Straight answers, before you decide anything

Understanding gold

01What does carat actually mean?

Carat describes how much of an alloy is gold, expressed in twenty-fourths. 24 carat is pure gold. 22ct is 22 parts in 24, usually marked 916 parts per thousand; 18ct is 750; 14ct is 585; 9ct is 375. Everything that is not gold is alloy — typically copper, silver or zinc — and it carries no precious-metal value. This is why a heavy 9ct chain can be worth less than a much lighter 22ct one.

02Why is my gold weighed in troy ounces?

Precious metals use troy weight, not the everyday avoirdupois ounce. One troy ounce is 31.1035 grams, against 28.3495 grams for a standard ounce — a difference of about ten per cent. It is the single most common reason two people quoting the same weight appear to disagree with each other.

03What is a hallmark, and what if my piece has not got one?

A hallmark is a set of marks struck into a piece recording its fineness, and often who submitted it and where it was tested. It is usually found inside a ring band, on a clasp, or on the reverse of a pendant. Plenty of genuine gold carries no hallmark at all — it may be worn away, the piece may predate marking requirements, or it may have been made where marking is not customary. An unmarked piece is not a problem; it simply means fineness is established by examination rather than read off the metal.

04Why might my piece be worth less than its total weight suggests?

Because not all of what you are holding is gold. Stones, clasps, spring mechanisms, pins and solder all add weight without adding precious metal, and plated items carry only a microscopic layer of gold over a base metal. A professional evaluation separates these out and tells you what it has excluded, which is why an itemised assessment and a single lump figure can differ considerably.

05Should I clean or repair anything before bringing it in?

No. Cleaning risks damaging stones, softening old settings or removing patina that matters on antique pieces, and a repair almost never returns more than it costs. Bring items exactly as they are, including broken ones — a snapped chain and a single earring are perfectly normal things to have assessed.

06Can I get a valuation over the phone or from a photograph?

No, and you should be wary of anyone who offers one. A figure quoted before a piece has been weighed and examined is a guess. Pureweight establishes value in person, from measured weight and verified fineness. Photographs sent with an enquiry are useful for preparing, but they are not a valuation.