Silver | R & J Jewelry & Loan

How Do You Know If Gold Is Real?

15 Aug 2022
R&J
Bullion / Coin, Gold, Jewelry, Loans, Pawn, Silver, Uncategorized
Comments Off on How Do You Know If Gold Is Real?

Real gold jewelry, white gold, rose gold, and other gold products like gold bars, bullion coins, and other gold pieces are beautiful and a good investment. But how do you test gold for gold authenticity?

Pawn shops like R&J Jewelry and Loan buy, sell, and loan against precious gold. They have experts who can test gold and determine if it is real or fake gold, fool gold, gas station gold, gold plated, or another metal.

The pawn brokers are experts in filtering out fake gold pieces from the real deal. before the pawn shop considers buying or loaning against any precious metal, they test the pieces. This protects the consumer and the shop.

What is Fools Gold?

Fools, gold is not gold. It is the mineral pyrite. The mineral resembles gold, which is why it gained the name fools gold. You can test the gold if you are concerned that the gold you have is not authentic gold.

Counterfeit or Fake Gold

Counterfeit gold, silver, gold bars, bullion, designer handbags, and luxury watches like Rolex are everywhere. Advancements in technology has helped fine-tune the steps counterfeiters go through to create fraudulent products.

To decrease the risk of purchasing a fraudulent product, there are some things you can do to test gold to make sure it isn’t imitation gold or something fake.

First, Do Your Research!

Make sure you are working with a reputable company. You can check the company’s Google Reviews, standing with the Better Business Bureau and other related social media sites. Read what people say. With Google Reviews, the ability to search businesses on the Better Business Bureau or other regulating sites, and social media. It is fairly easy and common to check the reputation of the dealer you decide to purchase your gold bars from. Take the time to research local pawn shops, read the reviews, and ask around.

Second, Do A Visual Test – All That Glitters Could Be Something Other Than Gold

Take some time to look at the gold you are considering. There are some things that you will notice that is unique to genuine gold.

Color: Pure gold is yellow to golden in color. If the gold is white-gold, it is ordinarily a combination of 75% gold and 25% nickel and zinc. Rose gold has a rosy appears because of the gold being mixed with copper alloys.

Pure gold is 99.9% gold and marked 24k, 18k is 75% gold and 25% other metals like silver and copper. 14k gold is 58.3% gold, and 41.7% alloy metals. 10k gold is made up of 41.7% gold, and 58.3% alloy metals. Because of the alloys used, 10k gold is a pale yellow color.

Tarnish:

Gold does not tarnish. The metal is bright. 24k gold being the purist will be soft and easy to bend.

Shape:

Gold is typically found in particles with slightly rounded edges.

Third, Weight of Gold – Real Gold Won’t Pass the Float Test

Real gold is dense and heavy. Gold is weighed in troy ounces (31.1 grams). Did you know that if you drop a fake gold bar in water, it will float? Genuine gold will sink straight to the bottom. So if the gold item floats, it’s fake.

Fourth, Bendability

Gold in its purist form, 24k, is pliable. This is why most jewelry is made from gold that is not 24k, because gold has an incredible ductility, which means it bends and dents easily under pressure.

Fifth, Magnet Test

Get a strong rare earth magnet, which you can purchase from a hardware store. Touch the gold you are considering buying to the magnet. The magnet won’t hurt the gold. If the gold piece sticks, you are likely to have counterfeit gold. Pure gold is not magnetic.

Sixth, If the Price Is Too Good, Tread Cautiously

Gold sells according to the current “spot price”. The spot price is the market price of gold, and it is based on supply and demand, and thus ebbs and flows with the current economic conditions. World events, consumer spending, interest rates all affect the economy.

You can look up the spot price of gold or any precious metal. If the spot price is high, ask yourself if the huge discount you were offered because the gold piece you were considering isn’t real? It’s okay to question is the deal too good to be true?

Sometimes people or companies selling fake gold jewelry, gold plated jewelry as real gold, gold filled products as real gold, or other gold counterfeits will try to hook you with a deal. Most valuable metals come with a fair spot price, not cheap.

