Karat VS Carat

Karat VS Carat

It is an thought-provoking question as it throws quite a few people off since karat(purity) is legitimately spelled with a “C”(Carat) making the word closely the same as used for evaluating gem stones.
When it comes to the purity of gold it is quantified in karat purity. The shortened version is shown as kt. This is articulated in a system of 24, 24kt being pure gold or 100% pure.
Where people get mixed up is that gem stones such as diamonds, rubies, sapphires, including many others are measures in a system of carat weight. Carat weight is a system of very small values so it lends itself to gem stones. For example a stone with 1.00 carat weigh equal 0.2 grams. Now 0.2 grams does not seem like much but if I know many people that would be happy with a 1.00 carat weight diamond.
This can be confusing but the best way to teach oneself is to remember was that gem stones are always pure and are never diluted and to measure them you would want to know the weight of them which would give you the value.
For gold, you want to know the purity in karats and the weight in grams or penny weights to understand how much you have.
Another fact to remember is it comes down to what people really want to know most about gem stones VS gold. For gem stones one would want know how large the stone is, followed by clarity. Whereas for gold sellers/buyers, we want to know how pure it is then access it’s worth.

To your gold selling success…!!

Gold Price and 1st Blog Post

Gold Prices are near all times high still! With the price of gold closing at 1743 on this Halloween weekend. The price of silver is also gravitating towards the all time high level of $50+ dollars an ounce. Long Islanders have been out and about selling their precious metals and valuables while the iron is hot! At our locations in suffolk county we have been seeing a rise in the number of gold sellers and silver sellers getting the best prices for all jewelry, gold, silver, platinum, and diamonds.
The picture above is of a 1 Ounce silver bullion coin. It is from 2006 and we just recently purchased a handfull of these beautiful coins. The silver content in this coin is 1 ounce of silver! This is a great coin and a beautiful pieces. The gentleman who sold us this coin was from Huntington and had a nice collection of pieces.