Selling Gold, Platinum & Other Precious Metals

Considering selling your gold jewelry? Island Gold staff members are very knowledgeable about this industry, and are happy to share precious metal information with you. Knowing what to look for in evaluating your gold is essential. All metals are stamped with a hallmark that tells you the metal type and content. Here’s a list for your reference:

The higher the content (or fineness), the more valuable the gold content.

You can also use a magnet to double-check that your item is a pure precious metal; gold, silver, and platinum aren’t magnetic. It’s OK if the clasp of your jewelry sticks to the magnet as clasps often have other types of metals mixed in to lend strength and durability.

Real gold will also show a scratch. Please scratch scrap pieces only!

Check around the clasp; if it shows signs of wear or discoloration, chances are the piece is plated and not a precious metal.

Remember gold comes in many colors: yellow; white (it’s silvery in color but don’t confuse it with sterling silver), rose gold (a soft lovely pink); and green gold (a delicate green tint tinged with yellow).

Platinum is silver in color and has a richer luster than white gold or sterling silver.

Gold Hallmarks

This is a list of Some of the Stamps/Hallmarks You Will Find:

  • 8K or 8KT or 333
  • 9K or 8KTor 375
  • 10K or 10KT or 417 sometimes 415
  • 12K or 12KT or 500
  • 14K or 14KT or 585
  • 14KP-P stands for Plumb which means exactly.
  • 18K or 18KT or 750
  • 22K or 22KT or 916
  • 24K or 24KT or 999

If you’re not sure just bring in your items and we will test for free.

What Do The Hallmarks on Gold Mean?

Hallmarks let us know how much gold content a piece actually has. The higher the KT or Fineness number on the stamp the higher the Gold content.

Here’s an example: If an item is 10KT and worth $100 the same item in 14KT would be worth $140 and if the item were 18KT it would be worth $180.

When selling items make sure the Gold Buyer or Cash for Gold location is taking into account the actual Gold content. They usually do this by separating and testing the items and then paying based on the Gold Content for each category. If they are putting all items on the scale at one time they are not taking Gold content into account.

Pure Gold is 24K or KT but it is too soft for jewelry so it is usually mixed with another metal to give it strength and durability. Gold Bullion is usually 24KT, Gold Coins can be 24KTK but sometimes are 22K and have other metals mixed in.

Gold Partners always pays based on Gold Content and will quote prices based on Gram weight.

Comparing Quotes for Selling Gold

Island Gold always pays based on Gold Content and will quote prices based on Gram weight. When getting estimates from other gold buyers make sure the quote is on Gram Weight and not Penny Weight or other weight type. One Penny Weight is equal to 1.555 grams.

Here’s an example:

You have an item that Weights 10 Penny Weights

10 Penny Weights equals 15.555 grams.

You get a quote of $20 per Penny Weight and $18 per Gram from two different Gold Buyers

You would be paid $200 for the Penny Weight quote and $280 for the gram quote.

This tactic is used to make you think one gold and platinum buyer is paying more than another. Make sure you are comparing apples to apples when getting price quotes.

Gold Content Chart

Gold content chart

We Are Platinum Buyers

Platinum is another precious metal that we at Island Gold will buy. It is Silver in Color and will be marked.

Here is a list of Hallmarks to look for:

  • PT950
  • 950PT
  • 950PLAT
  • PT900
  • 900PT
  • 900PLAT
  • PT999
  • PT850

Call (361) 589-4320 or stop into our Corpus Christi shop for your FREE estimate today.