Gold jewelry is undoubtedly an excellent investment if you’re interested in wearing it. The experts have long endorsed the psychological and financial benefits of this personal investment. But is gold jewelry good as a purely financial investment? Investors seem not to think so.
Some important arguments are put forward
Experts say it’s a good thing to keep in mind that gold jewelry comprises 43% of the total demand for gold, and jewelry manufacturers can charge way more than the base value of gold because of the craftsmanship put into designing the jewelry. This inflated price is then subject to a variety of taxes, making gold jewelry way more expensive than the actual value of the gold.
When is gold jewelry a good investment? Should I Buy Gold Coins Instead?
Gold coins are less practical than jewelry simply because they have little practical use as they cannot be worn or integrated in an outfit. This makes an oz. bar of gold or an oz. of gold coins less costly than 1 oz. of jewelry. The fact that the value of gold coins is linked to the true value of the gold and not to any craftsmanship or visual appeal makes gold coins and bars much more practical investment. Gold coins are very easy to purchase nowadays and can be bought instead of jewelry or bars. Buying coins from a reputable online store can help prevent you from being duped for fake gold.
Is gold jewelry a good investment for the gold value?
The price for an oz. of a gold bar or coins can easily be calculated using the current gold rate while calculating the worth of a necklace is much more complicated as you need to consider the dealer’s share and the design’s worth. Again, this makes gold coins a much more practical financial investment. Gold jewelry can be invested in if you want and intend to use the jewelry so that you can get its full worth.
It is, however, a simple fact. Gold in any shape and form is a great hedge fund against inflation.
10-karat and 14-karat gold are the two most widely used metals in jewelry. Today, we will be helping you understand the difference between the two.
It’s good first to understand that the two are gold alloys made by mixing other metals to the soft gold to increase durability. The amount of gold in the alloy is measured in karats: 24-karat being pure gold.
What Is 10K Gold?
10-karat gold consists of 10 parts gold and 14 parts other metals such as copper, silver, and nickel. 10-karat jewelry is usually stamped with the marking 10K, 10KT, or 0.417.
What Is 14K Gold?
14-karat gold consists of 14 parts of gold and ten parts of other metals. Jewelry of this alloy is marked as 14K, 14KT, or 0.583.
10K Gold Is Cheaper Than 14K Gold
A key difference between the two types of gold is that 10K jewelry is usually cheaper than 14K items because of the lower gold proportion that it contains.
14K Gold Has a Better Color
In appearance, 14K gold understandably has a somewhat yellower color and is more similar in appearance to pure gold. This is not noticeable to the common eye, though; 14k gold does however tarnish quicker.
10K Gold Is Harder
Lower gold content doesn’t mean lower quality. This gold standard has its benefits. The major one being it is more durable, tarnishes slower, and gets scratched less frequently.
10K Gold: Not for People Allergic to Nickel
10K gold contains more nickel than 14K gold, which is why it is less suitable for people allergic to the metal as it may cause skin irritation and other symptoms.
Things to keep in mind when selecting 10K and 14K Gold
10K and 14K gold have their own merits, and none of them can be said to be superior to the other in all aspects. If you’re looking for a piece of jewelry, 10K is better due to its higher durability and lower cost. As for appearance, it is up to you to judge whether any of them looks better. If you’re looking for diamond jewelry, 14K may be the lowest karat of gold available, leaving you no choice in that domain.
Gold rates have started hitting record highs as the financial uncertainty of the situation has caused people to start hoard the precious commodity. Selling jewelry has never been easier as there is no shortage of choices on how to sell, ranging from your local pawn shop or to an online jewelry store. Even eBay has added a new section to its website called the Bullion Center, a place for people to trade bullion including but not limited to gold and silver coins and bars. No matter where you decide to sell your metal, here are some tips to keep in mind while doing so.
Check out all your options: Always get a quote from at least a couple of local jewelry shops to have a base price in mind while negotiating offers. This also makes sure you’re not cheated out of your jewelry’s actual worth.
Always read the fine print: Consumers are always advised to make sure they read all the terms and conditions while making a deal especially online. Even legitimate online dealers can cause you to lose money by surprising you with hidden costs.
Don’t mix karats: ‘Gold parties’ are a relatively new way to sell gold. Though they may be convenient, you may not always get the most for your gold as many cuts have to be paid. At some places, it is weighed together and valued according to the jewelry of the lowest karat.
