This guy is 100% pure gold himself for the act of sharing the must know information with the public concerning buy/selling ,pricing, value of gold and gold jewelry items & products etc. Standing ovation for him because of the information he has freely given out! Any where or anyone else you would definitely have to pay for it! His act of sharing is caring is priceless!
YEAH YOU BEEN GETTING RIPOFF UFFF FOR THE YEARS IN THE U.S CAUSE WHAT IS THE COST OF GOLD IN COLOMBIA PANAMA AND LATIN COUNTRY THEY WAY OVER PRICED WE PAY LETS SAY 100 FOR 10KT RING YOU WILL PAY THE TRIPLE.
@@ricardohenriquez1395 I do believe, and correct me if I'm wrong, that the price of gold anywhere in the world is the exact same price. If Cuban price of gold is higher, then you made more money selling it to the Cubans. I just don't get your point?
is it tho? really? ask urself. whats he to gain from divulging the secrets of his trade? how much of it is altruism and how much of it is for views/monetization/subs do u think?
@@elm4nsuri Your Judgements are from a place bias my friend. What's your viewpoint is what your motivation/actions are as what you'd do in his shoes. Your not open minded to really read or feel his Energies. I read people just I read your Energies now behind your commentary. Pretty much Verbatim Right? Honestly "YES!" He is retired his simple backdrop his wording is in layman's terms detailed very concise. Think before reacting sir the world & yourself will be better for it...
@@RKTreasureCenter Now understand why my insurance agent told me to get my wifes jewelry appraised before having it insured. I had a very rude awakening when they evaluated my watches..VERY subjective..😒
Investors are drawn to gold for several reasons: its long-standing history as a store of value and medium of exchange, its effectiveness as a hedge against inflation or currency devaluation, and its scarcity compared to other commodities. Gold also provides diversification benefits, as it typically has a low correlation with traditional assets like stocks and bonds. However, it's important to recognize that investing in gold carries certain risks and may not suit every investor. It’s essential to assess your financial objectives, risk tolerance, and overall financial situation before making any decisions.
Personally, I find gold to be a solid investment and plan to keep increasing my holdings to recover past losses. While silver, equities, and digital assets also offer good opportunities, my collectibles don’t play the same role in my strategy. Defining clear investment goals and educating yourself about your chosen investment types is crucial for long-term success.
Yes, gold is an excellent investment and a strong hedge against the declining value of the dollar. I’ve held a position for some time, and I’m especially thankful for my advisor’s rapid adjustments in response to market shifts-without that, my losses could have been substantial.
Rebecca Lynne Buie has consistently been my top recommendation. She’s widely recognized for her expertise in financial markets and has a strong track record. I highly recommend her.
I already know about gold, but I just want to say, as a gold enthuisat, That I 100% thoroughly love and enjoyed this video. I support this man's hard work & efforts to teach the common consumer
Did anyone know that goal is a rare Element because it can only be produced during one event, and that event is a supernova explosion when the sun has exhausted all of his hydrogen begins burning heavier elements until it runs out of any elements to burn and the force of gravity is so intense that it compresses the star down to its core and a massive explosion occurs doing this massive explosion the intense pressure of gravity causes all of these elements to be spewed out into the Galaxy are nickel copper Platinum uranium and of course gold. Man has been able to reproduce gold in the laboratory however it is extremely expensive and not cost-effective when you are modifying the atomic nuclei of an atom in order to get the appropriate atomic number for gold. I won't go into the details of atomic mass and atomic weight but that's the whole point it's all about the proton neutron electron configuration of an atom which determines what element and material will be. So just what I said gold is extremely rare and that's why it has such value it's a beautiful metal and it can only be created in the heart of a dying star.
My parents were into gold and diamonds. I used to hang out in jewelry shops in Hong Kong, Vientiane, Bangkok, Beirut and Amsterdam. Mom and dad used to have custom pieces made, nothing less than 18 karats but, not more than 22 karats. Though we have a piece of hand woven silk with about a 30cm x 1 miter of 24 karat beads: each of the thousands about twice the size of a grain of rice. All this sold off years ago, dad having passed a lot 21 years ago. I know quite a bit about hold and diamonds, as well as the quality and value if prescious stones. With all this said, I never had a better class or seen a better video on the value and quality on gold jewelry and metal than this one. You get an A+++ or, if if it was compared to the very finest of gold, you would be 99.999 pure! I don't consider owning anything with gold in it if it is less than 18 karats. Excellent video! Bravo! Thank you very much for this.
Roy, u r worth 1000x ur weight in GOLD for the knowledge u shared in this video. I grabbed a notebook n backed up several times to correct my messy note taking & caught little comments (missed due to noise (dog barking, interruptions, etc.) Jewels that I would have missed!! Thank you for the wealth of Wisdom shared.
Just remember that if your gold is a designer piece or has real gemstones. An auction or antiques dealer would probably be a better option than a gold shop.
Pawnshop will usually sell 3Xs what it’s worth. So if they’re offering you $100 for a gold piece that means that they need to sell it for around $300. Stay away from pawnshops to sell any gold piece. But if you need a quick loan that’s a good place. Loans only.
My dad used to own a pawn/buy&sell here in las vegas and he told me that for gold they wouldnt pay more then 35-40% of what the item was actually worth.but he always would start with a 30% offer and work up to 40.its a greedy business
Knowing the worth of gold jewelry (the metal price) is easy. 1. First you weigh it, so you know the weight of the jewelry. 2. The next you do is to find out how many karat your piece of jewelry is. - 24 karat is th same as 999 / 1000 of gold (since Gold is a soft material, you rarely make jewelry in pure gold. The jewelry is stamped with 999. - 22 karat is 916 / 1000. The jewelry is stamped with 916 - 20 karat is 833 / 1000. The jewelry is stamped with 833 - 18 karat is 750 / 1000. The jewelry is stamped with 750 - 14 karat is 585 / 1000. The jewelry is stamped with 585 - 10 karat is 417 / 1000. The jewelry is stamped with 417 - 9 karat is 375 / 1000. The jewelry is stamped with 375 - 8 karat is 333 / 1000. The jewelry is stamped with 333 The y /x notation stands for parts of gold pr 1000. Let us say you have a jewelry weighting 25 grams, and it is stamped with 585 (or 14 karat). You then divide 25 with 1000. Then you multiply that number with 585. That gives you 14,625, which means your piece of jewelry has 14,63 grams of pure gold. 3. The next you need to find is the raw material price of gold. This price fluctates day by day. Gold is bought and sold in troy ounces, which equals 31.1035 grams. The gold price when I write this comment is 1820.60 USD. 4. The next part is to find out what this metal price equals to for your jewelry. If we take 1820.60 and divide that by 31.1035 that gives us a price pr gram of 58.5 USD. Then you multiply this price again with the amount of grams of pure gold your jewelry contains. In our example this will be 58,5 x 14.63 = 855,89 USD. The example above is what the gold in the jewelry is worth if you just melt it down and sell it. But the jewelry itself can have elements with it that increase its worth above the actual gold price. It can contain diamonds or other stones, and it can be an extraordinary piece in itself. Pawn shops will never give you what the jewelry is worth, and they will grossly underbid its actual price because they want to profit from the deal as well. So if you are not in a hurry, you will probably get a much better price by selling it through other channels.
@@marksoprano007 : ... and as a side comment. When I wrote my original comment the gold was priced to 1820 USD for one troy ounce. Now the gold price is 2716 USD for a troy ounce. It is important to know what your gold is worth ... and then research where you can get the best deal if you decide to sell your gold. Cheers.
@@makingwaves1239 very well said, yes, I completely agree. I do know what my gold is worth in grams and current market value. I think the only problem I’m having is where to go. I see some mail in places that guarantee 90 to 98% of current spot, price of gold, but I’m a little bit leery about shipping to them. I’m trying to look around, but I don’t think a small little jewelry shop will give close to 90-98% range.
@@marksoprano007 : If you are not in need for the money, I wouldn't rush it. You can try to take some nice pictures of your jewelry and try some of the online market places and see if someone values the piece itself as something they will pay extra for. You can do some research to see what similar jewelry has as their asking price. Ideally you should be able to sell your gold close to or even above current raw material price. Just remember to be careful with payment/delivery since there are a lot of scammers out there and some of their methods are quite sophisticated. Where I live in the world I also see a lot of those "mail us your gold today, and we'll pay you cash in 24 hours" type of companies. Usually they rip of old grandmothers that has some jewelry in their night stand drawer and that have no clue what their gold is actually worth. If you don't need to sell, you could even think about keeping it. In the inflationary world we are living in today, the prices of about anything will just continue rising. Back in 2004 you paid 410 USD for a troy ounce of gold. When the same troy ounce is priced over 2700 USD today, it is obvious that the dollar (and every other currency in the world) lose their value gradually over time. Anyways ... regardless of what you end up with as your choice, I just hope it works out for you. Cheers 🙂
I’m so confused now, I’m going to take a nap and watch this again when I wake up, but only after I throw up for giving away the gemstones when I sold almost all my gold jewelry!
Oh don't think bad. Many gemstones are not worth a ton of money unless the were large and or near flawless. Many people dont know, so you're not alone. This is why I made the video. Thanks for watching!👍
@Sarah Renfrow: yes I learned that lesson the hard way too! I was fortunate to find a very sympathetic jeweller who ""pulled my coat tail"" the same as ROY. He told me to ALWAYS remove the gemstones before selling the gold, especially if the gemstones are genuine and worth some money. You'd be surprised and appalled at how some pawnshops get thousands of dollars when they've given you only a couple of hundred dollars for your jewelry. Much like ROY here, he was a modest man and not a RIP-OFF ARTIST as so many pawn shops are. Good luck next time!
I learned these things over a 5 year period.It's exactly right,and it will be worth 1000's to listen to what this man tells you.Good info,not difficult to learn.
I agree with you. It sure is and having watched this video thoroughly alongside considering the recent dip, I know for fact it's time to buy more. Excellent video for new stackers. I've been stacking for a while & learned from mistakes. Best suggestion I could give is to become familiar with the fundamentals and ask professionals for their opinion or better still earn passively and learn at your pace. Avoid getting in over your head
@joecaruso06 Yes I concur. The prominence of institutional or basic financial education and managers cannot be overstated. Markets are oceans not lakes. Take myself, having encountered my fair share of bad trades, I was able to realize how timing, capital, entry and a lot more are essential. Now, I have a $122k portfolio averaging a 12% monthly roi in less than a year following - Yvonne Annette Lively's guide so I do know the importance of basic knowledge and delegation.
