We will help you in buying & selling of precious metals with complete transparency. If you want to exchange your old & used jewelry for cash or are interested in buying gold, please pay a visit to our store.

Our goal is to first educate you about the price of gold so that you understand what your precious valuables are really worth. Below we have outlined some of the basic things you should know about various gold karats:

• 10k gold = 41.7% gold
• 14k gold = 58.5% gold
• 18k gold = 75.0% gold
• 21k gold = 87.5% gold
• 24k gold = 99.9% gold

All of the above karats are assuming the gold is plumb (meaning the gold is the exact karat it is supposed to be).

Did you know that market price of gold is based on 24 karat gold? What this means is that if the spot price of gold today were $1,000 per ounce, the only karat worth is 24 because it is basically 100% pure gold. To figure out what the other karats are worth, you just take today’s market price times the different karat gold percentages above.

For example – (assuming gold is $1,000 per ounce today)

• 10k gold = $417/ounce ($1,000 multiplied by 0.417) $13.36/gram ($417 divided by 31.2) $20.85/dwt ($417 divided by 20)
• 14k gold = $585/ounce ($1,000 multiplied by 0.585) $18.75/gram ($585 divided by 31.2) $29.25/dwt ($585 divided by 20)
• 18k gold = $750/ounce ($1,000 multiplied by 0.75) $24.04/gram ($750 divided by 31.2) $37.50/dwt ($750 divided by 20)
• 21k gold = $875/ounce ($1,000 multiplied by 0.875) $28.04/gram ($875 divided by 31.2) $43.75/dwt ($875 divided by 20)
• 24k gold = $1,000/ounce ($1,000 multiplied by 0.999) $32.05/gram ($1,000 divided by 31.2) $50/dwt ($1,000 divided by 20)

Now that you understand what your gold is really worth, there are a few factors to consider when selling your gold. First of all, no one gets paid these prices, not even us! There are fees everybody in the industry pays to refiners to sell gold and they range from 2-5%. Second, more often than not, gold is under karatted. This means that a piece that is 14 karat gold, which is supposed to be 58.5% gold, actually may be 56%. Basically, this means that someone mixed the item with a little less gold than they should have. Lastly, is our fee. We need to make something on every transaction otherwise we would not be in business. With this basic understanding of how to sell gold, you will immediately realize a good offer from a bad one. Before you jump at the next “Cash for Gold” ad, give us a call because a place that is fancy or full of expensive jewelry for sale, does not mean that they pay very well for precious metals. To find out what we are paying today, speak to our certified experts at 563-583-5187.