Gold Jewelry Testing Kit - Basic Required Tools

In this article, we'll look at the basic tools needed to test gold jewelry.  These tools form the foundation for telling you not only whether a piece of jewelry is REAL GOLD, but also HOW MUCH gold it contains.

Check out the article on Karat Purity and Gold Content if you're not yet familiar with these terms.

There are many different tools available for testing gold jewelry but no matter what you use, ALL of your tools should be chosen for their ability to help you answer these basic questions:

1. IS this piece of jewelry REAL GOLD (aka, "SOLID GOLD")?
   
2. HOW MUCH GOLD does this piece of jewelry contain (aka, what is the "gold value")?

Tools that don't help you answer the above questions are not needed in a BASIC gold testing kit, and when you're just starting out, there's no sense spending money on tools that'll just take up space and offer distractions.

That being said, here's a list of the jewelry testing tools I personally use and feel that everyone interested in scrap gold and silver should have on hand.
More detailed information on each item is provided below the list.

• 10x Jeweler's Loupe / Magnifier - For reading tiny markings
  
• Digital Scale that will Weigh Accurately to Hundredths of a Gram
  
• Rare Earth Magnet - Very handy for telling you what is NOT GOLD...
  
• Gold Test Stone - A small unglazed ceramic tile, used with Test Acids
  
• Gold Testing Acids - Varying concentrations of Nitric Acid, usually marked 10k, 14k, 18k, 22k

Jeweler's Loupe / Magnifier
The magnification device you use will depend on personal preference and needs.  Some of us have trouble reading the almost microscopic markings found on gold jewelry, others of us are blessed with almost unnatural near-sightedness.  Whatever your situation, the whole point of a magnifier is to answer the question "Is this REAL gold?".  That question is a whole lot easier to answer if you can actually read the markings.  :)


Digital Scale
If your scale isn't accurate, your gold valuations won't be accurate either.  Now, I'm not advocating you blow your entire bankroll on an ultra-fancy contraption, but you definitely don't want to skimp when buying a digital scale.  And as soon as you get one... TAKE THE TIME TO CALIBRATE IT.  Even GOOD scales aren't always ACCURATE scales if they aren't calibrated.

Here are some of the features I look for when choosing a scale for my gold jewelry test kit:

• Capacity of AT LEAST 100 Grams (Higher capacity scales can weigh heavier items such as silver dishes/flatware -- but at the cost of less accuracy.  If you're just weighing gold jewelry, go with improved accuracy.)
• 
  TWO Digit Accuracy Reading (in Grams) - Being able to weigh gold jewelry to the hundredth of a gram will give you a very accurate number when finding the gold value and this extra accuracy doesn't cost much.
• 
  Weight Unit Options - This is a personal preference since any scale that will weigh in grams can be used to determine gold value but depending on your preferences / needs, having a scale that will weigh in other units such as ounces, troy ounces, pennyweight (dwt), and carats can prove highly useful.

Rare Earth Magnet
Magnets stick to Ferrous Metals (aka, Iron); Precious metals like gold and silver are Non-Ferrous -- They do not contain Iron and will not be attracted to a magnet.  Having a small and handy magnet in your gold testing kit is invaluable when sorting through multiple pieces of jewelry as you can very quickly distinguish what is NOT gold.

Beginner Secret: Many beginners assume that if jewelry is NOT MAGNETIC, it must be gold (or silver).  DO NOT FALL VICTIM TO THIS FALSE ASSUMPTION.  Magnets attract Iron, that's the ONLY THING they do.  So the ONLY THING a magnet tells you is whether or not a piece of metal jewelry contains Iron.


If it sticks to a magnet, it IS NOT gold.

If it doesn't stick to a magnet, THIS DOES NOT AUTOMATICALLY mean it's gold.


Gold Test Stone
The "Gold Test Stone" is usually in the form of a small, unglazed tile, around 2" square, although many different materials exist that will work for our purposes.

Gold Testing Acids
Dilute Nitric Acid.  The acid usually comes in small plastic dropper bottles individually labeled with a karat purity (10k, 14k, 18k, 22k are most common).  I would suggest getting the 10k, 14k, and 18k as a minimum.  The 22k acid is quite potent and doesn't get used often so the choice of including it in your gold test kit is up to you.


If you're looking specifically at what's "required" to test gold jewelry, that's it!!  That's all there is too it, and having a magnet is optional but so handy that I've included it as I like keeping one around.

In the coming articles, we'll look at some additional tools you can include in your gold testing kit, including silver and platinum test acids, small file, and a diamond tester, but the list above IS really all you need and more than plenty to get you started testing gold jewelry and determining value with confidence.

As you'll find in later articles, the kit above not only works for gold jewelry but CAN ALSO BE USED to accurately test SILVER jewelry AND confidently spot most platinum. 

HOW?  Knowledge, education, and experience are always the most valuable tools you can have in any tool kit!!

Stay tuned and I'll help you arm yourself with the REAL TOOLS!

