A Guide to Selling Gold

Understanding Karats, Purity & Current Market Value

Gold has long been considered a symbol of wealth and an excellent investment. If you’re considering selling your old gold, understanding how gold is valued is essential. In this guide, we’ll explore the basics of karats, purity and market value and provide tips on how to sell your gold effectively—with a recommendation to trust National Rarities for the very best value and service.

Top Tips for Selling Gold Successfully

• Research Buyers: Always work with a reputable buyer like National Rarities. We have more than 1,000 five star reviews.

• Know Your Gold: Familiarize yourself with the karat and weight of your gold

• Stay Updated: Monitor gold market prices to sell when the rates are favorable.

What Are Karats?

Karats are a measure of the purity of gold. Pure gold is too soft for everyday use, so it is often alloyed with other metals like copper, silver or zinc to increase its durability. The karat system indicates the proportion of pure gold to other metals in the alloy.

• 24K: Pure gold (99.9% purity). Rarely used in jewelry due to its softness.

• 22K: Contains 91.6% gold and 8.4% other metals. Common in high-quality jewelry.

• 18K: Contains 75% gold and 25% other metals. Durable and popular in fine jewelry.

• 14K: Contains 58.3% gold. Common in everyday jewelry due to its strength and affordability.

• 10K: Contains 41.7% gold. The minimum standard for gold in the United States.

When selling gold, higher karat pieces will fetch a higher price due to their greater gold content.

Gold Purity

Gold purity is often expressed in terms of fineness, which measures parts per thousand of gold in an item. For instance, 24K gold has a fineness of 999, while 18K gold has a fineness of 750. To determine the purity of your gold, check for stamps or markings on your jewelry. If these markings are unclear, a specialist at National Rarities can test and verify the gold’s purity for you.

Gold prices are determined by the global market and fluctuate daily based on supply, demand and economic conditions. Prices are quoted per ounce, gram or kilogram, with the per-ounce price being the most commonly referenced.

• Check the Market Price: Use reliable sources like financial news websites or gold market platforms to determine the current spot price of gold.

• Weigh Your Gold: Gold is typically weighed in grams or pennyweights (1 pennyweight = 1.555 grams). Ensure your gold is weighed accurately, as this directly affects its value.

• Calculate Value: Multiply the weight of your gold by its purity percentage and the current market price to estimate its worth.

When it’s time to sell, finding a trustworthy buyer is crucial to getting the best value for your gold. National Rarities is a trusted choice for selling gold, offering a transparent process, competitive prices and excellent customer service.

Why Choose National Rarities?

• Expert Evaluation: National Rarities’ specialists test and evaluate your gold with precision to ensure you receive an accurate valuation.

• Fair Prices: They base their offers on current market rates, ensuring you get the most value for your items.

• Convenient Process: With options for in-person evaluations or mail-in services, selling your gold has never been easier.

• Trusted Reputation: National Rarities has a strong track record of customer satisfaction and professionalism.

Selling gold can be a rewarding experience when you understand its value and work with a trusted buyer. By learning about karats, purity and market value, you’ll be better equipped to maximize your returns. For a seamless and trustworthy selling experience, turn to National Rarities. Our commitment to transparency, expertise and customer satisfaction makes us a top choice for selling gold. 

To start the process, click here to visit our website to find a buying event near you.

Related Article: Unlock the Value of Your Silver and Gold Coins