Beware rogue buyers: “Hotel” buyers are known to move from town to town setting up camp in hotel ballrooms, promising high buying rates but end up paying a lot less before disappearing.
Check credentials and look for reviews: Always check these before dealing with a potential buyer. Legitimate buyers always have a state-issued license to buy gold and are required by law to ask for picture ID when buying from you.
Observe the scale: Though pawn shops and jewelry shops are regularly checked for compliance to weighing regulations, hotel or house-based buyers could pay you less for more gold by altering the units used while weighing your jewelry.
Is it scrap or history? Before scrapping your jewelry, you should check whether your item a valuable antique that could attract a way higher price than its scrap value.
Master Jewelers, a jeweler you can trust, will purchase your gold jewelry. With over 20 years of plus experience in jewelery industry, you know the value of jewelry is more than just money. Visit us online
Before you start selling your gold jewelry, here are some of the greatest tips you need to follow.
Don’t rush, take your time!
Before you begin selling your ornaments, make sure you spend enough time examining every piece of your jewelry. Jewelry often holds sentimental value, so make sure the emotional worth it carries is greater lesser than the cost price of the product or else go for the worn-out and lost pair pieces.
Your buyer must know the worth of your jewelry
Ensure the company you are selling your jewelry to is a legitimate market with a proper license to buy your gold jewelry. Check their customers’ feedbacks section and see how satisfied they with their buying are and selling of the company’s products.
Know what you have
Most gold jewelry is not pure gold. It comes in a certain amount of gold mixed with other alloys that ranges from 10, 14 or 18 karats and so on. You will only be paid for the gold that your jewelry contains.
Consider the right evaluation
The intricate and antique jewelry that is costly and seemingly in demand needs to be evaluated by the right person before selling in the market. The evaluation must be done on the significance of the piece and its current demand in the market. There’s a high chance that it would be beneficial to sell it as a finished product.
Know the worth of your jewelry
Keep yourself updated with the market price of the jewelry. The prices may vary but will give you a rough idea of the worth of your piece.
It is recommended to keep a photograph and an official copy of your gold’s document as it will help you get a reimbursement in case a mishap takes place.
Try your luck everywhere
Get good rates bids from multiple buyers before you choose one buyer. Your offers may differ from buyer to buyer depending where you sell it.
Selling your jewelry will not necessarily make you rich. You will only be paid for the amount you sold your jewelry for after deducting the amendment charges.
Master Jewelers has over 20 years’ experience within the jewelery industry. Contact us today to sell your gold.
Spring is here, and it is the time of year to give your home an in-depth cleaning. Spring cleaning is all about cleaning your home after the enclosed winter months. The weather has changed allowing you to comfortably open your home and clear it of the extra dust and clutter.
Spring cleaning isn’t your basic cleaning but more about clean in the deep corners of your closet. One place that gets missed more season than one is your jewelry box.
Too often we forget to clean out our jewelry boxes from the clutter or old pieces we no longer wear. Some of this is because of pieces are broken and hold too much of sentimental value to get rid of them. Or other pieces we haven’t gotten around to fixing. Cleaning your jewelry once a year isn’t enough, and it is important to remove clutter from your box so all the other pieces don’t tarnish over time. Here are 3 ideas for your old jewelry this Spring.
Stop Procrastinating and Bring your jewelry into Repair
That is right, Master Jewelers has an on-site jewelry repair center. We have expert jewelers with over 20 years of experience waiting to help you with your latest jewelry repair. The hardest part is walking through our doors and starting the process. We will walk you through every step of the repair.
Turn your Old Jewelry into Something New
A popular way to reuse your jewelry is to melt your precious metals and custom make a new piece. A great option for all those broken chains or old items you no longer use is to create a custom piece of jewelry. At Master Jewelers, we can custom make any jewelry design you have in mind. You don’t have to get rid of your jewelry to make a more favorable piece. Instead, use the sentimental pieces to make a new piece you will love. Making a new piece will keep the sentiment, but replace it with something you will love to wear.
Sell your precious Metals and earn cash back
Another idea for your less sentimental is to let us buy back your Gold Jewelry. Certified Gold and other precious metal Buyers like Master Jewelers will give you the daily market price per ounce. It is a win-win. You get rid of those meaningless pieces of jewelry and get cash back. Who knew you could earn cash from cleaning.
