An Ultimate Gold Buying Guide

Gold, one of the most desirable metals, is always everyone's first choice when purchasing jewellery. However, gold is also the best way of investment and a fashionable, good-luck token. Therefore, gold jewellery has grown even more desirable thanks to recent design and fashion trends, and its allure is here to stay.

The vast majority of us, when in the market for gold jewellery, prefer to browse multiple stores before making a final purchase. However, it's possible for the best among us sometimes to make blunders in the gold-buying process.

When trying to profit by selling gold jewellery, shopping can be more complicated than typical. Due to this, you need to know how to acquire gold to properly help yourself in hard times. Thus, following these guidelines will ensure a smooth and secure shopping experience.

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What You Should Know Before Buying Gold Jewellery

Gold's price ranges widely based on the ounce, the carat, and the market. Due to the long-term value of jewellery, it is essential to shop carefully to ensure a lifetime of satisfaction. Therefore, you must keep the following points in mind.

The Purity of Gold Jewellery

We all know that gold's carat weight is crucial for any jewellery purchase. Gold is unique among metals in that it is measured in carats. For instance, a 24-carat gold item is composed of pure gold.

Carats are a measure of how pure a piece of gold is. In a nutshell, a more excellent carat rating indicates higher quality gold.

10-carat gold consists of 41.7% pure gold, while the rest is alloys of other metals.
14-carat gold consists of 58.5% pure gold, while the rest is alloys of other metals.
18-carat gold consists of 75 % pure gold, while the rest is alloys of other metals.
24-carat is pure gold with no metal alloys; therefore, it is soft and malleable.

Although 24-carat gold is difficult to come by, it may be your best bet in times of need.

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The Price of Gold Jewellery

In the case of gold, purity is the primary factor that affects market price. The question is, how do you determine the gold's quality? Let's take a look!

Hallmarks

These identifying marks are often tucked away in a less prominent spot. In some instances, the caratage number will be engraved, indicating the gold content, while in others, you may find the purity percentage. Let's take a look at the most popular purity markings below:

Caratage	Percentage of Pure Gold	Carat Mark	Australian Mark
10	41.7%	10ct	417
14	58.5%	14ct	585
18	75%	18ct	750
20	99.99%	24ct	999

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The material marking could clarify issues like "Is it real?" or "What materials are they crafted from"? The most widely recognised quality marks are as follows:

Types of Alloys:

Knowing whether a piece of gold jewellery is gold-filled or plated is another way to evaluate its quality.

1. GF — Gold Filled:

When one metal is "gold-filled," a thin layer of gold is physically linked to it by pressure. Gold filled is superior to gold plated in value and durability because it contains a higher gold content.

2. GP — Gold Plated:

Gold plating is a process in which another metal is dipped in gold to make it appear gold. You can save money with these jewellery selections, but the quality is subpar.

Types of Base Metals:

Pd — Palladium
Pt/Plat — Platinum
SS — Stainless Steel
S.Silver/Silver — Silver Sterling

Calculating the Fair Price:

Get familiar with the cost of gold bullion first. That's the fluctuating daily price at which gold can be bought and sold on the open market.
Jewellers would likely charge more due to the additional cost of other metals used in the alloy and their time spent working on the piece.
You may expect to pay considerably more if you want the jewellery specifically produced. You are not just paying for the gold here but also for the craftsmanship that went into making it.

The Colour of Gold Jewellery

Gold is widely available in different colours by mixing it with other metals; however, the most popular yet pure colour is yellow. Since there are several other colours available, let's look into them.

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Yellow Gold

While pure 24-carat gold has a yellowish hue, its softness, malleability, and high price make it impractical for everyday use. Additionally, not all yellow gold jewellery is genuine gold.

White Gold

White gold resembles a whiter form of silver. It's just as common in engagement rings as in yellow gold. White metals (such as platinum, nickel, or manganese) are used to create white gold, which is much more durable than gold.

Rose Gold

In recent years, engagement rings made of rose gold—a gold alloy with a pinkish hue—have become all the rage. Gold, typically 14 carats or 58.5% purity, is often blushed pink by adding copper.

Crown Gold

Crown Gold, the highest-carat variant of this alloy, contains 75% gold and 25% copper.

Green Gold

Green gold is scarce since it is a combination of gold and silver. Most green gold today comes from labs, which fetches astronomical prices due to its extreme rarity. Electrum, a green gold, comes from the earth's natural resources. Very few jewellers have access to them, so you probably won't see them when shopping for gold.

The Weight of the Gold

The entire weight of a piece of gold jewellery usually determines its price. Valuable stones incorporated into gold jewellery typically increase the weight of the jewellery.

The gold buyer will deduct the same melting value and manufacturing costs when purchasing jewellery with stones, so you may only get 70% of the purchase price when selling the jewellery. For this reason, getting the most basic forms of gold jewellery is wise to maximise your potential return. Luxury Brand Jewellery offers competitive prices for unwanted gold jewellery.

FAQs

1. How do I choose good gold jewellery?

The hallmarks on a piece of jewellery are the easiest way to verify its gold content. A hallmark typically bears a stamp indicating the required minimum gold content.

2. What should I look for when buying gold?

When shopping for gold, purity is of the utmost importance: Gold bars suitable for investing should be at least 99.99% pure.

3. Should I purchase 22 or 24-carat gold?

The best gold to invest in is 24-carat gold. As opposed to 22ct, which is just 91.7% pure gold, 24ct contains 99.9%.