Common Types of Gold
Sell Your Gold: Determining Value
Determining the value of gold uses several factors that you should know when you go to sell your gold. For the most common and broad explanation, buyers look at the karat, weight, and purity of the gold piece. A solid gold piece is known as 24 karats. Therefore, if you have a 10k piece up to 22k, it’s not pure, but made up of other metals called alloys.
Purpose of Alloys
Solid gold is very soft. Therefore being the main reason for when it was first discovered, it was useless for much of anything outside of currency. When used in jewelry, solid gold is too soft to not hold its mold, let alone an expensive diamond in the center of an engagement ring. For that reason, it’s often combined with other
common metals, with the process of adding alloys. Common alloy mixes include gold, lead, nickel, aluminum, copper, silver, and platinum.
Diving Deeper into Gold Prices
Gold prices are set each and every day. In addition, they fluctuate with the market. The London Gold Market Fixing determines the gold market. It consists of several major London based banks to determine the fair market pricing, updated daily for people and businesses to sell gold. This was first discovered and implemented in 1919. It continues to be the way fix market pricing for the world is decided.
Sell Your Gold: Common Pieces of Value
- Necklaces and chains
- Scrap gold (broken jewelry)
- Gold dental wear
Gold Cash Buyers Promise
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If you are looking to sell your gold, please don’t hesitate to visit our website or give us a call at our toll-free number 1-877-857-6227.