Gold - What is the difference between 18kt, 14kt, 10kt and 24kt?

Silver

Gold

 
The American standard for identifying gold purity is karating.  A karat is a unit of measurement that applies to the purity of gold.  The Abbreviation for karat is kt. Karating is based on 24 units, or parts, which is why 24 karat gold would be considered pure gold.  Meaning that nothing has been mixed or alloyed with it so it is 100% gold.  Alloying is the mixing of one metal with a second metal to produce a third metal.  Since gold is very soft it is often alloyed to give it durability and strength.  Copper is the primary alloy and when added to gold it becomes much harder and more resistant to wear.So 18 Kt gold is 25% alloy and 75% gold, 14 kt is 42% alloy and 58% gold and 10kt is 58% alloy and 42% gold.   Some alloys, such as palladium, are added to gold to change it color to white. (Green and red colors are achieved by adding different combinations of various alloy metals). Over the years, different refiners of gold have used their own combinations of alloys, which have resulted in different colors of gold making one refiners yellow gold slightly different in color to another refiners yellow gold.  In 1989, the Manufacturing Jewelers and Silversmiths of America began working on a gold color standard that helps to produce consistency in the colors used in the jewelry industry.  This was a very important step when it comes to jewelry repair. 
It is amazing to believe that a teaspoon of pure gold is worth more than an average person's wages for one week.  What are the prices for gold today you ask? 

Metal Prices today: $37.70   $1,533.00   $1,786.00

The value of gold or jewelry, as well as any other article, is what someone is willing to pay for it on any given day.  Gold is considered a liquid asset, which means there's always someone willing to pay you very close to the market value at any given time.  The price of gold varies daily due to changing financial conditions in the world.  You may find it interesting to following these prices if you have gold you want to sell or carry stock in gold.

Always remember you won't always getting the market value for gold and you should be careful when selling gold.  Do your homework.

Buying gold jewelry is a little different.  You can still find affordable prices for gold pieces but jewelry prices have gone up just like everything else on the market today because of the economy.  Again do your homework and look for deals or auctions.

Visit us anytime at www.morgans-jewelryboutique.com.  We love jewelry!!