I'm British🇬🇧🇬🇧 I own 9ct Gold here I love your video, I do have to say iv even had 9ct jewellery handed down 3 or 4 life times it does not tarnish Quickly quite the opposite robust & sturdy no less.. I only have 24ct small bullion.. Alot of my Indian 🇳🇪 friends own alot of 24ct jewellery and it's forever breaking Bending, snapping beacuse of the high purity being softer
Thank you for this wonderfully informative video. I grew up in Asia and 24k gold was the only gold I knew. My parents have always told me to treat 24k gold as money. They sneer at any gold that’s is less than 24k. When I came to the U.S, I realize how popular 14k is in jewelry. I prefer wearing 14k because it retains its shape unlike soft 24k jewelry. After watching your video, I have learned that next time I go to estate sales, I will buy solid gold jewelry pieces without embellishments because pawn shops won’t give me much or anything for the stone. I also need to buy a scale so I can find out the value of my existing gold pieces, especially 24k ones that my relatives gave me as wedding presents. Thank you for sharing your knowledge!!! 🥰
24K gold doesn't wear well. If you wear it as jewelry alloys hold up better. Also industrial standard is+/- 0.5 k of the marked quality. Guess what side of the marked fineness you get when you buy jewelry.
@Donald, in China we care only about 24k gold, nobody wants jewelry that is less than 24k.. Jewelry are status symbols, so wearing cheap gold doesn't work, it's also very easy to spot when something is less than 24k.. So people don't like to wear it... If you're going to show off, wear the real stuff....
It won't make any difference, the price will be the same. Jewelers are in business to make a profit. Commonly jewelers sell at "triple key" or three times their cost.
@@youtubecertified4643 What a piece is "worth" is what it will sell for to a willing buyer. There are basically five legitimate values for the same item. It depends on WHERE it's sold, WHEN it's sold, etc.
The best value of gold jewelry is generally a gold chain, especially the heavier ones. Mark-up on other pieces is astronomical. You are paying for less common designs and, of couse the maker/designer has to make a buck and then the retailer is gonna bump up the price handsomely as well.
The old tricks of the 20th Century are dead pretty much. Let's put it this way, they're either dead outright or dying a slow death. Knowledge of how things are done are all coming out into the open.
The gold buyer or pawn shop, will almost always, also deduct the stone weight, or their approximation of same, from the overall weight of the piece, unfortunately reducing the offer they make on your gold jewelry. In my humble opinion, it's always best to remove any stones yourself if able, prior to selling gold jewelry for scrap prices. If you are unable to do so, ask them if they would mind doing it for you. Often they will, unless the stones are quite small, or pose too much difficulty to remove. If you have an antique, or substantial piece beset with good size diamonds or other non simulated gemstones, it may be worth your while to stop by a shop or jeweler, that deals in estate jewelry. They may be willing to give you a much better price based more on antique, maker or stone value, than precious metal weight alone. As you noted, with genuine, large, precious and semi precious stones, gemological identification and grading is a must for optimal sell price. Good, informative video. Thanks for sharing.
Here’s a lil info that might help you all. 😉 you can also use a magnet 🧲 to see what type of metal you have. If the magnet pick up your jewelry then you know for sure 💯 it’s ....... suspense 😝 it’s not Gold! So if it picks up your jewelry etc then it’s not gold material.hope this helps you all. When buying jewelry have a magnet great lil tool If ur at a garage sale etc.
Gold is not magnetic. ... Because solid gold jewelry is made from alloys that contain small amounts of alternate metals, your jewelry may still respond to magnetic pull. With items made of silver, but when they plate with the rhodium to stop tarnishing, they use a metal (can't remember what) in a thin layer to bind the rhodium to the silver which is magnetic.
I have an older family friend who I would sell gold and silver too every now and again, he has no kids and about 3 years ago brought me in and taught me how to REALLY buy and sell jewelry.
I found an old wedding/engagement ring at an out of the way Antique store. The owner sold it to me for $40.00. (Business was slow and she needed the cash.) After cleaning and refreshing the ring, I noticed small print on the inside of its band. I took it to the jeweler to get a quote of its true value. Lets just say, I had to get the ring insured due to the high value of the diamond(s) setting abd high metal/gold value! (The jeweler even offered to buy it from me! I declined.) Today, I have a beautiful ring that I now wear as my wedding ring that could be the most expensive item I own next to my house and my car! BTW, I keep an open eye at thrift and antique store.
Good for you sweetheart !!!! God bless you always 🙏 and congratulations on the beautiful ring you found ❤ this gift is far from few, is it not so impossible to find ??? Keep your eyes peeled people 👀 you just never know...
@@MikeMike-nf1jy ...man u stupid, why she has to prove anything to you "gatekeeper of nothing"? Ha ha...wow...she shared an experience, stop being a miserable misanthrope.
Pretty good explanation of how to calculate gold value. Generally you should expect 50% to 75% of the actual value from a buyer or pawn shop. 80 to 90 percent of the jewelry taken in are scrapped and sold to a refiner at around 90% leaving the pawn broker or buyer a small profit of 20% or so.
@@tomiadventures In ref to your question about diamonds. A diamond buyer will currently pay $85 to $110 a carat for clean mille. There is not much of a market for used diamonds between .20 ct and .45 ct. There is a market for diamonds at .5 ct on up. The real market for diamonds is 1ct above for clean, well cut, colorless, round brilliant diamonds.
100% is scrapped unless you are dealing with a pawn shop, who invariable scrap most of it. The weight isn't a great indicator of value since so much is rolled gold or hollow (plus full of crud) and many alloys are bad. You can reuse decent metal easily and if you buy a piece that is hand made odds are it's excellent metal, good as bought metal. The good stuff doesn't et melted down so much though... learn about that if you want to understand the value end of the trade. If a buyer pays 80% he's not getting 20% profit. He'll walk away with 5% unless it's a huge business taking in $100k a day. The pieces need to be dismantles, stones taken out and the refining process is complicated with about 10% loss. God I hope nobody who watches this video walks into my store. I'll offer them less just because of the time wasted and potential for losing money. A gold buyer bought a shop from me and I worked next door for a year and helped strip down his stuff. I reckon someone tried to scam him once a day. They need $500k work of tech just to keep on top!
@@PlatinumRatio There is profit to be made. The small things make a difference in the profit and loss columb. The little crappy tiny stones are worth about $90.00 a ct as scrap. Your better items you will want to retail to your customers or wholesale to a jewler. You should make double key on those. Chains are a good seller. A good refiner will give you a 98% of melt value. You do lose metal in the refining process, 14K gold scrap is usually closer to 12K and 10K is closer to 8K, You have to really check your stuff coming in carefully to avoid Gold Filled, Electroplate and gas staion gold. Any item coming in that has been sized has to be counted at a lower weigth since the solder is a lower Karat weight than jewelry out. On chains you have to discount the appx weight of the latches. I also sell scrap to customers without refining at Spot Plus. Instead of getting money for metal, I usualy trade it for gold or silver bullion which I sell direct to customers. You just have to think a bit outside the box to make a greater rate of return.
Haha! I should have been doing my job of saving the world but I had to put the brakes on everything just to watch your video! You sir have mad teaching skills! Society needs more teachers like you!
My parents and I have been going to the same gold store since I was 8 years old, I’m 31 now, my parents taught me to always buy heavy gold pieces, Miami Cuban bracelets, chains , with NO diamonds, and to this day I have my 100 gram 10k Cuban bracelet, I bought it for 3 grand, now it’s worth 5500, my parent’s always said, “you never know when you’re gonna need money, in a bind” people who buy big hollow pieces, it’s just paper weight, they’ll laugh you out the pawn shop, I became friends with the manager of KAY jewelry store, he told me he would sell my bracelet at his store for 13 grand, he showed me one of his stores bracelets, it must of weighed 45-60 grams, I asked him how much is the price, he said $7500, I asked him how much does it weigh? , he said “oh we don’t weigh our stuff” I told him, “how do you come up with the price?” He said people in higher command decide, and everything is 10k gold unless you ask for 14k, he said that’s how they can afford to do Valentine’s Day specials and Christmas 40-60% off, cause either way they have prices so high they make profit and need 3 months store rent ,
I'd rather buy bullion.. Bars and coins.. Why stack jewelry? The mark up is insane on jewelry.. It can't compete with bullion.. You sound like you collect jewelry as some form of savings and don't know bullion exist.. 9999 bullion gold or silver much cheaper than any necklace or bracelet of the same weight.. I looked at Cuban chains.. Calculated the value according to weight.. 6 ounce silver chain was $600... I can get 20 ounces of pure 999 silver for $600... That's two 10 ounce bars.. Gold works the same way..
Great question! I'm a gold enthusiast myself, but I appreciate the beauty of fine jewellery. Here's my take: You can wear and enjoy jewellery, but bullion is primarily for investment. With gold prices having nearly doubled in the past decade, and jewellers typically marking up their pieces by 20-35%, you could potentially buy a £1000 chain now, and even if it takes 5 years to regain its purchase price in the resale market, you've still had the pleasure of wearing it during that time.
In a pinch you could also use your smart phone’s camera to magnify the tiny markings on the jewelry... most smartphones have a built in “macro” lens/mode for taking close up photos. You can either hold the phone camera over the markings & read the markings from your screen... or if it’s difficult to hold the camera steady, instead take a quick photo and then use the two finger screen spread/ pinch to zoom in/ out on the photo you took to magnify the markings.
Hello sir , from all the 2 days of searching around due to I found a ring on the floor with very little bit of markings and all the testing and pointers you have given me within a matter of 20 minutes I’ve learned in total lifetime. Thank you so much and keep those videos coming because the more you teach the more I learn and the richer I get thank you.
I own a 30g 18 k gold necklace that I purchased in Italy back in 1989. Using the provided calculations, I determined that the gold value of the necklace to be $1332 at today's gold spot of $1841. And here I thought the value was around $50. Thank you for the education. Now how much the pawn shop will offer is a totally different subject. Thinking 50% of value at best.
If you're just looking to get rid of it for a better price than a pawn shop will offer, look at coin dealers. Those guys will usually pay around 70-80% of spot, whereas pawn shops are like 30%. Plus it's super easy, you just bring it in and they test it and weigh it, and pay you cash.
You can check silver gold bull, a bullion dealer which publishes current market prices by the gram. You can select your country’s currency to get the gram price. Then multiple it by your chains weight once converted into the proper weight.
math correction around 13 min 25 sec when calculating karat value from a 3 number stamp (625 = 62.5%) : 625 divided by 1000, then multiplied by 24 = karat value. So, (625/1000)*24 = 0.625 * 24 = 15 karat. Awesome video, the most precious video on TH-cam! lol Thank you RK, you ROCK! Price of gold today hovers around $2750 a troy ounce (Oct 2024). Cheers!
