Our 4 Step Process to Buying Your Gold

Whether you’ve already brought gold to us in the past or even if it’s your first time considering selling your gold, it’s a good idea to know what to expect. If you’re unfamiliar with the gold buying process and what companies like ours need to do to ensure its authenticity, then today we’re going to begin explaining that process including testing and weighing, all to make sure that you get the most cash in return for your gold.

Step 1: Examining the Piece

The first step toward authenticating gold is to observe the colour. If the colour of the gold is off and a good cleaning doesn’t help, this issue can often throw up a red flag. The weight of the item is also important. Our experienced gold experts can tell a lot about the piece simply by feeling the texture and weight in their hands.

Step 2: Performing a Magnetic Test

The next step is to perform a magnetic test. We use a rare neodymium earth magnet for this purpose. If the item leaps to the magnet when brought into close proximity, it is most likely either made from pure nickel or has strong iron content. These items are eliminated without further testing as they are not real gold. Unfortunately, we most likely won’t be making an offer on ungenuine items. On the other hand, most gold plated, filled or costume jewellery items won’t be attracted to the magnet and will be subject to further testing.

Step 3: The Rub Tests

After the initial examination and magnetic testing, we now rub a streak of the metal on a black test stone. This stone will not damage the item as they are made specially for testing purposes. If an item is stamped 10k, then the 10k acid is applied to the streak on the stone and the reaction is observed. If the mark fades completely, then the item is not 10k gold as indicated. If the mark stays bright, this further indicates an authentic piece. For items with 14k, 18k, etc. stamped on them, the same acid test procedure is performed for each type. The end result is much the same. If the streak on the stone stays but fades to brown, then the item is less than the acid test used and needs further testing.


Dealing with the False Positives

We do not rely entirely on the rub test as some heavily plated items may pass the acid test. If these procedures prove to be inconclusive, we also have further electronic testing available that assures you get a fair price on your gold and jewellery.

Step 4: Weighing the Gold

Once we have determined the karat of the gold, the item is weighed on our government certified scale. If the item is 10k for example, we calculate the price by multiplying the weight (in grams) by our gold price for that particular day (for 10k).

Following our tests and calculations, we then inform you of the karat gold, the weight and our price per gram for gold on that day and finally the total price. It’s totally up to you to either accept or refuse our offer, and there is absolutely no charge even if the customer does not wish to sell their gold. Come into Parlour Pawn today for a free appraisal on your gold or jewellery.

What types of gold do we buy?

We accept class rings, tangled gold chains, wedding bands, bent/broken jewelry, items with removed stones, 10k, 14k, 16k, 18k, 22k, 24k scrap gold, gold coins, gold bracelets & necklaces, unmatched gold earrings, gold pins, broaches and more!

Contact Us for a Free Appraisal