Seventh, Self Test Gold with Liquid Foundation – The Skin Test

Did you know you can use some liquid foundation makeup and rub the gold against it on your skin? If it leaves a black streak, it is likely gold. Find a friend with anemia or low iron. The same will happen, because the gold reacts to the blood’s hemoglobin.

Eighth, Test Gold At Home with A Few Drops of Nitric Acid

You could test a gold piece of jewelry with nitric acid. Make a small scratch, so that the scratch penetrates the top layer of the gold. When you place a small drop of nitric acid on the scratch, see if the mark turns green or milky. If there is no reaction, the gold piece is probably real gold.

Unfortunately, nitric acid is a dangerous chemical, so you will need gloves, goggles and a well ventilated area to test gold.

Nineth, Look at the Plastic Wrapping or Packaging If You Are Buying Gold Bars

If you consider buying gold bars or gold bullion, they will come in a plastic wrapper. Fake gold bars come in thicker plastic because they hide the bar’s weight. It also distorts the details on the bar’s surface, so you may not notice imperfections or missing details.

Nearly every gold bar or piece of jewelry comes with a hallmark. The hallmark tells what karat weight the piece is and if it is 24k, 14k, 10k, or karats in between, like 18k. The mark can be manufactured so it “appears” you may notice some flaws.

Some gold bars have a layer of gold, and then they are filled with tungsten or another alloy, making them feel heavy and real.

Tenth, Stamp Test

Gold bars are fraudulently stamped with the logos of major refineries. The fakes are often difficult to spot, and because of this, fake gold bars are ideal fund runners. There are several million bars stamped with refinery logos that weren’t actually produced by those facilities, reported JPMorgan Chase & Co. The fake bars are highly professionally done.

When you look at the marking, use a magnifying glass to validate the purity of the numbers and stamps. Look for the hallmark and letter mark. Sometimes the marks are hidden under a clasp or in another inconspicuous place on the gold piece. The hallmark is the international standard, which defines the purity of valuable metals. Remember, it is not beyond fraudulent brokers to engrave these themselves, making gold plated jewelry appear like real gold.

Eleventh, The Ceramic Scratch Test

You can take a piece of unglazed ceramic tile or plate and lay the tile on a flat surface. Scrape a piece of gold across it, and real gold will leave a gold mark or trail. Other metals will leave a black trail.

Genuine Gold Facts:

Gold Purity and the Karat System

Gold has different purity. All gold spot prices are based on gold being 99.9% pure.

24k gold is considered “pure” gold without traces of other metals. 24k gold is soft and bright yellow. It is mainly used in gold bars, bullion, and coins.

18k gold is 75% pure, 14k is 58.3% pure, and 10k is 41.7 pure.

The weight of gold is measured in troy ounces; however, its purity is measured in ‘carats.’ Since the spot price of gold is based on gold being 99.9% pure, the more other metals are in the gold, the less refined, the less it’s worth.

Shop Wisely – eBay, Marketplace, and Other Online Requests

These forums may increase the risk that the gold bars, bullion, and rounds you want to buy for good money may be fraudulent. Make sure the price matches what you are buying. There may be a concern about cheap gold and a huge discount.

Pawn Shop

As a shopper of gold, it may be the best place to shop. If you are a seller, they are happy to work with you to get you a fair market value offer. If you create a relationship with the pawnbrokers, read the feedback from other shoppers, and visit the store often, you will learn quickly that the company’s delivery on their promises is 100%.

R&J Jewlery and Loan

You may have old gold jewelry in your jewelry box, or you inherited but don’t care for the style. You might have decided to by some gold and now you wonder if it is real gold or worth anything.

You’ve read all the ways to test gold at home, and you are not convinced this will give you the answers you need. R&J Jewelry and Loan have experts who can help. Gold, silver, and precious metals are their business, and they have years of experience determining what metals are real and what aren’t.

They will buy gold in any form or condition, including coins and gold jewelry. They use fair market prices, and they don’t play games.

R & J Jewelry & Loan, is a trusted pawn shop in San Jose, CA area, and they pay cash for various products. Gold, diamonds, jewelry – you name it, they can help.

