hi friends and welcome to RK traders
Center my name is Roy and in this video
I'm gonna teach you all about gold not
the gold bars that you find it's a $9.99
fine and you already know what they're
worth or gold coins that news motifs can
tell you that just by knowing the grade
you can look in a book and find out what
it's worth but I want to teach you about
gold jewelry gold jewelry like this to
be exact and why would you want to know
about gold jewelry like this well do you
know how much this gold jewelry is worth
with a little bit of knowledge I'll be
able to give you the tools and knowledge
to know what this gold is worth just
about by looking at it let me give an
example say you found this ring at a
garage sale flea market estate sale do
you know how much this ring is worth let
me first say I'm not an expert I don't
have a degree in gold but I do know a
lot and let me tell you a little bit
about my background so you understand
when I was young my dad owned a gold
silver shop so I was raised learning all
about gold silver and coins I also
learned that a lot of people don't know
the value of what they have why is that
why don't they know the value of their
jewelry well the reason being is most
people just don't know I would see
somebody coming to a shop with a ring
like this and then tell my dad
they paid $4,000 for at a retail shop
many years ago and they'd like to sell
it because they need the money he would
take it he would look at it say it says
14 karat
say that he tested it and it does test
gold and it has diamonds in it and then
he would take it weigh it and tell him
he'd give them 150 dollars for it
that was very puzzling and perplexing to
them so why is that that was the
question I want to know and so I learned
the answer well in this video I'm gonna
give you several tips and a little bit
of knowledge so you understand how to
appraise your gold jewelry and know
exactly what it's worth especially if
you want to resell it so go grab your
favorite beverage maybe a snack a pen
and paper if you want to take notes and
sit back and relax and enjoy this video
of knowledge that I'm about to share
with you
[Music]
Before we jump in and start talking
about gold I just want to say one more
time welcome to our cave treasure center
my name is Roy if you like videos like
this and you might consider subscribing
and click that middle notification bell
that way you know and videos like this
come out now I've been a reseller
practically all my life I've gone a
garage sale to stay sales free markets
trade shows just about anywhere I can
find out how to flip for a profit I've
owned my own business and I've sold at
flea markets and trade shows and while
I've traveled around I do a lot of
reselling I retired several years ago
and I just couldn't let that reselling
bug go so I've been selling on eBay for
about ten years and still do to this day
and I still find a lot of gold like this
so this video is rather lengthy and it's
important that you don't skip ahead to
try to find what you think is relevant
by the time I'm teaching you everything
you need to know about gold you're gonna
understand why it was important to know
all the things that I've taught in this
video I might teach you what is gold
what's the difference between carat or
carat some simple math to determine the
percentage of gold how to use carats to
determine gold purity different gold
colors and why they look the way they do
what do hallmarks and numbers mean on
your gold jewelry pieces some quick
tests to check if your gold is real or
not and what is my gold worth so what is
gold gold by itself is a naturally
occurring element it is represented by
the chemical symbol au and atomic number
79 on a periodic table gold is the most
valuable of all precious metals which
makes this precious material perfect and
ideal for jewelry making gold is ranked
by carat CA are 80 which means 24 carat
is this most purest form however gold
can be mixed with other materials such
as nickel zinc and copper and sometimes
it can be rhodium plated gold itself is
soft however by combining alloy
materials the composition is
strengthened the desired effect means
the material or the gold will be
stronger and last longer and that's very
desirable for the beholder or the wearer
so now you've got your piece of gold
jewelry and you need to read
markings on the inside but you can't see
them because they're so small or if
you're getting older like me you really
can't see them so we need our glasses
but even with glasses I can't see the
inside of the George to be able to tell
what the markings say so what do I use
do I use a jeweler's loupe like this do
I use magnifying glasses like this or do
I use eye loops like this well it really
doesn't matter no matter what you use as
long as you can read the markings inside
a piece of jewelry me I prefer either
one of these and I use a loop because it
folds up or I use a pocket magnifying
glass because it folds up and I can
stick them on my pocket and that way I
have them whenever I need them so that
brings me to my question what is a carat
or what is a carat and what exactly do
those numbers and letters mean inside a
ring or piece of jewelry
well let me explain k-katie or CT all
mean carat when you look inside your
piece of jewelry you may see numbers and
you may see letters and sometimes you
may even see a three-digit number and so
K or K T means carat and CT which means
carat CT is usually used in Commonwealth
or European countries and a lot of those
European countries will use numbers
instead of 10 carat 12 carat and I'll
explain further later on the term carat
ka ra T refers to the fineness of gold
