slag. Once the slag is removed, gold has been refined to 100% pure.
b. Gold is a very easy metal to alloy. This means it can be combined with other metals to achieve production goals which would make a harder metal or a metal of a different color. For example gold is alloyed with copper to make rose gold and with tin and silver to make white gold. Aside from this gold is also dissolved in solutions to create electroplating applications. These applications allow gold to be plated onto wire and for other industrial purposes.
c. In jewelry gold purity is defined by Karat. 24 karat gold is defined as gold which has 24 out of 24 parts made of pure gold. Pure gold is very soft and seldom used for jewelry as it is easy to bend and wears and scratches way too quickly. 18 karat gold, or gold which has 18 parts pure gold and 6 parts of something else, is commonly used to make high end jewelry. 14 karat gold or gold that is 14 parts pure gold and 10 parts something else, is also used to make jewelry as it is harder and more durable than 18 karat gold. Gold is measured in Troy Ounces. The old question what weighs more an ounce of gold or an ounce of feathers is actually a trick question. Gold is measured in Troy Ounces and feathers in Avoirdupois Ounces. There are 31.1 grams in a Troy Ounce and 28.35 grams in an avoirdupois ounce. Therefore the Troy ounce, the ounce of gold, is heavier than the avoirdupois ounce. Conversely, the troy pound is lighter than the avoirdupois pound. Thus making the pound of feathers heavier than the pound of gold.
3) Gold Stamps and Identification.
a. The Federal Trade Commission regulates the trade of precious metals and directs manufacturers on how to stamp and identify gold. In the United States an item must be 10 Karat Gold or higher karat to be called gold. Also, gold that is plated must be plated with 10 karat gold or better to be called gold plated. Gold jewelry fineness is identified by a stamp which tell you how pure the gold used in the piece is. 417 or 41.7 percent gold is 10 karat gold. 585 or 58.5 percent gold is 14 karat gold. 750 or 75 percent gold is 18 karat gold. Normally a piece is either stamped with a three digit number or the actual karat content, such as 14K. Jewelry which is gold plated or gold filled is stamped with a GP or GF after the karat of the gold. For example 18 KGF, denoting that this piece of jewelry was manufactured using 18 Karat Gold Filled. Gold filled jewelry is jewelry manufactured using a solid layer of gold which has been mechanically bonded to a base material such as silver or a base metal like pewter. Gold plated (GP) is when an electroplating method is used to deposit a very thin layer of gold onto silver or a base metal.
Now you know the process which got your gold jewelry to you and how its labeled and what purity and weight means. So, now you need to locate a place to sell gold. We can give you a fair cash offer for your gold, silver and precious metals!