It is stressful if you are unemployed, or suddenly have to buy something that you can’t afford. Did you know that you can sell gold coins or gold jewellery to reliable and trustworthy gold buyers and dealers such as gold buyers Brisbane? They will assess the value of your coins and jewellery and make you an offer.
How are gold coins or gold jewellery valued?
Gold and silver coins sold to a dealer will give you cash. The engraving indicates the country of origin. Often coins hold historic or collectable value, and the monetary value does not always relate to the gold spot price.
There are several methods used to appraise gold jewellery and gold coins. Acid tests, identifying the hallmark, and the streak test are considered inconclusive and primitive. Today, there are several rapid, reputable, non-destructive, and advanced tests to verify the fineness of gold.
Streak and Acid tests
When minerals are scratched across a black jeweller’s plate, they produce a diagnostic-coloured powder known as a streak. Gold’s streak is yellow-gold, silver’s streak is silver, and copper has a copper-red streak. If the item is not pure gold, the streak will not be a yellow-gold colour. Acid test kits contain various acids and touch needles. Touch needles are gold needles of known karatage that can be compared with the unknown gold item. Drops of different acids will react differently to each gold powder.
Gold hallmarks show the concentration or fineness of gold in the metal alloy in parts per thousand (ppt). Research by Tolhurst (1986) found that 50–70% of gold was incorrectly hallmarked. For example, 18k gold has a hallmark of 750, which should contain 75% gold in the alloy. If testing shows less than 75% gold, then the gold has been incorrectly hallmarked, and it does not hold the same value. Incorrect hallmarking has concerned jewellery and gold councils for many years. Trusted gold buyers like Gold buyers Brisbane help determine the value of your jewellery by using accepted methods to identify the karat value and fineness of gold.
Gold’s density is 19.3, and this is a diagnostic characteristic of gold. Gold’s density is much higher than the alloyed metals in gold. Density is a useful diagnostic tool for coins or gold bands.
Electronic gold testers
There are many electronic gold testers on the market. These handheld instruments measure gold ability to hold an electrical charge. The decay rate of the item is noted and compared with a database of known gold karat decay rates.
X-ray fluorescence exposes an element to high-energy radiation, and the atoms from that element give off X-ray’s characteristic of the atomic number. Scientific advances now make it possible to get a quantitative chemical composition of a substance with accuracy.
In times of uncertainty, traditional stock investments can fail or become volatile. Gold jewellery or coins are safe investments and less risky than stocks. If you feel stressed about money, consider selling your inherited gold jewellery.