How much is your gold worth?

Most of us have a well-kept piece of jewelry, probably a family heirloom or a special gift. If it is made of gold, you must know how much it is worth. You could be wearing it everyday without knowing that it could be worth thousands of dollars! And worst, you could lose it if you are careless enough. But if you know how much it costs, you would be able to keep it well and use it on selected occasions only. This article will help you determine the cost or value of gold, although it may differ from time to time.

Know the amount of gold in your jewelry

Normally, jewelries are marked with numbers that specify the amount of gold in it. Some could be stamped with 750, 417, or 585 gold. However, a lot of people are not aware of these markings and so they take for granted the value of their jewelries. A 585 gold marking, for instance, means that the piece of jewelry has 58.5% gold content while the other parts of it are made of different metals. It is also equal to 14 karat jewelries, which measures 58.5% to 58.3%. Afterwards, check the daily paper or the internet to know the daily rates for gold. You can calculate on your own as it only requires simple math but there are also useful online calculators that can help you efficiently compute the possible amount you can get from that gold.

Be careful when selling your golden jewelries

You need to take caution when dealing with jewelers because they know more about the jewelry than you do. To protect yourself from being tricked by these people, you must arm yourself with knowledge about the right value of your jewelry, especially the amount of gold in it. A 585 gold jewelry may be declared as 583 or some jewelers might tell you that it only contains 10 karats of gold. Even if it has some diamonds and precious stones, they will surely tell you that they are not actually interested with those because they are only after the gold content. If you will encounter people like these in the future, do not deal with them. You will find others who can buy your gold for a better price.

Knowing the value of your property is important. Thus, you can inquire about it with your trusted jeweler or use online gold calculators to find out the cost of gold in the market today.

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