As a consumer, you might not think about the intricate process that goes into determining the value of your Bullion Dealer. You may have heard that you can get cash for your gold, but you don’t know exactly how much it’s worth or what determines the price. There are several factors that affect the final price of your gold and how quickly it sells at a pawn shop or other jewelry store.
The Four C’s
Carat is the weight of your gold. It’s divided into 100 parts called points, and it’s used to determine the purity of your precious metal.
The higher the carat, the more valuable it is–but only if it’s pure gold!
The carat weight of your gold is a way to determine the purity of your precious metal. It’s divided into 100 parts called points, and it’s used to determine the purity of your precious metal.
Testing for Purity
The purity of your Sell Gold is determined by the karat rating. A higher karat rating means that a smaller percentage of other metals have been mixed into your gold alloy, which means that it’s purer and therefore worth more money.
A refiner will test for purity by performing an acid test on your sample, which involves dropping some nitric acid onto it and observing how it reacts with any impurities present in the material being tested. If there are no visible signs of corrosion or discoloration after five seconds (which would indicate high levels of impurities), then they can be sure that their sample contains at least 90% pure gold–which means you’ll get top dollar when selling your coins!
The acid test isn’t the only way to test for purity, though. A refiner can also perform a fire assay, which involves heating your sample until it melts and then cooling it down again while measuring how much gold was left behind. This method is more accurate than simply dropping acid on your material because it doesn’t rely on human error (like when you drop a coin).
Grading for Quality
When you’re selling gold, it’s important to know what quality of gold you have. The karat rating is a measure of purity and fineness. Pure gold is 24 karat; other types include 22 karats (999 fine), 18 karats (750 fine), and 14 karats (585 fine).
The grain size refers to the size of individual grains within your piece of jewelry; larger grains mean higher quality because they’re easier to work with when crafting new pieces or repairing old ones.
When you’re selling gold, it’s important to know what quality of gold you have. The karat rating is a measure of purity and fineness. Pure gold is 24 karat; other types include 22 karats (999 fine), 18 karats (750 fine), and 14 karats (585 fine).
Determining Weight
When you bring your gold to a gold buyer, they will need to know the weight of your gold in order to determine its value. This can be done by weighing it with a scale or using a jeweler’s scale. If you don’t have either of these items, there are many online calculators that will help determine the weight of your jewelry based on dimensions such as diameter and thickness.
You’ll need to know the purity of your gold as well. This is usually expressed in karats, with 24K being pure gold and lower numbers indicating a higher percentage of other metals mixed in with the gold.
Gold buyers use a variety of criteria to determine how much your gold is worth.
Gold buyers use a variety of criteria to determine how much your gold is worth. These include:
- The “4 Cs” – Obvious, right? In this case, the four C’s refer to the four main factors that affect how much your gold will be worth: carat (weight), clarity, color and cut. You may have heard of these terms before but not known what they meant; now you do!
- Testing for purity – Gold buyers test their gold using various methods such as acid testing or fire assay (melting down). Some companies will even send out samples for third-party testing if they don’t have access to these tools themselves.
- Grading for quality – Just like diamonds are graded based on appearance and cut by professionals at jewelry stores all over America every day, so too can you expect them when selling your own precious metals at local pawn shops or online dealerships like ours here at [your company name].
The best way to get the most from your gold is to understand how it works. We’ve provided some of the basics above, but if you want more information or have any questions at all please feel free to reach out!
Conclusion
If you have any questions about how to sell your gold or silver, contact us at (800) 925-9168. We are happy to help you determine the value of your items and give advice on what steps you should take next.