The value of gold is determined constantly as the market changes. Most gold buyers will post a daily number to let you know what the trading price for pure gold is for that day. But, this isn’t the sell price of the gold you bring into the jewelry store to sell to them. That is figured differently.
Value of Gold
The scrap gold that you have for sale is likely old jewelry. Jewelry is not normally made from pure gold. Gold is a soft metal and it just doesn’t stand up to a life of bumps and scratches. Pure gold will very easily bend out of shape.
So, what jewelry makers do is mix the pure gold with alloy metals. These other harder metals mixed with the pure gold toughen it up. Now it is ready to use to create their jewelry masterpieces. The mix will end up being either 10k, 14k or 18k gold. The number lets you know how much gold is left in the mix. 10k gold has less gold in it than 18k gold. When you sell your scrap gold, you’ll receive today’s gold price for only the pure gold in that old jewelry, less a commission.
All that glistens isn’t gold, but many times, gold isn’t even gold! The yellowish color of pure gold is called the color gold. But there are other colors of gold, as well. Depending on which percentages of copper, silver and other metals they use as an alloy, you can get gold in a rosie red color, green, or white.
When you’d like to see your old scrap gold jewelry, stop by Ben David Jewelers and we’ll give you our very best gold price. Gold prices have been starting to inch down, so the sooner you come in, the better price you’ll get.