#1 24K Gold Jewelry Buyer Las Vegas & Henderson
A karat is a measurement of the fineness of a piece of gold. The fineness of a piece represents the weight of fine metal that it contains in proportion to the total weight, including alloyed metals and any impurities. Diamonds and other gemstones are measured in carats per 200mg, meaning for every 200mg of diamond, the higher the carat. One carat equals 200 milligrams (0.200 grams). There are 453 grams in a pound (1,000 grams to a kilogram). Therefore, if your gold bar weighs 170 pounds, you have a 385,050-carat gold!
Gold uses karats. With gold, a karat is a fractional measure of purity for gold alloys, measured per 24 parts whole. Each karat indicates 1/24th of the whole. So if a piece of jewelry is made of metal that is 18 parts gold and 6 parts copper, that is 18-karat gold. Pure gold that has not been mixed with any other metals is therefore the highest possible karat, 24 karat (24k) gold.
Comparison of Different Gold Karats
- 9K (37.5% gold and 62.5% alloyed metals) – Contains a high percentage of other metals, making it stronger and cheaper to buy.
- 14K (58% gold and 42% alloyed metals) – This alloy offers more resistance to wear and tear than either 18K or 22K. More affordable than 18ct gold, due to its lower gold content.
- 18K (75% gold and 25% alloyed metals) – This is the most traditional mix of gold and other metals. Contains metal alloys for strength and color. White metals added to create white gold. Copper added to create rose gold. 18ct yellow gold is brighter in tone than 14ct and 9ct gold. Because of the higher gold content in 18K pieces, it will also yield a higher price than 14K, and is usually a sign of a higher quality piece of jewelry.
- 22K (92% gold and 8% alloyed metals) – Even a modest mixture of only 8% alloyed metal makes 22 karat gold a touch stronger and more durable than pure gold. Nevertheless, care will need to be taken with this blend as it’s still the softest form of mixed metal jewelry. They are very soft, so not ideal for stone set jewellery. Used for plain gold jewellery, such as wedding bands.
- 24K (100% pure gold) – Naturally yellow and highly valuable, but very soft. Being the highest karat of gold, it’s easy to assume that 24K is the “best” gold to buy, but that isn’t necessarily the case. Pure gold can be easily scratched and bent, so it’s impractical for daily wear. Not usually used to make fine jewellery.
How to Calculate Karat of Gold
Karat in gold is expressed in fineness. For e.g. 24 k gold is expressed as 1000 parts out of 1000 pure or fineness 1.000. 22k is expressed as 22 divided by 24, multiplied by 1000 which will give you a fineness of 0.9166, 21 karat is 21 divided by 24 multiplied by 1000 which is 0.875 fineness and similarly 18 karat is 0.750 fineness.
What is 24K Gold
A 24 karat gold is 100 per cent pure gold and does not have any other metal mixed. In the local market, it is known as 99.9 per cent pure and has a distinct bright yellow color. 24k gold is not 100% pure. Commercially available 24k gold is, in fact, 99.95% pure only, due to the lack of attainability of 100% purity. Gold has been refined further, but the practice is not commercially viable, and so we consider gold of 99.95% purity, or higher, as pure. The 24 karat gold is more expensive than 22 or 18 Karat gold. It is soft and malleable and that’s why not used in making regular forms of jewellery. The 24K gold is used to make coins, bars and is also used in electronics and medical devices.
24K Gold Jewelry
Gold, for all its beauty and high-value, has one inherent weakness, in that it is a very soft metal. This exposes the gold to a high rate of wear and tear. So soft is 24k gold, in fact, that a gold band can easily be bent out of shape with just bare hands. We used to see a lot of 24k gold wedding bands, but the rate of them requiring repair was extremely high. As well as often having deep scratches, many of the bands wore thin on the bottom due to constant contact with harder materials just in everyday use. Eventually, the band breaks and requires attention.
Whilst more valuable, pure gold is rarely used for jewelry pieces because of its softness and malleability, and tendency to scratch and mark. Therefore, it is usually alloyed with base metals for use in jewelry, altering its malleability, color and other properties.
The best type of gold jewelries that can be worn everyday are jewelries that have 14-18k karat. Jewelries that 24k golf isn’t suitable to use or to be used as a jewelry compared to 14-18k gold jewelries.