Use a Smartphone App to Quickly Calculate the Value of Gold Jewelry

In a previous article, we discussed how to find the value of gold jewelry the "manual" way, and while it's vitally important that you understand HOW to figure out the value of gold jewelry, doing the calculations by hand is tedious and time consuming.  Besides, there are quicker and more convenient ways to automatically figure out how much your gold is worth.

The most successful gold buyers/sellers understand the HOW TO DO IT, before refining and choosing the best WAYS TO DO IT.  If you aren't yet familiar with how to figure out the value of gold jewelry, I strongly recommend reading the previous topics on Karat Purity/Gold Content and How to Figure Out the Value of Gold Jewelry.

Whether or not you understand the fundamentals of HOW to find the value of gold, one of the BEST WAYS I've found to automatically figure out gold value is by using a free smartphone App.

The App I personally use is called "Gold Silver Calculator Free" and is available on the Google Play Store for Android devices.

There are a few reasons I prefer this App over others.

• It will calculate values for both gold and silver, in varying degrees of purity
• You can show a percentage of the current gold (or silver) value, which is extremely useful when buying and selling gold (ex/ Knowing how much you can pay for gold vs. how much a refiner will pay you)
• The percentage value can be hidden from view
• It's very easy to use
• It's free

There are countless other "Gold Value Calculator" type Apps out there for both iPhone and Android markets and I'm not discounting any of them.

The key is to find an App (or program) that works for you.  One that's fast and convenient, and one that provides exactly the information you need when you need it.  Like anything, having the right tools for the job makes a world of difference and making good money buying and selling gold jewelry is no different.

Good luck and have fun!

How to Find the Current Value of Gold Jewelry

One of the most basic and repeated tools you'll use when making money from gold jewelry, is your ability to quickly and accurately figure out the current gold value (also called "scrap value" or "melt value") of an item.  So your success and ability to consistently make money buying and selling gold jewelry is vitally dependent on learning everything you can about calculating gold value.

The nitty gritty details, tips, and dirty little secrets about everything related to gold value will be covered later, for now we just need a solid base of knowledge from which you can build on with time and experience.

Let's get to it...

To Figure out the Current Gold Value of a Piece of Jewelry (SIMPLE):
 
Gold Value = Item Weight * Gold Purity * Current Gold Price

DETAILED VERSION:

In order for the above equation to work, the Item Weight and Current Gold Price MUST represent the SAME WEIGHT UNITS.

Example, if you weigh a piece of jewelry in grams (most jewelry), the Current Gold Price should represent PRICE PER GRAM, not the typical PRICE PER TROY OUNCE that most places quote.

NOTE:  To convert a gold price per ounce to price per gram, divide the per-troy-ounce price by 31.1.  (If Gold is at $1,250.00 per troy ounce, the price per gram would be: $1,250 / 31.1 =~ $40.19 per gram).


Step 1: Weigh the Piece of Gold Jewelry

Digital scales in all ranges of price and quality abound, but since you're dealing with valuable items, it makes sense to spend a little extra money and buy a RELIABLE and ACCURATE digital scale.  You can most likely find a good digital scale for less than $25US, and trust me, the price is well worth it.

When buying a digital scale, look for these minimum requirements:

• Capacity of AT LEAST 100 Grams (Higher capacity scales can weigh heavier items such as silver dishes -- but at the cost of less accuracy.  For gold jewelry, you want accuracy!)
• TWO Digit Accuracy Reading (in Grams) - Being able to weigh gold jewelry to the hundredth of a gram will give you a very accurate number when finding the gold value and this extra accuracy doesn't cost much.
• Weight Unit Options - This is a personal preference since any scale that will weigh in grams can be used to determine gold value but depending on your preferences / needs, having a scale that will weigh in other units such as ounces, troy ounces, pennyweight (dwt), and carats can prove highly useful.

Once you've got an accurate and reliable digital scale (and have calibrated it), weigh the piece of jewelry and write the number down.  For simplicity sake, we'll use GRAMS for the weight measurements and current gold price.

Example: Say we have a 14k gold wedding band that weighs 5 grams.


Step 2: Turn the Karat Purity into a Decimal

Now that we know the weight, we need the decimal equivalent of the karat purity.  In the example above, the wedding band is 14k gold: 14k / 24k = 0.58333.  Most people round off to either 0.583 or 0.58 (The more digits used, the more accurate your results will be but also the more time consuming to remember and calculate).

Step 3: Ensure Weight Units Match and Multiply 3 Numbers

The last number needed is the current gold price.  Since we weighed the wedding ring in grams, the current gold price should also be represented in grams.  (If Gold is at $1,250.00 per troy ounce, the price per gram would be: $1,250 / 31.1 =~ $40.19 per gram).

Now we just plug the numbers into our Gold Value equation...

Current Gold Value = 5 (Grams Ring) * 0.583 (14k Purity) * $40.19 (Gold Price Per Gram) 

Current Gold Value =~ $117.15

You can use this same equation for any piece of gold of any purity --  so long as you are able to determine the purity and current gold price.

