Come by our kiosks in the G&G Markets and turn your old, unwanted, and broken gold & silver jewelry, and dental gold into CASH for the holidays!
Understanding Gold
By The Exchange “ Cash for Gold & Silver”
At The Exchange we buy precious metals on purity and weight.
In the United States the purity of gold is designated by the Karat. Pure gold is 24 Karat(K). It’s extremely rare for scrap gold buyers to be offered 24 Karat gold for purchase. Other metals are added to make gold harder and more durable. Relatively few pieces are sold with purities of 22K to 24K, as they are not only cost-prohibitive but also have difficulty retaining their shape as well as staying scratch-free. Pieces sold in this karat range are frequently purchased for investment value only or worn once in a blue moon for very special occasions.
While 18K gold jewelry (75% gold) is often sold, the most popular karat of gold jewelry (at least in the United States) is probably 14K, which is 58.3% gold. 14K gold is durable enough for items worn daily, making it a popular choice for casual necklaces and rings.
In Europe gold is stamped according to its “fineness.” Pure European Gold is 1000 fine. 18Karat (Kt) is 75% fine or 750f. Thus, an 18Kt gold ring made in Europe would typically be stamped 750f.
Gold is measured in Troy measurements, grams and pennyweight.
The troy ounce is part of the troy weights system derived from the Roman monetary system. Later standardization would change the ounce to 1/16 of a pound (the avoirdupois ounce), but the troy ounce, is heavier than the avoirdupois ounce. One troy ounce I about 10 percent more than the avoirdupois ounce.
To maintain purity standards and common measures across time, the troy ounce was retained over the avoirdupois ounce in the weighing and pricing of gold, platinum, silver and gunpowder.
At The Exchange we measure in pennyweight (dwt). The pennyweight is the common weight used in the valuation and measurement precious metals by jewelers, dentists and dental labs in calculating the amount and cost of precious metals used in fabricating or casting jewelry, dental crowns and inlays.
Come by our kiosks in the G&G Markets and turn your old, unwanted, and broken gold & silver jewelry, and dental gold into CASH for the holidays!