Gold Buyers San Jose & Loan pays cash for a wide range of items, gold jewelry, gold coins, silver, gold pieces in new or used conditions, gold bullion and other precious metal products.

They will test all items, and their process is professional and transparent. They will let you know what the gold content is of your piece and what the current market value is, making you an offer to buy or loan against your piece. The decision is yours. R&J Jewelry and Loan loves gold items, and they will work closely with you so your needs are met.

Are There Aftermarket Rolex Watch Bands For Pre-Owned Rolex Watches?

04 Jul 2022
R&J
Fine Watches, Gold, Jewelry, Loans, Luxury Watches, Pawn, Rolex, Silver
Comments Off on Are There Aftermarket Rolex Watch Bands For Pre-Owned Rolex Watches?

When a Rolex watch comes straight from the manufacturer it is fitted with a unique and specific type of bracelet or strap made exclusively for the watch style. The brand or bracelet accents the watch’s personality and style.

Rolex watches come with bracelets and bands that exemplify excellence known throughout the world. The Oyster Perpetual Submariner is the divers watch with a black dial and a Rolex bracelet. The Explorer II offers a white dial or “polar” dial which is a popular choice amongst watch enthusiasts.

Most Rolex watches don’t come with different watch band options like other brands may offer. The GMT-Master II is one exception.

Aftermarket Watch Bands and Bracelets

A Rolex owner may decide to change the band or bracelet because of design and style, to protect the original bracelet, or because the original band is worn.

Buying a replacement Rolex watch band is complex. Rolex doesn’t supply all Rolex stores with replacement bracelets and the cost associated with buying an aftermarket band can be pricey.

If you decide you want to buy an aftermarket band you have to have the watch you are intending on replacing the band so the right selection can be made. The model of the watch will determine what is available.

It is difficult to buy a genuine Rolex band separately. As part of the watch services provided by Rolex, they include an option to change the bracelet on the watch on an exchange basis. The worn band is replaced with a new one.

If you are lucky and you find a genuine Rolex band you can buy separately, the band will have to fit your watch because each model has different watch band configurations.

Rolex retailers may not have all the bracelets in stock. This means it would need to be ordered which could take days or months.

Some Rolex watch bracelets can cost US$15k dollars to upwards of US$20k. The cost is dependent on the model of the watch you own. For a regular steel Jubilee bracelet, the band will run about US$2000.

Better Than Replacing the Band – Protect the Original One and Save It

A Rolex runs best when worn. However, a drawback to wearing your watch is the band may become scratched or worn. Sometimes a Rolex owner may decide it is better to put an aftermarket band on their Rolex to protect the original band.

An original Rolex band that is not scratched or broken increases the value of your watch so make certain you store it safely.

Each watch band has a style and purpose depending on the occasion. Sometimes a leather watchband is more suitable than and metal bracelet.

When you own a Rolex rather it is a new or a used Rolex, finding an aftermarket watch band that fits may pose a challenge. Each aftermarket band available was made to fit a specific Rolex model. This is because different Rolex watches have different lug designs. The aftermarket band needs to have great precision in order to fit.

The aftermarket bracelets will say which models they fit. The band needs to fit against the case and needs to fit as nicely as the original band.

Lug Width

Lug width is important when fitting an aftermarket band and is sometimes referred to as horns. The projections are used to hold the bracelet or band to the watch case. Bands that have curved ends with end links that integrate precisely with the case must be exact to create the perfect fit.

Spring Bars

Some of the Rolex watches have two spring bars. A spring bar is a tiny bar that holds the watch straps in place. Some metal straps have for or even six spring bars depending on the watch brand. Don’t assume you can use the same original spring bars for an aftermarket brand.

Rolex only makes one rubber strap which is the black Oysterflex bracelet. It is expensive and difficult to get.

When you shop for pre-owned Rolex watches you want to know about the quality of the watches you are considering buying, understand the last date the watch was serviced, and how long the watch has been in the store. You may want to look at and determine the condition of the bracelet or strap before you purchase the watch so you know what you are going to have to do to get a replacement aftermarket alternative.

