6 Common Gold Jewelry Myths Debunked
Do you have gold jewelry you’re thinking of selling? If you do, it’s important to manage your expectations and know the truth behind some commonly held myths about gold jewelry.
Stewart Kuper Jewelers is here to help. We buy estate and pre-owned gold jewelry, and we take steps to ensure you get the best value for your unwanted pieces. Let’s first dispel some common myths.
Myth #1: All Gold Jewelry Is Created Equal
False. All gold is not created equal. The gold’s purity (karat) and weight will significantly influence its value. Generally, the higher-karat gold will sell for a higher price. For instance, a 24K gold bracelet will have a higher value compared with a 14K bracelet that weighs the same.
To determine its karat purity, look for hallmark stamps on the gold. For example, you might see it’s stamped “14K, “18K,” or “24K.” In some instances, you may see “750” (meaning 75% gold). If the marking is missing or too hard to read, Stewart Kuper Jewelers can test to determine your gold’s purity free of charge.
Myth #2: The Value Won’t Change
While the gold’s karat and weight are significant factors, market conditions also impact how much you can earn when selling your gold jewelry. The truth: what you earn today may not be the same as what you’d make if you sell it next month or even tomorrow.
Due to factors such as inflation, interest rates, geopolitical events, and currency fluctuations, gold prices can fluctuate daily. Generally, the best times to sell gold are in economic downturns, when inflation rates are high, and before interest rates rise.
Understanding market trends can help you decide if now is a good time to sell or if it’s best to wait until market conditions are more favorable. At Stewart Kuper, we use real data and market values to estimate the worth of your gold and will pay up to 90% of today’s spot market value for your gold.
Myth #3: You Can Tell Gold Is Real By Biting It
This method is not only unreliable, but it can also damage your teeth. People may have used this crude method centuries ago, before the advent of modern technology, but this is no longer the case.
Effective ways to determine if gold is real include:
- Finding a stamped hallmark
- Using a strong magnet to perform a magnet test
- Conducting an acid test
- Looking for signs of discoloration, fading, or a greenish residue
If you’re not sure about your gold’s authenticity, take it to a professional jeweler, like Stewart Kuper. We offer free gold evaluations as a part of your personalized, private consultation.
Myth #4: My Jewelry Won’t Sell If It’s Not Pristine
If your jewelry isn’t pristine, no problem. We have the expertise to provide you with an accurate appraisal, despite any blemishes. We even buy broken or damaged pieces.
That said, if your gold jewelry is still in pristine condition, it’s best to keep it that way. You may fetch more money for a well-maintained piece versus one that looks weathered, especially if the buyer plans to resell it as-is versus melt it down.
Myth #5: Gold Comes In Different Colors
When in a jewelry store, you’ve probably noticed the color variations in gold jewelry. So, gold obviously comes in different colors, right? Not exactly.
It is understandable why some people think gold varies in color. However, pure gold in its initial state is slightly reddish-yellow or an orange tint. When alloyed with different elements, the color can change. For example, yellow gold is pure gold mixed with metals like copper, silver, and some zinc, while rose gold gets its reddish tint from a higher copper content.
Myth #6: Selling Gold For The Greatest Value Is Complicated
For some people, selling their gold may seem like a complicated task, especially if they want to ensure they are getting the best value for it. At Stewart Kuper, we simplify the process with honesty and clarity.
Here’s how we make it easy and stress-free:
- Schedule a complimentary gold evaluation appointment.
- During your appointment, we inspect your jewelry and weigh your gold right in front of you.
- On the same day, you receive payment of up to 90% of the spot gold market value.
When it comes to selling your gold with confidence, the team at Stewart Kuper is here to help. Contact us today to schedule your appointment for an honest and accurate appraisal of your gold jewelry
