GOT GOLD QUESTIONS? WE’VE GOT ANSWERS!

Gold is a fast, easy way to get a substantial amount of cash. A great thing about gold is it's ability to hold value. Even broken or damaged gold is worth money. Gold is paid by the weight, in grams. When selling gold, of any kind, it is important to find a reputable buyer that carries proper licensing and certification of testing equipment. Our scales are calibrated, approved, and certified by the Arizona Dept. Of Weights and Measures and our buyers carry a license with the city of Phoenix as well. This means that when receiving a quote from us, you can be assured that it's an honest one.

Some pawn or gold shops will attempt to pay their customer in penny weights, instead of grams. This minuses weight from your gold and as a result, you are paid less money. As a BBB accredited business, we have a long standing history of honest business practices. You will see many cash for gold businesses in Phoenix, but it is very frustrating to find out that you were paid far less than what your gold was worth.

Gold is worth more depending on it's purity, or karat.


Karat purity is measured as 24 times the pure mass divided by the total mass:

    X = 24\,\frac{M_g}{M_m}

where

    \mathit{X} is the Karat rating of the material,
    M_g is the mass of pure gold or platinum in the material, and
    M_m is the total mass of the material.

Therefore, 24-Karat gold is fine (actually 99.9% goldw/w rather than 100%), 18-Karat gold is 18 parts gold 6 parts another metal (forming an alloy with 75% gold), 12-karat gold is 12 parts gold (12 parts another metal), and so forth.

Simply explained, even the most high end jewelry isn't completley pure, as gold is very expendable in its purest state, too expendable to wear as jewelry. The higher karat, the more your gold is worth. For example, an 18k ring( 18 karat, 18 parts gold, 6 parts other metals) would be worth more than a 10k ring( 10 parts gold, 14 parts other metals). There are a few ways to determine if gold is real yourself, like running a magnet over it, as gold is not magnetic and won't stick, as well as looking for markings indicating what karat the gold is. However, the easiest and fool proof way is to bring your gold to a licensed buyer with the right equipment. Within minutes a buyer can let you know the weight and karat, as well as assess any stones that are on the jewelry.

Gold can come in white, yellow or rose colored. One is not worth any less than the other, because they are just finished differently, causing the color change.

  • Q: What type of gold is worth money?

    A: Any gold with a content substantial enough to weigh in grams is worth money. Usually, the minimum karat (or
    purity amount) considered real is 8k(or 8 karat, meaning 8 parts gold, 16 parts other metal). Because anything less than 8k has too little actual gold content to weigh out and get a value for, most gold buyers will not purchase jewelry that is less than 8k.
  • Q: My gold is "white", the same color as silver, is it worth the same as yellow gold?

    A: Yes. Gold can come in different colors like white or rose. This is just a result of a different finishing process. For example, white gold is just a rhodium finish over yellow gold. No matter the color, as long as it's gold, it's worth the same price.
  • Q: Is all gold worth the same amount?

    A: No. The price you are paid depends on three things. The first would be what the spot price, or current price of gold is. Gold is a traded commodity that has a changing price. It can change even several times an hour. When there is more strength in the economy, gold will go down. When there are fears of war, or doubts in the dollar, you will see the price of gold rise. The second factor that determines how much your gold is worth is what karat, or purity of gold you have. 14k pays more than 10k, and 18k pays more than 14k. The higher in purity your gold is, the more it is worth. A reputable gold buyer can easily test for purity, and will pay fairly. The last thing to take into consideration is the amount of gold you have in grams. Since gold is paid by the weight, the more grams you have, the more cash you will be paid for it..
  • Q: How do I know what karat or purity my gold is?

    A: There are often markings on your gold that will indicate the purity level. On rings, you can find the markings on the inside of the band, on necklaces and bracelets, it is often on the clasp. Sometimes they are very small, and you will beed a magnifying glass to see them. Karats range from about 8k to 24k. Keep in mind that some countries are less strict on jewelry labeling than others. This is why it is a good idea to take your jewelry to a licensed gold buyer so they can test your jewelry.
  • Q: How does a gold buyer know what karat or purity my gold is?

    A: A gold buyer should carry a license stating that they are registered with the state to test and buy gold. They should also have certified scales and equipment. To test for gold purity, a buyer will use a non pourus stone, and gold testic acid, often in the form of nitric acid. The gold buyer will rub a piece of jewelry onto the stone, causing a small, gold marking to appear(this process will cause absoulutley no damage to the jewelry). Next, the gold buyer will apply a small drop of the corresponding testing acid. For example, if the ring is marked 14k, the buyer will use 14k gold testing acid. If the mark stays on the stone when the acid is applied instead of dissolving, the buyer will know that the gold is in fact 14k. Since the chemicals used to test gold can be dangerous, it is a good idea to always have a profession perform them
  • Q:What if my jewelry is broken or missing stones?

    A:Your jewelry is still worth money even when broken or damaged. This type of jewelry is refered to as scrap gold and is usually used for melting down into bricks by a gold refiner. It is a good idea to separate your scrap gold into karats before selling your gold so that you know exactly what you have.

  • Q: How can I make sure I am getting the best price for my gold?

    A: There are some things to know before selling gold that can really help you get a better price. You will see many gold buyers and mail in gold shops, along with pawn shops. Most buyers are looking to make a quick buck and hoping you don't know what you have.Start by seperating all the 10k from 14k, and so on. If you know exactly how much you have, there won't be any confusion when selling. Ask the buyer how much they pay for each karat. You should always feel comfortable asking questions, it will help you to compare and find the best deal. After they test your gold, check the weight total of your items. The price they pay per gram for each karat should match the total weight they give you at the end. Lastly, check for a buyer that is registered with the BBB, and has a history of honest business practices. A reputable buyer should do everything right in front of you and will enjoy educating you on selling gold and the pieces that you have. If you feel uncomfortable or pressured, don't hesitate to take your business somewhere else. .
  • Q: What is the process for selling gold?

    A: When selling your gold to a reputable gold buyer, the process should be quick and simple. The gold buyer should make you feal at ease, and you should be comfortable asking questions. Beware of someone who makes you feel rushed or pressured, or if your items are not in your sight at all times. Your gold will be tested for purity, usually via a stone and nitric gold testing acid. Next, the buyer will weigh your gold, using a certified scale. The price you are given depends on the gold price for the day, the karat of gold that you have, and the total weight in grams of all your items combined.
  • Q: Does it cost money to test my gold?

    A: No. At Arizona Gold & Diamonds, Quotes and testing on gold is free. It is generally looked upon as a shady busy practice to charge customers for a non-written appraisal or test for their gold.
  • Q: What do I need to bring to sell my gold?

    A: By law, a gold buyer must take a valid ID. The types of ID and restrictions vary by state. There is a holding period after purchase for legal reasons and the seller must be able to be verified by law enforcement. For this reason, a valid ID must be accompanied with any gold. That's all you need!
#

Need Help ?

Didn't find what you were looking for? We are happy to speak in person or on the phone!