This Spring don’t put off cleaning your jewelry box. Maybe you have pieces that fit into each category and that is ok. We can help you figure out which pieces you would like to use for each category. Come into our Indianapolis location or visit us online to see how we can help!
Do you have old or outdated gold jewelry? Family heirlooms, you don’t want to throw away but just aren’t your style and collecting dust in your jewelry box? It only makes sense to turn your old jewelry into something new. Create a whole new design, something you will love to wear. There are a few ways you to craft new jewelry from old gold. First, it is best to research a jeweler that has a custom design process you can trust. Make sure they have experience in not only custom design but have options for your old gold.
Master Jewelers is more than willing to help you find the best option for your old gold. Whether it is custom designing a new piece or exchanging your Gold for cash, we have options available to best suit you and your design. If you have some less sentimental pieces of Gold, you may explore the option to sell your gold. Since 1987, Master Jewelers has provided a Gold and precious metal purchasing to their customers. It is a great way to make some extra cash and declutter your jewelry box. Here is more information on Gold purchasing.
Reinvent Your Gold
Another option is to melt down your old gold and use it to custom design a new piece of jewelry. Jewelry is naturally sentimental as it usually represents a memory of someone or moment in time. It is hard to let go of some jewelry. However, you could use the materials from the current piece of jewelry to update or redesign.
If you have a Grandmother’s old ring or want to update your wedding ring, melt down the current metal settings and reuse your gold or precious metals to reinvent the new piece. This way you don’t lose the piece of jewelry or the memory. Custom designing jewelry out of the old Gold is a creative way to celebrate those unique pieces. You could also infuse different pieces together as well to create an epic piece, but we leave that for you to decide.
At Master Jewelers, we want to make sure our customers come first. Our Custom Jewelry Design Process is as simple as 1-2-3 that you are part of every step of the way. Our Expert Artisans will bring your new vision alive and transform your jewelry box.
Platinum, Gold, and Silver are all considered precious metals. We use precious metals to make jewelry. The authenticity of precious metals is very important to the value the purity of the pieces. Each metal has their own units to be measured in, and stamped with the appropriate value. Precious metal stamps are a sign of prestigious jewelry, as it represents the price valued of the metal worn.
Platinum is considered to be the elite metal. It is very strong and durable, while keeping its shine. It is a higher price valued metal on the market today. An authentic Platinum stamp or mark will consist of 95 to 90 percent. The stamp is standardly issued with platinum, palladium, plating, plat., or pall.
Gold is the most popular metal. It is available in various colors: yellow, rose and white. It is a long classic over several eras and cultures of history. Gold is measured in karats with 24K or 24 Karats being pure gold. Commonly, Gold is sold in a range of purity levels. You can find it in 14 Karat, 12 Karat and even 10 Karat. Karats of gold are using a decimal figure meaning that .416 is equal to 10 Karats. Gold items are stamped with the with the numerical value and K, karat, Kt following.
Gold is also regularly used to plate weaker metals for cheaper valued items. This would be read as rolled gold plate, R.G.P.
Silver is frequently misrepresented by other metals. Many call a lot of random metals “silver” in confusion to the color resembling Silver. It is easy to mistake “nickel silver” or Tibetan Silver as real Silver. Silver is pure when it measures 92.5% pure silver. Legitimate pieces will be marked with silver, sterling, sterling silver and with a formation of .925.
Buying precious metals is a risky business if you are inexperienced. There are a lot of different components when it comes to appraising an item. We can’t take the common eye view of the piece in order to authenticate the item. At Master Jewelers we have certified appraisers within our team of experts that can help find or evaluation purchases of precious metals.
First wedding anniversaries is a day filled with just as much love as your actual wedding day. Catered to reminiscing about all the special details and love shared on that perfect day, your first anniversary is one to cherish and remember. It is an exciting milestone because the marriage is still new, and the honeymooners are learning what this new union means to them.
While there are many tokens that represent the first anniversary keepsakes, Gold is the most traditional. First-anniversary gift is usually not extravagant as the newlywed couple is commonly focused on their next step and investing in their future. None the less, the day is still one to be celebrated just like it was on the original day
Here are a few pieces of key advice to help you celebrate your anniversary in style.
Picking a gift out for your spouse is generally a task someone should do out of thought and love. While it suggests gold as a traditional gift, you must keep your spouse’s style in mind. After all this gift is to represent your love for them. What says I love you more than I know what you like. If this means getting them rose gold versus traditional gold, then so be it. Find an additional piece of jewelry like earrings or a necklace, whether it be for daily wear or a special evening wear, she will love it just the same.