such as I said tanker at 12 carat 14
carat the term carat CA r80 refers to
weight usually when they're referring to
gemstones but sometimes they can also
refer to gold as well I know it's all a
bit confusing but it's okay to use both
now that we've got carrot and carrot out
of the way what are the numbers a piece
of jewelry mean well the numbers
represent the finest of parts of gold
anyway parts per thousand as I said
before karats is the finest and the
number represents the parts per thousand
so if you look at eight carat gold is
333 parts per thousand or 33.3% pure
gold if you look at 14 carat that's 585
parts per thousand or 58.5% pure and if
you looked at 24 carat well that's 1,000
parts per 1000 it's the purest of gold
which means it's 99.9 percent fine gold
so are you thoroughly confused yet well
hold on to your seats because I'm about
to confuse you some more but I promise
I'll straighten it all out eight and
nine karat gold is not considered gold
in the United States standards eight
nine karat gold is the most minimal
possible Gold there is and it's usually
found in British Commonwealth in
European countries we don't recognize it
in the United States to be sold in the
United States Gold has to be 10 karat
14-karat 18-karat and 24 karat 8 and 9
karat is the lowest possible standard
and it will tarnish very quickly so you
may be asking me Roy didn't you mention
15 carat 15 carat or 625 parts per
thousand which is sixty two point five
percent pure is gold recognized the
United States however its antique gold
and it's not made anymore it was stopped
and discontinued in around 1935 so if
you find a piece of jewelry marked 15
carat or 625 gold well that piece will
hold a little bit more value than just
gold value because it would discontinue
before 1935 and so now you got antique
and gold value and hold on Roy what
about 22 karat gold well if you find a
piece of jewelry mark 22 karat gold that
came from the Middle East or Asia it's
usually very bright yellow and very soft
in other words your best jewelry to find
in the United States is 10 carat
14-karat 18-karat 24 karat and you can
easily find the weight and value of all
those carrots that I mentioned can you
please explain a little easier so we can
all understand okay well let's just jump
right back into it and I'll explain it
even easier alright if you pick up your
gold jewelry and you look at it and
instead of having a hallmark like 10
carat 14-karat 18-karat 24 carat and you
notice three digits
and those three digits may indicate it's
gold but it may also indicate a silver a
good indication that it's silver is of
course the piece of silver not yellow or
gold looking and it has these numbers
these numbers you want to avoid 809 25
or 950 those generally represent silver
if you find those on your jewelry even
if it's yellow color it's not gold it's
silver unless you're into buying silver
so Roy you're telling me the this
necklace right here it's stamped 7 5 0
it's worth more than a necklace marked
925 yes that's right remember I said 9
to 5 is equivalent to silver 7 5 0 is
generally found in European countries or
British Commonwealth countries and 7 5 0
equals seven hundred and fifty parts per
thousand or 75 percent purity which
means it's equal to 18 karat gold and
how do I know that well you're gonna
find out here a second as we start
getting to simple math before we get
into the simple math portion to
determine the value of your gold let's
talk about the hallmarks and numbers you
don't want to find on your gold pieces
let's say you look at your gold jewelry
and for instance it says 10k GP
what is GP mean well many of you
probably already know but in case you
don't you don't want to find certain
hallmarks on there you don't want to
find ep GP h GP or r GP e P means
electroplated GP means gold-plated h GP
means hard gold plate and r GP means
rolled gold plate so if you find those
on your piece of jewelry and this is for
instance 10k GP and what that means is
your piece of jewelry is made of some
other metal material and it's just
plated it's not solid so now would be a
good time to say if you need to pause
the video for a minute go ahead and do
so go ahead and refill your drink and
make sure that you have a pen and paper
handy and if you want to get a
calculator go ahead and get a calculator
I'll wait while you pause the video
oh you're back okay
well now let's get into this simple math
first of all I'm going to tell you when
I start explaining to this simple math
may not be so simple but once you get
the hang of it and you've done a couple
of problems a few times you'll realize
that this math is almost as simple as
two plus two over all this simple math
is going to be relatively easy we're
going to break it down in a couple
equations that'll be easy to understand
but first of all you gotta learn to
carats of your gold and find out how to
use them to measure the purity of your
gold so that way you can take the purity
of your gold and determine the value and
knowing that way you'll know how much
your gold is worth before you can
determine how much your piece of jewelry
is worth you first have to determine
what the carrots are of this piece of
jewelry is and how to use the carrots to
measure the purity of your gold in other
words if you've got a ring that came
from British Commonwealth or a European
country I explained earlier that it will
have three numbers for instance if this
one says seven five zero and I know I
already told you seven five zero equals
eighteen carat but bear with me if this
says seven five zero all you have to do
is drop the zero and you have 75 or 75
percent gold so you already know the
purity of this would be 75 percent so
