Colour & Lustre are just two features of gold, it’s worth way more than that. For some, it is just metal with high value, while for some, it also beholds religious significance. Gold is one of the most precious metals on earth with high value and demand. Gold is categorized based on its purity percentage (the percentage of gold, and other metals mixed as one). Based on purity, gold is divided into 14k, 12k, 8k, 24k, etc. The symbol k represents Karat (1/24 part of the whole}. 24k-gold is the purest form of gold which means, it is 100% pure gold without any blend. 12k being the half of 24k is 50% pure which means, 12k gold is worth half that of 24k gold. Let us know about that the Is 12k Gold Worth Anything?
Is 12k Gold worth anything?
As 12k Gold contains half gold it is worth something but the total price also depends on what kind of gold it is (based on its formation). 12k-gold could be in the form of solid metal, gold filing on another base metal, and gold plating. Solid gold is worth more than gold filled and gold plating because solid gold has various other features. Solid gold is more expensive because it has high intensity of gold which makes it durable and does not cause severe allergies to people. The price of 24k-gold is $59.52 per gram. 12k gold is worth half of 24k gold, the price of 12k gold is $29.76. The price of gold is also age-sensitive i.e., with time the value of gold increases if it belongs to a well-renowned brand. This makes it rare and thus more expensive.
Factors affecting the price of gold
Every type of gold, whether it is 12k or 24k is sensitive to certain factors which affect its cost. These factors can be internal and external. While calculating the true value of gold, these factors must be taken into consideration to know its true worth. Factors that affect gold’s price are:
Current Base Price
It is obvious that the Current Base Price of gold affects the total value of gold. If the Current Base Price decreases the total price of gold decreases it doesn’t matter whether it is 12k or 24k and vice-versa.
Type of Gold
There are three types of gold solid, gold filling on different base metals and gold-plated. Solid gold is high-intensity gold which makes it more expensive, while if you talk about gold filled or gold plating, they are less expensive because the layer of gold is too thin and the base metal is also different.
Purity of Gold
The purity of Gold is the main aspect that affects the price of Gold. 24k gold is 100% pure gold i.e., it doesn’t contain any other metal mixed with it, which makes it expensive. If you talk about 12k gold it is 50% gold which makes it worth half the price of 24k gold.
Identification of Gold
As the concept of mixing gold with other metals is quite normal it is important to segregate different types of gold from each other. It will not only help us in the differentiation of gold, but also will protect us from any purity-related fraud. To differentiate golds from each other, we use hallmarks. It is a mark that is stamped on gold which indicates its purity. Hallmarks used for different metals are:
Solid
Solid gold is the most expensive gold. It is marked as 12K, 12KT, 12CT, or 500. Always check this mark while buying solid gold.
Gold-Filled
Gold-filled products or jewelry are not that expensive as they generally have 5% gold with other metals used as the base. The Hallmarks used to indicate Gold-Filled products or jewelry are 1/20 12k GF, 1/5 12k GF, etc.
Gold-Plated
Gold-Plated ornaments are generally 1% gold which makes them cheap. They are marked as RGP, HGP, GEP, etc.
Conclusion
Gold is one of the most demanded metals, which is also used in Pegging, throughout the world. It has also become a reason for people committing crimes like theft and adulteration. People should carefully check the hallmarks and get proper billing while buying them.
FAQs
- Will 12k gold stick to a magnet?
Gold in its pure form is not magnetic, hence it does not stick to a magnet, but as 12k gold is a mixed form of gold with 50% of pure gold and the rest of other metals, it can be magnetic. Same goes for 14k and 8k gold.
- How can I test gold at home?
Put a gold ornament on a surface and drop a few drops of vinegar on it. If the vinegar changes its color when left on the Gold, it is not a bar of pure gold, and if it doesn’t change its color, then it is a bar of pure gold.