Same rules apply here. Get him something that will make him smile and let him know you pay attention to him. Finding something to represent you love isn’t easy, but the thing to remember is you know him best. Gold Ring or even a white gold bracelet would be a great daily reminder of the love you two share. Don’t see a piece that comes close to your vision? You can always custom design a piece of jewelry for your loved one.
Treasuring your loved one is more than one special day. As your love reigns on so will your jewelry to paint the visual picture of your love story. Master Jewelers is dedicated to helping you celebrate your love. With years of expertise in bridal jewelry, we know our job isn’t done after you say “I Do”. Visit us online or at our Indianapolis showroom today.
Dating back hundreds, if not thousands, of years, gold has always been a valuable commodity. From the giant west coast gold rush in California in the 19th century to a long history of gold jewelry, gold has been a sought-after metal. While gold is largely seen as valuable, the valuable of gold is in flux, changing from day to day based on the market value per ounce.
If you are looking to sell your gold, perhaps in the form of old jewelry, a credible jeweler that offers a gold purchasing service is a great place to start. It is important to note that the gold may still be worth quite a bit, even if a gold chain is broken or the style of the ring is outdated. What matters most is the karat of the gold, or the fineness, of the gold as well as the weight.
Carat Weight Versus Karat
When talking gold purchasing, it is important to highlight the difference between carat and karat. Carat weight of gold refers to a unit of weight used in the measurement of gold. The unit is 200 milligrams (i.e. one carat is .200 grams, or 200 milligrams). The term karat refers to “unit of measure for the fineness of gold, equal to 1/24 part.” Both measures are taken into consideration when a jeweler is determining how valuable the gold that is being sold is. Karats will tell a jeweler how much gold and how much alloy is in the metal blend. For example, 24k gold is 100% gold, whereas 10k Gold is the equivalent of 41.7% gold and 58.3% alloy.
Pennyweight is another term you will come across when looking into gold purchasing. Pennyweight is another unit of measure when it comes to determining the weight of gold.
What goes into a price quote?
In order for a jeweler to tell you how much your gold is worth, they will have to take a number of factors into account, such as weight, fineness and how much refining the piece will need in order for it to be restored back into its pure state. The value of the gold will also be largely determined by what the going rate for an ounce of gold is.
At Master Jewelers, we have been in the business of purchasing gold from our customers since 1987. We take all of these factors into account when giving customers trade-in values on their gold. We have over 30 years of experience and make near-weekly trips to the refinery. For more information on our gold purchasing services, click here. We can connect you with one of our experienced jewelry experts to give you a quote on what your gold may be worth.
Our Master Jewelers team is here for you. Whether you are looking to sell your old gold jewelry and replace it with something new or design a custom ring with one of our experts, we will walk you through the process step-by-step. We bring years of education to the table and believe that every love is unique, and therefore, so should your jewelry shopping experience.
Before you set out to sell your gold jewelry, make sure to follow these tips to ensure that you get the best value for your cherished pieces. When you keep these items in mind, you will be able to have a better gold-selling experience.
- Know What You Have. Gold jewelry is rarely made from pure gold. Most jewelry in the U.S. is comprised of gold and other alloys. When selling your gold, you will only get paid for the parts that are pure gold. Also, keep up with the price of gold. Check out websites to give you a reference point when comparing offers.
- Carefully Determine Which Pieces to Sell. Don’t act on a whim. Most of your jewelry has some emotional value. Make sure that the sentimental value does not outweigh the price you will receive in return. Sometimes, it is best to consider broken items, outdated items, or incomplete and missing sets of jewelry.
- Find a Reputable Jeweler. Check with the Better Business Bureau or the memberships a business or jeweler may hold, such as with professional organizations. It is also important to see how long they have been buying gold.
- Protect Yourself. Before leaving your jewelry with – or shipping your jewelry to – a potential buyer, document and photograph the pieces. Check the company’s reimbursement policy in the event of a loss. If the value is significant, be sure to get an appraisal first.
- Be Realistic. For most people, selling gold jewelry will not make you rich. However, it might put some extra dollars in your wallet. Remember that you will only get paid for the amount of gold in your jewelry, minus any other processing or refining fees.
The best place to start is by visiting Master Jewelers today so you can be confident in the advice and service you receive. To learn more read Gold Buying Demystified