GOLD - What Pawn Shops & Jewelry Stores DON'T Want You To Know! | REAL WORTH & VALUE

Hello friends and welcome to the RK Merchant Center. My name is Roy and in this video I will teach you all about

gold

, not about the

gold

bars that you find, they have a fine of $9.99 and you already

know

what

they are

worth

or gold coins. Reasons may tell you that just by

know

ing the grade you can look in a book and find out

what

it is

worth

, but I

want

to teach you about gold

jewelry

, gold

jewelry

like this to be exact and why you would

want

to know about gold jewelry like this. Well, do you know how much this gold jewelry is worth?

With a little knowledge. I will be able to give you the tools and knowledge to know how much this gold is worth just by looking at it. Let me give you an example. Say you found it. this ring at a garage sale at a flea market estate sale do you know how much this ring is worth? Let me tell you first that I am not an expert. I don't have a degree in gold, but I know a lot and let me tell you a little about my background so you understand when I was young, my father owned a gold and silver shop, so I grew up learning everything about gold, silver and the coins.

I also learned that many people don't know the

value

of what they have. Why don't they know the

value

of their jewelry? The reason is that most people simply don't know it. I would see someone come to a store with a ring like this and then tell my dad that they paid $4,000 at a retail store. many years ago and they would like to sell it because they need the money, he would take it, look at it, say it says 14 carats, say he tested it and it tests for gold and it has diamonds in it and then take it, weigh it and tell him he would give them 150 dollars for it, that was very disconcerting and disconcerting for them, so why that was the question I want to know and that's why I learned the answer well in this video. will give you several tips and a little knowledge so that you understand how to value your gold jewelry and know exactly how much it is worth, especially if you want to resell it, so grab your favorite drink, maybe a snack, and a pen and paper if you like. take notes and sit back, relax and enjoy this knowledge video that I am about to share with you.

Before I jump in and start talking about gold, I just want to say one more time, welcome to our cave treasure center. My name is Roy. I like videos like this and you might consider subscribing and clicking the media notification bell that way, you know, and videos like this are coming out now. I have been a reseller practically my entire life. I've been to a garage sale to stay in sales. Free market trade fairs. practically anywhere you can discover how to make a profit. I have had my own business and sold at flea markets and trade shows and while traveling I resell a lot.

I retired several years ago and I just couldn't let that reselling mistake go, so I've been selling on eBay for about ten years and I still do it to this day and I still find a lot of gold like this, so this video is quite long and it is important that you do not do it. Don't skip the step of trying to find what you think is relevant. When I teach you everything you need to know about gold, you will understand why it was important to know everything I taught you in this video. I could teach you what gold is what the difference between karat and carat is some simple math to determine the percentage of gold how to use karat to determine the purity of gold different colors of gold and why they look the way they do what the hallmarks mean and numbers on your gold jewelry pieces some quick tests to check if your gold is

real

or not and how much my gold is worth.

So what is gold? Gold itself is a natural element, it is represented by the chemical symbol au and the atomic number 79 on a gold periodic table. It is the most valuable of all precious metals, making this precious material perfect and ideal for jewelry making. Gold is graded by karat CA is 80, meaning 24 karat is the purest form. However, gold can be mixed with other materials such as nickel, zinc and copper. and sometimes it can be rhodium plated, the gold itself is soft; However, by combining alloy materials, the composition is strengthened. The desired effect means that the material or gold will be stronger and last longer and that is very desirable for the viewer or user, so now you have You have your piece of gold jewelry and you need to read the markings on the inside, but not You can see them because they are very small or if you are getting older like me you can't

real

ly see them so we need our glasses but Even with glasses I can't see inside the George to be able to tell what the markings say so what do I use?

Do I use a jeweler's loupe like this? Do I use magnifying glasses like this one or do I use eye clips like this one? Well, it doesn't really matter what you wear, as long as you can read the markings inside a piece of jewelry. I prefer either of these and I use a loop because it folds up or I use a pocket magnifier because it folds up and I can stick them in my pocket and that way I have them when I need them, which brings me to my question what is a carat or what? What is a carat and what exactly do those numbers and letters mean inside a ring or piece. of jewelry, well let me explain to you that k-katie or CT means carats.

When you look inside your piece of jewelry you can see numbers and letters and sometimes you can even see a three digit number, so K or KT means carat and CT which means carat, CT is usually used in countries of Commonwealth or European and many of those European countries will use numbers instead of 10 carats. 12 carats and I will explain it later. The term carat ka ra T refers to the fineness of the gold, such as as I said, 12 carat and 14 carat, the term carat CA r80 usually refers to the weight when referring to gemstones, but sometimes they can also refer to the gold.

