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USEFUL INFORMATION ON GOLD

BRIEF HISTORY & BASIC FACTS:

Gold is the most popular precious metal in the world and because it tends to hold its value, Jewellery in particular is a desirable investment.

Gold in its pure form is very soft and so to strengthen it in order to produce Jewellery and small intricate items, it must be mixed with other metals. The purity of gold is measured in carats, the most common are 9ct, 14ct, 18ct and 22ct. The Carat is worked out by the amount of pure gold to the percentage of its alloys, mainly silver, copper and zinc; this can also create varying colour of gold which differs according to its alloys and caratage. It is thought that the word ‘carat’ derives from the Middle Eastern word for ‘been seeds’ as apparently seeds or Carob beans were used to weigh gold.

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AVAILABILITY OF HIGHER CARAT GOLD:

At times in history when gold was in plentiful supply, the Victorian age for example, it was commonplace to find 24 and 22ct gold Jewellery. Generally today, particularly in the West, 24 and 22ct Jewellery is rare and costly. 14ct is growing in popularity in Britain and becoming more accessible mainly due to a very well-known American born satellite television shopping channel (recognized worldwide) selling large amounts of quality 14ct gold Jewellery;14ct is extremely popular in America. Some antique and early European gold, and occasionally Oriental gold is 10ct or 10k, as is 15ct gold.

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9ct AND 18ct GOLD:

9ct yellow gold is the most widely known internationally and undoubtedly the favourite amongst Jewellery shoppers as well as Jewellery makers in the West. Higher carat gold is preferred and more available in the East and countries such as Saudi Arabia and Hong Kong are renowned for selling high carat gold Jewellery in large quantities. However standard 9ct gold is affordable and yet as alluring as higher carat gold Jewellery. It is economical for goldsmiths because it has a low percentage of gold, and being strong is more controllable to work with thus better for producing detailed pieces such as fine chains. For higher quality gold Jewellery items, perhaps jewelled pieces, 18ct is more favourable and the next most popular, and because it has a higher percentage of gold is more expensive.

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WEIGHING & PRICING GOLD:

All Jewellery made from precious metal including gold Jewellery is normally priced on its total weight. The cost of gold Jewellery is calculated per gram and this varies according to the carat of the gold. The difference in purity will determine whether it works out less or more expensive per gram. This pricing system applies to all gold, and the price of gold per gram differs depending on its caratage. When an item is priced on its weight and purity it is called ’scrap’ value. This term has come about mainly from Jewellery buyers who buy broken, damaged, second-hand or heavily worn gold items thus ‘scrap’ has evolved to describe buying used gold at a flat rate.

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GOLD HALLMARKS AND STAMPS:

Hallmarks on gold should indicate the purity or carat of the gold. Gold stamps or hallmarks used to describe the carat are also calculated by the percentage of gold to the percentage of alloys for example:

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