What do you pay for gold, silver, and platinum?
Pre-Loved Gold takes a certain number of elements into consideration that help us determine how much to pay for gold, silver and platinum. These elements include and are assessed in the following order:
- Current Market Prices
- Item Specific Characteristics
Current Market Price - Our appraisers at Pre-Loved Gold use the London Bullion Market Association's prices of gold, silver and platinum to determine the value of the precious metals we receive. We monitor and adjust our prices according to updates from the most up-to-date sources daily.
Weight and purity - The more precious metal is contained in your jewellery, the more money we will pay you. However, you should know that just because a certain piece of jewellery is heavy, it does not necessary contains a lot of gold.
Generally, the purity of gold is categorised as carats ("ct" or "K"). For example, an item that is made of 100% pure gold is called 24 carat gold. Due to the fact that gold is a very soft metal, it is often mixed with alloy elements like copper, zinc or silver to make it easier to work with. When this is done, it reduces the purity of the gold below 24 carats and it also makes the items less pure. Platinum is frequently mixed with copper, palladium, rhodium, iridium, and titanium.
The most common gold purities are:
- 24 carat: 99+% Pure Gold
- 22 carat: 91.6% Pure Gold
- 18 carat: 75.0% Pure Gold
- 14 carat: 58.5% Pure Gold
- 10 carat: 41.7% Pure Gold
The most common silver purities is:
- Sterling: 92.5% Pure Silver
The most common platinum purities are:
- 950: 95.0% Pure Platinum
- 900:90.0% Pure Platinum
- 750:75.0% Pure Platinum
Jewellery is commonly marked with its purity in a form of a stamp or a laser engraving. Since purity is such an important component to cash value, this mark is legally required by law to ensure the transparency of the purity of the item being purchased. Even though these marks can wear off or simply be fake, it is important for you to be aware that the overall weight of the item is not taken into consideration. The total weight of the pure metal content is the only thing that represents the basis of the appraisal of your item. This is why we use the XRF spectrometer to determine the precious metal content.
We are always happy to give you a free, no-obligation appraisal to determine the pure metal content of your items.
Item Specific Characteristics - What type of jewellery is the item you want to sell? Is it designer or luxury jewellery? These characteristics also play an important role in determining whether or not your item has additional cash value.
So, what are we paying for gold, silver or platinum? Just follow these three quick steps:
- Request an Appraisal Kit - It's free and there is absolutely no obligation
- Post Your Gold - It's insured and tracked every step of the way
- Receive An Offer – allow us to provide you with the most accurate, competitive offer available to know exactly what your items are worth