How to check your gold at home

by MartaLast updated Oct 17, 2020Category: Culture & Arts / Jewellery

Some people inherit their gold, some buy it from a jewelry store, some at a flea market, and the luckiest ones find it on the street!
In any case, it can be challenging to be certain that your gold is really gold. Here are a few methods of how to check your gold.

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Stamps

Check if there are any stamps on the jewellery (usually inside). Very often (but not always) there will be a marking on a gold piece indicatind its karat. But even if you see a stamp, ATTENTION, do not flatter yourself! Indeed, these days many scammers put stamps on copper or iron products and sell it under the disguise of gold. Be careful; buy gold only in trusted places with a good reputation. Don’t get fooled by a low price, because, as we know, there’s no such thing as a free lunch!

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Magnet test

Bring a magnet to your jewelry – gold will not react in any way, while many other metals are magnetic. And, again, do not rejoice prematurely if no magnet reaction has occurred, because copper, like gold, is not magnetic. But if the magnet attracts your jewellery, you can be sure to be upset – it’s not gold.

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Vinegar test

Another use for vinegar is to determine the authenticity of gold! Place a few drops of vinegar on your gold piece, if the colour changes – it’s not gold. If the colour remains the same, the chance of authenticity is increased, but not guaranteed. Keep exploring!

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Float test

As we know, gold is heavier than many metals due to its density. Fill a glass of water and put your product in there, if it sinks – there is a high probability that it is real gold. If the product remains floating on the surface, then we know – it’s not gold!

The most unerring method

All of these methods give a general idea about your product, but unfortunately, they do not provide any guarantees. The surest way is a professional test. For this, some places use different types of acids, but we at Cash Company use a precious metal analyzer that will show exactly the contents of your gold.

So if you want to be sure of the authenticity of the jewellery, we can check your gold for you, and you are always welcome to our store! The test is absolutely free and very quick – only 12 seconds per item.

Pawn Loan Repayment Example

This is an example of a pawn loan repayment for a 12 month period.

Original loan amount: $30,000

Total to repay at redemption: $40,440

Total cost of borrowing at redemption: $10,440

Maximum APR = 34.8%

Minimum period 61 days, maximum period 12 months.

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