Have you ever heard the name of different gold? Do you think gold can be bought cheaper? Yes, many people are looking for cheaper and more affordable options when buying gold. Miscellaneous gold or second-hand gold is one of these options that is attractive to buyers for various reasons.
Miscellaneous gold, which is known as second-hand gold, used gold, used gold, tax-free gold, or gold without added value, refers to gold pieces that have already been used by people and are being re-marketed.
How to calculate different gold rates?
As you know, the carat of gold shows its purity and value, and this amount is expressed in percentages or thousandths. Gold grade in Iran is usually 18, which is equal to 750 parts per thousand. (That is, 75% of the alloy is made up of gold.)
The most important point in buying second-hand gold is its carat, which has a direct effect on its price.
Methods of measuring second-hand gold
- Acid test method: It is one of the common and old methods to determine the gold grade, which is done using special acid solutions and on a black stone.
- XRF or X-ray fluorescence: This method identifies the chemical elements present through X-ray radiation to gold and can determine the purity of gold with high accuracy. Of course, this method is mostly used in advanced and laboratory places.
- Use of digital carat measuring devices: these devices can calculate the carat of gold quickly and without damaging the gold and with great accuracy. They are mostly used in modern gold shops.
Advantages and disadvantages of buying second hand gold
Advantages: Buying used gold is usually popular for the following reasons:
- Cost Savings: Miscellaneous gold often costs less than new gold and has no manufacturing fees or taxes, making it more affordable for buyers.
- Cost Savings: Miscellaneous gold often costs less than new gold and has no manufacturing fees or taxes, making it more affordable for buyers.
- Valuation by weight: In most cases, the price of miscellaneous gold is calculated based on its weight, reducing design factor costs.
- Paying attention to the environment: helping to recycle resources and reduce mining.
Disadvantages of buying second hand gold:
- Fraud risk: some miscellaneous gold may be of lower purity or counterfeit, the need for more accuracy and testing.
- Depreciation: Most vintage jewelry may have scratches or damage that affects its value.
How is the price of second-hand gold calculated?
The price of miscellaneous or used gold is usually lower than that of new gold, and this is due to its depreciating value after initial use. To calculate the price of second hand gold, several factors must be considered:
- Weight of gold: First, second-hand gold must be carefully weighed. Accuracy in weighing is very important because it directly affects the final price.
- Determining the grade: After weighing, the grade of the used gold is determined so that pricing can be done based on it.
- Depreciation determination: Because the gold is used and there is a possibility of damage and scratches on it, a price is considered as a depreciation and deducted from it.
- Final calculation:
\[
\text{final price} = \text{weight (gram)} \times \text{price per gram} \times \text{carat} \times (1 – \text{price drop})
\]
- Additional costs: after calculating the initial price, costs such as taxes and seller’s fees should be added to it.
What are the other names of second-hand gold?
In the gold and jewelry market, different terms are used for second-hand gold, many of which you may not have heard. Common names include:
- Miscellaneous Gold: A term used for second-hand mixed gold with different carats.
- Used gold: Refers to jewelry and ornaments that have been used.
- Old or old gold: refers to gold made in previous years that has been re-marketed.
- Gold without wages or taxes: To buy second-hand gold, there is no need to pay a fee under the name of manufacturing wages and taxes.
These names can usually change based on different local conditions and culture, but generally refer to gold that has been used from new to second hand.
Conclusion: Should we buy second hand gold or not?
This type of gold is perfect for women who are constantly looking for variety and selling old gold and buying new gold and jewelry.
Miscellaneous gold has found a special place as a more economical option for those who are looking to buy cheaper gold. Contrary to popular belief, which only believes in the value of new gold, miscellaneous gold can be an economical and smart choice.
Understanding how grade and price are determined, as well as knowing the different terms, can help you make better decisions when buying or selling used gold. With proper forethought and research, buying miscellaneous gold can be a good investment.
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فارسی (Persian)
