News

Blog Menu

Gold hits all time high! Time to sell?

Posted by Lane Griffith · September 23, 2024

Holy Cow! $2600 Per Ounce?!

The price of gold has been skyrocketing lately! With gold currently trading at prices over $2600 per ounce, there has never been a better time to sell your gold jewelry! If you're in Northern Michigan and are looking for cash for gold you need to make sure you find a local jewelry buyer you can trust to help guide you in your decision. "Cash for Gold" stores, pawnshops, coins shops, hotel event buyers and more all will buy your gold jewelry. But is it the best price for your gold? Where is the "Best place to sell gold near me"?

At North Coast Jewelry we believe in professional, educated, and transparent deals. We understand that it is tricky to navigate the world of selling jewelry. With so many places offering to buy your valuables it's important to work with a company you can trust. We will help you understand exactly what you have and it's value in today's market. After evaluating and discussing your valuables with you, North Coast Jewelry will make you a fair no obligation offer to purchase your jewelry.

For a more complete list check out this list of of WHAT WE BUY.

THINKING ABOUT SELLING YOUR JEWELRY? SCHEDULE YOUR PRIVATE APPOINTMENT TODAY CALL - TEXT - EMAIL

What is My Gold Jewelry Worth?

This question is why you're here right? With so many factors in your jewelry's value this blog post cannot cover them all, but we will address the main factors. Of course the value of the materials making up your jewelry is the main factor discussed in this post, but there are many reasons North Coast Jewelry pays more for your valuables.

Selling Scrap Gold

The material (scrap) price is the most common way to value your jewelry. This is calculated based on the purity of the gold you have, and the quantity or weight of the item(s). Very little gold is pure like the 24k/.999 pure bars and coins that are typically what is referenced with the "spot" price of gold. The purity is typically expressed as the metal's karat. Karat is an expression of how many parts out of 24 are pure gold, with the remainder being other metals alloyed either for strength, color, cost savings, or some other factor. So a ring that is 10 karat gold for example is 10/24 or 10 parts out of 24 gold and 14 parts "other". This means that 10k is actually less than half gold! Here is a quick run down of how these break down:

Selling 10 Karat Gold = 10/24 = 417/1000 or 41.7% Gold
So if gold is at $2600 per pure ounce that means an ounce of 10k is worth about $1084
Selling 14 Karat Gold = 14/24 = 585/1000 or 58.5% Gold
So if gold is at $2600 per pure ounce that means an ounce of 14k is worth about $1521
Selling 18 Karat Gold = 18/24 = 750/1000 or 75% Gold
So if gold is at $2600 per pure ounce that means an ounce of 14k is worth about $1950

As you can see there is a big difference in the value of each karat of gold! It's also important to understand this quick math doesn't include other factors such as weight of gems or other non-gold materials that may be in your item. Another factor is fact that jewelry is often "under karated" meaning that the manufacturer may have shorted the gold portion to cut corners and cut costs when manufacturing meaning it is common for 10k to really be closer to 9k for example. There are also costs involved in refining your material back to pure so even we as the gold scrap buyer don't get paid this full amount, but the "scrap" value is often used as a good baseline to work from when determining the value of your gold jewelry.

READY TO SELL YOUR SCRAP GOLD? CALL - TEXT - EMAIL TODAY!

How North Coast Jewelry Pays the Most for Your Gold Jewelry

As we learned above the "scrap" value of your jewelry is the main factor used when you search "Gold Buyers Near Me". But what if your item isn't just scrap? Many other buyers aren't educated on all value factors, or choose not to pay for for them and will only buy your gold for it's scrap value. At North Coast we factor in many values including:

"Scrap" value of the materials (Gold, Silver, and Platinum being the main precious metals used in jewelry) Yes, we also have to use this as a baseline value, but then add to it with the rest of the factors.
Age - some vintage and antique jewelry styles demand a premium. North Coast Jewelry pays a premium for salable antique jewelry!
Maker - Some brand names will always bring a premium price. North Coast Jewelry pays a premium for items made by premium makers such as Tiffany and Co., Cartier, Van Cleef and Arples, and more.
Diamonds - Looking to sell diamond jewelry? North Coast Jewelry will buy your diamonds, not just the gold in your jewelry. Premiums paid for large natural diamonds, including fancy color diamonds.
Gemstones- Diamonds aren't the only valuable stones in your jewelry. North Coast is owned by a GIA graduate, knowledgeable in assessing the quality and values of your gemstones. Premiums paid for large, high quality examples of sapphire, ruby, emerald, and more!