I have been guying gold and silver for years from garage sales , thirft stores.... About 8years ago went to a thrift store and bought a lapis lazuli antique braclet for $20. I believe the thrift store tought is was silver .925, however i had my jewelers loupe and it was actually stamped .950 platinum! and the lapis was the really nice old dark blue with the gold pyrite flecks. Wife loves it!
Great video! This guy is doing what would take most years to learn if they’re starting from scratch. Not a lot of people would take the time to teach people this kind of thing.
This was a VERY informative video. So much information that it confused me many times. Fortunately, I just replayed that part. It does a great job teaching us about GOLD.
I work at a gold refinery and this is a great video because it breaks everything down in the simplest of terms. The only correction I would make is saying that, for instance the 10k would be worth idk $92 right? A pawn shop would see that it's worth $92 and they would only offer you maybe half of that, and that's if they thought they couldn't get over on you. If you're a sucker, or an addict looking for a quick buck, they would probably offer you $35!! Don't for a second think that trying to bluff them with the old, I'll take it to Joe's Pawn Shop down the street will work either lol....they already know Joe's will pay you $34 and in that moment you're gonna feel a knot in your stomach because you just realized that what you are holding only has value to the people that make the jewelry! As he has stated a couple times already, you paid $4,000 a couple years ago, so you think you should be able to get at least $3,000 for it right? I mean it makes sense doesn't it!! Well, it makes sense to the people who make the jewelry, I mean it costs money to make the rings but the math you should be wondering is how much of a profit I could make, after all the costs, from having a $90 lump of gold and turning it into a ring and selling it for $5,999.99 lol. Diamonds are just as much of a loss as gold is too lol....unless it is certified, has a serial number in it and weighs more than .5 carat. I wasn't aware of any of this until I got into the business either, it's just not common knowledge and it really should be because it's damn near a part of everyone's daily routine when you think about it. A watch, a wedding ring, earrings, a necklace, we wear them everyday and it's such a routine it's not something we tend to over think on. But we spend so much money on this stuff and it has only gotten worse with rappers and celebrities making it a center piece of what they've achieved and it has become a statement that says I've made it!! But the only thing you've made it a GIGANTIC error in spending and a whole bunch of rich people richer 🤣🤣🤣🤣
Jewelry is a racket. Total rip off. I have a 1oz gold buffalo. It’s 9.999 fine gold, or 24k. It’s worth the spot price of gold. So if I buy a gold chain that is far less in karat weight to it, it should be cheaper than or at cost of the gold. The money you make is the karat weight you skimmed making it 18 or 14k with the chain. So basically jewelers are scum bag thieves.
Agree. I inherited a luxury watch. It had bern bought for $4,000. I wanted to sell it and the guy said possibly $1,300. Forget it. I'll be buried with it before I let it go for that.
@@thetapheonix Agree. I had no idea what an obscene racket it is until my jewelry was insulted by a dealer who called it SCRAP and offered me $4 for a sterling silver necklace.
truly informative, been selling gold for awhile. I'd like to find a buyer who pays 'spot' the best we've seen is @75% or just a little higher. My greatest revelation was how little diamonds are actually worth, our buyer routinely sells 1 oz bags of small cut diamonds for 80 bucks!
I love it. Brings a sense of timelessness and added value. As if my dad or gpa was giving me advice instead of a TH-cam phenom that’s just trying to upsell to a book or something. I wished all 60-90 year olds would make videos like this with good solid advice. I keep telling my mom to make seamstress and my dad carpenter videos.
I recently purchased the standard acid testing kit and before using it I figured I would go on TH-cam to see if there are any tips and I came across your video. I own and operate my own business and it's clear that you take pride in what you do and are very truthful and for that I think you. I am literally 2 minutes into the video while making this comment and I can see that you are genuine and honest. I will watch the rest of the video but I wanted to take this time to thank you.
James I truly appreciate your comment. I hope you enjoy the video and it provides some good knowledge and information for you. Thank you for watching and hope all goes well for you in life.😁👍
For a beginner in this area I suggest you buy a jewelry scale. You can get one that will weigh from 0 to 100 grams to an accuracy of +/- 0.01 grams for less than £10. Maybe even cheaper where you live.
One hallmark you forgot to mention is GF (gold filled). It has more gold in it than GP and a bit more that RGP, but it is still not pure gold. And since the gold is thicker, it can show as gold with testing kits. This is a fantastic video though. Wish I would’ve seen this when I first started buying and selling gold 5 years ago. A lot of learning along the way, and you’ve covered 90% of what I learned along the way.
You can calculate the amount of gold in a GF item. The piece will have a mark - usually 10K20 or 12K20. The 10K or 12K indicates the purity of the gold and the 20 indicates that 1/20th of the weight is karat gold. 1/20th is 5%. If the piece is 12K, then the gold itself is 50%. So the gold content by weight of 12K20 is 50% of 5% or 2.5%. For 10K20, the gold content by weight is 2.1%. So, say you have 1 Toz of 10K20 GF jewelry and are wondering what the spot value is. If spot is $1600 Toz, then that ounce of GF jewelry contains .021 Toz of pure gold - with a spot value of $33.60. Many buyers, and few refiners, will even accept the GF items - unless possibly it is a very large lot.
9ct gold is very commonly purchased in the UK and it does not tarnish. It's ideal for wedding rings because it doesn't wear down as fast as higher percentages of gold.
You're better than you thought. I was in the process of refilling my coffee cup when you suggested we pause and get our drinks. Hmm. This is a video I'll have to study and take notes. Meantime, thank you!
I’m so pleased I found you!!! You are brilliant at explaining it all and a hoot as well. My Gramps taught me about gold, silver and all the gems 💎 ratings, numbers, letters, etc. when I was a wee lass. No, he wasn’t a jeweller. He, along with my Da, invested well. I was investing, through them, by the age of 10. It’s astonishing to me how overpriced jewellery is in shops let alone people pay that price!! If you know the true value, you can spend properly.
Insider tip: I have found that coin dealers and gold jewelry buyers at numismatic coin shows tend to pay the highest percentages of spot - about 93%to 97%. I think this is due to the fact that at a major coin show gold buyers are all competing with one another on the bourse floor to purchase your gold. When you can just walk ten feet to seek a better offer it’s amazing how close to spot some of these buyers can go!
Stopped at 3:30 good video for a beginner i feel like this is me telling my friends and family over n over again all the info on precious metals& coins etc..
Interesting video and good information. Don’t know which is the worst cheat, the pawn shop not including the stone value or the original store which charges 3,000 percent more than what the gold was worth.
I am always on the lookout for gold and have had lucky sometimes. One place I have found some pieces of gold necklaces is at our very big used clothes market in Nairobi, Kenya. They mostly are in the handbags at the handbags section. One is allowed to check inside pockets of bags or clothes you may be interested in buying.
Let’s be honest. That’s theft lol. They let you look in, but we both know they would not sell it to you if you told him you found gold. So you’re lying to them and taking advantage of their ignorance. Now, if you bought it and found gold, it wouldn’t be stealing if you didn’t come back. But finding the gold and then pretending you didn’t, and then paying for just a bag lol. That’s theft.
@@fredvalencia2205 gold bars are the perfect choice for investing because they are 999 pure gold and maintains a high market value where as jewelry comes in different carats and the value varies depending on wearable or scrap. But jewelry is cheaper and can be melted into bars......my choice for investing is to buy gold bars and rounds from reputable dealers. Thanks for the question.😁👍
If I watch a video & learn something from it, I'm impressed. In this video I learned through the entire 25 minutes (minus the 4 or so second intermission lol) Really great video. Thank you Roy.
LOL you have a $3600 gold bracelet , and you needed shops to tell you its real? And why 4 different shops? Why did you need to waste their time like that? Did you steal the bracelet or something? How would you not know how much it’s worth?
@jamesbizs it's not a waste of time, i was shopping for necklace for my fiance and while i was there at those places i had them check it out. I'm not gunna buy a bracelet and then just go to other jewelry stores to have them check it out right after
I was always curious about Gold jewelry. It is unreal (to me) as of why people spend so much money on jewelry, I don't dig it. That was pretty damn good, thanks
Oh, btw, wonderful video. Absolutely loved it. I wish you could give some hints about unhallmarked gold. There’s a lot of it around too, as so many people remelt their jewelry. My mother did that constantly. So don’t necessarily throw away unhallmarked pieces!
I've never seen non-hallmarked jewellery that isn't junk metal and I've seen a lot that is fake... and I've seen 100,000 pieces go through gold buyers. It's a shock to discover how much cheating goes on with cheap sellers and 2nd hand sellers are worse. A lot of shady characters are attracted to easy money, whereas established jewellers will never chance it - not once in their whole career.
Best thing to do is get a jewelry acid testing kit and learn hot to scratch test the gold. I have had some pieces that were stamped 14k that were more like 8k
You are awesome. I mean this in the most respectful and nice way but they way he speaks is like a caring grandfather I never had - thanks for sharing your amazing knowledge with us~!
@@RKTreasureCenter Sir, I want go pawnshop buy gold jewelry then resale at a profit. No one has a video about it. Do you think it would work? What are best pieces to resell chains, rings , earrings ETC?
Really insightful video i must say. Investing in precious metals such as gold and silver is a smart financial decision, in a few years people will be kicking themselves in regret for missing the opportunity of buying and investing in gold.
Where were you when I needed to help my sons learn math?! You should consider making videos for all subjects! You definitely have a gift for teaching!🙂
Thank you so very much for the information!! I happened to come across some beautiful old Gold and stone jewelry ( hidden in a house that my friend and I bought) brought it to the pawn shop and they wanted to buy it and was in a hurry to buy it all for 300.00 !! So I thanked them and felt like there was more to them than trying to help me!!!! So now I will deep into search to sell it myself with out being taken!!! So glad I came across your video!!!
Can do the net value in one formula (24 and 31.1 are constants, multiplied giving 746.4): K * weight_gram * market_price_ounce Divided by 746.4 . The result is more accurate too, actually the value becomes less than in your rounded 4 steps. Example: 10 * 4.32 * 1600 / 746.4 = 90.605 $, yours 92.62 .
