The price of gold per gram will change from day to day. On some days it can change quite a bit throughout the day. However, this is only one factor that determines how much a jewelers will give you for your gold jewelry or you will pay when buying gold for yourself.
Price of Gold per Gram
When someone decides to sell an old necklace or ring to a jeweler, they usually don’t realize that the jewelry is really only worth its weight in gold. And that weight is determined after the gemstones have been removed. So, you might have a bracelet that is made with 10K gold and it has lots of crystals in it. First the crystals are removed. Then it is determined how many karats your gold is. 10K gold is a very durable gold, because it has other metals mixed into the gold to make it harder.
So, you will go in thinking that you have this heavy gold bracelet that has to be worth a fortunate at today’s $36.99 price of gold per gram, right? But by the time those heavy crystals are removed and you find out the gold is only 10K (not pure gold), then it is getting worth a lot less than you thought.
To make matters worse, just because the price of gold per gram is $36.99, it doesn’t mean that is what will be paid to you. The jeweler isn’t going to buy gold from you at the same rate they will have to sell it. A jeweler is a merchant and they need to make money, too. So, they will deduct 10% or whatever their commission is and you will get the rest. You thought you’d sell that bracelet for a couple of thousand dollars and are disappointed when it turns out to be worth about $40 once it is said and done.
Pure gold is traded on the market, but people do not usually purchase pure gold. Your jewelry is hardly ever made of pure gold, because it is too soft and pliable. They need to melt the gold and add other metals to it in order to make it harder and more durable. 24K gold is the softest of the golds, 18K is a good hardness for jewelry, 14K is popular for rings and those who need to save some money will get rings made in 10K gold.
Where to Sell Jewelry
Jewelry can be sold to many jewelers, including Ben David Jewelers. They will usually buy it for its weight in gold less their fee. But, if you have something that is particularly special then they might sell it for you in their estate jewelry case. In this case they charge a commission of the sale. Your jewelry is insured for the time it is in their possession, of course. The estate jewelry case is where special, pre-owned jewelry is kept and sold to the general public who are shopping for antique rings and other special jewelry.
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