When it comes to weighing and valuing gold, the average person is often a bit confused in terms of semantics and pricing logic. Most laymen do not understand how gold is valued, what carats mean and why gold weight is so important. If your head is spinning, don’t fret! All of the answers to your gold pricing questions are explained below.
An Explanation of Gold Carats
The best way to think of a gold carat is as a reference to the gold’s purity. Gold buyers covet pure gold that is not mixed with additional metals. Readers are likely wondering why metals would be combined with gold. Such a synthesis occurs to boost the gold’s fortitude and durability. As an example, 10 carat gold is mixed with additional metals to improve its utility while 24 carat gold is gold in its pure form. Gold’s purity is one of the most important factors in determining its value. Another important variable is the physical weight of the gold. If you are interested in buying a solid gold bar, gold bullion or gold jewellery, be sure to check out their stamps. The stamp will tell you important information about the piece of gold such as its carat and overall purity.
Carat Semantics and Stamps
Carats are often referred to with the “K” symbol as well as “ct”. As an example, 8 carat gold is commonly referred to as “8K”, “8ct” and “333”. Don’t be confused by “333” and other number sequences. Such number strings are merely a means of referring to the gold’s purity percentage. A number string of “333” means the piece is 33 percent pure gold. However, it must be noted that 8 carat gold is not universally recognized as it has comparably low quality.
British Commonwealth nations are rife with 9 carat gold. This gold is often referred to as “9K”, “9ct” and “375”. A piece of 9 carat gold has 37.5 percent pure gold. Purchase 9 carat gold and you will have an incredibly strong and durable metal that can be used for jewelry and an array of other purposes. One of the gold market’s most common standards is 10 carat gold. Also referred to as “10K”, “10ct” and “416”, 10 carat gold contains 41.6 percent pure gold. It is desired for its rigidity and ability to remain intact across posterity.
One step up from 10K gold is 14K gold. Also referred to as “14ct” and “585”, this gold contains 58.5 percent purity. 10K gold is used at a high frequency and found throughout the marketplace. It is worth mentioning that Russian 14 carat gold is one-tenth of a percentage point less pure, measuring 58.4 percent purity. Those who own especially old pieces of jewellery might have a piece of 15 carat gold on their hands. Stamps that indicate 15 carat gold are “15K”, “15ct” and “625”. This gold is 62.5 percent pure. Since 15 carat gold production came to an end over 80 years ago, this style of gold typically exists in heirloom pieces.
Jewellery of the highest quality often contains 18 carat gold. Common stamps for such gold include “18K”, “18ct” and “625”. 18 carat gold is 62.5 percent pure. Those familiar with the gold and jewelry industries consider 18 carat pieces to be the standard for elite work. As noted above, 24 carat gold is strongly desired for its 100 percent purity. This perfectly pure gold is quite soft and fragile compared to gold of lesser carats. Common stamps for 24 carat gold are “24K”, “18ct” and “1000”. Since 24 carat gold is 100 percent pure, it is rarely used in the creation of jewellery.
The Importance of Weighing Gold
Gold’s physical weight must be measured in order to determine its true worth. Yet a piece can’t be placed on a scale to determine the weight of its gold components. Gold is a precious metal that has its own unique measurement known as the “troy ounce”. A single troy ounce is the equivalent of 20 pennyweights or 480 grams. If you are interested in selling gold, you will find that dealers use grams and pennyweights as common forms of measurement. It is prudent to determine your gold’s physical weight and carat measurement before attempting to sell it.
Gold Smart is in the Market for Your Gold and Other Precious Metals
Kiwis throughout New Zealand trust Gold Smart for fair pricing, friendly customer service and unparalleled transparency. We buy gold, gold jewellery, platinum, palladium and silver. Reach out to us for a competitive quote and more information about our gold buyers New Zealand business.