Interested in how we test your gold jewelry to determine what it is worth? In this video we explain the different steps we take in finding out the value of your gold or silver jewelry.
Stirling: Sometimes on the actual piece Charlie, you’ll see stamped 18k or 10k or whatever. That’s the clue that you have as the uninitiated civilian that you may have an idea what karat this gold thing is but not even on all pieces even have that stamp do they?
Charlie: That’s precisely right, they don’t all have the stamp. The stamp is, if it’s there you can probably trust it. The problem is though it even if it was there, it’s often rubbed off or you know it’s so small that you can’t really see. We have a little jewelers’ loupe that kind of everyone in the business uses to find those stamps. That’s obviously not the only thing we go with for our testing either. That’s the first step. That’s the best thing for, you know, people if someone asks us you know; What do I expect when I come in? That’s probably the best first step to check their stamps and know what they are expecting. We have all our prices posted online … by.. the prices breakdown by karat so that the more pure your gold is, the higher karat, the more you’re going to to get per gram.
Stirling: So Greg, you’ve been involved well obviously you weren’t there at the beginning but you’ve been brought in now that the business is expanding and as the regional manager here in in the lower mainland and … when people come into the to one of the stores … talk to us about the kind of experience an individual (has) Suppose now, I’m someone who I’ve just described I’ve been doing my (grumbles) spring cleaning and by gosh, I’ve found a big of a nugget here so now all that work may just be worth something so I decide. Listen, I’ve heard this thing on the radio. I’m going to go to Vancouver Gold and see what happens. What will happen when I show up at one of the four stores in metro Vancouver with my newfound largesse, I hope?
Greg: Well the first thing is you wouldn’t have to book an appointment. You just you can gather up whatever it is that you’ve got. Whether you have a sneaking suspicion maybe it’s gold or you know for sure uh… bring it in and we’ll sit down with you and go through the tests with you face to face. We’ll show you all the steps and there are a number of steps. With some items, it’s a little more straightforward than others but basically there’s a few different tests that we would go through it right uh… customer in-store depending on what you’ve got.
Stirling: So Charlie is it just precious gold or are we are talking to other precious metals like silver and is some accommodation for diamonds and jewelry? Or is it just gold because that’s what the company’s called: Vancouver Gold?
Charlie: No, we also buy the main precious metals which are gold, silver, and platinum. We do deal in some Palladium, although we don’t see a lot of that. For the precious stones, the only one we’ve been able to buy is the only one we’ve been able to find real market for and that’s diamonds.
Stirling: So it is popular
Charlie: Exactly, the ones with the real high value there. So we do have a gemologist. She’s a certified gemologist. She’s in our stores a couple days a week. She’s one that has to look at the diamonds as the grading process . Testing for that is basically pretty thorough and in depth to figure out the value of one of those stones, so we buy you know all the precious metals plus diamonds over a quarter karat in size.
Stirling: I was going to ask you about this, and thank you for opening the door. What’s the difference between white gold and I guess, yellow gold for lack of a better way of describing it? What’s the
difference between the two?
Charlie: Yeah, the main difference is the alloy it’s mixed with. So the gold you’re buying as jewelry is almost never a pure gold. If you get 24 karat gold, it’s always yellow, it’s the same color always.
But when you have 10 karat gold as Greg mentioned earlier 41% of that is gold and 58-59% say, is other metals. So if you mix more silver in there, you’re gonna get more white gold colour, so that’s the main difference. What else is in there? 10 karat Yellow gold, 10 karat white gold – to us has the same amount of gold in it was worth the same amount , it might have a little more silver. They sometimes will plate yellow gold to make it appear white and that’s kind of a different situation, you could probably still call that white gold, but that’s a different alloy, a different mix of metals or just a coating to make it white.
Stirling: but pure gold is generally yellow.
Charlie: Yeah, the colour of gold is that yellow gold colour.
Stirling: Okay, right, so I’m curious about that because white gold is certainly popular as a jewelry setting uh…metal isn’t it?
Charlie: Absolutely. Yeah, it kind of goes through cycles. White gold is really popular right now a lot of the old stuff..we do see mostly yellow gold because we are seeing a lot of stuff from the 70s and uh… really old stuff but we do see at all we do buy it all and it’s totally acceptable for us.