The equation and example above returns a value that is 100% of the gold (melt) value.  Due to refining fees, premiums, spreads, and many other variables, this number should be considered a "base value" instead of a "how much cash can I get" value.  Determining the "How much cash can I get" value is a subject we'll cover very soon.

Solid Gold Jewelry - Karat Purity & Gold Content Introduction

With so many different jewelry markings and odd terms being tossed around, at first it may seem daunting to try and figure out the karat purity, gold content, and inherent value... but it doesn't have to be.

Once you understand a few important basics, you'll be well on your way to determining not only if a piece of gold jewelry is real, but equally important tidbits like gold content (purity) and thus, value.

The first term we'll look at is "karat", which is a standard unit used to measure the purity of gold.  It works on a sliding scale up to 24k (pure gold), although you typically won't see jewelry marked less than 10k (older pieces do go lower).  A higher number of karats means the item contains more gold, and lower numbers means less gold.  So if you have a 10k gold pendant that is the identical SIZE of another pendant made of 18k gold, the 10k pendant will not only contain LESS GOLD, it will WEIGH LESS.

In order to find the gold content in a piece of jewelry, you first must know the karat purity.  You can check out the section on Identifying Real Gold Jewelry Markings if you'd like the become familiar with how to spot real gold and tell exactly how much gold is in an item.

Once you know the karat purity of a piece of gold, simply divide that number by 24 and the result equals the percentage of pure gold contained in the item... represented in decimal form.

Example:
Say you have a large men's wedding band, marked "14KT".  14 divided by 24 is 0.58333...  Move the decimal two places to the right and the number is now a percentage.  In this case, the 14 karat gold wedding band is 58.333% PURE GOLD.

The same can be done no matter the karat marking...

• 10k / 24k = 0.41667 = 41.667% PURE GOLD
• 12k / 24k = 0.500 = 50.00% PURE GOLD
• 14k / 24k = 0.58333 = 58.333% PURE GOLD
• 18k / 24k = 0.7500 = 75.00% PURE GOLD
• 22k / 24k = 0.91667 = 91.667% PURE GOLD

So, once you know for sure that the piece in question IS SOLID GOLD, and the PURITY IS KNOWN, the GOLD CONTENT is quickly found per the table above.  Since gold is soft and very malleable, jewelry is rarely made with more than 75% pure gold (18 karat jewelry) but 22k pieces do exist and are out there.  (Keep an eye out for those, they offer one heck of a concentration of wealth in a small package!)

The next step is to figure out the value of the gold in your piece of jewelry.  This is covered in more depth in another section and is the next recommended step to becoming a Gold Jewelry Guru!

Gold Jewelry Secrets - Learn How to Make Serious Cash From Gold Jewelry

Have you ever seen those bags of "junk jewelry" at the thrift stores?  And sometimes the glass showcases are overflowing with individual jewelry pieces.  Or maybe you've walked by a yard sale that had tons of jewelry out for sale.


Ever wondered IF any of that jewelry was REAL?  Ever wondered HOW MUCH of that jewelry IS real and how much it might be WORTH?


I'm here to tell you YES, some of that jewelry IS REAL!  And in many cases the actual amount will not only surprise you, it may leave you staggering, breathless, and speechless.


Thousands of REAL GOLD and SILVER jewelry items are out for sale at ridiculously low prices at any given time, mainly because whoever priced the items has no idea they are worth anything.  You'll find solid gold and sterling silver at thrift stores, antique shops, pawn shops, and (my favorite) estate and garage sales priced at WAY WAY less than the value of the precious metals, not to mention if the item itself has any intrinsic or collector value.


This website was created to teach you how to capitalize on the cheap gold and silver deals in your area while making some serious cash and scoring some amazing finds!


The information contained here starts with the basics, arming you with enough knowledge to start finding real gold and silver and make money right away.  We teach you what to look for, how to tell real gold jewelry from fake/plated gold jewelry, and how to determine precious metal value so you are GUARANTEED to never pay too much.


Once armed with the basics, our advanced area offers gold finding secrets that aren't available anywhere else.  You'll learn the most profitable places to find cheap gold jewelry and find advanced techniques for finding more gold and silver, avoiding more fakes, and flat out making more money.


For as little as $5, you can show your support for this free resource and gain EXCLUSIVE ACCESS to our ELITE Gold Secrets Club.  This is where the juiciest gold jewelry secrets are revealed and illuminated, giving you an instant edge over the competition and providing valuable secrets to help you maximize profits and find even more gold jewelry (including the items your competition leaves behind).
The ELITE Gold Secrets Club also contains an exclusive guide for buying and selling scrap gold jewelry.  This guide covers everything you need to know to start your own scrap gold buying business, including personal reviews of the top refiners so you know exactly where to send your scrap gold in order to GET THE MOST MONEY.

As always, comments, feedback, and suggestions are welcome.  Thank you for visiting.