@@miscalanoius1842 well not everyone is exceptional at every equation ever lol. You'd be surprised how many cannot follow if it went faster and he automatically assumed everyone knew what he knew already. This denotes that you yourself feel insecure about your mental abilities or have been in the past. Lol i swear some people feel like everything is condescending if it's slower paced and informative. However I think you're overlooking the tone of voice, the context, and the age and gender of the person presenting the information. He's not a teacher, he is only teaching what he knows and how he understands this stuff. I find it to be the best if something is presented this say so you can truly understand everything with little room for a misunderstanding. If you're more secure with yourself and your abilities i think you'll say people are condescending less frequently. I don't know about jewelry metal purity or anything like that. Lol so for me I know he's talking slow and really old-school but i appreciate that, reminds me of my father. 😂 I mean no harm just offering just my 2 cents. Sometimes you'll be right when someone is being condescending, but here I don't think this is appropriate.
I love the way you use humor throughout your explanations! 😂 Thank you for sharing this info. I know a lot of people don't understand most of the things you've mentioned. Including myself of course...lol For example... I had never heard of a "Troy Ounce" before this.
In Portugal, the majority of the pieces of Gold feature 19,2 Kt The maximum allowed in Jewellery is 22 Kt. Probably bcz 23 or 24 Kt would render the pieces of Jewellery extremely Soft. However, Gold bars purchased for investment purposes feature 24 Kt.
Hello Roy!!! This video is AWESOME AND INFORMATIVE!!! The best I have ever seen about gold jewelry ! Like we used to say back in the 80's "U DA BOMB"! Andrew
Thank you this is the most comprehensive yet understandable video which was organized in a concise manner making the information easy to retain. Thank you!
Roy, I wanted to thank you so much for this wonderful video. It was clear & easy to understand. I can now sell some of my gold jewelry with some educated confidence that I won't be ripped off again.
Question for Roy: I really appreciate the education regarding gold value. What should a person do with the gemstones? It sounds as if they are just a gift to a pawnshop since they don't want to pay for it (well, the total weight includes the stone). Should I remove the stones and sell them separately? I see jewelry for sale in pawn shops and I always assumed they want the jewelry intact, but if they're only willing to pay for the gold, why not remove the gems? Any insight you could provide would be appreciated by me, but everyone else would benefit as well.
Thanks for the question. Most gemstones are not worth it to remove unless you have a bunch. If the gem is a precious diamond then I would have it appraised, but only if it is over 1 carat. Otherwise not worth the appraisal fee or removal. Talk to the several jewelry buyers to find out how they pay for diamonds. Some do and some say they do but don't. 👍
@@RKTreasureCenterSame thing I was told by a jewelry store. Unless it’s a K or more. It’s not worth it to them to remove them so they can “resell” them.
I would only have them removed if they are 1 carat or larger. Other than that it's probably not worth it. Talk to whoever you selling the ring to if they pay for the stones. The real truth is diamonds for instance, truly are not rare anymore....they are everywhere and everyone has them. It's all about marketing. Unless they are unique or large there is much resale value.
Sometimes I remove the stones depending what they are sometimes they are not worth the trouble I have found different people that will buy the stones in the 65 plus years I have been buying and I have sold many stones at the various flee markets you will discover different places as time goes on but this video is a very good one to watch he is very informative
Have my great grandmother’s mother ring. It has my grandmother and great aunt’s birthstones (diamond and emerald). Was curious about the value, though I’d never sell it. It’s 12k so thought “oh it’s not worth much at all beyond my sentimental value “. Had no idea it is a discontinued blend. Thank you so much for explaining so honestly and thoroughly. Look forward to passing this piece on to my granddaughter or if I’m really blessed my great granddaughter 😊❤
This guy is 100% pure gold himself for the act of sharing the must know information with the public concerning buy/selling ,pricing, value of gold and gold jewelry items & products etc. Standing ovation for him because of the information he has freely given out! Any where or anyone else you would definitely have to pay for it! His act of sharing is caring is priceless!
Awwww Thank you for the wonderful comment👍
YEAH YOU BEEN GETTING RIPOFF UFFF FOR THE YEARS IN THE U.S CAUSE WHAT IS THE COST OF GOLD IN COLOMBIA PANAMA AND LATIN COUNTRY THEY WAY OVER PRICED WE PAY LETS SAY 100 FOR 10KT RING YOU WILL PAY THE TRIPLE.
Seanmacattram
@@ricardohenriquez1395 I do believe, and correct me if I'm wrong, that the price of gold anywhere in the world is the exact same price. If Cuban price of gold is higher, then you made more money selling it to the Cubans. I just don't get your point?
@Unknown G shotta just currency exchange rates right?
Selfless honest and kind = rare ,we do actually have these people here in the world; Easier to find cheaters,scammers and haters.
Thank you Roy
Thank you for watching and your kind comment.👍
is it tho? really? ask urself. whats he to gain from divulging the secrets of his trade? how much of it is altruism and how much of it is for views/monetization/subs do u think?
@@elm4nsuri Your Judgements are from a place bias my friend. What's your viewpoint is what your motivation/actions are as what you'd do in his shoes. Your not open minded to really read or feel his Energies. I read people just I read your Energies now behind your commentary. Pretty much Verbatim Right? Honestly "YES!" He is retired his simple backdrop his wording is in layman's terms detailed very concise. Think before reacting sir the world & yourself will be better for it...
@@RKTreasureCenter Now understand why my insurance agent told me to get my wifes jewelry appraised before having it insured. I had a very rude awakening when they evaluated my watches..VERY subjective..😒
Boy ain't that the truth, thieves, liars everywhere
i am never buying ANY jewelry the same way again! dude, you just gave us THE game!
😁👍
This guy is 99.9% gold! Sincere and honest content. We need more of this on TH-cam. Thanks!!
I appreciate your comment. Thanks for watching.
Best comment. 👍
Information bandwidth is really low. Gold guide for low IQ hamsters. Rotating same obvious things over and over.
💯
I’m not aa math person...but ratio and proportion is what you’re doing, and it’s mean x extremes...easier to see if you label it in the equation!
Investors are drawn to gold for several reasons: its long-standing history as a store of value and medium of exchange, its effectiveness as a hedge against inflation or currency devaluation, and its scarcity compared to other commodities. Gold also provides diversification benefits, as it typically has a low correlation with traditional assets like stocks and bonds. However, it's important to recognize that investing in gold carries certain risks and may not suit every investor. It’s essential to assess your financial objectives, risk tolerance, and overall financial situation before making any decisions.
Personally, I find gold to be a solid investment and plan to keep increasing my holdings to recover past losses. While silver, equities, and digital assets also offer good opportunities, my collectibles don’t play the same role in my strategy. Defining clear investment goals and educating yourself about your chosen investment types is crucial for long-term success.
Yes, gold is an excellent investment and a strong hedge against the declining value of the dollar. I’ve held a position for some time, and I’m especially thankful for my advisor’s rapid adjustments in response to market shifts-without that, my losses could have been substantial.
I'm new to all of this. Where can I find a fiduciary advisor? Do you have any recommendations?
Rebecca Lynne Buie has consistently been my top recommendation. She’s widely recognized for her expertise in financial markets and has a strong track record. I highly recommend her.
Thank you for the recommendation. I looked her up, sent her an email, and I'm hoping to hear back soon!
I already know about gold, but I just want to say, as a gold enthuisat, That I 100% thoroughly love and enjoyed this video. I support this man's hard work & efforts to teach the common consumer
Awesome....thank you😁👍
Did anyone know that goal is a rare Element because it can only be produced during one event, and that event is a supernova explosion when the sun has exhausted all of his hydrogen begins burning heavier elements until it runs out of any elements to burn and the force of gravity is so intense that it compresses the star down to its core and a massive explosion occurs doing this massive explosion the intense pressure of gravity causes all of these elements to be spewed out into the Galaxy are nickel copper Platinum uranium and of course gold. Man has been able to reproduce gold in the laboratory however it is extremely expensive and not cost-effective when you are modifying the atomic nuclei of an atom in order to get the appropriate atomic number for gold. I won't go into the details of atomic mass and atomic weight but that's the whole point it's all about the proton neutron electron configuration of an atom which determines what element and material will be. So just what I said gold is extremely rare and that's why it has such value it's a beautiful metal and it can only be created in the heart of a dying star.
@@gordendavis3585 and that’s why it’s called gods currency
My parents were into gold and diamonds. I used to hang out in jewelry shops in Hong Kong, Vientiane, Bangkok, Beirut and Amsterdam. Mom and dad used to have custom pieces made, nothing less than 18 karats but, not more than 22 karats. Though we have a piece of hand woven silk with about a 30cm x 1 miter of 24 karat beads: each of the thousands about twice the size of a grain of rice. All this sold off years ago, dad having passed a lot 21 years ago. I know quite a bit about hold and diamonds, as well as the quality and value if prescious stones. With all this said, I never had a better class or seen a better video on the value and quality on gold jewelry and metal than this one. You get an A+++ or, if if it was compared to the very finest of gold, you would be 99.999 pure! I don't consider owning anything with gold in it if it is less than 18 karats. Excellent video! Bravo! Thank you very much for this.
Thank you for your comment and for the information👍
Roy, u r worth 1000x ur weight in GOLD for the knowledge u shared in this video. I grabbed a notebook n backed up several times to correct my messy note taking & caught little comments (missed due to noise (dog barking, interruptions, etc.) Jewels that I would have missed!! Thank you for the wealth of Wisdom shared.
Just remember that if your gold is a designer piece or has real gemstones. An auction or antiques dealer would probably be a better option than a gold shop.
True 👍
Thank you for taking all this time to explain so many details. Great job.
this videos so wholesome that my heart grew by 58.3%
Lol....love it. 😁👍
@@RKTreasureCenter so $70.94nz per 1 gram of 14 k at $3,790.85nz spot as of 10.22 pm 15 of June 2024?
Pawnshop will usually sell 3Xs what it’s worth. So if they’re offering you $100 for a gold piece that means that they need to sell it for around $300. Stay away from pawnshops to sell any gold piece. But if you need a quick loan that’s a good place. Loans only.
So true👍
My dad used to own a pawn/buy&sell here in las vegas and he told me that for gold they wouldnt pay more then 35-40% of what the item was actually worth.but he always would start with a 30% offer and work up to 40.its a greedy business
SkyeLee what if you sell fake jewelry?? Will they still buy it for 100??
Sometimes 6 times!
I listened to this at 1.5X speed and 1) LMAO 2) had my mind blown by how much this dude knows. Favorited, for sure! I learned so much - THANKS!!
Awesome Thank You! (replied at 1.5 speed....lol😀👍)
Try .50 speed. Bro sounds like Otis Campbell! Drunk as a skunk! 😂
Katie 😊
Yh I'll speed it up too
Knowing the worth of gold jewelry (the metal price) is easy.