READY TO SELL YOUR PREMIUM GOLD JEWELRY? CALL - TEXT - EMAIL TODAY!

The North Coast Difference

Why make the drive to see Lane and the staff at North Coast Jewelry in Fife Lake? Customers from Traverse City, Cadillac, Kalkaska, Gaylord, Petosky, Big Rapids, and more all have found that NCJ is worth the trip!

Professional: Our by appointment format ensure that you have our undivided attention.
Private: We understand that selling your valuables is a private matter. Why stand at a full pawn counter discussing sensitive financial information for all see and to hear?
Knowledgeable: As a GIA graduate with over 15 years of real world buying experience Lane is highly qualified to purchase your valuables.
Experience: Lane travels the country looking for inventory for NCJ often doing more trading in a single day at an industry event than many gold buyers do in a month
Connections: As a member in good standing of several of the worlds largest jewelry and watch organizations North Coast Jewelry has connections to markets around the globe meaning we can comfortably purchase items other stores can't/won't for fear of lack of customer base.

North Coast Jewelry can help determine all of these value factors and more. Schedule your no obligation private jewelry selling appointment today. CALL - TEXT - EMAIL today!

Moonstone Mythology

Posted by Lane Griffith · June 29, 2023

Moonstone has been revered since ancient times. In ancient Rome, it was believed that moonstone was formed from solidified moonbeams. It was believed to bring good fortune and protect against evil spirits.

Moonstone holds significant importance in Hindu mythology. It is linked to the deity Chandra, the Moon God. According to Hindu belief, moonstone represents the ethereal light of the moon and is regarded as a symbol of love and passion. In Greek and Roman mythology, moonstone was associated with the lunar goddesses Selene and Luna, respectively. Considered a sacred stone that bestowed love, fertility, and harmony upon its wearer.

History of the Moonstone

Posted by Lane Griffith · June 27, 2023

Moonstone gained popularity during the Victorian Era (1837-1901) when it became a favored gemstone in jewelry. The stone was often used in Victorian mourning jewelry as a symbol of remembrance and protection. Moonstone's shimmering adularescence, a phenomenon where light appears to float within the stone, perfectly matched the romantic aesthetic of the era.

Moonstone experienced a resurgence in popularity during the Art Nouveau period (late 19th to early 20th century). The gemstone's dreamy and mystical qualities resonated with the Art Nouveau movement, which embraced natural forms and symbolism.

Moonstone continues to be cherished as a gemstone today. It is widely used in jewelry, particularly in bohemian and alternative styles. This June birthstone is associated with emotional balance, intuition, and feminine energy.

Alexandrite Mythology

Posted by Lane Griffith · June 22, 2023

Alexandrite's most significant characteristic is its ability to change color in different lighting conditions. This color change is often associated with adaptability and the ability to perceive different perspectives or situations.

With links to Russian folklore and cultural symbolism. The gemstone is sometimes seen as a representation of the Russian soul, reflecting the duality and resilience of the Russian people. The gemstone is said to help in times of emotional stress or when facing difficult decisions.

Not only is Alexandrite the birthstone for June, along with pearls. It is also considered the traditional gemstone for the 55th wedding anniversary. It is often chosen for these occasions due to its rarity and its representation of transformation and longevity in relationships.

Discovery of Alexandrite

Posted by Lane Griffith · June 20, 2023

The discovery of alexandrite is attributed to Finnish mineralogist Nils Gustaf Nordenskiöld, who found the gemstone in emerald mines in the Ural Mountains. Nordenskiöld initially mistook the greenish gemstone for emerald but later realized its distinct color-changing ability when viewed under different light sources. The gemstone appeared green in daylight or fluorescent light and red under incandescent light, which fascinated the gem enthusiasts. The phenomenon is often described as "emerald by day, ruby by night."

The gemstone was highly sought after and considered a symbol of wealth, power, and elegance. Unfortunately, the Russian supply of alexandrite depleted over time, and by the early 20th century, the gemstone became increasingly rare. Although the primary source of alexandrite was Russia, significant deposits were later discovered in other parts of the world, including Sri Lanka, Brazil, Tanzania, and Madagascar. These new sources helped revive interest in alexandrite and made the gemstone more accessible.

Today, alexandrite remains highly valued and sought after by gem collectors and enthusiasts. Its scarcity makes it one of the most expensive and prized gemstones in the world.