Gold Education

It is a highly sought-after precious metal having been used as money, as a store of value, in jewelry, in sculpture, and for ornamentation since the beginning of recorded history. Like other precious metals, gold is measured by troy weight and by grams. When it is alloyed with other metals the term karat is used to indicate the amount of gold present, with 24 karats being pure gold and lower ratings proportionally less. The purity of a gold bar can also be expressed as a decimal figure ranging from 0 to 1, known as the millesimal fineness, such as 0.995 being very pure. With gold jewelry, the karat mark or quality mark indicates the purity of the piece: "14K" means 58% pure gold; "18K," 75% pure. In other words, in a piece of 14k gold jewelry, 14 of its 24 parts are pure gold; the other 10 are alloy, which could be any number of different metals, added for strength and sometimes to change the color (to rose gold, white gold, etc.)

Learn more about other precious metals such as silver and platinum before deciding to sell your jewelry for cash.

Gold to Alloy Percentage

Historically gold has been used to back currency; in an economic system known as the gold standard. A certain weight of gold was given the name of a unit of currency (example: in 1934 one troy ounce of 24 karat gold was worth $35.00 (US)). In 1971 President Richard Nixon and the United States Congress voluntarily removed the U.S. dollar from the gold standard system and consequently any/all world currencies linked to the U.S. dollar were also removed.

As a precious metal, gold (in any form) is also considered to be an asset and should be included in any investor’s portfolio in order to provide balance against the ups and downs of other asset classes such as real estate and paper assets (i.e. stocks/bonds). Prior to investing in any asset class you should first educate yourself on the subject matter and seek the advise of a certified financial planner who actively invests themselves.

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