What You Need to Know about Gold Buying

by | Jun 21, 2018 | Diamond Jewelry

Most of us have a piece of jewelry or two that we once loved, but now no longer wear because our tastes have changed. It’s also possible that you have jewelry that you don’t wear because it was inherited from a relative and, while no doubt lovely, just doesn’t suit you. Perhaps you have broken jewelry that you’ve been holding onto. Whatever the case, working with a gold buying company in New Jersey can help you get value out of those unused pieces. What should you know?

Why Sell Gold?

Why would you sell your gold jewelry in the first place? There are plenty of reasons that people choose to sell their old jewelry. One is to unlock the value trapped inside the jewelry. Gold is no longer used as currency, so you cannot simply pay for goods or services with a piece of jewelry no matter its intrinsic value. By selling it, you can gold buying company in New Jersey in US dollars, which can then be used for whatever you might need. You may also want to sell old jewelry to make room in your jewelry box for newer items that better suit your current tastes.

Weight Matters

When you work with a company that offers gold buying services, you’ll need to weigh your jewelry before you can sell it. However, gold is weighed a bit differently from other materials. The standard ounce contains 28 grams, but a troy ounce (the standard weight for gold and other precious metals) is 31.1 grams. The jeweler buying your gold should weigh it accurately before making an offer.

Karats Make a Difference

The karat rating of your old gold is an indication of purity. The higher the karat rating, the purer the metal. Of course, pure gold is not used for anything because it is simply too soft. It is alloyed with other metals to give it more strength and durability. Anything labeled as “gold jewelry” must be at least 10 karats, but you will also find 14 karat, 16 karat, and 18 karat gold. 24 karat gold is as close to pure as you will find on the market, as well. Make sure that the jeweler separates any jewelry of different karat content before weighing it.

In the end, it’s vital that you work with a reputable jeweler offering gold buying. We invite you to contact Lincroft Village Jewelers to learn more.

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