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Nowadays gold has many technological, medicinal and decorative uses such as jewelry, pottery, and clothing, but some of its most significant uses are still found in inflation protection.
1. For centuries gold has maintained its purchasing power. In the past, you could buy a suit in New York City with one ounce of gold. Today you still can!
2. DiversifIcation of your savings is important. Over the course of the last 100 years, the US Dollar has lost over 98% of it’s purchasing power.
3. As an internationally recognized investment, gold protects your wealth all over the world.
Now assume you've decided to purchase some gold jewelry, you need to know what these markings on gold jewelry represent, since they can be confusing for many consumers in the market for gold.
The gold markings of 750, 585, and others refer to the purity of gold and correspond with a caratage. Every type of gold (from 8K to 24K) has both a caratage and a decimal fineness, both referring to the purity of gold in a gold alloy. Caratage signifies the number of karats in it, whereas fineness refers to parts per thousand of gold in an alloy.
Pure gold equals 24 karats, or 24k, a caratage that can also be expressed in decimal form as .999 fine, the finest gold ever created. The decimal is found by dividing the actual caratage by 24, the most carats gold can have. For example,14 karat gold is .583 fine because 14/24 = .583.
|8K or 8ct||333||33%||The lowest possible standard and will tarnish sometimes.|
|9K or 9ct||375||37.5%||Mainly British Commonwealth countries, but not recognized in USA as gold.|
|10K or 10ct||416||41.6%||The minimum legal caratage allowed to be called gold in the USA.|
|12K or 12ct||500||50%||Not usually used for jewelery because of its dull color.|
|14K or 14ct||585||58.5%||Very popular caratage for jewelery. Its polish and color can be held for many years.|
|15K or 15ct||625||62.5%||Discontinued around 1935 and is a good indicator that the piece is old.|
|18K or 18ct||750||75%||Excellent for use in fine jewelery for its rich, deep color and slight softness.|
|22K or 22ct||916||91.6%||Can be used for plating or gold leaf, but considered to be too soft to use in the US.|
|24K or 24ct||1000||100%||Pure gold. Used for gold leafing and plating, but too soft to use for jewelery.|
Up until 1998, a Hallmark consisted of four COMPULSORY MARKS. Since then the date letter has become optional since, but the other three symbols remain compulsory. The symbols give the following information:
● the maker of the article
● the guaranteed standard of fineness (as introduced above)
● the Assay Office at which the article was tested and marked
● the year in which the article was tested and marked
This is the unique mark of the company or person responsible for sending the article for hallmarking.
The sponsor may be the manufacturer, importer, wholesaler, retailer or an individual. To obtain a sponsor’s mark you must register with an assay office.
This symbol shows which Assay Office tested and marked the item. The Anchor is the symbol of the Assay Office in Birmingham
Shows the year in which the article was hallmarked.
Take a two-sided cloth to polish your gold jewelry. Use one side of the cloth for polishing, and reserve the other side for shining afterward.
Don’t wear your fine jewelry all the time. Remove your jewelry when you wash your hands with soapy water or swim in a pool since they can be severely damaged by harsh chemicals.
It turns out we can be so creative when it comes to the use of gold other than just make it into jewelry…
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