1. First you weigh it, so you know the weight of the jewelry.
2. The next you do is to find out how many karat your piece of jewelry is.
- 24 karat is th same as 999 / 1000 of gold (since Gold is a soft material, you rarely make jewelry in pure gold. The jewelry is stamped with 999.
- 22 karat is 916 / 1000. The jewelry is stamped with 916
- 20 karat is 833 / 1000. The jewelry is stamped with 833
- 18 karat is 750 / 1000. The jewelry is stamped with 750
- 14 karat is 585 / 1000. The jewelry is stamped with 585
- 10 karat is 417 / 1000. The jewelry is stamped with 417
- 9 karat is 375 / 1000. The jewelry is stamped with 375
- 8 karat is 333 / 1000. The jewelry is stamped with 333
The y /x notation stands for parts of gold pr 1000.
Let us say you have a jewelry weighting 25 grams, and it is stamped with 585 (or 14 karat).
You then divide 25 with 1000. Then you multiply that number with 585. That gives you 14,625, which means your piece of jewelry has 14,63 grams of pure gold.
3. The next you need to find is the raw material price of gold. This price fluctates day by day. Gold is bought and sold in troy ounces, which equals 31.1035 grams. The gold price when I write this comment is 1820.60 USD.
4. The next part is to find out what this metal price equals to for your jewelry. If we take 1820.60 and divide that by 31.1035 that gives us a price pr gram of 58.5 USD. Then you multiply this price again with the amount of grams of pure gold your jewelry contains. In our example this will be 58,5 x 14.63 = 855,89 USD.
The example above is what the gold in the jewelry is worth if you just melt it down and sell it. But the jewelry itself can have elements with it that increase its worth above the actual gold price. It can contain diamonds or other stones, and it can be an extraordinary piece in itself.
Pawn shops will never give you what the jewelry is worth, and they will grossly underbid its actual price because they want to profit from the deal as well. So if you are not in a hurry, you will probably get a much better price by selling it through other channels.
Very good comment. 👍
Thank you for this information. What spots besides pawn shops and jewelry stores is the best recommended to go to to Sell jewelry?
@@marksoprano007 : ... and as a side comment. When I wrote my original comment the gold was priced to 1820 USD for one troy ounce. Now the gold price is 2716 USD for a troy ounce. It is important to know what your gold is worth ... and then research where you can get the best deal if you decide to sell your gold. Cheers.
@@makingwaves1239 very well said, yes, I completely agree. I do know what my gold is worth in grams and current market value. I think the only problem I’m having is where to go. I see some mail in places that guarantee 90 to 98% of current spot, price of gold, but I’m a little bit leery about shipping to them. I’m trying to look around, but I don’t think a small little jewelry shop will give close to 90-98% range.
@@marksoprano007 : If you are not in need for the money, I wouldn't rush it. You can try to take some nice pictures of your jewelry and try some of the online market places and see if someone values the piece itself as something they will pay extra for. You can do some research to see what similar jewelry has as their asking price. Ideally you should be able to sell your gold close to or even above current raw material price. Just remember to be careful with payment/delivery since there are a lot of scammers out there and some of their methods are quite sophisticated.
Where I live in the world I also see a lot of those "mail us your gold today, and we'll pay you cash in 24 hours" type of companies. Usually they rip of old grandmothers that has some jewelry in their night stand drawer and that have no clue what their gold is actually worth.
If you don't need to sell, you could even think about keeping it. In the inflationary world we are living in today, the prices of about anything will just continue rising. Back in 2004 you paid 410 USD for a troy ounce of gold. When the same troy ounce is priced over 2700 USD today, it is obvious that the dollar (and every other currency in the world) lose their value gradually over time.
Anyways ... regardless of what you end up with as your choice, I just hope it works out for you. Cheers 🙂
I’m so confused now, I’m going to take a nap and watch this again when I wake up, but only after I throw up for giving away the gemstones when I sold almost all my gold jewelry!
Oh don't think bad. Many gemstones are not worth a ton of money unless the were large and or near flawless. Many people dont know, so you're not alone. This is why I made the video. Thanks for watching!👍
@Sarah Renfrow: yes I learned that lesson the hard way too!
I was fortunate to find a very sympathetic jeweller who ""pulled my coat tail"" the same as ROY.
He told me to ALWAYS remove the gemstones before selling the gold, especially if the gemstones are genuine and worth some money. You'd be surprised and appalled at how some pawnshops get thousands of dollars when they've given you only a couple of hundred dollars for your jewelry.
Much like ROY here, he was a modest man and not a RIP-OFF ARTIST as so many pawn shops are. Good luck next time!
Most stones are really worthless to begin with so don't worry to much. Same as the gold. You paid the retailer mark up
I sold a couple of gold rings to the pawn shop that I bought off the streets...Dang!!!!
U r very honest person. God bless u.
Pro tip for you old timers, take a picture of the marking with your smart phone, than zoom in, better than 99% of the loops on the market.
Great Tip!😁👍
Or farsighted
Macro
I'm 17 could u explain
Hey great tip,BUT you don't need to be old to have problems with your vision. 🤓🧐
I learned these things over a 5 year period.It's exactly right,and it will be worth 1000's to listen to what this man tells you.Good info,not difficult to learn.
Thank you Kelesy 😁👍
Thanks dear .. the fact that you share this knowledge for free, shows what a golden heart you have!
Thank you for your comment. It's very much appreciated. 👍
Gold is a currency. It is still by all evidence a premier currency, where no fiat currency including the dollar at it current state can match it.
I agree with you. It sure is and having watched this video thoroughly alongside considering the recent dip, I know for fact it's time to buy more. Excellent video for new stackers. I've been stacking for a while & learned from mistakes. Best suggestion I could give is to become familiar with the fundamentals and ask professionals for their opinion or better still earn passively and learn at your pace. Avoid getting in over your head
@@joecaruso06 Most people don’t plan to fail they fail to plan........
@joecaruso06 Yes I concur. The prominence of institutional or basic financial education and managers cannot be overstated. Markets are oceans not lakes. Take myself, having encountered my fair share of bad trades, I was able to realize how timing, capital, entry and a lot more are essential. Now, I have a $122k portfolio averaging a 12% monthly roi in less than a year following - Yvonne Annette Lively's guide so I do know the importance of basic knowledge and delegation.
@@Gregfreemann The Morgan Stanley investment advisor, Yvonne Annette Lively? Tate was with her on a JustFin podcast, right?
@@tommyfisher277 Just looked her up. Records are detailed but wouldn’t she sorta pricy for 12% m-roi?
I'm British🇬🇧🇬🇧 I own 9ct Gold here I love your video, I do have to say iv even had 9ct jewellery handed down 3 or 4 life times it does not tarnish Quickly quite the opposite robust & sturdy no less.. I only have 24ct small bullion.. Alot of my Indian 🇳🇪 friends own alot of 24ct jewellery and it's forever breaking Bending, snapping beacuse of the high purity being softer
Hello British...Yes, 24k jewelry is nice and expensive, but makes for lousy sustainable jewelry. Thanks for watching and sharing. 👍
Also when I buy diamond rings I only buy GIA certificate if it's from a store with all the paperwork u get a good £800 to £900 on a £1300
Ya what fools people can be buying pure gold 😂
Indian jewelry is majority 22K
Alot of Asian people in the uk own gold jewellery for the value. Not for wearing out .
Thank you for this wonderfully informative video. I grew up in Asia and 24k gold was the only gold I knew. My parents have always told me to treat 24k gold as money. They sneer at any gold that’s is less than 24k. When I came to the U.S, I realize how popular 14k is in jewelry. I prefer wearing 14k because it retains its shape unlike soft 24k jewelry. After watching your video, I have learned that next time I go to estate sales, I will buy solid gold jewelry pieces without embellishments because pawn shops won’t give me much or anything for the stone. I also need to buy a scale so I can find out the value of my existing gold pieces, especially 24k ones that my relatives gave me as wedding presents. Thank you for sharing your knowledge!!! 🥰
Glad you watched and if you sell your 24k jewelry....get the maximum amount. 😁👍
24K gold doesn't wear well. If you wear it as jewelry alloys hold up better. Also industrial standard is+/- 0.5 k of the marked quality. Guess what side of the marked fineness you get when you buy jewelry.
@Donald, in China we care only about 24k gold, nobody wants jewelry that is less than 24k..
Jewelry are status symbols, so wearing cheap gold doesn't work, it's also very easy to spot when something is less than 24k.. So people don't like to wear it... If you're going to show off, wear the real stuff....
Almost no jewelry is made if 24k
@@joelspaulding5964 in China, almost all jewelry is made of 24k gold.
Everyone that buys an engagement ring or wedding ring
Should watch this before they buy
Glad you watched and commented👍
Just buy silver bands and be done with it.
@@anorsegoddess9797 i guess you like paying more than something is worth.
It won't make any difference, the price will be the same. Jewelers are in business to make a profit. Commonly jewelers sell at "triple key" or three times their cost.
@@youtubecertified4643 What a piece is "worth" is what it will sell for to a willing buyer. There are basically five legitimate values for the same item. It depends on WHERE it's sold, WHEN it's sold, etc.
The answer on the value of jewelry when you’re trying to sell it is always........practical nothing, it’s only valuable when you’re purchasing it
That's so true...😁
Is watch consirdered a Jewlery?
@@asanijahbarriwentgordon1374 yes it is.
@@RKTreasureCenter watches can Apreciate . Rolex , patek or AP factory .
Not totally true. It depends on the piece, a well made heavy piece will sell for way more than crap from zelle
There's a reason jewelry stores will take 10% down, and 0% interest for jewelry without a credit check. At 10%, you've already paid their cost.
So true👍
If you are just looking for raw material. ...... wait. Does that mean I’m undercharging?
Retail jewelry markup is generally 3x key.
The best value of gold jewelry is generally a gold chain, especially the heavier ones. Mark-up on other pieces is astronomical. You are paying for less common designs and, of couse the maker/designer has to make a buck and then the retailer is gonna bump up the price handsomely as well.
The old tricks of the 20th Century are dead pretty much. Let's put it this way, they're either dead outright or dying a slow death. Knowledge of how things are done are all coming out into the open.
there's lots of youtuber outside sharing information but i can tell he's a genuinely nice just from watching this 1 video. subscribed
I appreciate you comment. Thanks for watching 👍
An honest man earning an honest living and educating others. Good guy!
