The Old Man Knows It – It’s all About Your Assets

Americans aim to know more about the precious metals, jewelry, gemstones, and luxury watches that they own. Rings, necklaces, watches, diamonds, and other gems are some of the most sought-after status symbols from New York to California. Besides a luxurious home and car, jewels can bring their owner pure pleasure, reflect high standing, and in many cases, have emotional significance. When a man asks his girlfriend to marry him, it is almost essential for him to offer her a beautiful diamond ring. At every wedding that takes place, rings made from precious metals are exchanged as a symbol of the couple’s love and commitment. Whether it’s been passed down from a relative, given to you by a lover, or bought just because it’s beautiful. Jewelry is a very important part of our lives.

But from time to time, you may find the need or desire to sell such assets. Though their motives may vary, all prospective sellers have the same very important aspiration: they want to get paid the proper amount. The only way to achieve this goal is to become knowledgeable about what you own and deal solely with reliable and honest buyers who are equipped with professional skills and experience. Be sure to consult with an expert who has the ability to serve you with the professionalism that you expect and deserve. Our “Old Man” imparts his valuable knowledge to individuals who aren’t that familiar with the pieces that they have.

How much is gold worth? | Americans inherit tons of jewelry, coins, accessories, watches, and dental gold every year. Through inheritances, they may obtain wealth that they didn’t expect and might never even have thought about. One of the first questions they ask is always, “How much is gold worth?” The Old Man explains the value of gold and the different ways to assess it.

How much is 18K gold worth?  | Eighteen-karat gold is a very common alloy of gold in the US. It’s used for almost all kinds of jewelry and also for gold medals. From a statistical point of view, every American owns at least one piece of jewelry made of 18K gold.

How much is 14K gold worth? | Fourteen-karat gold can be called the little brother of 18K gold. It’s even a premium gold alloy but not as valuable as 18K gold. Apart from 18K gold, 14K gold is one of the most important gold alloys in the US and Europe. Statistics show that every American owns not only at least one piece of 18K gold but also at least one piece of jewelry made of 14K gold.

How much is silver worth? | Aside from gold, silver is also a very important precious metal. It’s more affordable than gold and therefore is used not only for jewelry but also for larger items. Items like trays, plates, candleholders, cutlery, and pots can be made of silver. Mostly, sterling silver is used to create silver items. Interestingly, a century ago, silver was much more important to own than gold. This article is very interesting for all owners of silver.

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Scrap gold | The term “scrap gold” is extremely common in the gold-buying industry. If someone talks about scrap gold, it doesn’t only mean damaged or broken gold pieces. Scrap gold can also be old-fashioned, mismatched, or unwanted gold that cannot be sold as it is. In almost all cases, scrap gold will be melted down and recycled.

Jewelry appraisal | A jewelry appraisal is a written report about the value of a piece of jewelry issued from a certified appraiser. Normally an appraisal includes a detailed item description, which contains item attributes like material, weight, manufacturer, and condition, as well as gemstone or diamond attributes like shape, cut, clarity, carat weight, color, and proportions.

Gold price per pennyweight | The gold price per pennyweight is a very important factor in the value of gold that has to undergo the melting process. Apart from pennyweights, grams and ounces are also common units for weighing gold.

Value of precious metals | The value of precious metals will be calculated and defined based on the stock exchange. Apart from gold, silver, platinum, and palladium are also traded on several stock exchanges all over the world. The current stock price is the most important factor in assessing the value of items made of precious metals.

Diamond grading | A diamond expert assesses the quality of a diamond, considering the following diamond-grading factors: cut, color, carat weight, clarity, cutting style, shape, transparency, and treatment status.

Jewelry identification | A jewelry-identification process is needed when unknown jewelry is present, especially if the jewelry is antique, vintage, or very valuable. To identify the materials, the brand, or even the provenience is important for dealers, collectors, and owners.

Value of gold | The value of gold is an amount of money in USD or a foreign currency. Depending on the item, the value might be the current stock price or the current stock price plus a premium for a brand, a special condition, a rarity, or craftsmanship.

Gold refinery | A gold refinery is a contractor for processing gold and precious metals. They melt, assay, and test the provided metals for recycling. Normally, a gold refinery also offers its clients other services such as diamond recovery or the sale of granules, sponges, powder, sheets, and plates.

Karat | The term “karat” (“K” or “Kt” for short) is a unit used to measure the purity of gold. The majority of jewelry is hallmarked by showing the karat, but coins and medals can also be hallmarked.

Ring setting | A ring setting is a very important part of a ring where stones like diamonds or gems can be mounted. There are many different types of settings available to choose, depending on the taste of a buyer, current styles, and the gemstones used. Each stylistic era has ring settings that were popular during that time, so for experts, a ring setting can be an indicator of when a ring was produced.

Scrap gold prices | Gold buyers, pawn shops, second hand dealers, jewelers, refineries, and even auction houses use the term “scrap gold price” to indicate the current value of scrap gold. In the US, we use pennyweights, ounces, or sometimes grams to measure the weight of scrap gold. After weight, purity is the next most important factor to consider when assessing scrap gold prices.

Gold price | The gold price is the current price of gold stated in ounces and a currency. The global economy and the demand of leading industries both affect the price trends.

Vintage gold | The term “vintage” is another word to describe things made of gold as old-fashioned or classic. It vastly depends on the individual taste of the viewer if something is either old-fashioned or classic.

Value of gold coins | To determine the value of gold coins, several factors need to be considered. Besides the value of the amount of gold in the coin, the rarity, the shape, and the provenience are important price-building factors.

Pawning | Pawning means obtaining a loan based on a collateral. Pawn-loan -solutions are the oldest form of financing. Even in the Roman Empire, pawn loans were a common way to get access to capital. Nowadays, pawn loans in America are very popular because no credit check is required and a pawn loan never affects one’s credit score, even when a lender fails to redeem the loan.

Is my gold real? | The Old Man shows you ways to find out if your gold is real, some of which can be done easily at home. This is an exciting read for anyone who is interested in a fast and easy authenticity check.

How to use a loupe | A loupe or a magnifying glass is a necessary item for working with jewelry, coins, watches, and gemstones. For those without practice, it can be helpful to read this explanation about how to use a loupe.