I know it's all a little confusing, but it's okay to use both now that we've got carrot and carrot out of the way. What are the numbers that mean a piece of jewelry? Well, the numbers represent the finest parts of gold anyway, parts per thousand, as I said before, carat is the finest and the number represents the parts per thousand. So if you look at eight karat gold, there are 333 parts per thousand or 33.3% pure gold, if you look at 14 karat gold, that's 585 parts per thousand or 58.5% pure and if you look closely at the 24 carats, it is 1000 parts per 1000, it is the purest. gold, which means it's 99.9 percent fine gold, so you're completely confused, but hold on to your seats because I'm about to confuse you a little more, but I promise I'll make it all clear.

Eight and nine carat gold is not considered gold in The United States standards are eight and nine carats, gold is the smallest possible gold that exists and is usually found in the British Commonwealth, in European countries, not We recognize in the United States to sell it in the United States. The gold has to be 10 carat 14. -karat 18 carat and 24 carat 8 and 9 carat is the lowest possible standard and will tarnish very quickly, so you might ask me, Roy, didn't you mention 15 carat, 15 carat or 625 parts per thousand, which is sixty-two point five? The percentage of pure gold is recognized in the United States, however, it is old gold and is no longer manufactured.

It was stopped and discontinued around 1935, so if you find a piece of jewelry marked with 15 karat or 625 gold, that piece will have a little more value than just the value of the gold because it would be discontinued before 1935, so Now you have the antique and gold value and wait, Roy, what about the 22 karat gold? Well, if you find a piece of jewelry, brand 22 karat gold, that came from the Middle East or Asia, it's usually very bright yellow and very soft in other words, your best jewelry to find in the United States is 10 karat, 14 carat, 18 carat, 24 carat and you can easily find the weight and value of all those carrots I mentioned, can you explain a little to me? easier for all of us to understand, well let's go back to that and I'll explain it even easier, okay, if you take your gold jewelry and you look at it and instead of having a stamp like 10 karat, 14 karat, 18... 24 carat carat and notes three digits and those three digits can indicate that it is gold, but they can also indicate that it is silver, a good indication that it is silver, of course, the silver piece is not yellow or gold and it has these numbers , these numbers you want.

To avoid 809 25 or 950, these generally represent silver if you find them in your jewelry, even if it is yellow in color, it is not gold, it is silver, unless you like to buy silver, so Roy, you are telling me that this necklace from here it is stamped 7 5. 0 it is worth more than a necklace marked with 925 yes, that's right, remember that I said that 9 to 5 is equivalent to silver 7 5 0 it is generally found in European countries or countries of the British Commonwealth and 7 5 0 equals seven hundred and fifty parts per thousand or 75 percent purity, which means it is equal to 18 karat gold and how do I know that.

You'll find out here for a second as we start doing some simple math before we get into the simple math part of determining the value of your gold. the hallmarks and numbers you don't want to find on your gold pieces, let's say you look at your gold jewelry and for example it says 10k GP, what does GP mean? Well, many of you probably already know this, but in case you don't know, don't. I don't want to find certain hallmarks in there, I don't want to find ep GP h GP or r GP e P means electroplated GP means gold plated h GP means hard gold plate and r GP means rolled gold plate so if you find them on your piece of jewelry and this is for example 10k GP and what that means is that your piece of jewelry is made of some other metal material and it's just plated, it's not solid, so now would be a good time to say if you need to pause the video for a minute, go ahead and do it, refill your drink and make sure you have a pencil and paper handy and if you want to get a calculator, go ahead and get one, I'll wait while you pause the video, oh. you're back, okay, now let's get into this simple math, first of all, I'll tell you when I start explaining this simple math to you, it may not be that simple, but once you get the hang of it and you've done a couple of problems a few How many times will you realize that this math is almost as simple as two plus two.

Overall, this simple math will be relatively easy, we will break it down into a couple of equations that will be easy to solve. Understand, but first of all you must learn the karat of your gold and find out how to use it to measure the purity of your gold so that you can take the purity of your gold and determine the value and knowing that way you will know. How Much Is Your Gold Worth Before you can determine how much your piece of jewelry is worth, you must first determine what the carrots of this piece of jewelry are and how to use them to measure the purity of your gold, in other words, if you have a ring that came from the British Commonwealth or a European country.

