A New Way to Pan for Gold; Estate Sales & Flea Market Gold Digging
How to Find a Gold Treasure
Who doesn't like a treasure hunt? Especially if you find real gold and no one else was the wiser. I mean the kind of fine gold that is not marked, but is in fact,14k for $5.00 or a heavy gold box chain necklace marked 585 for $2.00. Sounds ridiculous? How can one find such deals and how can the seller make such obvious mistakes? Much like the guy who pans for gold you have to know what to look for. It can become a profit-making hobby if you get good at it!
You only need four things to be good at hunting for gold: one, a love for jewelry; two, a love for shopping; three, a love for treasure hunting; four, a good loupe. Always carry a loupe, which is a simple, small magnification device used to see details more closely. Usually a 10x (power) correct lens is the best to buy. Once you start shopping for gold you will never want to be without your loupe.
Information and a Keen Eye
Marked or Not Marked Can You Tell The Difference?
As a rule all jewelry should be marked. Sometimes it is gold and not marked; and sometimes it is marked gold but it isn't gold. This is very rare but it does happen. Either the jewelry was too delicate to mark or a mark is dishonest. Learning all you can about gold jewelry is an important start. Especially understanding how it is made. Since gold will always be valuable; even broken pieces of fine gold jewelry can be sold for a nice profit. Train your eye to know what fine gold looks like. Visiting jewelry stores and antique stores is a good way to see the different types of jewelry.
Terms like rolled gold, gold filled, electroplated gold, vermeil, and plated are not the purest forms of gold jewelry. This kind of jewelry will have markings like: "14K HGE" or "14K HG" or "14K GP" or "14K GF" (these are not real gold, they just have a thin layer of gold on top of a non-gold metal). Fine gold jewelry is made from units of measuring proportions of pure gold mixed with an alloy. The proportion of pure gold (24k) is measured in karat weight. The word karat is used to define the number of parts of pure gold. Pure 24 karat gold has a very deep, shimmering yellow color. An amount of pure gold when mixed with an alloy takes on other color characteristics. Yellow gold made in measurements of 18K,14k, 12k, 10k, and 9k contains varying amounts of silver and copper. Rose gold, which was popular at the turn of the century, also contains silver and copper but in different proportions. White gold is mixed with silver, nickel or palladium. Other colors, green and blue gold were popular in the art nouveau period. Green gold was created using a mix of pure gold, cadmium, and silver to reflect a greenish sparkle. Blue gold is an alloy with iron to give a blueish nuance.
Ever Been Fooled? - It was Too Good to be True
I once purchased a ring on eBay from China. It showed a picture of a turquoise and yellow gold ring. The ad claimed it was solid 14k gold. After receiving the ring I thought it looked strange. It did not look rich and elegant like I imagined it to be. I took the ring to my jeweler and he took one look and said this is a cheap metal and the stone is resin. He did an acid test to prove that he was correct. I was shocked that the ring was stamped on the inside 14k.
Have you ever been fooled into thinking the jewelry was real gold?
How Not to Get Fooled
Tricks of The Trade
There are some important points to be made about gold markings. Not all fine gold will be marked with a number and a "k" beside it. European gold is measured in the same manner but has different forms of marking the karat weight. If its not marked with a single "K" than it is not gold. This is a common mistake people make if they are unaware of European markings.
Not to long ago I went to an estate sale. There was a table with bits of jewelry spread out. The sign above said $2.00 a piece. Most everything on the table looked like junk. There were two chains laying there; one was a heavy snake chain and the other a heavy box chain. The chains were a dark dirty gold tone. I pulled out my loupe to read in tiny print, 585 in an obcsure spot, (enough about where to look for markings later). European gold that is 18K is marked 750, 14k gold is marked 585 and 10k gold is marked 417. When I got home I polished up the necklace to find a beautiful gold shine. To learn more about markings click on the image. It is a good idea to print this page and keep it with you when you go treasure hunting.
If you shop at flea markets, garage sales and estate sales is it very likely that European jewelry might be found. Each country has a minimum standard of gold. This information may come handy.
*German minimum standard of gold is 333 or 8k
*England's minimum standard of gold jewelry is 375 or 9k
*U.S. minimum standard of gold is 417 or 10k
and 585 which is 14k
*Dental minimum standard of gold jewelry is 620 or 14.8k and 750 or 18k
*Portugal minimum standard of gold is 800 or 19.2k
*Egypt's minimum standard of gold jewelry is 18K
* Arabic countries minimum standard of gold is 875 or 21k, 916 or 22K, 990 or 24k, and 999 or 24K
On three separate sales I came across jewelry that was marked 14kP. Everyone of the sellers claimed it meant "plated". Do not get fooled by this. The "P" stands for PLUM. Much of the gold jewelry made can be marked 14k (or any other number) and actually fall short of what it is marked. In other words that 14K piece is actually 13.2K when tested. The "P" after the k indicates that is is exactly what is marked.
If the gold is not marked, and it is very dirty wipe it clean and use a loupe to look closely at all parts of the jewelry. Gold plated jewelry often will show areas of wear where the gold is missing, but not necessarily new ones. Also, check all jump rings to be sure they are soldered closed. It is easy to attach a chain tag to any chain. If it is not soldered the chain my not be what the tag says.
Carrying a small magnet can be useful. If you have a piece of jewelry you are not sure of you can do a quick magnet test: does your chain/ring/bracelet stick to a magnet? If so - it isn't real gold.
There is a Little Bit of Gold Digger in All of Us! - Tools to Help you out.
Buying gold will always be a desirable investment. But, anyone can easily be ripped off. Don't be one of the unsuspecting buyers that gold dealers love to prey on. These are the best tools that I have come to find. I personally have read these books and would gladly recommend them to you.
This is a great book for understanding gold. How its role plays out as a currency standard.
This book is perfect for the average buyer. It points out all the common mistakes that can be made when buying gold or silver for an investment.
This is a must have source. Everyone can do this now. Well worth the read.
Combining it all. This book has been a good guide for me.
How to Find the Markings on Gold Jewelry
Sometimes Marks Are Hard to Find
Gold markings can be hard to find on some jewelry. Chains are probably the easiest to find the gold mark. The mark can be found near the clasp. Rings are also easy to find the mark; always marked on the inside of the shank. Bracelets, earrings, pendants and brooches can be harder to find as well as see. Sometimes the marks are so tiny they are easily missed all together.
Post earrings will have a small marking on the post with another on each backing. If there is not a mark on any of these parts it is most likely not gold. Bangle bracelets are sometimes overlooked. I have purchased three 14K gold bracelets, ranging in price from $8.00 to $20.00 because no one checked for the markings. Bangle bracelets are not marked on the inside of the bracelet but rather you have to pull the clasp open. The mark can be found on the "tongue" of the clasp. Brooches are often easy to find the mark, however I have one where the mark is on the pin part of the brooch.
Go to the Costume Jewelry Table
Finding the Good Stuff
All over the U.S. estates sales are happening. Log on to www.estatesales.net and will see the map of the U.S. just click on your state and there will be a list of main cities. Each sale service features pictures of the items they will be selling. Look for the costume jewelry picture or a listing for jewelry. You would be surprised at how much fine gold jewelry gets mixed in with the costume jewelry. Do not shy away from a table that looks like junk. Often that's where the best deals can be found. Old gold jewelry that has become dirty is usually missed.
See What Gold is Going for on eBay
The price of gold is always fluctuating. I use eBay as a starting point for how much to expect for weight in gold price. I also look at eBay to see what kind of jewelry sells best. Check out these items. Sometimes you can catch a really good deal.