What do you pay for gold, silver, and platinum?
Preloved Gold takes a number of elements into consideration that help us determine how much to pay for your items. These elements include Current Market Prices; Weight; Purity and any Specific Characteristics of your items.
Current Market Price - Our appraisers at Preloved Gold use the live prices for gold, silver and platinum to determine the value of the precious metals we receive. We monitor and adjust our prices in real time to provide you with the best possible offer.
Weight and purity - The more precious metal contained in your jewellery, the more money we will pay you. However, please note that just because a certain piece of jewellery is heavy, it does not necessarily contain a lot of gold. Our appraisers use ultramodern technology to determine the weight and purity of your items.
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 other elements like Copper, Zinc, Nickel or Silver to make it easier to work with and harder wearing. 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
- 9 carat: 37.5% Pure Gold
The most common silver purities is:
- 999 Fine: 99.9% Pure Silver
- Sterling/925: 92.5% Pure Silver
- 800: 80% Pure Silver
Jewellery is commonly marked with its purity in a form of a Stamp or a Hallmark. Since purity is such an important component to the value, this mark is legally required to ensure the transparency of the purity of the item being purchased. Even though these marks can wear off or in certain cases be fake, it is important for you to be aware that the overall weight of the item is not the only factor 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 precious 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? Is it scrap or broken pieces? 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 steps:
Request an Appointment or an Appraisal Kit – There is no cost for an appraisal and absolutely obligation free. We will assess your item(s) and provide you with an appraisal of each piece. We will then make you an offer. And then how to proceed is up to you.