How is the price of gold assessed?

The price of gold is often difficult to comprehend, but that didn’t stop us from taking a close look. According to reports, this price has been soaring in recent years and reached a record high in 2012. Nevertheless, estimating its value is an essential step before selling. Find out gold’s indicative value with this gold buying advice.

The evaluation of gold: overview

Gold that is normally intended for sale must be analysed to obtain its indicative value. Firstly, this evaluation is purely quantitative as the metal will be weighed to determine the importance of its alloy when sold. Then comes the qulatitative evaluation. Indeed, the gold in uqestion will be tested with different acids to evaluate its purity. That’s why the evaluation must be done by an expert. At the same time, you can ask for recommendations on buying gold. These experts are obliged to explain to you all the methods used to value the precious metal. If you would like to have a free, non-binding expert opinion, it is best to contact an expert.

Assessing the purity of gold

According to the terms of the gold repurchase agency, the evaluation of your gold objects must first of all go through the analysis of its purity. This is measured in carats. Thus, if it is a piece of jewellery, it may be around 18 to 22 carats. Above 24 carats, gold is not supposed to be used in jewellery. Furthermore, a piece of jewellery normally contains 75% gold, which can be very expensive to conclude. Otherwise, to find out its purity, you can use a magnifying glass to determine the hallmark of the jewel. Thus, if you have a hallmark in the shape of an eagle, the purity of the jewel is around 19 to 22 carats. On the other hand, a shell-shaped hallmark indicates 14 carat gold. A clover shape indicates 9 carat metal.

Other criteria to take into account

The evaluation of your gold continues with the assessment of its weight in grams. For a piece of jewellery, gold must be separated from the other ornaments. In the first instance, it is possible to weigh it on a food scale. Alternatively, you can use the weighing machines at the post office. But for a more reliable value, nothing beats the scales of a dealer who has all the right tools. This way, you can determine the overall price by dividing the official value by 1000.