Rolex USA has various service centers across the US. The company has an easy way to search for a center central to where you live in the event you would like to have your pre-owned watches serviced. The website is available at https://www.rolex.com/watch-care-and-service/servicelocator/unitedstates.html.

The certified service centers guarantee their work and the experts will give your timepiece a complete overhaul. They may have you send in the pre-owned Rolex you bought so you may have to wait for it to be returned. During the service, they will offer to replace the band on exchange. This service isn’t included in the regular price charged for servicing your Rolex.

R& J Jewelry and Loan Serving Los Angeles Residents

A shop like R& J Jewelry and Loan located in Los Angeles, CA provides expert pawn service to Los Angeles residents. They have a watch expert with over 20 years of experience.

The shop is a luxury pawnshop with a revolving selection of fine luxury watches including Rolex. The experts at the shop know and understand Rolex and will help you find the best Rolex watches to meet your need. They will consider buying or loaning on almost any luxury brand watch that is in good condition. They understand Rolex service, Rolex bands, and what they have in inventory. If you need a one-on-one conversation with a pawnbroker to sell or get a loan using your Rolex watches as collateral they are happy to set up an appointment. They sell the best-used Rolex watches in the city.

They also understand what it takes to find a pre-owned Rolex watch and quality watch band or aftermarket band. Make sure to take with the pawnbroker so you know what to expect. The watch expert will know the pros and cons of aftermarket Rolex bands for their large selection of pre-owned Rolex watches.

If you want to purchase a pre-owned rolex from a place who carries registered trademarks of Rolex USA like Explorer, Rolex Perpetual and Pearlmaster, stop by R & J Jewelry and Loan today.

How To Sell Gold and Silver Bullion and Coins.

04 Apr 2022
R&J
Bullion / Coin, Gold, Loans, Pawn, Silver
Comments Off on How To Sell Gold and Silver Bullion and Coins.

With the price of gold and silver going up and then down a bit, how do I know when to sell and when to buy?

The adage of selling high and buying low applies to almost everything in the commodity market. Gold dipped to $1835 per ounce and then shot back up to its highest price in March 2022, selling for $2056 an ounce. Watching the market and the spot price of precious metals is the key to getting a fair price for your old silver, gold, and silver coins, silver bars, scrap silver, sterling silver, bullion, and other precious metals.

Why is gold and silver spot price going up and down?

In late February 2022, the USA warned that Russian intended to invade Ukraine. There is tension all over the world with what is going on abroad. The United States has sent troops from Ft. Bragg, NC, to Poland as a part of NATO to help Ukraine people flee to safety. The U.S. is supportive and has sent Ukraine ammunition, small arms, and other defensive weaponry.

During times of global tension, the market price of gold and other precious metals goes up and will fluctuate as situations change.

According to experts, the federal interest rate is expected to continue to rise at least six times during 2022. It is presumed that the interest rate will be greater than it has been since 2005.

Since March 2020, the feds have purchased $4.5 trillion in treasury bonds and mortgage-backed securities to stabilize the financial system and lower long-term rates for consumers and businesses.

Inflation is here and ugly right now, contributing to economic uncertainty and how the spot price of gold and silver fluctuates.

Bank loans will cost more, gas prices are soaring, and food prices and supplies are waxing and waning, contributing to how consumers spend their money. Things like farm equipment, employees, etc., are reduced so businesses can watch their spending.

Individuals and companies are trying to save because interest rates may increase even more. When individuals and companies take a conservative approach to spend their money, money becomes less available, and spending decreases.

Spending Cautiously

Consumers are more likely to approach spending with safety. They are slow to burn through reserves right now, anticipating a rise in interest rates and other risks that may be on the horizon.

These things all affect gold and silver spot prices, and buying them is an investment during periods of political and economic uncertainty. Half of the gold consumption in the world is in jewelry, 40% in investments, and 10% in industry.

Gold holds its value in weak economic environments.

Investors are flocking to gold and silver bullion during the last year to protect their business and personal wealth. Gold and the U.S. Dollar

As the U.S. dollar rises in value, the value of gold falls. The same is true inversely. The strength of the U.S. dollar is related to interest rates. Gold may be far more efficient than cash as storing wealth. When you look at inflation, currency may lose value.

