What do you pay for gold, silver, and platinum?
Pre-Loved Gold uses a number of factors to determine how much we pay for gold, silver and platinum. The factors include and are assessed in the following order:
- Current Market Prices
- Item Specific Characteristics
Current Market Price - Pre-Loved Gold uses the London Bullion Market Association's prices of gold, silver and platinum to calculate the cash value of the precious metals we receive. We monitor and adjust our prices according updates from the most up-to-date sources daily.
Weight and purity - The more precious metal contained in your jewellery, the more cash value it has. The more precious metal is contained within your item the more money we will pay you. However, be careful, just because a necklace is heavy does not mean it contains a lot of gold.
In most of the world, the purity of gold is categorised as carats ("ct" or "K"). An item's made of 100% pure gold is called 24 carat gold. However, gold is a very soft metal and is frequently mixed with alloy elements, like copper, zinc and silver, to make it easier to work with and change its colour. When this is done, it reduces the purity of the gold below 24 carats. However, it also makes the items less pure.
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
It is common for jewellery to be "marked" with its purity with a stamp or a laser engraving. Since purity is such a big component to cash value, this mark is legally required by law to ensure the transparency of the purity of the item being purchased. Sometimes these marks can wear off or be fake. It is important for you to be aware that the overall weight of the item is not taken into consideration. It is the total weight of the pure metal content only that forms the basis of the appraisal of your item. This is why we use state of the art 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? Is it designer jewellery? These characteristics can play an important role in determining whether or not your item had additional cash value.
So, what are we paying for gold, silver and platinum? Just follow these three easy 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