STEP 1 – Gather the unwanted gold items that you wish to sell — including, but not limited to, your broken jewelry.
STEP 2 – Bring your gold to Diamond Ridge Pawn in Crystal River, Florida, to have it tested for authenticity and karat.
STEP 3 – Obtain and agree upon an offer* from Diamond Ridge Pawn to buy your gold, and receive fast cash!
*Gold offers are based on a percentage of the current spot price for 24K gold. You must be 18 years of age to sell gold, and you must present a valid state issued ID.
F.A.Q.’s ABOUT GOLD
Whether you are looking to buy gold, or sell gold, or pawn your gold to Diamond Ridge Pawn Shop in Crystal River, you may have some questions.
Here are answers to the most frequently asked questions (Gold FAQs) about buying and selling gold.
QUESTION: What Is The Difference Between 10K, 14K and 18K Gold?
ANSWER: Pure Gold is 24K (24 carat), but it is too soft to use for making jewelry. The various carats of gold are based on what percentage of “pure gold” is in an item. 18K indicates 75% pure gold content, 14K is 58.3% pure gold, and 10K is made up of 41.7% pure gold. The European markings gold content are as follows: 18K is 750, 14K is 583 (or 584 in Russia), and 10K is 417. You will note that European markings for gold show the actual percentage of “pure gold”. Other carats include 22K or 916 (91.6%), 15K or 625 (62.5%), and 9K or 375 (37.5%) (See also the chart below)
QUESTION: Why can’t I sell (or pawn) my gold for the same price I see on the news as “today’s gold price” or the “spot price”?
ANSWER: Gold Buyers and Pawnbrokers pay “fair market price” for gold. That is not the same as the “spot price” of gold. The price of gold you see on the news or in the newspaper is the “retail” cost of 24K (24 carat gold). Most jewelry is made of 10K, 12K, 14K or 18K Gold (other carats exist, but these are the most commonly seen for jewelry made in the U.S. and Europe). Therefore, the gold buyer starts by determining what percentage of “pure gold” or 24K gold your item is. For example 12K gold would contain half as much “pure gold” as 24K, so your price would START at half of the day’s gold price or “spot price”. In addition, gold buyers must discount the value of your gold from the current “spot price” to protect themselves from fluctuations in a volatile gold market, knowing the price of gold can drop significantly over a short period of time. They must allow for the possibility of a lower “spot price” when they sell the gold. Lastly, the gold dealer must allow for fees they will pay to a gold buyer or refinery when they sell it. Even if the dealer decides to keep your gold and sell it retail, there are overhead costs in doing so. All these things factor into the price a pawn shop or gold buyer will pay for your gold.
QUESTION: My jewelry reads 1/20 12K GF. Does that mean it is “real” gold?
ANSWER: Yes, and No. If you are asking if this is the same as 12K gold, the answer is no. The GF indicates that your item is “Gold Filled”. What this means is that there is a layer of 12K (12 carat) gold which is fused onto a combination of other base metals. The 1/20 means that the item consists of 1/20 (or 5%) 12K gold and the other 19/20 (or 95%) of the item is made of base metal. See the previous question to determine what the 12K in the equation means. Note: other markings indicating an item is a combination of “pure gold” and other metals are: EGP (Electro-Gold Plated) and RGP (Rolled Gold Plate).
QUESTION: What does “”Gold Filled” or “Rolled Gold” mean?
ANSWER: Gold Filled or Rolled Gold (usually marked GF or RGP) items are made by taking a sheet of 14K gold and mechanically bond it through the use of extreme heat and pressure to a semi-precious metal (brass). This was used more frequently from the early 1900’s through the 1940’s than it is now. It is seldom used in modern times. (Note: The term “gold filled” is regulated and must include gold that is at least 1/10th or 1/20th the weight of the entire piece)
QUESTION: What does “Gold Plated” mean?
ANSWER: Gold plated jewelry is usually marked GP, HGE, or EGP. To create gold-plated jewelry, a base metal such as brass, steel, copper or silver goes through a series of processes and is eventually dipped into a bath of electroplating solution which contains gold. Next, an electric current is applied, which results in a thin layer of gold covering or “plating” the metal. A gold plated item is subject to tarnish or discoloration since the gold layer can wear off — exposing the base metal. The layer of gold on a gold plated item is much thinner than the gold on an item that is gold filled.
QUESTION: What is Vermeil?
ANSWER: Vermeil is Sterling Silver that has been coated in gold.
For your convenience, here is a chart about gold markings and what they mean. Markings on gold and gold content itself can vary based on the country of origin and when an item was made. Some of these markings will only be found on vintage and antique jewelry.
Karat of Gold Marking Percentage
22 Karat Gold 22K or 916 = 91.6% solid gold
18 Karat Gold 18K or 750 = 75% solid gold
15 Karat Gold 15K or 625 = 62.5% solid gold
14 Karat Gold 14K or 583, 584 or 585 = 58.3% – 58.5% solid gold
12 Karat Gold 12K or 500 = 50% solid gold
10 Karat Gold 10K or 416 or 417 = 41.6% or 41.7% solid gold
9 Karat Gold 9K or 375 = 37.5% solid gold
8 Karat Gold 8K or 333 = 33.3% solid gold