Why and How To Test The Purity of Your Gold Jewelry at Home?
By Admin Posted July 20, 2015
You have an unworn or inherited gold jewelry and want to make some extra money by selling them but you don’t have many experiences in this field. You’re afraid that cash for gold shops in town will mislead you about the value of your gold by using faulty scales, offering scrap value, and a variety of fraudulent tactics.
Why you should check the value of your gold & jewelry at home?
Your friends tell you that doing research gold buyer's background on the Internet, then shopping around for estimates and compare offers will help you avoid all those scams. Do you think that way will help you out? Yes, it will, but it can’t ensure that you will get a fair price.
With more than 20 years’ experience being a gold buyer, I would tell you one secret. Knowing exactly the value of your gold jewelry is the key to get the highest offer.
Because any gold buyer (whether they’re good or bad) will give you slightly less than the full value of your gold, as any buyer needs to make a profit. Come on, we have kids to take care just like you. But, the good buyers will give you the highest and most fair price possible.
How to test the purity of your gold jewelry at home?
With 3 simple steps, you'll see how to check the karat, the weight, the value and what you could get for your gold BEFORE you send it off in the mail to a cash for gold buyer or a local jeweler in Vancouver.
1) Prepare Essential Equipment:
Because the value of gold is based on WEIGHT & PURITY, so there are 2 essential pieces of equipment you should have.
- Digital Jewelry Scale
- Purity Test Kit (acid testing kit is recommended)
Google with the keyword “Gold and Silver Test Kit” and you will easily find hundreds of websites providing them. You can also go and get them from many seller on Amazon or eBay, but I don’t introduce you anyone of them. Because I don’t want to make you think that Vancouver Cash for Gold has partnership with any gold testing kit supplier. Hey, are you thinking about that before reading the previous sentence?
2) Test Your Gold
3) Calculation The Value Of Your Gold
The calculations to determine value are very easy. I will share a tip that make it even easier, but I want just want to make sure you can calculate it by yourself first.
Let's say you have 5 grams of 14 karat gold and the value of gold is at $900 per ounce (troy ounce).
a. There are 31.1 grams in a troy ounce, so you would divide 900 by 31.1 to find the price per gram of 24 karat gold. Here, the cost per gram would equal $28.9389.
b. Multiply the cost per gram of gold by the purity of 14 karat gold: 28.9389 x 0.5833 = $16.88 per gram of 14 karat gold. Where does 0.5833 come from? 24 karat indicates that the gold is 100% pure, so the purity of 14-karat is 14/24 = 0.5833.
c. If you have 5 grams of 14 karat gold, multiply $16.88 by 5, which equals $84.40.
Now you can see how easy it is. If you don’t like math class (like I do :D), use the gold price calculator on our website. With few simple clicks and you will get the price that you need.