I'm gonna give you an equation and you
don't have to write this one down I'm
gonna give you another one but I just
want you to listen to this one
and just try to follow along it's gonna
be a little bit confusing one thing I
want you to keep in mind though remember
this one carat is equal to one part of
24 now keep in mind 24 is 24 carat or
pure gold which is 999 fine you can't
get any finer than 999 fine now that
being said picture this ring and it says
22 K so if this said 22 K it'd be 22 K
parts of 24 pure gold or 22 24th so if
you divide 22 by 24 you get 0.9 1 6 if
you move the decimal place over two
places you get ninety one point six
which would be ninety one point six
percent pure gold but if you took point
nine one six and multiply
by 1,000 you'd get 916 or 916 out of
1,000 pure gold or now you got your
number let's just say that it was 625 if
you took 625 and multiplied it by 1,000
and divided by 24 you'd get 15 and what
is 1515 carats wait a minute is that
really confusing or wet when it did I
lose you
okay let's do this really slow and real
easy because we have to find the carats
and measure the carat to find the gold
purity in order to determine our gold
value now I'm gonna give you two
equations and I'm gonna put them right
here and I want you to write these
equations down and they're gonna be real
simple and there's something for you
easy to remember so the first equation
is 14 divided by 24 equals 0.583 or if
you move the decimal place over 58.3%
the second equation is 14 divided by 24
times 100 equals 58.3%
simple equations easy to remember let me
use this an example and give you an
explanation
say you purchase piece of jewelry that
is 14-karat gold
and since the most number amount of
carats that you can possibly have is 24
just divide 14 karats by 24 you get
0.583 this means the gold purity is
58.3% easy to understand right okay
so put those equations away and hold on
to them you're gonna need them later on
before we go any further let me explain
there's different types of gold and I
don't mean the karats I mean different
colors Gold comes in many colors and it
depends on the types of alloys or how
much alloy was inside that gold the
amount of gold is still the same
for example you have white gold rose
gold all the carrots still the same the
purity of the gold doesn't change
because the colors different color added
to gold jewelry is just used to enhance
the desire effect of the
that maybe want to buy it for even more
understanding let me give you a better
enhancement there's rose gold and
there's black heels gold
so what are they what's in them rose
gold is a comprised mixture of copper
and gold which gives it that rose gold
color effect Black Hills gold which is
famous for its grape clusters leaves in
the stems gets its color from a
combination of silver alloy and yellow
gold to produce that green hue also the
copper is mixed with yellow gold and
that gives it it's red or pink you an
accommodation is that kills gold and we
have white gold and sometimes we see
white gold is being prettier shinier in
some places we'll even charge more for
white gold and yellow gold white gold is
no different it's just a purity of the
gold that which makes the carats but
white gold is just a mixture of silver
nickel and palladium and generally it's
rhodium plated so that that way it has
that nice bright shiny silver effect
which we call white gold now you're
saying okay Roy you told us about yellow
gold white gold the different kinds of
gold you've told us about numbers and
carats and letters but what we want to
know is the facts we have this gold
jewelry what is it worth how do we sell
it so we don't get ripped off by our
local buyer and I'm going to tell you
but first now we've got to talk about
ounces and grams and I know what you're
thinking Roy I know what announces well
no we're not gonna talk about a regular
ounce or a fluid ounce we're going to
talk about troy ounces in ordinary ounce
or fluid ounce has to do with the weight
of mass of something food liquid well
we're going to talk about is a troy
ounce and inside of troy ounce are grams
now one regular ounce would be 28 grams
but a troy ounce is thirty 1.1 grams you
might want to write that down one troy
ounce is thirty 1.1 grams you're gonna
need this knowledge in a minute alright
ladies and gentlemen you sat here well
I've told you all about gold and we've
even got the equation on how to
determine the purity of the gold just
by the carrots now it's time for me to
tell you how to find out what this gold
ring is really worth and I've given you
the tools to do that so I'm gonna give
you another equation so I'm gonna need
you grab your pen and paper and your
calculators so that that way we can
determine exactly what this gold ring is
worth and with that tools and knowledge
that I'm about to share you'll know
exactly what your gold ring is worth or
your gold jewelry and you'll be able to
know what you're gonna get for it if you
were to turn around and sell it now one
thing that's very important and I want
you to keep this in mind if you were to
take this ring to a pawn shop they're
only going to give you the value of the
gold weight they're not going to give
you the value of the gemstone that's in
the middle whether it's a diamond a ruby
and emerald or even just glass they're
only gonna give you the value of gold
weight now I just wrote down a quick
equation and I stuck it behind the
camera so I'm gonna read along while I
read along what I'd like you to do is
write it down and I'll put it up here so
you can see it so after we run through
this equation maybe a couple times
you'll understand it you'll be able to
