The Diamond District

As many people already know, Manhattan Gold & Silver is located in the Diamond District of NYC. The Diamond District is located on West 47th Street between Fifth Avenue and Sixth Avenue.  While some jewelers have their own shops along this strip, most have booths in the 25 jewelry exchanges located in this area.  Each exchange can have as many as 100 separate jewelry or related businesses. In this situation, you don’t have to travel very far to find what you may be looking for.  Simply move five steps in either direction and you will see completely different inventory.  The Diamond District is made up of approximately 2,600 independent businesses, all of them dealing in diamonds, jewelry, gold and other precious metals and stones. 

 

The area is one of the primary centers of the global diamond industry along with London, Antwerp, Belgium, Mumbai, India, Ramat Gan, Israel and Johannesburg, South Africa.  The district serves as the premier center for jewelry shopping in the city and it is estimated that 90% of the diamonds inthe US enter through the district.  The average day’s trade value in the diamond district is $400 million.

Manhattan Gold and Silver islocated at 45 W 47th Street· New York, NY 10036,in the diamond district.  We look forward to greeting you when you visit this area. 

First Annual New York State Jewelers Association Golf Outing

Manhattan Gold & Silver is proud to be a sponsor of the first annual New York State Jewelers Association (NYSJA) golf outing.  The event is set to take place on Monday, August 2, 2010 at the Mount Kisco Country Club in Mount Kisco, NY.  This golf outing is designed to help raise money for the NYSJA Scholarship Fund. The NYSJA will also help to support Jewelers for Children Charity by placing JFC Canisters on various holes throughout the course.  The day will start at 10:30 with a brunch, which Manhattan Gold and Silver will be sponsoring. A shotgun start will then begin at 12:00PM followed by a BBQ and Auction.

For those interested in participating, the prices for different groups are as follows:

  • $2500 for a regular foursome
  • $700 for an individual golfer
  • $200 for a dinner ticket only
  • $3000 for a corporate foursome

A corporate purchase includes the company name on all relevant signage, a link to the company website from the NYSJA site; Enewsletter press and the company will be listed as a Scholarship Sponsor on the NYSJA site.

All golf tickets include greens fees, golf carts, brunch, on course beverages, snacks and admission to the dinner/cocktail hour.  Only 30 foursomes will be sold, so sign upearly.  Sign up forms can be found here: http://www.newyorkjewelers.org/.

Manhattan Gold &Silver is proud to be sponsoring this great event and looks forward to seeing many friends and colleagues on the links!

Hope to see you there!

How Is Gold Measured

As you may already know, not all gold is created equal.  If your jewelry is 24 Karat, then you havethe purest form of gold available.  Gold is measured in karats to signify how pure it is, and to let consumers know exactly what they are getting.  This also comes into play if you want to trade in your gold for cash.  The most common denominations of gold karat are: 

  • 24 KT
  • 22 KT
  • 18 KT
  • 14KT
  • 10KT

The lower the karat weight, the less gold is actually in the piece.  24 karat gold is 999% pure gold.  22 karat gold is slightly less at 917% gold. 18 karat gold contains 75% goldand 14 karat gold contains roughly 585% gold. The remaining elements in the gold mixture can vary depending on what color you want the gold. 

In many cases gold will be marked to show what karat weight it is.  Even though a piece may be marked as 18 KT gold, it may be not completely accurate.  Depending on where the gold piece was made,will depend on the overall quality.  Not all countries have the same laws regarding the accuracy of these stamps.  If you are selling your jewelry for cash, the only true way to get an accurate estimate is to go to a gold refiner, and have them test it by hand, or melting it down and fire assaying it.