I explained before that it will have three numbers, for example, if this one says seven five zero and I know I already told you that seven five zero equals eighteen carats, but be patient. If this says seven five zero all you have to do is remove the zero and you have 75 or 75 percent gold so you know the purity of this would be 75 percent so I'll give you an equation and you don't have to write this , I'll give you another one, but I just want you to listen to this one and try to follow it. It's going to be a little confusing.

One thing I want you to keep in mind, remember this carat. is equal to one part of 24. Now keep in mind that 24 is 24 karat or pure gold, which has a fine of 999. You can't get anything finer than 999. That being said, imagine this ring and it says 22K, like this that if this says 22 K. It would be 22 K parts of 24 pure gold or 22 24, so if you divide 22 by 24 you get 0.9 1 6. If you move the decimal two places, you get ninety-one point six, which It would be ninety-one point six percent pure. gold, but if you take point nine one six and multiply it by 1000 you would get 916 or 916 out of 1000 of pure gold or now you have your number, let's say it was 625 if you take 625 and multiply it by 1000 and divide it by 24 you would get 15 and which is 1515 carats, wait a minute, it's very confusing or wet when he did it, I lost you, okay, let's do this very slow and very easy because we have to find the carats and measure the carats to find the gold. purity to determine our value of gold now I will give you two equations and I will put them here and I want you to write these equations and they will be very simple and there is something easy for you to understand. remember so the first equation is 14 divided by 24 equals 0.583 or if you move the decimal place more than 58.3% the second equation is 14 divided by 24 times 100 equals 58.3% easy to remember simple equations let me use this example and give you An explanation says that you buy a piece of jewelry that is 14 karat gold and since the most karat it can have is 24, simply divide 14 karat by 24 and you will get 0.583, this means that the purity of the gold is 58.3%, easy to understand, right?

So put those equations aside and put them away. You will need them later before continuing. Let me explain to you that there are different types of gold and I am not referring to the carats, but to different colors. Gold comes in many colors and It depends on the types of alloys or how much alloy was inside that gold, the amount of gold remains the same, for example, you have goldwhite, rose gold, all the carrots remain the same, the purity of the gold does not change because the colors are different. added to gold jewelry it is only used to enhance the desire effect of those who may want to buy it to understand further let me give you a better upgrade, there is rose gold and black heels so what are they?

What's in them? Rose gold is a compound of a mixture of copper and gold that gives it that rose gold color effect. NegroHills Gold, which is famous for the grape cluster leaves on the stems, gets its color from a combination of silver and yellow gold alloy to produce that green hue. Additionally, copper is mixed with yellow gold and that gives it a red or pink color. that kills gold and we have white gold and sometimes we see that white gold is prettier and brighter in some places we will even charge more for white gold and yellow gold white gold is no different it is just the purity of the gold that makes carats but white gold is just a mix of nickel silver and palladium and it's usually rhodium plated so that way it has that nice shiny silver effect that we call white gold, now you're saying, "Okay, Roy, you told us about "yellow gold, white gold." different types of gold has told us about numbers, carats and letters, but what we want to know is the truth: we have this gold jewelry, how much is it worth?

How do we sell it so that our local buyer does not scam us? and I'm going to tell you, but first we have to talk about ounces and grams and I know what you're thinking, Roy, I know what you advertise right, no, we're not going to talk about a regular ounce or a fluid ounce. We are going to talk about troy ounces in ordinary ounce or liquid ounce, it has to do with the weight of the mass of something liquid food, well, we are going to talk about a troy ounce and within the troy ounce there are grams, now a regular ounce It would be 28 grams, but a troy ounce is thirty 1.1 grams.

You might want to write that down. One troy ounce is thirty 1.1 grams. You'll need this knowledge in a minute. Very well, ladies and gentlemen, you sit here. Well, I've already told you everything. about gold and we even have the equation for how to determine the purity of gold just from carrots. Now it's time to tell you how to find out how much this gold ring is really worth and I've given you the tools. To do that, I'm going to give you another equation, so I'm going to need you to grab your pencil, paper and calculators so that way we can determine exactly how much this gold ring is worth and with the tools and knowledge that I have.

I'm about to share, you will know exactly how much your gold ring or gold jewelry is worth and you will be able to know what you would get for it if you sold it now, which is very important. and I want you to keep this in mind if you were to take this ring to a

pawn

shop, they will only give you the value of the weight of the gold, they will not give you the value of the gemstone that is in the middle, whether it is a diamond, a ruby ​​and an emerald or even just glass, will only give you the value of the weight of gold.