write a cheat sheet down and you'll be
able to determine what the value of your
gold jewelry is with this gold ring
let's determine its worth now it's a
14-karat gold ring so what I want you to
do is I want you to take 14 and divide
it by 24 write it down remember 24 is
pure karat gold so 14 divided by 24 and
you get point five eight three which is
equal to 58 point three percent next
we're going to take spot value now you
can find spot value just by looking at
the newspaper the computer the phone the
news and just find what the actual price
of gold is currently for this example
let's assume that it's $1,700 an ounce
so I want you to take 1700 and divide it
by 31 point one and that'll give you the
exact amount of one gram of 24 karat
gold which is equal to fifty four
dollars and sixty six cents now I want
you to take that amount
fifty-four dollars and sixty six cents
and multiply it by 0.583
and that will give you the determination
of what one gram of gold is worth at
fourteen carat you see how we're
starting to go with this now the next
part is something I haven't told you
about but it's kind of important and
you're gonna need some sort of a scale a
pretty accurate one this is an actual
jewelry scale and you can use a regular
scale but it's not gonna be exact or
postage scale again it's not going to be
exact what you're gonna want is a scale
that measures in grams and if you don't
have one that's okay let's just go ahead
and continue with the equation so you'll
understand how to wear your gold so just
for the purpose of this exercise we'll
assume you have a scale now we'll take
this ring and put it on a scale and it
weighs six point six seven grams so now
I want you to take that number you came
up with earlier thirty one dollars and
eighty seven cents and multiply it by
the weight of the gold that we just
weighed which was six point six seven
your total is going to be two hundred
and twelve dollars and fifty seven cents
that means if I went to go sell this
ring at current spot value at seventeen
hundred dollars in house this ring is
gonna get me two hundred and twelve
dollars and fifty seven cents so if I
paid $5,000 for this ring five years ago
and I needed to sell it now it's only
worth two hundred and twelve dollars and
fifty seven cents and I'm not gonna get
anything for that diamond that's why I
like to go to garage sales estate sales
flea marks and trade shows and that's
why I like to find my gold so let's run
through one more equation and let's use
this ring and this is a 10 carat gold
ring so what I want you to do is take
ten and divide it by 24 you're gonna get
point four one six six six six anyway
you get the picture there's a lot of
decimals well we're going to do is we're
gonna around the decimals next we're
going to look up the spot value this
time let's say it's $1,600 so what I
want you to do is take 16
and / 31.1 that's gonna get you a total
of 50 $1.45 keep in mind that 51 dollars
and 45 cents that would be the cost of
one gram of 24 karat pure gold so now we
need to determine the price of this gold
ring at 10 karat gold so take 50 1.45
and multiply it by 0.4 167 that gives
you twenty one dollars and forty four
cents now you know the price of one gram
of 10 karat gold at a spot value of
sixteen hundred dollars an ounce so what
we're gonna do is take that ring and
we're gonna win it just like we did
before
okay we weighed it and it comes out to
four point three to write that number
down did you write that number down okay
now take four point three two and
multiply it by twenty one dollars and
forty four cents and you're gonna come
up with a total of ninety two dollars
and sixty two cents if we were to go to
the pawn shop and offer this for sale
they'd give us ninety two dollars and
sixty two cents now they might actually
be generous
they might look and say that there's
well over a carat of diamond there and
they might be generous and offer us
fifty dollars more knowing that they
could take the Diamonds and knock it out
of this ring and probably make about
fifteen hundred or two thousand dollars
just on the Diamonds alone now spot
value of an ounce of gold is always
going to change but I went ahead and
took the liberty and made a cheat card
right here's where you can see it and
it's never gonna change for ten fourteen
18 or 22 carat it's always going to be
the same decimal number so if you want
to pause the video and write these
numbers down then go ahead and that way
you'll have the numbers available for
you so the other thing I want to tell
you is if you've got a piece of jewelry
and you can't find a mark and you're
pretty sure that it's gold go ahead and
take it to your local pawn shop or
jewelry retailer and they'll test it for
you
a lot of we'll do it for free or they
don't charge very much and don't forget
to get yourself a good jewelry scale you
can usually find these at hobby stores
or retail stores and you can definitely
find them online
such as Amazon or Ebay so be sure to
pick one up sorry I don't have any for
sale well that's it I don't have any
more if you like this video then give me
a big thumbs up because it really helps
to channel and if you like videos like
this then don't forget to subscribe and
also click that notification bill that
way you'll know what more videos like
this come out so there you go you've got
all the tools and information you now
know how to be able to tell what your
value of your jewelry is and if you ever
go to a retail store or you want to go
to a pawn shop
you know how to outsmart the big guys so
thanks everybody and remember find it
sell it profit take care everyone have a
great day and be blessed
[Music]