Sell Gold Jewelry to the Best Gold Jewelry Buyer in Las Vegas and Henderson, NV
Gold is a precious metal that is characterized by its lustrous yellow color. It is the densest, most malleable, and ductile of all precious metals. The most known use of gold is currency. History shows that gold was a valuable asset to our ancestors as they use it in trading with each other and with other travelers. Another most popular use of gold is in jewelry. This is evident throughout human history and is prevalent in many cultures. This fascination with the precious metal is very observable even up to this as the market is crowded by a lot of people selling gold jewelry to the best gold jewelry buyers.
Throughout history, gold has been used in decorating homes, tombs, and other structured properties of the rich in the earliest part of the 4th century BC. It has been suggested by historians that the use of gold in jewelry originated in Eastern Europe or Iraq, but many other texts about its origin came up, like the claim of the first recorded data of the use of gold that was five millennia ago in Egypt. But one it was very clear back then that trades between kingdoms and old countries included gold exchange.
During the Georgian and Victorian eras, gold was worn with silk and velvet designed for royalties. Wearing gold jewelry, set with rubies, diamonds, sapphires, and other precious stones, identifies power and authority. Gold in history is exclusive to the upper class of society. Only those who can afford to show off their wealth have the power to show off their gold. For this reason, different elegant designs of jewelry and accessories were made to prove the exclusivity of gold to rich families.
Gold as an Investment
Gold is one of the world’s most valuable metals and commodities. The use of gold as currency is seen throughout human history. Gold can be sold for cash in almost every country worldwide. Gold jewelry in its many forms has a certain amount of gold in it. That’s why a lot of people invest in gold jewelry because it can be resold at a higher price depending on its condition, purity, and weight.
Moreover, many consumers see gold jewelry as a sound investment and as an asset. Though its price may be unpredictable and would seem stagnant in the market, the value interestingly has managed to increase unlike coins, paper currencies, and other assets, and this opened the demand for gold to the middle class.
While many industries today take a sliding route to bankruptcy and closure due to the COVID-19 pandemic, the gold industry is predicted to be a continuously thriving business. WGC also predicts that “increased market uncertainty and the expansion of protectionist economic policies will make gold increasingly attractive as a hedge.” Consumers are now more than willing to buy and sell gold jewelry for future profit. They now look for dependable companies like Nevada Coin Mart that can help them sell and buy gold with peace of mind, knowing that market assessment is done fairly.
Best Place to Sell Gold Jewelry
Nevada Coin Mart is the best place to sell gold jewelry as it offers a free in-store evaluation for your piece using a state-of-the-art Thermo Scientific Niton X-Ray Spectrometer in order to accurately analyze and measure precious metal contents in your piece. This will ensure that you get top-dollar for your items. We are open 365 times a year from 9 am to 6 pm, so come visit us at Nevada Coin Mart® 4065 S. Jones Blvd Las Vegas, NV 89103 or call us up at 702-998-4000.
Types of Gold Jewelry
As gold is a very versatile and malleable metal, it can be formed to almost any shape or form. This quality is likewise one of the things that makes gold an excellent metal for making all sorts of jewelry items. Below are what buyers of gold jewelry in Las Vegas usually buy:
- Gold Necklace
- Gold Earrings
- Gold Rings
- Gold Engagement Ring
- Gold Wedding Rings/Wedding Bands
- Gold Bracelets
- Gold Pendants
- Gold Chains
The gold jewelry market also has three kinds of gold: yellow gold, white gold, and rose gold. While yellow gold is the purest form of gold, white gold and rose gold are still very valuable and you can still sell your gold jewelry for cash.
Purity of Gold
While gold’s weight is measured in troy ounces (1 troy ounce = 31.1034768 grams), gold purity is measured in karats, which are the ratio of gold to other metals and are represented by a number from 8 to 24. The higher the karatage is, the purer the gold, as such a 24-karat (24K) jewelry piece is considered pure gold. At the same time, lower karat pieces have a lower gold content, thus lesser value.
In addition, when buying or selling your gold jewelry it is important to remember that the higher the Karat (k), the more money you will be walking away with! Here’s a quick guide to gold purity.
- 8k (8kt, 333, 8/24) = 33.3% of gold purity
- 9k (9kt, 375, 9/24) = 33.7% of gold purity
- 10k (10kt, 417, 10/24) = 41.7% of gold purity
- 12k (12kt, 500, 12/24) = 50.0% of gold purity
- 14k (14kt, 585, 14/24) = 58.5% of gold purity
- 18k (18kt, 750, 18/24) = 75.0% of gold purity
- 22k (22kt, 916,917, 22/24) = 91.7% of gold purity
- 24k (24kt, 999, 24/24) = 99.9% of gold purity
Value of Gold
The price of gold changes daily and it is based on the spot price of gold. What is the spot price you ask? The spot price is the selling price of gold on that day. And the price of gold is volatile and it is a high-risk investment that can yield high returns or loss. Most people who invest in gold and its many forms monitor the spot price daily. Some days it is high and some days it’s not. To learn more about the spot price of gold as you sell your gold jewelry, click here: https://www.kitco.com/charts/livegold.html
Generally, gold jewelry buyers usually follow a formula in determining the value of your jewelry. The formula is the gold price (current spot price) multiplied by the weight in grams then multiplied by the purity rate per grams. Here is also the purity rate chart for your reference:
- 10K = 0.013397642
- 14K = 0.018756699
- 18K = 0.024115756
- 21K = 0.028135048
- 22K = 0.029474812