Thank you Will. I hope to keep educating the best I can.👍
The gold buyer or pawn shop, will almost always, also deduct the stone weight, or their approximation of same, from the overall weight of the piece, unfortunately reducing the offer they make on your gold jewelry. In my humble opinion, it's always best to remove any stones yourself if able, prior to selling gold jewelry for scrap prices. If you are unable to do so, ask them if they would mind doing it for you. Often they will, unless the stones are quite small, or pose too much difficulty to remove. If you have an antique, or substantial piece beset with good size diamonds or other non simulated gemstones, it may be worth your while to stop by a shop or jeweler, that deals in estate jewelry. They may be willing to give you a much better price based more on antique, maker or stone value, than precious metal weight alone. As you noted, with genuine, large, precious and semi precious stones, gemological identification and grading is a must for optimal sell price. Good, informative video. Thanks for sharing.
This is a very good comment A+. 😁👍
I was going to ask exactly the same question, as I saw the measured weight was for gold ring plus stone.
A
* a CARAT
GlO GlOR GOlD
Hello how many gold have scarp gold from components, computers, people buying that for cheap price per gold bar its a crap,or scam?
@@rubik887 it takes a ton of computer components and a lot of work to get a little gold.
Here’s a lil info that might help you all. 😉 you can also use a magnet 🧲 to see what type of metal you have. If the magnet pick up your jewelry then you know for sure 💯 it’s ....... suspense 😝 it’s not Gold! So if it picks up your jewelry etc then it’s not gold material.hope this helps you all. When buying jewelry have a magnet great lil tool If ur at a garage sale etc.
Good comment thanks for watching👍
Exactly right luv!
Same with silver
Gold is not magnetic. ... Because solid gold jewelry is made from alloys that contain small amounts of alternate metals, your jewelry may still respond to magnetic pull. With items made of silver, but when they plate with the rhodium to stop tarnishing, they use a metal (can't remember what) in a thin layer to bind the rhodium to the silver which is magnetic.
If a magnet picks up the jewelry, it means it has IRON in it.
You never want IRON in your jewelry.
I have an older family friend who I would sell gold and silver too every now and again, he has no kids and about 3 years ago brought me in and taught me how to REALLY buy and sell jewelry.
Sounds like he was a good friend. 👍
I found an old wedding/engagement ring at an out of the way Antique store. The owner sold it to me for $40.00. (Business was slow and she needed the cash.) After cleaning and refreshing the ring, I noticed small print on the inside of its band. I took it to the jeweler to get a quote of its true value. Lets just say, I had to get the ring insured due to the high value of the diamond(s) setting abd high metal/gold value! (The jeweler even offered to buy it from me! I declined.) Today, I have a beautiful ring that I now wear as my wedding ring that could be the most expensive item I own next to my house and my car! BTW, I keep an open eye at thrift and antique store.
Awesome, thanks for sharing!👍
Good for you sweetheart !!!! God bless you always 🙏 and congratulations on the beautiful ring you found ❤ this gift is far from few, is it not so impossible to find ??? Keep your eyes peeled people 👀 you just never know...
Why u lying 🤣
@@MikeMike-nf1jy ...man u stupid, why she has to prove anything to you "gatekeeper of nothing"? Ha ha...wow...she shared an experience, stop being a miserable misanthrope.
@@dacommish23 You took shit the wrong Way, You think your ass is kooool. Hell NAW Get A Life
I hit the like bottom when he started talking about: take your favorite beverage...how thoughtful. Grabbed it and now gonna watch
So cool👍
Pretty good explanation of how to calculate gold value. Generally you should expect 50% to 75% of the actual value from a buyer or pawn shop. 80 to 90 percent of the jewelry taken in are scrapped and sold to a refiner at around 90% leaving the pawn broker or buyer a small profit of 20% or so.
Very true. Thanks for watching commenting and sharing.👍
So rings with real diamonds, like the ones in this video, would be good for full value then? As the buyer may also profit well from the diamond.
@@tomiadventures In ref to your question about diamonds. A diamond buyer will currently pay $85 to $110 a carat for clean mille. There is not much of a market for used diamonds between .20 ct and .45 ct. There is a market for diamonds at .5 ct on up. The real market for diamonds is 1ct above for clean, well cut, colorless, round brilliant diamonds.
100% is scrapped unless you are dealing with a pawn shop, who invariable scrap most of it. The weight isn't a great indicator of value since so much is rolled gold or hollow (plus full of crud) and many alloys are bad.
You can reuse decent metal easily and if you buy a piece that is hand made odds are it's excellent metal, good as bought metal. The good stuff doesn't et melted down so much though... learn about that if you want to understand the value end of the trade.
If a buyer pays 80% he's not getting 20% profit. He'll walk away with 5% unless it's a huge business taking in $100k a day. The pieces need to be dismantles, stones taken out and the refining process is complicated with about 10% loss.
God I hope nobody who watches this video walks into my store. I'll offer them less just because of the time wasted and potential for losing money.
A gold buyer bought a shop from me and I worked next door for a year and helped strip down his stuff. I reckon someone tried to scam him once a day. They need $500k work of tech just to keep on top!
@@PlatinumRatio There is profit to be made. The small things make a difference in the profit and loss columb. The little crappy tiny stones are worth about $90.00 a ct as scrap. Your better items you will want to retail to your customers or wholesale to a jewler. You should make double key on those. Chains are a good seller. A good refiner will give you a 98% of melt value. You do lose metal in the refining process, 14K gold scrap is usually closer to 12K and 10K is closer to 8K, You have to really check your stuff coming in carefully to avoid Gold Filled, Electroplate and gas staion gold. Any item coming in that has been sized has to be counted at a lower weigth since the solder is a lower Karat weight than jewelry out. On chains you have to discount the appx weight of the latches. I also sell scrap to customers without refining at Spot Plus. Instead of getting money for metal, I usualy trade it for gold or silver bullion which I sell direct to customers. You just have to think a bit outside the box to make a greater rate of return.
“Let me tell you a little about my background”
Wrinkled sheet 😂
Lol 😁
And yet. 4 years. 3million views. 114k likes!
Wrinkled sheet for the win!!!
"Why don't people know the value of their jewelry, well the reason is, they just don't know"
Thanks for that brilliant answer.
Thank you. Glad you watched.😁👍
Maybe I wont feel like such a dumbass when I walk into a pawn shop. I feel like the playing field has been leveled a bit.
Thank you, Sir!
Thank you for watching😁👍
@@RKTreasureCenter
THANK YOU VERY MUCH💯💯💯
You already made the mistake by walking into a pawn shop or jewelry store to sell your stuff lol
@@alienvampirebusterswhoyoug8257 Exactly.
@@alienvampirebusterswhoyoug8257 what’s a good
Place to sell ?
Haha! I should have been doing my job of saving the world but I had to put the brakes on everything just to watch your video! You sir have mad teaching skills! Society needs more teachers like you!
I truly appreciate you comment. Thank you.😁👍
Ole Roy is a good one, I watched this video 13 times while checking all our gold.
Hope you have some good pieces. Thanks for watching 👍
A magnet is a great tool for separating base metal jewelry from silver and gold. I learned this years ago.
😁👍
My parents and I have been going to the same gold store since I was 8 years old, I’m 31 now, my parents taught me to always buy heavy gold pieces, Miami Cuban bracelets, chains , with NO diamonds, and to this day I have my 100 gram 10k Cuban bracelet, I bought it for 3 grand, now it’s worth 5500, my parent’s always said, “you never know when you’re gonna need money, in a bind” people who buy big hollow pieces, it’s just paper weight, they’ll laugh you out the pawn shop, I became friends with the manager of KAY jewelry store, he told me he would sell my bracelet at his store for 13 grand, he showed me one of his stores bracelets, it must of weighed 45-60 grams, I asked him how much is the price, he said $7500, I asked him how much does it weigh? , he said “oh we don’t weigh our stuff” I told him, “how do you come up with the price?” He said people in higher command decide, and everything is 10k gold unless you ask for 14k, he said that’s how they can afford to do Valentine’s Day specials and Christmas 40-60% off, cause either way they have prices so high they make profit and need 3 months store rent ,
Interesting story...Thank you for sharing 😁👍
I'd rather buy bullion.. Bars and coins.. Why stack jewelry? The mark up is insane on jewelry.. It can't compete with bullion.. You sound like you collect jewelry as some form of savings and don't know bullion exist..
9999 bullion gold or silver much cheaper than any necklace or bracelet of the same weight..
I looked at Cuban chains.. Calculated the value according to weight.. 6 ounce silver chain was $600...
I can get 20 ounces of pure 999 silver for $600... That's two 10 ounce bars..
Gold works the same way..
Great question! I'm a gold enthusiast myself, but I appreciate the beauty of fine jewellery. Here's my take: You can wear and enjoy jewellery, but bullion is primarily for investment. With gold prices having nearly doubled in the past decade, and jewellers typically marking up their pieces by 20-35%, you could potentially buy a £1000 chain now, and even if it takes 5 years to regain its purchase price in the resale market, you've still had the pleasure of wearing it during that time.
In a pinch you could also use your smart phone’s camera to magnify the tiny markings on the jewelry... most smartphones have a built in “macro” lens/mode for taking close up photos. You can either hold the phone camera over the markings & read the markings from your screen... or if it’s difficult to hold the camera steady, instead take a quick photo and then use the two finger screen spread/ pinch to zoom in/ out on the photo you took to magnify the markings.
Very true. Good info👍
Hello sir , from all the 2 days of searching around due to I found a ring on the floor with very little bit of markings and all the testing and pointers you have given me within a matter of 20 minutes I’ve learned in total lifetime. Thank you so much and keep those videos coming because the more you teach the more I learn and the richer I get thank you.
Thank you for watching and the wonderful comment. 😁👍
This video is a gem itself! Thank you for the lesson.
So glad you enjoyed it 😁👍
This vieo is worth Gold.Thank you Roy.
I own a 30g 18 k gold necklace that I purchased in Italy back in 1989. Using the provided calculations, I determined that the gold value of the necklace to be $1332 at today's gold spot of $1841. And here I thought the value was around $50. Thank you for the education. Now how much the pawn shop will offer is a totally different subject. Thinking 50% of value at best.
Try different places and take as much as you can get, or sell it online yourself.
If you're just looking to get rid of it for a better price than a pawn shop will offer, look at coin dealers. Those guys will usually pay around 70-80% of spot, whereas pawn shops are like 30%. Plus it's super easy, you just bring it in and they test it and weigh it, and pay you cash.
You can check silver gold bull, a bullion dealer which publishes current market prices by the gram. You can select your country’s currency to get the gram price. Then multiple it by your chains weight once converted into the proper weight.
@@FishyFun57
I'm in the UK so that's useful thanks.
@@ABeautifulMine
Fabulous info thanks.
math correction around 13 min 25 sec when calculating karat value from a 3 number stamp (625 = 62.5%) : 625 divided by 1000, then multiplied by 24 = karat value. So, (625/1000)*24 = 0.625 * 24 = 15 karat. Awesome video, the most precious video on TH-cam! lol Thank you RK, you ROCK! Price of gold today hovers around $2750 a troy ounce (Oct 2024). Cheers!
