Lambert Pawn

Tag: Karat Gold

  • How to Know When to Sell your Gold

    How to Know When to Sell your Gold

    Many large and impressive investment portfolios include commodities such as gold. And as with any investment, knowing when to buy and sell is a matter of understanding the ebb and flow of the current market. The good news is, if you are looking to sell your gold jewelry pieces or scrap gold that you own, you most likely do not need to drown yourself in quite so much knowledge. However, knowing when it’s a good time to scrap your gold for cash is in your best interest.

    How to Know When to Sell your Gold 

    How to Know When to Sell your Gold

    An easy way to determine when might be a good market time to part with your unwanted gold jewelry is when the American dollar is strong. The American dollar has been consistently strong in 2016 and is expected to continue to trend upwards. The reason that this is important is likely somewhat obvious: when you trade in your unwanted gold for cash, you are basically trading gold for dollars with the buyer. If you sell your gold when the dollar is strong, the dollars you receive from the trade will go farther than if you sell your gold when the dollar is weak.  

    A big temptation for a lot of sellers is holding onto their gold until the “optimal time”.  Unfortunately, recognizing the optimal time is about as difficult as predicting the future for most anyone, and especially for amateur commodity dealers. The best tip for those of you tempted by this train of thought is to look at what the market trends have been over the last 12 months. If the dollar has been strong and the price of gold has been positive consistently, take the jump and sell. Don’t overthink it or wait too long and miss out on a positive situation.

    If you decide it is the right time for you to sell your unwanted gold, shop around for the best buyer and highest bid. Also, make sure you know the current value of gold by checking a reputable source like www.goldprice.org. We here at Lambert Pawn are one of the leading gold buyers in the Whittier, CA area. Have questions about buying or selling gold? Contact us or stop in and see us with your gold pieces. 

  • How to Tell if your Gold is Real

    How to Tell if your Gold is Real

    In need of quick cash? One of the most common items pawned for quick cash is gold. It can be difficult to distinguish real solid gold pieces from gold plated or fashion jewelry by sight alone, though.

    So what is the best way to determine if your gold is real and can be pawned for money? The hands down best way is to take your gold jewelry to a certified jeweler or licensed pawn shop that buys gold, and have it tested. Keep in mind that anything that tests less than 10 karats is not considered real gold.

    How to test if gold is real

    If you are curious right now about whether or not your gold is real, here are 4 of the most common home tests you can try to test if your gold is real. Beware not all gold tests are fool proof.

    4 Ways to Test if your Gold is Real

    • Take a bite out of it. We’ve all heard you can check if gold is real by biting down on it. If it is real gold, your teeth will leave bite marks.
      • While the above is true, it is important to consider that even gold-plated items will show indents from bite marks.
      • This gold test method is not recommended as it can cause damage to your teeth.
    • Take a peek. Gold pieces often have engravings or markings verifying the karat of the gold.
      • Unfortunately, counterfeiters are smart and can easily engrave a fake piece to make it look as if it’s real gold.
      • Engravings may fade after years of wear and no longer be visible.
    • Discoloration is a major sign of a counterfeit piece. If there are any areas where the color of the gold is wearing off and you can see other metal peeking through, it is gold plated at best. Discoloration typically occurs on the edges of jewelry pieces where there is constant friction.
    • Get a magnet! For this gold test to work, you are going to need a magnet stronger than your typical refrigerator magnet. If the gold piece sticks to the magnet, it is not real. Gold is NOT magnetic.
      • Unfortunately, this is also not a fool-proof gold test as counterfeit gold pieces can be made with non-magnetic metal as well.

    In short, leave the gold testing to the pros. If you want to be certain your gold piece is 100% gold, find a local certified jeweler or stop in our store.

  • The Differences Between 10, 14, 18, 22 and 24 Karat Gold

    The Differences Between 10, 14, 18, 22 and 24 Karat Gold

    It can be quite confusing to purchase items made of gold without fully understanding the differences between karats. Even when speaking to a jeweler or pawnbroker, it’s not always easy to determine what number of karats would be best for your purchase. In fact, if you talk to ten different people, you may well get ten different opinions on what the “best” type of gold is based on the number of karats. So, we’ve created a quick guide to which number of karats is best used for which types of items.

    What are Gold Karats?

    It may be helpful to start with a definition. Karats refer to how much gold is present per 24 parts of alloy. So 24 karat gold is often referred to as pure gold because if you were to examine 24 parts of the metal, all of them would be gold. In contrast, if you looked at 24 parts of a 10 karat gold alloy, only ten of them would be gold and the remaining 14 would be another type of metal.

    Differences between 10, 14, 18, 22 and 24 karat gold

    Differences between 10, 14, 18, 22, & 24 Karat Gold

    • 10 karat gold Because 10 karat gold is very diluted, it can tarnish or blacken when exposed to perspiration or household chemicals. As a result, it is not the best choice for jewelry that is worn every day. It’s also important to note that due to its dilution, 10 karat gold is not considered gold in all countries, which can be an important point if you are looking to resell items.
    • 14 karat gold 14 karat gold is a very popular option for everyday-wear jewelry. It is durable and relatively inexpensive as it is not as pure as other karats. While 14 karat gold is an extremely popular choice, it has its detractors due to its level of purity.
    • 18 karat gold 18 karat gold is the most popular for jewelry. It has a high enough gold content to be considered desirable while having enough other metal to make it durable and stable. As a result, it can hold gemstones in place without prongs bending or loosening, and can be worn as a part of your daily activities. However, as it is still less durable than 14 karat gold, some would advise you that 14 karat gold is a better option.
    • 22 karat gold The most expensive jewelry is often made from 22 karat gold. Because it is 22 parts gold and only 2 parts come from another metal (often silver or copper) it is still quite soft and has to be taken care of very carefully. This may not be the right material for items like wedding rings that are worn regularly. This is also the karat that is used to make gold Krugerrand.
    • 24 karat gold While 24 karat gold may sound the most desirable gold, it is found to be too soft for many types of products. In fact, when handled too often or too roughly, gold particles can even rub off on your hands. As a result, you are most likely to only see 24 karat gold used to make gold bars.

    Ultimately, there’s much debate as to which is the “best” form of gold. People frequently debate which factor is the most important: purity, durability or color quality. In the end, finding the best gold for your project really comes down to what you’d like to do with it, how often the item will be used, and whether it will come in contact with chemicals, perspiration and other potentially damaging elements.

    When all is said and done, rather than trying to choose which gold is universally acknowledged as the “best”, choose the karat that is right for you.