Grand Jewelers Exchange utilizes a number of different factors to determine how much we pay for gold, silver and platinum. The factors include:

• Current Market Prices
• Weight
• Purity
• Item Specific Characteristics

Of these factors, the most important is the current market price of Jewelry. Grand Jewelers Exchange uses the London Bullion Market Association’s prices of gold, silver and platinum to calculate the cash value of the precious metals we receive. We constantly watch the precious metal markets and update our prices every day to ensure our offers are the most accurate in the industry.

The latest London Bullion market prices are:

• GOLD – $2302.74
• SILVER – $26.48
• PLATINUM – $974.26

Weight and purity are the next most significant factors. The more precious metal contained in your jewelry, the more cash value it has. In fact, the more precious metal you send Grand Jewelers Exchange , the more we can pay you for it. It’s called efficiency and it helps Grand Jewelers Exchange make the highest, most accurate offers in the industry.

However, be careful, just because a necklace is heavy does not mean it contains a lot of gold.

Take gold for example. In most of the world, the purity of gold is expressed as carats (“ct” or “K”). An item’s made of 100% pure gold is called 24 carat gold. However, gold is a very soft metal and is frequently mixed with alloy elements, like copper, zinc and silver, to make it easier to work with and change its color. When this is done, it reduces the purity of the gold below 24 carats. However, it also makes the items less pure.

The most common gold purities are.

• 24 carat: 99+% Pure Gold
• 22 carat: 91.6% Pure Gold
• 18 carat: 75.0% Pure Gold
• 14 carat: 58.5% Pure Gold
• 10 carat: 41.7% Pure Gold

The most common silver purities is.

The most common platinum purities are.

• 950: 95.0% Pure Platinum
• 900: 90.0% Pure Platinum
• 750: 75.0% Pure Platinum.

(Note: Platinum is commonly mixed with copper, palladium, rhodium, iridium, and titanium.)

Most jewelry is “marked” with its purity with a stamp or a laser engraving. Since purity is such a big component to cash value, this mark is legally required by the government to ensure that buyers are aware of the purity they are purchasing. Unfortunately, these marks can wear off or be fake. So, that heavy necklace may contain less than 50% pure gold!

This is why accurate testing performed by trained professionals is so important. Take advantage of our trained experts – remember, Grand Jewelers Exchange always give you free, no commitment appraisals.

The last factor is based on the unique characteristics of each item. What type of jewelry is the item? Is it designer jewelry? Does the piece contain diamonds or gemstones? All of these characteristics can play an important role in determining whether or not your item had additional cash value.

So, what are we paying for gold, silver and platinum? Just follow these three easy steps:

1. Request a Kit – It’s free and there is absolutely no commitment
2. Ship Your Gold – It’s insured and tracked every step of the way
3. Get An Offer – Let our trained professionals give you the most accurate, highest offer available to know exactly what your items are worth