Old gold the right story

Old gold how is the story right?

Suppose you inherit gold jewelry from the family, usually not contemporary still wearable jewelry. Usually they are then simply offered for sale at a bureau de change or jeweler. But what is the value of scrap gold? Almost no jewelry consists of pure or sterling gold. (24 Kt) But in Belgium almost everywhere this is standard 18 KT or (750 parts pure gold to 1000 parts). In the Netherlands and Turkey this is standard 14 Kt (585 parts pure gold on 1000 parts).

Why is it never pure gold?

Very simple gold jewelry made of pure gold is not wearable. The ring would deform completely with daily use. It is therefore alloyed first and foremost to ensure its strength. But also so it can be worked on. One of the best workable alloys are these in 18 Ct gold. These have perfect hardness. Because a too hard material is also not so good this is because it wears out too quickly. Statements that 14 Ct is a better alloy sometimes cause discussion in the field, but reality teaches us that an 18 Ct alloy (if perfectly composed and properly processed) can sometimes even be harder than 14 Ct alloys!

What do I do best with my old gold?

If you were to ask a goldsmith, myself included of course most will prefer to rework this into a new contemporary jewel. Why exactly? Quite simply and for these reasons:

1. There is no VAT and no (mandatory) margin on your own old gold.
2. The emotional value of working with gold from the family can add value.
3. Its ecological value. If working with scrap gold you are working with "recycled gold"

Therefore, always keep a small amount of old gold just like that ( in a safe). You can always use it for an engagement ring or even wedding rings or you don't know what to give on Christmas Eve or New Year's Eve. The cheapest gold is gold you own but don't use.

Feel free to compare old gold to scrap iron!

If your old gold is really worn out like a car ripe for the scrap metal, then if you would need money you can sell it like a car wreck.

In the goldsmith sector, a number of highly skilled jewelers and goldsmiths rightly frowned their faces after reading the inspector's article on Radio 2. The article was written from too weak a source of information and is also really misleading at times. It claims that you can get more or less 75 percent gold payout. The value of gold present in 18 karat gold. Mathematically this is completely correct but this is totally unrealistic. Even a scrap metal buyer does not give the value to an individual of the real scrap metal price. We are traders, i.e. we also have to earn something. How much is debatable. But even that is created by father state itself because they consider an average profit margin on scrap gold to be the right one. An inspector could otherwise accuse the dealer of illegal work if he were miles away from the average profit margin.

There are also so many additional regulations (laws) that for the ordinary jeweler or goldsmith it is so much hassle that it is no longer interesting unless you buy by the kilo. If a goldsmith or jeweler forgets to fill out a paper, he will be fined.

What makes the Radio 2 article seem even more implausible is that it forgets that even the traders themselves do not get paid 75 percent ( or the correct value of the gold) because "the refinery of gold" charges fees to refine the old gold back. Doesn't this sound a little more plausible? I think so because that is the reality!

It is especially unfortunate that this vulnerable sector of jewelers and goldsmiths is taking another hit. Hopefully most people have some common sense and see the article as "not thoroughly" researched instead of the truth. See article: https://radio2.be/de-inspecteur/waarom-zijn-mijn-gouden-juwelen-niet-overal-evenveel-waard

And an additional golden tip

If your jewel is still in fine condition look at it more like a 2nd hand car. Your jewel is also worth a bit more than its scrap metal value after a professional inspection and polishing! Feel free to sell this on auction sites with confidence. Your craftsman will be happy to determine the 2nd hand value. There is also a nice advantage for the buyer: he or she can buy a beautiful "ecological jewel" for next to nothing.