How We Conduct Precious Metals Appraisal
Enjoy a simple and easy process for selling or pawning precious metals!
If you want to sell or pawn your precious metals, you can easily accomplish this with iPawn. The pawning and selling process at iPawn completely takes place online so you are not required to frequent a traditional pawn shop. When you send a description and picture of your precious metals to iPawn, your items will be appraised. Next, you will receive a quote on the price as well as a shipping label to send your items to iPawn.
iPawn only accepts items that our professional certifiers are qualified to appraise including all types of gold such as yellow, white and rose gold as well as platinum, silver, and palladium. iPawn accepts these metals in their different shapes and formats such as metal bars, bullions, coins, ingots, nuggets as well as damaged jewelry and watches that contain precious metals. If you already have a purity (karat) assessment of your precious metal made by certified 3rd party, it is suggested to send it to iPawn along with your item in order to expedite the process.
This guide will walk you through the appraisal process of precious metals as well as what factors will affect the value of your item.
Appraisal of Precious Metals
One factor that will affect the value of precious metals is the weight. The appraisal price of precious metals will be greater as the weight of the item increases. Another factor that affects the price of precious metals is its purity. Gold is a soft metal so it is often combined with other metals when it is used to make rings, necklaces and other types of jewelry. The purity of the gold is the amount of gold in the item compared to the amount of other metals. The purity of gold is indicated by its karat amount and pure gold is rated as 24 karat.
As the purity of gold decreases, the karat rating also decreases. Gold bars are measured by millesimal fineness which is different from the karat rating. This rating ranges between 0 and 1 and a higher number indicates a greater level of purity. Generally a higher karat or millesimal fineness rating the item has, the higher the appraisal price will be. When platinum and palladium are appraised, the purity and weight will determine the appraisal price. Items that are more pure and have a greater weight will have a higher appraisal price. For silver items it is important that the item has a .925 or Sterling marking as this indicates the purity of the item (i.e. 92.5% pure silver and 7.5% other metals, usually copper). The weight of your silver item will also affect the appraisal price.
Additional Factors involved with Precious Metal Appraisal
The appraisal process will be expedited if your item has a manufacturer stamp such as PAMP Suisse or Perth MINT. The appraisal price of precious metals will always be based on the market value of the metal. The market value of precious metals will vary depending on economic conditions but it is generally a highly valued commodity. If your precious metals have a great deal of personal meaning then you may want to pawn your item rather than selling it. When you pawn your item, you can get your item back when you have paid the loan and interest. However, if you feel comfortable with giving up the item then selling might be the right choice for you. When you sell your item, you will receive your payment and you will not have to worry about paying any money back as is the case when you pawn an item.
Worthy.com, the Premier Luxury Marketplace
If you wish to auction your precious metal items and get the highest market price, Worthy.com is the place to go for competitive bids from buyers world-wide. Simply describe your item on the website and then ship it to the Worthy facilities free and fully insured. From there your item will be professionally cleaned, evaluated, and photographed in preparation for auction. Then hundreds of buyers from around the world will be invited to place competing bids for your valuable item.