Questions on sending in my gold!

[jon4412]

Hey everyone! i am wondering how many of you use ARA to sell your gold. If i send ARA my gold do they give me a break down of how much they will pay for each piece or just a lump sum? How do i get started on how to send it in? it says on their website they don't work with the general public but i hear you have to tell them you metal detect and they will work with you... if that is the case do i have to solely send in stuff i found detecting? Also i hear they pay you some money for diamonds but do they pay any for ruby or sapphires? .. anyway i hope someone can fill me in since i sorta need the money and would rather not bring the gold to a pawn shop ... thanks

[frankiefry]

They are very nice to deal with so just give them a call and get your questions answered straight from them. I haven't dealt with them since they changed some of their policies. Good Luck : )

[jon4412]

ok so i called they said no they don't buy ruby's / sapphires and they make a lump sum offer... they also said minimum gold you can send in is a karat ... but can someone fill me in on what this means??? does it mean an amount equal to a gram of 24k gold... or something else?

[jon4412]

...cmon now i thought this play was "friendly" i can only call back on certain days and of course not on weekends ... in the mean time can anyone help answer what 1 karat weight is?

[KingTotsalot]

Originally Posted by jon4412

...cmon now i thought this play was "friendly" i can only call back on certain days and of course not on weekends ... in the mean time can anyone help answer what 1 karat weight is?

It is a bit more complicated than that. Gold is weighed in English measurements in Troy ounces. A Karat rating from 1 to 24 signifies the amount of gold in a gold/alloy mix. So 24 Kt is pure gold... .999 in purity, whereas 12 Kt gold is 50% gold and 50 % alloy. Go to http://www.dendritics.com/scales/metal-calc.asp to calculate the value of precious metals given the item's purity stamp (14 Kt for gold say, or .925 for silver). If you have the purity stamp, the weight of the object in grams, and the current price of your metal in question (easy to find some websites for the daily price update...that's the spot price everyone talks about), you can just plug those values in to get the melt value of gold, silver, or platinum in your ring, necklace, or coin!

So basically a Karat is not a weight, it is an alloy purity mark! But a carat, for diamonds is a weight. 1 gram = 5 carats!

[jon4412]

Originally Posted by KingTotsalot

It is a bit more complicated than that. Gold is weighed in English measurements in Troy ounces. A Karat rating from 1 to 24 signifies the amount of gold in a gold/alloy mix. So 24 Kt is pure gold... .999 in purity, whereas 12 Kt gold is 50% gold and 50 % alloy. Go to http://www.dendritics.com/scales/metal-calc.asp to calculate the value of precious metals given the item's purity stamp (14 Kt for gold say, or .925 for silver). If you have the purity stamp, the weight of the object in grams, and the current price of your metal in question (easy to find some websites for the daily price update...that's the spot price everyone talks about), you can just plug those values in to get the melt value of gold, silver, or platinum in your ring, necklace, or coin!

So basically a Karat is not a weight, it is an alloy purity mark! But a carat, for diamonds is a weight. 1 gram = 5 carats!

thank you but maybe i misunderstood what they said because from what they were saying i got the impression that a karat was also a measurement of weight for gold ... i knew about the purity part but thanks anyway