Gold Purity

Since ancient times, the purity of gold has been defined by the term karat, which is 1/24 part of pure gold by weight. Pure gold is equivalent to 24K. Gold purity may also be described by its fineness, which is the amount of pure gold in parts per 1000.

For example, a 14K gold ring containing 583 fine gold has 583 parts (58.3%) gold and 417 parts (41.7%) of other base metals. Federal Trade Commission rules require that all jewelry items sold in the United States as gold shall be described by “a correct designation of the karat fineness of the alloy.”

Weighing Precious Metals

The weight of a piece of jewelry is a factor that helps to determine its value. It’s important because the more it weighs, the more valuable it is, assuming the item contains real pure gold, silver or platinum. While Grams (g) and pennyweights (dwt) are the units of weight most commonly used in weighing precious metals, We Buy Gold uses the pennyweight standard (dwt). Precious metals are almost always weighted in the troy system of weights, where one pound troy ounce equals twelve troy ounces and twenty pennyweights equals one troy ounce.

The Avoirdupois weight system, where one pound equals 16 ounces, is used in the United States for most everything except precious metals. The following table summarizes useful weight conversions.