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How to Buy Gold and Gold Jewelry
Unless you are a frequent jewelry buyer, you may feel uneasy about
spending a significant amount of your hard-earned money on expensive
jewelry. Even jewelry lovers at times are confused about the true
value of gold jewelry. So what are the key factors to look at when
purchasing gold jewelry? The value of a gold
jewelry piece is comprised of karatage, gram weight, design, and
craftsmanship (or quality).
Karatage
Is the gold 10k, 14k, or 18k? While the difference in color may be
subtle to the eye, there is a great difference in price. 10k is only
41.7% pure gold and 18k is 75% pure gold, so you can expect to pay
more for higher karat gold jewelry. Typically, 10k gold jewelry ranges
from $14-$20 per gram, 14k gold jewelry ranges from $20-$30 per gram,
and 18k gold jewelry ranges from $27-37 per gram. Always look for
a karat hallmark stamped on the jewelry piece.
Gram Weight
How many grams does the item weigh? This factor is very important
because it shows how much gold is used to make the item. Generally,
the higher the gram weight, the more expensive and stronger the jewelry
is. For example, one pair of huggy earrings may be wafer thin, weigh
only 2 grams and cost $60. A similar pair of huggy earrings may be
slightly thicker, weigh 4 grams, and cost $80. Which is a better deal?
Although the answer is debatable, I would say the second pair of earrings
is a better deal for two reasons. First, the price per gram for the
second pair of earrings is $20 per gram, as opposed to $30 per gram
for the lighter earrings. Secondly, you get twice as much gold for
paying only $20 more. I would rather have more gold, not because I
plan to pawn the jewelry some day, but because more gold usually means
the item is stronger and less likely to bend or break.
Design
Design refers to the unique and intricate patterns, engravings, and
finishes on gold jewelry. There are various finishes, like brushed,
matte, and satin, which cost more than a regular polished finish.
You can expect to pay a higher price/gram for decorative finishes,
multiple gold colors, and new styles. In addition, any type of custom
design work by hand increases the cost of the item significantly.
Craftsmanship (Quality)
Today, most jewelry is manufactured by precision machines that adhere
to strict quality standards. Still, most jewelry requires a jeweler's
handiwork for its finishing touches. The key points to check are areas
where the jewelry moves or where separate pieces join together. Always
inspect clasps, settings, and latches because they are most likely
to break. Is it secure? Does it feel strong? Will it snag easily?
Also, jewelry is sometimes marked by the country of origin. For example,
Italian jewelry, renowned for their craftsmanship, is usually marked
"Italy". With proper care, a well-crafted piece of jewelry should
last for years.
Consumers Beware
There are so many merchants claiming 40%-60% off promotions that you
should question whether they are true discounts, or just inflated
"deals". The "regular" price of many of these so-called discounts
are purposely inflated to begin with, so 50% off an over-priced item
doesn't mean you are getting a bargain. This doesn't mean that you
cannot find a great deal on jewelry. But to prevent yourself from
being duped by deceptive pricing, pay careful attention to the quality
of the jewelry piece, make comparisons with various retailers, and
ask plenty of questions.
All of the above criteria can be summarized by one golden rule. When
buying gold jewelry, find the karatage, design, and craftsmanship
that you desire. Then find the jewelry store that meets your requirements
with the lowest price per gram and you will be confident with your
purchase.
Pop Question: Does a 14k and 18k gold
ring of the exact same size and design weigh the same?
Answer: No, an 18k ring weighs about 20% more than the same ring made
in 14k gold. Why? 18k is 75% pure gold, while 14k is 58% pure gold.
And gold is much denser(heavier) than the other metals it is mixed
with. So although 2 rings may be the exact same size, the 18k ring
has more pure gold than a 14k ring, which makes it heavier.
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