Are you curious about what 14 karat gold is worth these days? Gold has been a staple of value that dates as far back as 3600 B.C. and been used for jewelry and trade throughout history. Of course we are all familiar with the Olympics and the gold medal.
The great thing is that gold never loses all of its value, and many companies want to get there hands on this precious metal since its value rarely goes down on the market.
Are you still curious about what 14k karat gold is worth? To be quite honest with you, the answer will stun you. If you’re feeling curious, Keep scrolling to get this scoop on the worth of this age-old metal.
A Brief History of Gold
Gold was first discovered in paleolithic caves as early as 40,000 B.C. and was simply referred to as golden nuggets. It wasn’t until 3600 B.C. Where the first evidence of human interaction with gold as far value was used by the Ancient Egyptian civilization.
Gold was very prevalent in Egypt and was used heavily by Pharaohs and temple Priests. This is where gold was seen as a metal only used by the very elite classes of society and members of royalty.
In 1792 The United States Congress adopted gold and silver in its Mint and Coinage Act. This law set a fixed price of Gold and Silver in terms of U.S currency. Gold was once used as a standard unit of account for paper money and has steadily held its value to this day.
What is 14k Gold?
14 karat-gold is a metal alloy composition that is actually 14 parts real gold and ten parts other metal. Percentage-wise, 14k gold is 58% gold and 42% other metals. 14K gold is popular amongst jewelry because the metal is soft, malleable, and easy to work with.
14k gold is a reliable composition because it is more durable than higher karat composition and tends to be more affordable.
14K is considered the standard for wholesale gold jewelry because it looks great, has considerable value in jewelry, and has excellent durability that can last a lifetime if taken care of correctly.
14k gold is excellent for items that are used daily, such as wedding rings, bands, necklaces, and bracelets.
Other Gold Karat Comparisons
Three other gold alloy compositions contain different purity levels that jewels use today besides 14k. These gold alloys are 10k, 18K, and 24k. Let’s see how these compare below.
Ten karat gold is ten parts gold and 14 parts other metals. Percentage-wise that’s 41.7% gold and 58.3 percent other metals. 10k gold is considered the least pure, most durable, and less expensive compared to different karats.
When you look at it, 10k gold has a more pale appearance, and it doesn’t have a rich gold tone compared to the higher karats. One of the most significant downsides to 10k gold is if you are sensitive to certain metals. Since 10k gold has a higher amount of other metals, you may have problems with sensitivity.
18 karat gold is a higher grade with 75% gold and 25% other metals. In other words, 18 of the 24 parts are made of pure gold. 18K gold is usually the highest purity used for jewelry and engagement rings.
18k gold is pricier and has a more vibrant golden tone to it, which pleases the eye. Because 18k gold has fewer alloy metals in it, this also means that it’s less durable and can scratch easily. 18k gold jewelry can be worn every day but has more of a chance of getting damaged from daily use.
24k gold is pure gold and has no other metal parts combined in its composition. 24k gold isn’t typically used in jewelry because gold in its purest form is exceptionally soft and can bend and warp easily.
Although 24k is the most valuable, it also has a more orangey bright color that most people don’t associate as gold. In other words, the color is less attractive. 24k gold is commonly seen in Eastern culture used in collectible items and gold bars.
Melt price is the price that refers to what a jeweler would pay the refinery. Melt price varies in on a daily basis, but as long as the price of gold remains stable, it won’t change for long periods.
Stock Price of 14k Gold
Gold is a commodity because of its industrial and is traded on the stock exchange. The stock price is what the value is of the commodity – in this case, gold.
As of 2020, the stock price of pure 24k karat gold is $1704.60. Since we know that 14k gold 58.5% pure gold, that would make the stock price of 14k gold about $992.16 per ounce! Other conversions are:
- 14k Gold price per gram – $29.33 USD
- 14k gold price per pennyweight – 44.07 USD
- 14k gold price per kilogram – $31151.54 USD
Please note that the prices reflected fluctuate daily.
Scrap gold is a term used to describe the process of recycled gold that has been sent to a refinery for melter. In other words, the scrap price is the price a refinery will give you for gold you submitted to be melted down.
The value of scrap gold depends on the weight and purity of the gold scraps. For example, let’s say we have an 18 karat piece of jewelry that weighs 10 grams. Well, we know that 18 karat gold contains 75% gold – divide the gold content by the grams of the jewelry, and we know that we have 7.5 grams of pure gold.
Fill that in with the current market price, and you should get your answer as to how much you have in scrap gold.
Most gold brokers will buy gold at 10 to 40% discount to cover refining, melting, and other shop costs.
Is 14k Gold Jewelry Worth It?
14k gold is worth it. Whether you are buying gold for its monetary value or for jewelry, 14k gold holds its value well, is durable, and can last a lifetime.
It may not be as high in purity compared to higher karats but is excellent for many different uses and a great investment piece for an affordable price.
Did you find this article to be a good read? Please share this article with your friends using the social media share buttons below!