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Wealth Preservation: Understanding Silver and Gold Content for Collapse Investing

Wealth Preservation: Understanding Silver and Gold Content for Collapse Investing

Investing in precious metals is a great way to diversify and preserve your wealth. You can even find it on eBay! While this article is by no means an exhaustive treatise on gold and silver buying, it is more of a “primer” to give you some basic information you need to get started (if you plan on going into this area) or to provide knowledge to arm you in your dealings with people.  Some of this may be useful for you in purchases of precious metals, but the scope of this is mainly to cover things that you may find when out hunting in the flea markets, thrift stores, yard sales, or other areas of the “secondary shops.”

First, we’ll cover gold measured in terms of purity that is expressed in karats, symbolized by the letter “K” and “kt” with jewelers.

24 Karat                                 100%, or pure gold

22 Karat                                 91.7% gold

18 Karat                                 75.0% gold

14 Karat                                 58.3% gold

10 Karat                                 41.7% gold

Now let’s cover silver, a metal marked with a purity mark.  Here are the marks and their percentage of silver contents that correspond:

999                                          99.9% silver

958                                          95.8% silver

925                                          92.5% silver (known as Sterling silver)     

800                                          80.0% silver

We are referring mostly to jewelry or decorative pieces and keepsakes here (such as silverware, candlestick holders, or other things that may bear a stamp to show their precious metal content).  Coins are a little bit more involved and beyond the scope of this article, as there are too many to list here.

One of the problems that people run into with jewelry and their great-grandmother’s candlestick holders is that most businesses that buy them will usually pay according to their melt value.  This is especially true with silver.  Most of these dealers will estimate the silver content of your item by weight, and then will pay you roughly 15-25% under value to cover their handling and melting charges.

Learn how to test your junk gold and silver

…click on the above link to read the rest of the article…

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