What is the current cost of gold? How is gold jewelry weighed? What makes gold prices fluctuate? Is now the time to sell my sentimental gold pieces? Here at Gold Cash Buyers, we answer these questions and more from our sellers, daily. There are so many factors that play into gold worth. For example, is your gold scrap gold that needs to be melted, or pure gold ready to be re-sold. We’re breaking down the basics and answering one of our most commonly asked questions, how much is my 14k gold worth?
How Much is 14k Gold Worth: Karats
Gold jewelry is found in karat, or carat, measurements. A karat defines the purity and clarity of gold, dependent on the weight of a gold piece. For example, 24k gold is the purest and softest form of gold found. Therefore, each karat in jewelry indicates 1/24th of a whole. When jewelry is made, it’s most often in 14k or 18k gold. This is because it is much more durable than pure 24k gold. When using gold that isn’t pure, it is mixed with alloy metals to make it durable and strong.
How Much is 14k Gold Worth: Alloy
Gold alloys in jewelry take what would otherwise be very soft and non-durable jewelry and turn it into a strong, lifelong piece. It hardens the gold by adding copper, silver, nickel, palladium, or zinc. When combing these metals, it’s called alloys.
Common Types of Karat Gold
Determining the Worth of your Gold
Pricing for gold is determined by basic supply and demand principles. This fixed-price fluctuates daily using a fairly simple system. For easy explanation, the price is determined every day in London by it’s biggest bullion banks. Then, they establish a transaction price for the day based on various principles. At any given time and date, you can look up the price of gold for the day you are looking to sell. Currently, we are in a high-price market making it a great time to sell.
So, How Much Is My 14k Gold Worth
As stated above, this is a daily fluctuating price. Good news for sellers right now, gold is at an all-time high demand and price. Your gold worth is determined each day in the London market, but when re-selling pieces, you won’t get full market value. There are added costs that occur for buyers. Therefore, depending on where you sell, you will likely get 70-80% of your gold worth when it comes to jewelry and 90-95% market worth for bullion and coins.
Online Selling versus In-Person Selling
Selling online, safely, is a fairly new process that gives the seller more bang for their buck. Online gold cash buyers are able to offer more money for your pieces, as their overhead costs are lower. In addition, at Gold Cash Buyers, we guarantee and insure all packages as well as send a pre-paid FedEx shipping label directly to you. Selling online is fast, convenient, and safe with the ability to track your package from the moment it leaves your hands. So, if you’re wondering how much 14k gold is worth, or looking to sell other gold pieces, contact us today. Click here to learn more about our business.