|About Aurum Exchange | FAQ's | Contact ||
Helping you understand how much your old jewelery is worth
Lately, gold prices are at historic highs. These high market prices have motivated many people to exchange their broken and unwanted jewelry for cash. This page is intended as a resource for our customers to get educated on the price of gold an how that translates into high cash payouts for your exchanged bracelets, necklaces, rings, etc.
Gold market prices are quoted in TROY OUNCES (troz.) and there are 20 PENNYWEIGHTS (dwt.) per troy ounce. Aurum Exchange purchases your jewelry by the pennyweight and we always compensate for the weight of stones and non-precious adornments.
Because of the softness of pure (24 carat) gold, it is usually alloyed with base metals for use in jewelry, altering its hardness and ductility, melting point, color and other properties. Alloys with lower "k", typically 22k, 18k, 14k or 10k, contain higher percentages of copper, silver or other base metals in the alloy. This is important to remeber becasuse it affects the price of the metal in your exchanged jewelry. This chart will help you understand the percentage of gold in different carat weights.
So what's my necklace worth? An illustration...
A typical men's rope chain is worth more than you think! Assuming a weight of 15 dwt., the value of the gold in a 14 k chain can be calculated as follows. (This example assumes a $900/troz gold market price.)
(15 dwt.) x (0.585) x ( $900/troz) x (1 troz / 20 dwt) = $394.88 is the value of the gold in the chain.
Aurum Exchange, like all other gold-purchasing businesses, are unable to offer the full market value for gold. We must account for transactional costs, refinery fees, hedging against fluctuations in gold pricing and of course, a profit margin. In the above example, a customer would typically receive $330 for the gold chain. Aurum Exchange will be glad to assess the value of your unwanted jewelry BEFORE you commit to the exchange.
© 2012 Aurum Exchange - Philadelphia Gold for Cash and Gold Party Facilitators
Site by Philadelphia's Aurum Web Design