@@AV4U2 Thank you. So glad you watched. I appreciate your comment. 😁👍
I have been guying gold and silver for years from garage sales , thirft stores.... About 8years ago went to a thrift store and bought a lapis lazuli antique braclet for $20. I believe the thrift store tought is was silver .925, however i had my jewelers loupe and it was actually stamped .950 platinum! and the lapis was the really nice old dark blue with the gold pyrite flecks. Wife loves it!
That’s a great find! 👍
Great video! This guy is doing what would take most years to learn if they’re starting from scratch. Not a lot of people would take the time to teach people this kind of thing.
Thank you. 👍
Great sense of humour. Great teaching skills. Great content. Greetings from Poland 🇵🇱
Thank you for watching!😁👍
One of the best lessons of beneficial knowledge I've seen in a while ; interesting and looking forward to watching more related videos.
Thank you Anthony for watching and leaving a comment.😁👍
This has brought back terrible memories of math's class! I was hopelessly lost halfway through,
Oh too bad.. thanks for watching and commenting.
The man is so honest. The first time I enjoyed a video. He explained it so well
Awesome Comment! Thanks for watching and the kind words👍
I’m giving you a thumbs up just for showing the periodic table for gold!
@@FlagPony 😁👍
This guy has a heart of GOLD.
Thankyou so much for sharing such valuable piece of information.
Thank you very much.👍
Oh thanks so much man you really gave us great and important information! God bless You for this a big thanks from me here in Holland!
So nice of you. Thank you so much for your comment and for watching my video.
This was a VERY informative video.
So much information that it confused me many times.
Fortunately, I just replayed that part.
It does a great job teaching us about GOLD.
Awesome glad you watched George😁👍
I work at a gold refinery and this is a great video because it breaks everything down in the simplest of terms. The only correction I would make is saying that, for instance the 10k would be worth idk $92 right? A pawn shop would see that it's worth $92 and they would only offer you maybe half of that, and that's if they thought they couldn't get over on you. If you're a sucker, or an addict looking for a quick buck, they would probably offer you $35!! Don't for a second think that trying to bluff them with the old, I'll take it to Joe's Pawn Shop down the street will work either lol....they already know Joe's will pay you $34 and in that moment you're gonna feel a knot in your stomach because you just realized that what you are holding only has value to the people that make the jewelry! As he has stated a couple times already, you paid $4,000 a couple years ago, so you think you should be able to get at least $3,000 for it right? I mean it makes sense doesn't it!! Well, it makes sense to the people who make the jewelry, I mean it costs money to make the rings but the math you should be wondering is how much of a profit I could make, after all the costs, from having a $90 lump of gold and turning it into a ring and selling it for $5,999.99 lol. Diamonds are just as much of a loss as gold is too lol....unless it is certified, has a serial number in it and weighs more than .5 carat. I wasn't aware of any of this until I got into the business either, it's just not common knowledge and it really should be because it's damn near a part of everyone's daily routine when you think about it. A watch, a wedding ring, earrings, a necklace, we wear them everyday and it's such a routine it's not something we tend to over think on. But we spend so much money on this stuff and it has only gotten worse with rappers and celebrities making it a center piece of what they've achieved and it has become a statement that says I've made it!! But the only thing you've made it a GIGANTIC error in spending and a whole bunch of rich people richer 🤣🤣🤣🤣
Thank you for sharing such a great story of your experiences with plenty for others to read and enjoy. I agree with you.
Jewelry is a racket. Total rip off. I have a 1oz gold buffalo. It’s 9.999 fine gold, or 24k. It’s worth the spot price of gold. So if I buy a gold chain that is far less in karat weight to it, it should be cheaper than or at cost of the gold. The money you make is the karat weight you skimmed making it 18 or 14k with the chain. So basically jewelers are scum bag thieves.
Thank you for the information!
Agree. I inherited a luxury watch. It had bern bought for $4,000. I wanted to sell it and the guy said possibly $1,300.
Forget it. I'll be buried with it before I let it go for that.
@@thetapheonix Agree. I had no idea what an obscene racket it is until my jewelry was insulted by a dealer who called it SCRAP and offered me $4 for a sterling silver necklace.
truly informative, been selling gold for awhile. I'd like to find a buyer who pays 'spot' the best we've seen is @75% or just a little higher. My greatest revelation was how little diamonds are actually worth, our buyer routinely sells 1 oz bags of small cut diamonds for 80 bucks!
Thanks for sharing. I sell on ebay and get spot value of gold 99% of the time. 👍
Omg the way you described the percentage equation almost gave me an aneurysm but it is really simple! Perfect!
@@storm5130 😁 👍 thanks for your awesome comment.
Watched A LOT of TH-cam videos over the years, but this is A FIRST. A BED SHEET, NOT EVEN IRONED, FOR A BACKDROP.
I know...it was an impromptu video...😁👍
I love it. Brings a sense of timelessness and added value. As if my dad or gpa was giving me advice instead of a TH-cam phenom that’s just trying to upsell to a book or something. I wished all 60-90 year olds would make videos like this with good solid advice. I keep telling my mom to make seamstress and my dad carpenter videos.
@@Usatorok that would be so awesome!
Low budget, man.
This is an excellent video! Straight forward, to the point and easy to understand! Could you do one on silver as well? That would be great!
Yes a silver video is in the works.
I’m only half way through this video right now and I’m mesmerized! Thank you so much for sharing your knowledge.
Thank you Cindy😁👍
Thanks for this info all in video.
Thank you for the (Super Thanks) support and for watching 👍
The first rule. Know Gold.. Gold is real money.. Thanks for the info..
Thanks for watching and commenting👍
I had no idea! Learned a lot about gold watching this, Roy! Thanks for sharing your knowledge. Take care!
I'm glad the video was informative enough that you enjoyed it.😁👍
Hello dear how are you doing?
I recently purchased the standard acid testing kit and before using it I figured I would go on TH-cam to see if there are any tips and I came across your video.
I own and operate my own business and it's clear that you take pride in what you do and are very truthful and for that I think you. I am literally 2 minutes into the video while making this comment and I can see that you are genuine and honest.
I will watch the rest of the video but I wanted to take this time to thank you.
James I truly appreciate your comment. I hope you enjoy the video and it provides some good knowledge and information for you. Thank you for watching and hope all goes well for you in life.😁👍
For a beginner in this area I suggest you buy a jewelry scale. You can get one that will weigh from 0 to 100 grams to an accuracy of +/- 0.01 grams for less than £10. Maybe even cheaper where you live.
Great suggestion. 👍
This video literally is like GOLD itself, 🤔💪💪🤯
Thank you for your comment👍
I so agree 👍
Great video thank you for educating us
😂😂😂😂😂😂👌🏾
Word
One hallmark you forgot to mention is GF (gold filled). It has more gold in it than GP and a bit more that RGP, but it is still not pure gold. And since the gold is thicker, it can show as gold with testing kits.
This is a fantastic video though. Wish I would’ve seen this when I first started buying and selling gold 5 years ago. A lot of learning along the way, and you’ve covered 90% of what I learned along the way.
Thanks for sharing your information, and glad you watched the video.😁👍
@@RKTreasureCenter thank you for sharing this info with everyone. I’ve been watching your other videos as well.
You’ve earned a subscriber. :)
@@uspockdad6429 thank you and hello👍
You can calculate the amount of gold in a GF item. The piece will have a mark - usually 10K20 or 12K20. The 10K or 12K indicates the purity of the gold and the 20 indicates that 1/20th of the weight is karat gold.
1/20th is 5%. If the piece is 12K, then the gold itself is 50%. So the gold content by weight of 12K20 is 50% of 5% or 2.5%. For 10K20, the gold content by weight is 2.1%.
So, say you have 1 Toz of 10K20 GF jewelry and are wondering what the spot value is. If spot is $1600 Toz, then that ounce of GF jewelry contains .021 Toz of pure gold - with a spot value of $33.60. Many buyers, and few refiners, will even accept the GF items - unless possibly it is a very large lot.
9ct gold is very commonly purchased in the UK and it does not tarnish. It's ideal for wedding rings because it doesn't wear down as fast as higher percentages of gold.
This is true.👍
You're better than you thought. I was in the process of refilling my coffee cup when you suggested we pause and get our drinks.
Hmm. This is a video I'll have to study and take notes. Meantime, thank you!
@@aliced7505 Good timing I would say. 👍
You're great! My favorite part is when you wait while we might be pausing the video to refill a drink after only a few minutes. 😂👍
Haha...glad you watched👍
I never knew you could find out the karat’s actual percentage of gold when you divide it by 24. This is such an informative video. 🙏
Thank you for watching and commenting.. 👍
I’m so pleased I found you!!! You are brilliant at explaining it all and a hoot as well. My Gramps taught me about gold, silver and all the gems 💎 ratings, numbers, letters, etc. when I was a wee lass. No, he wasn’t a jeweller. He, along with my Da, invested well. I was investing, through them, by the age of 10. It’s astonishing to me how overpriced jewellery is in shops let alone people pay that price!! If you know the true value, you can spend properly.
Thanks for watching and sharing your comment. 👍
Insider tip: I have found that coin dealers and gold jewelry buyers at numismatic coin shows tend to pay the highest percentages of spot - about 93%to 97%. I think this is due to the fact that at a major coin show gold buyers are all competing with one another on the bourse floor to purchase your gold. When you can just walk ten feet to seek a better offer it’s amazing how close to spot some of these buyers can go!
Good info. 👍 Thanks for sharing.
Thanks 4 breaking that down i learned some good stuff & understood enough
2 know what I'm buying. GOD bless U.
Awesome thanks for watching and commenting👍
Stopped at 3:30 good video for a beginner i feel like this is me telling my friends and family over n over again all the info on precious metals& coins etc..
You got this!
Interesting video and good information. Don’t know which is the worst cheat, the pawn shop not including the stone value or the original store which charges 3,000 percent more than what the gold was worth.
So true. Thanks for watching.👍
Why would they include the stone value?
I am always on the lookout for gold and have had lucky sometimes. One place I have found some pieces of gold necklaces is at our very big used clothes market in Nairobi, Kenya. They mostly are in the handbags at the handbags section. One is allowed to check inside pockets of bags or clothes you may be interested in buying.
Thanks for sharing your good fortune story. Hope you find more.
