Friday, May 15, 2009

Cashing in Gold

In the past ten years, the price of gold has tripled in value. When we say gold, however, we should clarify this is the price for pure gold (24 Karat). A lot of fashion jewelry we see is made of gold and other alloys resulting in 10 Karat (41.7% pure gold), 14 Karat (58.5% pure gold), or 18 Karat (75% pure gold). As seen in the Kitco 10 Year Gold graph below, pure gold was priced at under $300 per ounce (31.1 grams) and today gold is at $932 per ounce.

I recommend live market quotes on precious metals here: http://www.kitco.com/market/

There are many televised and radio commercials advertising they buy gold, but I can not see myself mailing an envelope of my valuables. It is true that the price of gold has increased, and if you do not wear your jewelry or it is broken, I recommend you visit your local jewelry store to get a quote.

At Handiwork Jewelry, we have helped clients sort through their jewelry inherited from a grandmother (lover of both costume jewelry and authentic pieces!), as well as transform an heirloom into something a bit more modern. So if you are looking for a place to sell your gold or repair jewelry, please consider Handiwork in Memphis.

2 comments:

ahnn said...

Gold in its pure state is very malleable and it can be damaged easily. The metal alloy makes it more stronger. This is the very reason I'd rather gold with other metals.

sell gold jewelry

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