Understand How Gold Buyers Determine Value Of Gold
Before you consider selling gold jewellery, it’s important to have a good understanding of how gold buyers determine the value of your gold.
This can be the difference between you receiving fair market value for your gold and being underquoted; ultimately losing money which should be in your back pocket.
Our most commonly asked questions are ‘what types of gold jewellery do gold buyers accept’, ‘how do gold buyers determine the value of gold’ and ‘how much do gold buyers pay for your gold’.
We are here to answer any queries, guiding you to a completely stress free and easy gold selling experience.
So without further ado, let’s address our most commonly asked questions before you exchange gold for cash!
What Types Of Metal Jewellery Do Gold Buyers Accept?
When it comes to precious metals, Gold Buyers will buy it all. Whether you want to sell your white gold, yellow gold, silver, platinum…or anything in between.
Gold Buyers accept all types of precious metals. You can sell scrap gold, unwanted gold jewellery to more valuable precious metal pieces that are solid gold. We don’t purchase gold filled, gold plated, gold vermeil as they do not yield high value.
How Do Gold Buyers Determine The Level of Purity Of My Gold?
Determining the purity and amount of your gold is a three step method.
The first part is examining your gold pieces under a 30x jewelers loupe, allowing our team to identify hallmarks and the authenticity of your gold.
The second step is preparing a nitric acid test.
Here, our team will drop acid onto the jewellery and observe for a reaction. When copper comes into contact with nitric acid it may bubble, turn green and give off fumes. The faster this reaction occurs the greater means there is a greater amount of copper. Gold on the other hand will not react.
The third step in determining the value of your gold is weighing the jewellery.
Gold jewellery is weighted in troy ounces; used as the official measurement for gold and silver for centuries.
Our office use a NITON XRAY machine to test the purity of gold.
The reason we continue to weigh gold in troy ounces is it is the universal standard thereby maintaining consistency which is integral for trade worldwide.
By weighing your jewellery we can determine the level of density of the precious metals, which allows us to evaluate the purity. Precious metals have different densities, for example gold is 19.3g/cc, copper is 9.0g/cc and silver is 10.49g/cc.
Using water displacement is essential for jewellery pieces that are uncommon or hard to measure shapes such as necklaces and rings.
For complex shapes including bracelets, and rings, using water displacement where we immerse them in the water then measure the change in volume of water.
How Much Do Gold Buyers Pay For Gold?
Whilst all materials are prone to fluctuation overtime, the value of gold is relatively consistent as it is hedged against inflation. This means its value actually increases as the value of the dollar declines. There is a consistent supply and demand being the most important social commodity in the world.
To accurately determine the value of your gold we must compare against the market value.
Selling Gold With Gold Buyers
Ready to start your gold buying journey with Australia’s most reputable jewellery buyer?
For the best place to sell gold online there is no going past Gold Buyers.
Our gold dealers can assist you through our completely online and completely free service.
To learn about our mail in process head to our website today.
Speak To Gold Buyers Today
For the best place to sell gold jewellery for cash, look no further than gold buyers.
Our Australian Gold Buyers ethos is centered around transparency, safety and honesty.
We are committed to being straightforward about how we have evaluated the value of your gold.
We provide safe and secure delivery options or you can visit us in store.
Finally, we are an honest, family owned and operated business which have no hidden fees when it comes to delivering your jewellery to us for a quote, and receiving the quote.
Receive cash for old gold the easy way; with Gold Buyers Australia.