Gold Bullion Bar
It is a bar or ingot of gold of various sizes; bullion word originates from Louis XIII, Claude de Bullion, a French Minister of Finance. It’s worth relying on its purity /immaculateness and mass. Pure bullion 24k gold is called parted bullion that is officially 99.5% pure, while impure, sullied gold is called unparted bullion.
Coins were famous even in ancient times; they were using it for currency; still, gold coins are using in some countries as currency. Gold coins today are special coins, made of gold, available in a verity of sizes, different shapes mostly rounded, and a different type in different countries. For example, the officially recognized coins are the Canadian Maple Leaf, American Eagle, and the United States Mint, etc. These coins are also 99.5% pure.
Advantages and Disadvantages of 24K Gold
Here are the advantages of 24K Gold:
- 24K gold has a bright, eye-catching orange-yellow appearance. This is because 24K gold doesn’t contain any additional metals.
- 24K gold is 99.99% pure, meaning it contains no alloyed metals. There is no higher level of gold purity than 24K. In comparison, 18K gold is made up of 75% pure gold, while 14K and 10K gold contain 58.3% and 41.7% pure gold, respectively. The extremely high purity level of 24K gold gives it different characteristics from the 14 and 18K gold that’s commonly used in jewelry.
- Despite the softness of pure gold, it is actually quite easy to clean. Warm water and a mild soap are all you need.
- The 24 karat gold is more expensive than 22 or 18K gold.
- 24K gold is a good investment for its cost. It can be used to sell if ever needed.
- it is widely used to make gold bars, coins, electronic device, and medical equipments.
Here are the disadvantages of 24K Gold:
- First, it’s extremely soft. Because pure gold is so soft, it bends and warps easily, making it a poor metal for jewelry that needs to retain its shape. Pure gold also scratches easily, meaning it doesn’t take long for pure gold jewelry to become scuffed and unattractive.
- Second, it’s very bright. The color of pure gold is much brighter and more orange than what most people associate with the gold used in jewelry. Because of this, it generally isn’t an attractive metal for rings, watches and other gold jewelry.
- Third, it’s extremely expensive. Pure gold contains almost twice as much gold as 14k gold (the most popular type of gold used for jewelry in the US), meaning it costs much more to produce jewelry using this metal.
How We Evaluate the Value of 24K Gold
- Gold Purity – The purity of gold is measured by its carats or karats. We’ll have to know what is the karat of the gold.
- Hallmarks – This is a system that determines and guarantees the gold’s purity. These marks establish the origin and fineness of the precious metal and ensures it has been accurately and independently tested. In Hallmarking the metal and fineness mark for 18 carat is 750. The mark for 14 carat gold is 585. The mark for 9 carat is 375.
- The Gram Weight – The amount of grams in a gold is the measure of the gold content in the item. Knowing the gram weight of a gold will allow you to compare the amount of gold with other karats. After that, we’ll have to weigh the gold by its carats. A 14K gold will weigh more than a 10K gold of the same size because 14k has more gold content than 10K. Likewise, an 18K gold will weigh more than a 14K gold.
- Obtain the Market Price of Gold in Ounces – First is to check the market price of gold in ounces. If pure gold is selling for $1300 per ounce in the metal markets, then one gram is going for $41.80 ($1300/31.1g).
Price Quote for 24K Gold
These are the different estimated prices we pay for gold per weight:
- Gold’s price per gram can cost up to $60.
- Gold’s price per ounce can cost up to $1,740.
- Gold’s price per kilo can cost up to $55,800.
These are the different prices we pay for gold per karat:
- 6K Gold can cost up to $14
- 8K Gold can cost up to $19
- 9K Gold can cost up to $21
- 10K Gold can cost up to $24
- 12K Gold can cost up to $28
- 14K Gold can cost up to $33
- 16K Gold can cost up to $38
- 18K Gold can cost up to $48
- 21K Gold can cost up to $49
- 22K Gold can cost up to $52
- 23K Gold can cost up to $54
- 24K Gold can cost up to $56
Prices are figured using troy oz scale and not standard oz. A troy ounce is 31.1034768 grams not the usual 28.3495 grams. If pure gold or 24K gold is selling for $1300 per ounce in the metal markets, then one gram is going for $41.80 ($1300/31.1g).
If you have 24K gold and you would like to sell it, don’t hesitate to inquire and set an appointment with us. We are ready to buy your 24K gold. But if you are in search for 24K gold to buy, contact us and we’re ready to sell it to you! Message us now!