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Glitters: Gold Basics

It is essential that you know about the basics of gold, especially if you possess gold jewelleries and valuables. Here are the fundamental nitty-gritties about gold that you ought to know:

  1. Know your gold’s worth. Have your gold jewelleries appraised at a trusted Jewellery shop to know their true value. For your reference, here is a table of Karats and their corresponding gold compositions:
     
    1. 22kt = 91.66% gold
    2. 20kt = 83.33% gold
    3. 18kt = 75% gold
    4. 14kt = 58.33% gold
    5. 10kt = 41.66% gold  
  2. Gold is available in different colours. Yellow gold is the most renowned, followed by white gold and rose gold. The difference in colour is due to the metals used in their alloy mix:
     
    1. Yellow gold – is made by mixing pure gold with alloy metals such as copper and zinc.
    2. White gold – is an alloy of gold and silver or palladium.
    3. Rose gold – is made by mixing pure gold with alloys including copper.  
  3. Never sell your gold valuables for their scrap value. Selling them for their scrap value will cost you to lose at most 75% of its retail value. Selling your jewellery in its scrap price is based solely on the metal composition alone, totally ignoring your item’s craftsmanship and the aesthetic, antique value of your jewellery.