Let’s be honest. That’s theft lol. They let you look in, but we both know they would not sell it to you if you told him you found gold. So you’re lying to them and taking advantage of their ignorance. Now, if you bought it and found gold, it wouldn’t be stealing if you didn’t come back. But finding the gold and then pretending you didn’t, and then paying for just a bag lol. That’s theft.
@@RKTreasureCenterlol his good fortune story? Sounds like it’s the sellers bad fortune story.
Best channel about gold on youtube for jewelery.
Thank you very much Fred! 😁👍
@@RKTreasureCenter i have a question i want to invest in gold what is the better avenue jewelery or ounce bars ?
@@fredvalencia2205 gold bars are the perfect choice for investing because they are 999 pure gold and maintains a high market value where as jewelry comes in different carats and the value varies depending on wearable or scrap. But jewelry is cheaper and can be melted into bars......my choice for investing is to buy gold bars and rounds from reputable dealers. Thanks for the question.😁👍
If I watch a video & learn something from it, I'm impressed. In this video I learned through the entire 25 minutes (minus the 4 or so second intermission lol) Really great video. Thank you Roy.
Thank you so much.
Hi 👋 welcome masterblayde good life promoiton to the world 🌎 music🤍💝🇯🇲🇯🇲🇯🇲🌄🌄
Thank you for the explanation, you are so generous. And you are hilarious, I enjoy listening to you from beginning to the end of the video. :-)
Thank you ver much😁👍
I'm currently wearing a bracelet that is 24k gold at 55grams, went to 4 different shops they all say it's real, makes me happy 😊
That's awesome. 👍
LOL you have a $3600 gold bracelet , and you needed shops to tell you its real? And why 4 different shops? Why did you need to waste their time like that? Did you steal the bracelet or something? How would you not know how much it’s worth?
@jamesbizs it's not a waste of time, i was shopping for necklace for my fiance and while i was there at those places i had them check it out. I'm not gunna buy a bracelet and then just go to other jewelry stores to have them check it out right after
@jamesbizs now days there are lots of fakes and I'm not a specialist at jewelry, nowdays anything is possible and yes I still have the receipt
I was always curious about Gold jewelry. It is unreal (to me) as of why people spend so much money on jewelry, I don't dig it. That was pretty damn good, thanks
Glad you watched. Thanks for commenting👍
OMG 😲🤯 😣 😫☠🤦♂️ KILL 🔫 ME NO MORE TAKING 😭
To sell?
Capitalism = getting #Screwed T jewelry shops in Malls & outside malls!
See, I really can learn something new every day ....... and that just happens to be that I am poor. But it really was a good info vid !
So glad you watched and enjoyed!👍
You not poor you pure at heart tht just don’t finesse folks it will come if you ask for it then put in the work when it comes 🏁🏁🏁
Oh, btw, wonderful video. Absolutely loved it. I wish you could give some hints about unhallmarked gold. There’s a lot of it around too, as so many people remelt their jewelry. My mother did that constantly. So don’t necessarily throw away unhallmarked pieces!
Good sharable information. Thanks for watching. 👍
I've never seen non-hallmarked jewellery that isn't junk metal and I've seen a lot that is fake... and I've seen 100,000 pieces go through gold buyers. It's a shock to discover how much cheating goes on with cheap sellers and 2nd hand sellers are worse. A lot of shady characters are attracted to easy money, whereas established jewellers will never chance it - not once in their whole career.
Best thing to do is get a jewelry acid testing kit and learn hot to scratch test the gold. I have had some pieces that were stamped 14k that were more like 8k
You are awesome. I mean this in the most respectful and nice way but they way he speaks is like a caring grandfather I never had - thanks for sharing your amazing knowledge with us~!
Too kind. Thanks for watching and commenting 👍
A priceless and golden information selflessly shared to people like us who do not have even the slightest hint of what gold is.
Thank you Roy ❤️
Thank you for watching and for your comment.😁👍
@@RKTreasureCenter
Sir, I want go pawnshop buy gold jewelry then resale at a profit. No one has a video about it. Do you think it would work? What are best pieces to resell chains, rings , earrings ETC?
Really insightful video i must say. Investing in precious metals such as gold and silver is a smart financial decision, in a few years people will be kicking themselves in regret for missing the opportunity of buying and investing in gold.
@@yasminguler3865You are right!!. Considering the continuous devaluation of the usd.. buying and storing gold is the only way out of this tragedy
@@yasminguler3865 How can i get started on investing in gold, i need proper guidance on how to get started.
Where were you when I needed to help my sons learn math?! You should consider making videos for all subjects! You definitely have a gift for teaching!🙂
Awww. Thank you so much😁👍
Thank you for passing on the knowledge and wisdom that took you years to earn. We appreciate you!
That's what I am here for. Passing on my knowledge to better others👍
Roy, I wish you nothing but happiness and success. You have a teacher in your soul. Incredible video.
Thank you. I appreciate your comment and for watching. 😁👍
Thank you so very much for the information!! I happened to come across some beautiful old Gold and stone jewelry ( hidden in a house that my friend and I bought) brought it to the pawn shop and they wanted to buy it and was in a hurry to buy it all for 300.00 !! So I thanked them and felt like there was more to them than trying to help me!!!! So now I will deep into search to sell it myself with out being taken!!! So glad I came across your video!!!
Good luck to you and make a bundle👍
This is a very informative video that all people should watch and share. Especially helpful for resellers and gold buyers!
😀
But you talked to us like we were idiots. Dont get me wrong. I watched it all the way thru. But I felt like you were condescending towards the viewers
@@miscalanoius1842 you are the idiot... idiot 😆
Can do the net value in one formula (24 and 31.1 are constants, multiplied giving 746.4): K * weight_gram * market_price_ounce Divided by 746.4 . The result is more accurate too, actually the value becomes less than in your rounded 4 steps. Example: 10 * 4.32 * 1600 / 746.4 = 90.605 $, yours 92.62 .
@@miscalanoius1842 well not everyone is exceptional at every equation ever lol. You'd be surprised how many cannot follow if it went faster and he automatically assumed everyone knew what he knew already. This denotes that you yourself feel insecure about your mental abilities or have been in the past. Lol i swear some people feel like everything is condescending if it's slower paced and informative. However I think you're overlooking the tone of voice, the context, and the age and gender of the person presenting the information. He's not a teacher, he is only teaching what he knows and how he understands this stuff. I find it to be the best if something is presented this say so you can truly understand everything with little room for a misunderstanding. If you're more secure with yourself and your abilities i think you'll say people are condescending less frequently. I don't know about jewelry metal purity or anything like that. Lol so for me I know he's talking slow and really old-school but i appreciate that, reminds me of my father. 😂 I mean no harm just offering just my 2 cents. Sometimes you'll be right when someone is being condescending, but here I don't think this is appropriate.
I love the way you use humor throughout your explanations! 😂 Thank you for sharing this info. I know a lot of people don't understand most of the things you've mentioned. Including myself of course...lol For example... I had never heard of a "Troy Ounce" before this.
Thanks for watching and commenting.👍
In Portugal, the majority of the pieces of Gold feature 19,2 Kt
The maximum allowed in Jewellery is 22 Kt.
Probably bcz 23 or 24 Kt would render the pieces of Jewellery extremely Soft.
However, Gold bars purchased for investment purposes feature 24 Kt.
I agree with you about the 22k to 24k. 👍
Hello Roy!!! This video is AWESOME AND INFORMATIVE!!! The best I have ever seen about gold jewelry ! Like we used to say back in the 80's "U DA BOMB"! Andrew
Right back at ya....Thanks Andrew you both be safe during this time. 😁👍
Thank you this is the most comprehensive yet understandable video which was organized in a concise manner making the information easy to retain. Thank you!
You're very welcome! Thanks for watching and commenting. 👍
This was really GREAT, I learned a lot. Thank you for explaining in such great detail. The world needs more people like you!!!!
I appreciate you.
Wow, thank you! 😁👍
@@RKTreasureCenter
Thanks for this information, a kind teaching or guide, as we scratch the earth for Gold, how easier can I spot it's location too?
This was the first ever vid on gold i watched..very infomative, accurate and honest.
Thank you. I'm so glad you enjoyed it. 👍
Roy, I wanted to thank you so much for this wonderful video. It was clear & easy to understand. I can now sell some of my gold jewelry with some educated confidence that I won't be ripped off again.
Glad you watched.....thank you.👍
Very educated video thank you for taking the time to teach the commen folk the value of gold .
You are a true educator of precious metals. What a gem of information. Thank you.
So happy you enjoyed watching😁👍
Question for Roy: I really appreciate the education regarding gold value. What should a person do with the gemstones? It sounds as if they are just a gift to a pawnshop since they don't want to pay for it (well, the total weight includes the stone). Should I remove the stones and sell them separately? I see jewelry for sale in pawn shops and I always assumed they want the jewelry intact, but if they're only willing to pay for the gold, why not remove the gems? Any insight you could provide would be appreciated by me, but everyone else would benefit as well.
Thanks for the question. Most gemstones are not worth it to remove unless you have a bunch. If the gem is a precious diamond then I would have it appraised, but only if it is over 1 carat. Otherwise not worth the appraisal fee or removal. Talk to the several jewelry buyers to find out how they pay for diamonds. Some do and some say they do but don't. 👍
@@RKTreasureCenter Thanks so much for your reply. Hope you have a great holiday. I will be catching up on your channel.
@@RKTreasureCenterSame thing I was told by a jewelry store. Unless it’s a K or more. It’s not worth it to them to remove them so they can “resell” them.
I would only have them removed if they are 1 carat or larger. Other than that it's probably not worth it. Talk to whoever you selling the ring to if they pay for the stones. The real truth is diamonds for instance, truly are not rare anymore....they are everywhere and everyone has them. It's all about marketing. Unless they are unique or large there is much resale value.
Sometimes I remove the stones depending what they are sometimes they are not worth the trouble I have found different people that will buy the stones in the 65 plus years I have been buying and I have sold many stones at the various flee markets you will discover different places as time goes on but this video is a very good one to watch he is very informative
Have my great grandmother’s mother ring. It has my grandmother and great aunt’s birthstones (diamond and emerald). Was curious about the value, though I’d never sell it. It’s 12k so thought “oh it’s not worth much at all beyond my sentimental value “. Had no idea it is a discontinued blend. Thank you so much for explaining so honestly and thoroughly. Look forward to passing this piece on to my granddaughter or if I’m really blessed my great granddaughter 😊❤
@@angiebear8727 That's a wonderful ring to pass on. Thanks for watching and sharing your story.
Thank-you Roy, great explanation, i always though a Troy ounce was the same as an ounce. 28 grams makes 1 ounce of weed, I've always known that. :)
Glad you watched!😁👍