There is a whole lot about gold and diamonds that the vast majority of people do not know. Gold is a fantastic investment, and it garners a very reasonable trade value at the local level. The information below can easily help someone receive a fair price for their gold for a value that is higher than they would have expected. Use the below tips to avoid a surprise with the diamond buyer in Edmond.
Gold is a Mixture
Gold is rarely pure. Gold used in consumer jewelry is actually a mixture of an assortment of other metals. That is accounted for in the weight when a trade occurs. A karat is not only a measure of the weight of the gold. It is also a measure of the amount of pure gold which is present. The federal Trade Commission demands that a single karat is measured at 1/24 of pure gold. If a piece is eight karats, it means it is eight parts gold compared to 16 parts other metals (for a total of 24). Buyers will then respond with the proper trade prices knowing that what they are buying is anything but pure.
Diamonds are Price in Tiers
Trading in diamonds is similar. Experts also use karats to denote value. The main difference is that gold is tied a bit tighter to the market value. Diamonds are traded at values chosen by the local professional. The Diamond Buyer in Edmond will typically organize the karats into tiers. For example, a two karat diamond may receive a payment that is similar to someone coming in with a diamond at four karats. That is because they are on the same pricing tier. But, the trade-in value may substantially jump up if it hits a new tier. For example, diamonds trading in at eight karats may see substantial returns.
The pricing of a diamond will be far more flexible than what is common with gold jewelry. The right diamond buyer will also measure each part of the jewelry on its own, and account for each stone that is in a gold band separately.