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The MGS Precious Metals Blog

Manhattan Gold & Silver is an industry leader in precious metal pricing and refining with more than 30 years of experience. During our time in the business, we’ve found the topic of precious metals to be a vast and interesting one. Here on our precious metals blog, we write in-depth posts about the science of precious metal refining, historical and modern uses for precious metals, market news, and much more. Subscribe to our RSS feed to stay current, and discuss the latest posts on our Facebook page.

Precious Metal Purity and Fineness

November 28, 2010 06:30

When determining a price for precious metals, one of the first things that will have to be determined will be how pure or fine that metal is.  When precious metal is used in jewelry and other applications, it is often combined with other metals to either keep the cost down or to achieve a certain look.  The more pure the metal, the more it will be worth.  Below is some information and charts that will help you to determine the purity of popular precious metals

Gold purity (and purity of other precious metals like silver, platinum, and palladium) is expressed in fineness and refers to the gold content in 1,000 parts of a bar.  For example, a bar designated with 995 fineness is 995 parts gold and 5 parts of other metals, impurities, etc.  The purest type of gold in the market is 999.9, also known as four nines or 24 karat (k) gold.  Nines are an informal, yet common method of grading the purity of very fine precious metals.  A metal is said to be one nine or one nine fine if it is 900 fine, or 90% pure.
 
While the United States commonly expresses gold purity in karat weight, in Europe, gold jewelry is marked with three numbers (fineness) corresponding to the percentage of gold (silver, platinum, or palladium).  
 
Here are some handy charts to match up karat weight with fineness.

Gold

Silver

Platinum

Palladium

Manhattan Gold and Silver has assay machines on site that allow us to test your lot of precious metals and then give a same-day payout by either check or wire transfer.  With prices set daily to the London Gold & Silver Fix and the LPPM you are sure to get a fair payout for your lot.  Call us today for a price quote, 212-398-1554.

More Interesting Facts and Uses for Gold

November 10, 2010 07:35

We all know that gold is very valuable right now, was once used as primary currency and is most recognizable in jewelry.  Gold has many other interesting facts and uses that some may not be aware of.  Below is a list of several interesting facts about gold.

The chemical symbol for gold is AU which is derived from the Latin word “aurum” which means “shining dawn”.

The word “gold” comes from the Anglo-Saxon word “gelo” which means yellow.

Gold will never rust, because it cannot combine with oxygen in the atmosphere to form a gold oxide.

Gold is a very good conductor of heat and electricity.  Because of this, gold is prominently used in circuit boards featured in electronics such as TV’s, computers and other devices.

Carats, the unit in which gold is measured, are a measurement of mass and were based on the carob seed used by ancient merchants.

Gold is much softer than most metals.  In fact, it is so soft that it can be hand hammered so thin that the sun’s rays can shine right though it.  Because gold is so soft, it is often mixed with other materials to make it harder, so it is more durable in jewelry and other decorative items.  The two common metals that gold is combined with are copper and silver.

Another interesting fact is that for many years, gold has been added to food.  In ancient times, people believed that if they ingested gold it would give them eternal life.  Now, gold is used in products as more of a novelty, or as a way to show that it is a luxury item.  Gold flakes are even used in the popular schnapps beverage, Goldschläger.  In our next post we will calculate exactly how much gold is in this drink and give you an idea as to whether it is better to consume, or to harvest the flakes and sell.  Stay tuned!

Gold has a fascinating history, and as time moves forward, the uses for this precious metal may become even more interesting.

Facts about Gold

November 8, 2010 07:15

With gold being so popular recently because of its high value, many may not know of some of the interesting facts associated with this precious metal.  First lets define gold.  Gold is defined as a soft, yellow, corrosion-resistant element, the most malleable and ductile metal, occurring in veins and alluvial deposits and recovered by mining or by panning or sluicing.  Because it is a good thermal conductor it is often used in electronics and other devices.  The most common use for gold however is for decoration in jewelry and other precious pieces. It can be made into necklaces, bracelets, charms, coins, dental appliances and more.

Since gold is so widely dispersed across the globe, many different people have discovered at different times, but all were impressed with its color and how easy it was to work it.  It is said that the Egyptians were the first to use gold as jewelry.

Fun Facts
• The demand for gold rises in December because gold jewelry is a very popular Christmas gift.
• Gold is the only metal that won’t rust.
• Once ounce of gold is worth more than a five carat diamond.
• The first gold coins were used in ancient Turkey
• South Africa is the leading producer of gold.

Because gold is so valuable and durable, it is one of the most recycled metals on the planet.  When jewelry is broken, or electronics that contain gold are no longer working, these items can be sent to refineries, melted down, and the gold can be separated very easily for use in other items.

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