Details About Buying Gold, Platinum and Silver

It seems like everyone has a pile of precious metal in their jewelry box that they haven't worn for years. You can turn this into dollars very quickly.

For many years now we have been buying gold and we are constantly improving out technique to give our clients the maximum return on their unwanted treasures. In order to do this we are constantly finding new ways to analyze the pure metal content, weigh the metal properly, and pay the highest amount possible based on the precious metal market. 

Many people come in and ask us to do an appraisal on their unwanted jewelry. I feel that you do not need an expensive appraisal in order to sell your unwanted jewelry. Appraisals are usually used to insure your jewelry at retail value. Most of the time when clients come in with an appraisal they have recently paid a high dollar amount for, I still have to go through our in house process to analyze the content of the metal in order to offer you the correct price for your treasures. The appraisal that you may have paid hundreds of dollars for ends up taking away from your profit. When people ask me to do an appraisal on their jewelry, I always tell them it is not necessary in order to sell their jewelry treasures.

The process we use to analyze your jewelry is as follow. First we test the metal to make sure it is gold, silver or platinum. After testing the metal we analyze the percentage of pure metal content. Platinum is usually 90 to 100% pure, the other 10 % is usually another metal in the platinum family like iridium. Silver is usually 92.5% pure. Gold can vary the most of any of the other metals in that there is 10k, 14k, 18k, and 22k. 24 karat gold is pure gold. Here is a list that reflects the percentages of gold in jewelry. 

  •  100 % = 100 fine = 24 karat
  •  91.7 % = 917 fine = 22 karat
  •  75.0 % = 750 fine = 18 karat
  •  58.5 % = 585 fine = 14 karat
  •  41.6 % = 416 fine = 10 karat

The alloys used to mix with gold are silver, nickel, and copper. Different metals are chosen to mix with gold to change the color and hardness of the gold to be used in jewelry. When I sell gold, I only get paid for the pure metal after the item is melted and the alloy is burned away.

Unfortunately gold sold around the world does not always stringently follow the content percentages. There is some deviation on pure metal content. This variation that can happen in each piece of jewelry is why it is imperative that I conduct my testing in house before paying you. Just because metal jewelry is stamped with a quality stamp it does not guarantee karat content is accurate. We have found that after testing, that 14k many times in not 58.5%, but maybe 50% pure gold. These are the factors that must be analyzed before we can pay out the proper amount for your jewelry. 

 

If you have gold, silver, platinum or palladium jewelry sitting in a drawer, turn it into cash to help pay for all the fun you had this summer. I promise we will pay the highest price possible. Call Richard Dolgin Private Jeweler in Overland Park Kansas to make an appointment to analyze your precious metals.