In 2021, the gold industry market was valued at $214.1 billion. Gold is often prized for its ability to maintain and even increase its value over time.
Many see gold as a powerful tool to use for long-term investing and selling. But did you know there are many factors that can impact gold purity and gold value overall? From its karatage to its purity and color, gold value can fluctuate greatly based on these areas.
In this guide, we’ll provide you with everything you need to know about the importance of gold purity in determining gold value. Keep reading to discover more about gold value and the characteristics of gold karatage.
Determining Gold Value
When determining gold value, you must take into account the number of karats of pure gold comprising it.
Gold karats are assigned to gold items based on the total parts of pure gold out of 24 total. The rest of the gold is then made from a mixture of metal alloys, which helps to strengthen the gold.
The most common types of gold karat types you’ll see are 10k gold, 14k gold, 18k gold, and 24k gold.
10k Gold
10k gold is 10 parts pure gold out of the total 24. 10k gold is often used in inexpensive costume jewelry because of its low gold value. This way you can still have something with the look of fancy gold at a much lower cost.
Anything made from 10k gold has a 37.5% pure gold content with the remaining 62.5% made from metal alloys such as nickel, zinc, or copper. Since 10k gold is a lower gold purity, it is much sturdier.
14k Gold
14k gold combines the beauty of pure gold with the sturdiness of metal alloys. It has a higher gold purity of 58.3% with 41.7% containing metal alloys.
14k gold is a popular choice for a wide variety of gold items from bracelets to earrings, necklaces, and rings. It is a little more expensive than 10k gold but this is because it contains more gold.
It falls into a median price range and has a moderate gold value if it’s re-sold.
18k Gold
18k gold contains 18 parts pure gold to 24 total parts. It has a gold value of 75% pure gold to only 25% metal alloys.
18k gold is worth more than 14k gold due to its high gold content. However, it also costs more. Purer gold also scratches easier and is not as durable since it contains fewer alloys for strengthening it.
18k gold also has a brighter golden sheen compared to 14k gold, but it is more hypoallergenic.
24k Gold
24k gold is the purest form of gold because it contains 99.9% pure gold. 24k gold has the absolute highest gold value as well. It has the brightest golden sheen.
The downside of 24k gold, however, is in its extreme softness which is prone to scratching and wearing down due to not having any alloy compositions. 24k gold is not suitable for gold jewelry pieces that are exposed to everyday wear. It is also extremely expensive.
What Is Colored Gold?
In addition to the different types of gold karat counts, there are also different colors of gold that can affect its appearance and gold value.
Different colors of gold can be achieved by mixing certain alloy combinations together. The color depends on the types of alloys that are used.
While gold can actually come in a variety of colors from green to purple, the most common gold colors are yellow gold, rose gold, and white gold.
Yellow Gold
The most common forms of yellow gold are 10k gold, 14k gold, and 18k gold because of their durability. Yellow gold has a classic and timeless appearance for jewelry items such as necklaces and engagement and wedding rings.
Yellow gold is the most recognizable color of gold due to its golden sheen. The brightness of the golden color will vary based on the karat count with the higher pure gold variations having the purest yellow coloring and gold value.
Rose Gold
Rose gold is created by mixing pure gold with copper and silver alloys to create a gold metal with rosy pink to brass tones. The gold value of rose gold is much less than that of yellow gold because it is mixed with alloys for strength.
Rose gold also falls under the same karat grading as yellow gold with higher counts achieving a rosier tone. Rose gold has a vintage appeal to it due to its brassy tones.
White Gold
White gold is made by mixing pure gold with other white metal alloys together. This can include zinc, silver, nickel, and palladium. The karat grade of white gold items varies based on the ratios of pure gold and alloys used.
Despite the name, white gold appears to be more silver-toned or grey in appearance. White gold gives its items a silvery look that is modern, which is perfect for contemporary wedding ring designs.
Understanding the Importance of Gold Purity
When calculating gold value, you need to understand a few things first. The higher number of karats your pieces contain will increase their worth. The more pure gold your items have, the greater their value will be.
It also stands to reason that the smaller the percentage of alloys contained within your gold pieces, the higher their true gold value will also be. When it comes to gold purity, higher purity equals higher gold value overall.
Sell Your Gold Jewelry at Sell Gold Austin Today
Now you understand all of the variables that go into making your gold pieces and how it affects their gold value.
If you have old gold jewelry lying around and you’re looking to sell it for cash, you’ll want to get your full gold value. Sell Gold Austin in Austin, TX can help you.
We can evaluate your gold items and give you the highest value. We buy diamonds too for extra cash. We’ll even take broken and scrap jewelry.
Contact Us today for more information about selling your gold jewelry.