I just wrote a quick equation and put it behind the camera, so I'll keep reading as I read. What I would like you to do is write it down and I will put it here so you can see it, so after you go over this equation maybe a couple of times you will understand it and you can write a cheat sheet and you will be able to determine what the value of your jewelry is. gold with this gold ring. Let's determine its value. Now it's a 14 karat gold ring, so what I want you to do is take 14 and divide it by 24, write it down, remember that 24 is pure karat gold, so 14 divided by 24 you'll get point five eight three, which is equal to 58 point three percent.

Next, we will take the spot value. Now you can find the spot value by just looking at the newspaper, the computer, the phone, the news and just find what the real price of gold is currently. For this example, let's say it's $1,700 an ounce, so I want you to take 1,700 and divide it by 31 point one and that will give you the exact amount of one gram of 24 karat gold which is equal to fifty-four dollars and sixty and six cents now I want you to take that amount fifty-four dollars and sixty-six cents and multiply it by 0.583 and that will give you the determination of what a gram of fourteen karat gold is worth, you'll see how we're starting to approach this.

Now, this next part is something I haven't told you about, but it's important and will need some type of analysis. scale a pretty accurate one this is a real jewelry scale and you can use a normal scale but it won't be exact nor a shipping scale again it won't be exact what you're going to want is a scale that measures in grams and if I don't have one, okay, let's go ahead and continue with the equation so that you understand how to use your gold, so just for the purpose of this exercise we will assume that you have a scale, now we will take this ring and put it on a scale and it weighs six point six seven grams, so now I want you to take that number that you got earlier, thirty-one dollars and eighty-seven cents, and multiply it by the weight of the gold that we just weighed, which was six. point six seven your total will be two hundred twelve dollars and fifty-seven cents, that means that if I were to sell this ring at the current spot value of one thousand seven hundred dollars at home, this ring would fetch me two hundred twelve dollars and fifty-seven cents, like this that if I paid $5,000 for this ring five years ago and I needed to sell it now, it's only worth two hundred and twelve dollars and fifty-seven cents and I'm not getting anything for that diamond, which is why I like to go. to garage sales, estate sales, flea marks and trade shows and that's why I like to find my gold so let's go over one more equation and use this ring and this is a 10 karat gold ring so I What I want you to do is take ten and divide it by 24 you will get the point four one six six six six anyway you already understand that there are many decimals, well what we are going to do is circle the decimals, next we are going to look for the value spot this time let's say it's $1,600 so what I want you to do is take 16 y/31.1, that will give you a total of 50 $1.45.

Keep in mind that $51 and 45 cents would be the cost of one gram of 24 carats. pure gold, so now we need to determine the price of this 10 karat gold ring, so take 50 1.45 and multiply it by 0.4 167, which gives you twenty-one dollars and forty-four cents. Now you know the price of a gram of 10 karat gold. at a spot value of sixteen hundred dollars an ounce, so what we're going to do is take that ring and we're going to win it just like we did before, well, we weigh it and it comes out four point three to write that number.

Did you write that number? Okay, now take four point three two and multiply it by twenty-one dollars and forty-four cents and you'll get a total of ninety-two dollars and sixty-two cents if we went to the

pawn

. buy and offer this for sale they would give us ninety-two dollars and sixty-two cents now they could be generous they could look and say there is more than a carat of diamond there and they could be generous and offer us fifty dollars more knowing they could take the diamonds and get them out of this ring and probably make about fifteen hundred or two thousand dollars just from the diamonds.

Now the spot value of an ounce of gold is always going to change, but I went ahead and took the liberty and made a cheat card here is where you can see it and it will never change for ten fourteen 18 or 22 carats, it will always be the same number decimal, so if you want to pause the video and write these numbers, go ahead and that. Either way you will have the numbers available to you, so the other thing I want to tell you is that if you have a piece of jewelry and you can't find a brand and you're pretty sure it's gold, go ahead and take it to your pawn shop or retailer. from local jewelry store and they will test it many times, we will do it for free or they won't charge you much and don't forget to get a good jewelry scale that you usually can. find them at hobby

shops

or retail

stores

and you can definitely find them online like Amazon or Ebay so make sure you buy one, sorry I don't have any for sale that's it, I don't have any more if you like this. video so give me a big thumbs up because it really helps channel and if you like videos like this don't forget to subscribe and also click on that notification bill that way you'll know what more videos like this come out so there Wow, got all the tools and information, now you know how to find out what your jewelry is worth and if you ever go to a retail store or want to go to a pawn shop you know how to outsmart the big boys so thank you all and remember, find it, sell it, make a profit, take care of yourself, everyone have a great day and be blessed.