Questions About Resources You Must Know the Answers To

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Top Tips for Gold Jewelry Shopper Jewelry of all types, specifically gold jewelry, is one of the most common things to buy for oneself and as a gift. Sadly, in the big majority of jewelry purchases, people pay far too expensive a price. The ordinary jewelry sale is calculated at “triple keystone” price, which is called triple cost by the trade. Therefore, if a jeweler shows you a book in which an item is listed at $3,000, he has probably paid $1,000 to get it. He might offer you a “bargain” price of $2,400, which is 20 percent less than the original price. Don’t think you’re taking advantage of his kindness – he will be pocketing $1400, a 140% profit on an item he bought for $1,000. You have to know the basics of gold jewelry. Jewelry marked “750” is 750 parts gold and 250 parts alloy, meaning it is 75 percent pure gold, analogous to the purity of 18-carat gold. Gold stamped “585” is 14-carat and 60 percent pure gold. Using the same logic, “375” or 9-carat gold is 37.5 percent pure gold. In England, people think highly of 9-carat gold, but it is merely considered costume jewelry in the U.S. and not a good investment. You may never be able to resell it for an amount close to how much you bought it for. Generally speaking, jewelry is sold according to its pure gold weight. To know your gold jewelry’s base value, you have to weigh it on a jeweler’s scale. Whatever its weight, you have to make deductions for the alloy content in the gold: for instance, since 18-carat gold is 75 percent gold, you’ll have to deduct 25 percent from the value to arrive at its gold weight. Hence, if the gold is presently priced at $1,000/ounce, and you have an 18-carat 4-ounce piece, the value of pure gold in the metal is $3,000, which is the least amount you could get if you were to sell it.
Understanding Gold
On the other hand, if you bought the same 18-carat piece on Forty-Seventh Street, you will most likely find a store that sells it for some $4,000, which is around a third above its weight. Triple keystone is the standard outside the jewelry district, and you should be able to buy the same pieces for about $9,000. Clearly, the above doesn’t apply to pieces created by designers like Cartier or Bulgari, where a three-ounce pure gold bracelet can have a price tag as high as $30,000 – its weight 10 times over. But then again, there are rather well-designed pieces by world famous jewelers, so you will be paying a very reasonable premium for the design and the “name.” But if you decided to sell such designer pieces, though you will surely get some premium over weight, it will not be that much more than the weight that a typical gold piece would bring.A Brief History of Gold