13 Jun Buying A Pawn Shop Gold Chain or Other Gold Jewelry
A Little Bit of Gold History
Historically, gold first appeared approximately in 560-700 B.C. This was when the first gold coins appeared in circulation. Lydian merchants used stamped lumps of a silver and gold mixture called ‘electrum.’ Before this time, gold products were used to show wealth “beyond ordinary humans.”
We can find evidence of a silver/gold value ratio in the founder of the first Egyptian dynasty-‘the Code of Menes’, which states the first value-relationship between gold and silver: “One part of gold is equal to two and one-half parts of silver in value.”
In Jason and the Argonauts’ search for the ever-elusive and mystical ‘Golden Fleece.’ This referred to a primitive hydraulic mining method. Early miners would use the natural power of water and sheep fleece to trap the heavy but tiny flakes of gold, and once the fleece hit its holding capacity, it was hung up, dried, and gently beaten to disperse the gold, so it was able to be recovered and used.
Known by the Incas as the ‘Tears of the Sun’ gold was the first widely known metal to early hominids. Pure gold is a soft metal and easily malleable and can be manipulated with your hands. Gold was undoubtedly used ornamentally during its first discovery. Gold’s inability to rust or corrode linked it to the supernatural and early-time deities.
As gold and its value became accepted throughout the world, early manufacturers melted the gold down into stamped coins and bullions that eventually became money, completely dissolving the barter system. Gold coins were easier to carry and manage.
Gold has different purities.
Gold purity is measured in karats. Karats, spelled “carats” outside of North America, are stamped on pieces of gold in the format of “xxK” or “xxKT” indicating the actual gold content of a particular piece of gold.
A karat is a measurement of the ratio of gold to other metals or alloys contained in a particular piece. Karats are measured on a scale from 0 to 24, and the higher the karat number, the more gold there is and less alloy or other metal content. Other metals added to gold are copper, nickel, silver, and palladium.
As stated above, pure gold is malleable. Other metals are added to pure gold to strengthen it and, in some cases, enhance color. Pure gold is bright gold in color and rose gold is gold and copper. making it appear rosey in color.
Knowing what karat or purity of your gold is – this important when you purchase gold and sell it.
24k gold is the purest form of gold. It is 99.9 % gold, followed by 18k gold which is 75 % gold. 14k gold is 58.3% gold, and 10k gold is 41.7% gold. Other purities fall between these.
Coins, bullion, and bars are typically made from 24k, “real gold.” Gold jewelry is made from 18k and 14k because this purity of gold is easy to design but doesn’t scratch or bend like 24k gold or pure gold would. Some jewelry is made from 10k gold as well.
A convenient way to determine what karat your gold is is to look for the stamp on your piece of jewelry. The marking denotes the purity of the gold used in the piece. If you are uncertain, have your gold jewelry tested by a trusted pawn shop or gold dealer.
Gold Plated and Gold Filled Jewelry
Gold plated jewelry is a piece of jewelry that is made from metal, and then a thin liquid gold or plate (gold plate) is added to the top. The layer of gold is very thin. Gold-plated jewelry is less expensive than solid gold or gold of higher purity, like 14k or 10k.
Gold-plated jewelry is plated to enhance the look or wearability of the piece of jewelry. The gold plate is a thin gold layer covering an underlayer. In some cases, it is done to fool the purchaser. These pieces may or may not be marked because you are paying for the metal underneath the plate. Often the underneath layer is brass.
If a mark is found on a gold plated jewelry piece it will be HGE for gold electroplate or RGP for rolled gold plate. Some gold plating is so thick it can pass the nitric acid scratch test. If it doubt has your piece ex rayed.
Gold-filled jewelry has 100x more gold alloy than gold-plated jewelry. The layer is so much thicker, and the layer lasts longer and stands up to regular wear and tear. Gold-filled jewelry is an excellent alternative if you want to buy something that appears to be gold, but don’t have the funds to buy a solid gold piece of jewelry. Because gold-filled jewelry is thick, it won’t tarnish or rub off if it is taken care of. Because of this jewelry type it may be more sensitive so wearing daily may cause some wear marks.
Obviously, the gold-plated jewelry value won’t be worth as much as solid gold if you opt to sell the piece in the future. Some pawn shops will buy gold plated jewelry or gold filled jewerly, but they have to be willing to sell the piece on their resale floor as gold plated jewelry or go through the labor intensive effort of melting down gold filled jewelry to get the gold value from it. Whatever their labor costs are and the current price of gold is, will determine their willingness.
Shopping for Gold Jewelry and Gold Chains At a Pawn Shop
Pawn shops are great places to find all types of affordable pieces of jewerly. Pawn shops will buy and write loans on gold, silver, sterling silver, precious metals, and other luxury items. Pawn shops right loans and sometimes people don’t pay their loans off and their items become property of the pawn shop. These items cover the cost of the loan and are then resold to recoup the money lent. Pawn shops will have high quality gold items at a fair price based on current market value.
Some people have gone through their jewelry box and discovered they have old gold jewelry items they will never use. They bring these to the pawn shop and they plan on selling these items to the pawn shop for easy cash. These items that don’t have a sentimental value to the customer are bought outright after they are tested and a fair price is offered.
Barry’s Pawn and Jewelry
In Boca Raton and Delray Beach, Florida, Barry’s Pawn and Jewelry is a high-end, three generation family pawn shop that specializes in gold jewelry and fine jewelry. Unlike a big box jewelry stores our prices are fair and affordable.
Barry’s Pawn and Jewelry has a diamond, luxury watch, or a gold necklace waiting for you. We pay cash for gold items and offer free appraisals. Our website offers an online store and a fast and easy way to contact us with all your questions. You can always find a good deal at our store and the pawn shop owner is more than willing to work with you to meet your needs.
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