Gold is recognized as having a long-term record of stability, and investors are making it a part of their investments today.

Spot Price, What is it?

When buyers buy gold, sellers will raise the price, and buyers will buy lower if sellers are flooding the market. The influences on the price are extensive.

When the geopolitical and economic situations are tense, gold prices go up and the current silver price. Currency markets are a driver in the spot gold price. As the dollar rises, it makes gold relatively more expensive for foreign buyers and can cause declines in the spot price. Inversely, gold prices rise as the dollar weakens, and gold is less costly for foreign investors.

The price of gold and silver is based on someone buying the precious metal “on the spot” or, in other words, at a specific moment in time, it is paid for and delivered. The price will fluctuate with the market.

If you want to sell your silver or gold, remember to sell it when the price is high, so you get the most money possible. If you will buy silver or gold, make sure that you do so when the market price is lower to invest in for future sales.

Troy Ounce

Gold and silver are bought in a troy ounce. A troy ounce is a unit of measurement and equals 31.1034768 grams or 1.09714286 ounces.

Purity

Gold price is based on 24k gold or the purest form of gold at 99.9% pure. Like gold, silver prices are based on pure silver or .999 silver. The object will be marked 999 or 99.9% pure silver.

How the spot price is calculated is critical to understand as you get ready to buy and sell gold and silver because you will get paid according to how much silver and gold are worth on the current market at a specific moment in time.

Knowing that the price is based on the purity of the precious metals makes it possible for you to determine what a fair price would be to compare prices when trying to sell online or in-person like to a local pawn shop.

Several places buy and sell silver and gold. Most of the valuable silver items you find on the market are made of sterling silver, containing 92.5% silver. Pure silver is too soft and malleable for making jewelry, flatware, and other objects. The same is true for 24k gold, and it is slightly softer and scratches easily. This is why most jewelry is made from 18k, 14k, and 10k gold. You will also get a better price on jewelry made from 14k and 10k gold at a jewelry store because it is less pure. The purchase price of jewelry depends on the purity of the metal used in the jewelry and what gemstone is included.

Do Research Before Buying and Selling

Bullion coins, silver coins, silver bars, and bullion all sell well when considering selling precious metals. A bullion dealer, an online dealer, a local buyer, auctions, pawnshops, and private buyers will all buy and sell gold and silver.

Make sure that whomever you are dealing with is a reputable buyer.

You can research online reviews, check with the better business bureau, and look for details on a dealer’s website to decide if the shop you are dealing with is a safe place to sell and get a reasonable price.

Online Dealer

There is always a long list of online dealers when you search for selling gold and silver. Online ads will pop up regularly saying where you can sell your silver and gold. Selling your silver and gold online is an excellent way to do comparison research, and it allows you to interact with different dealers worldwide. You can compare silver prices.

Online dealers buy numismatic coins and bullion coins throughout the world. They will often give the best price but remember, a sale will involve shipping costs. Goldsilver.com is an easy place to buy and sell silver online but remember you will have to wait for payment, so the payment isn’t instant.

Coin Shop

A local coin shop or coin show may be an option to buy and sell silver and gold. Coin shops also have a retail market they work with, and they know what a fair price is for collectible coins. Silver coin shows are a great place to take your silver coins if you want to sell them. These shows have interested buyers, so you may be able to move your coins quickly. It’s also fun to see the random collection of coins.

Private Buyers

Private buyers on Craigslist or online will also buy silver and gold. Private buyers may be willing to say they will pay more for high-quality items, but there is always the risk associated with private buyers. Safety is vital in these transactions.

Online Auctions

Online auctions like eBay can be another place to sell your gold and silver. These have large audiences multiple bids, and you could get a good price, or it could be undersold as well. Unique silver items like antique silver flatware may do well on an auction. Multiple bids can help in the selling process, but you will still have to wait for your funds until after the auction closes and a deposit is made.

Pawn Shops

Pawnshops are an excellent place to visit if you are in the market to sell or buy silver and gold. Having experts who know coins, silver coins, gold, fine jewelry, scrap silver, silver bars, silver bullion, sterling silver, junk silver, and bullion coin, pawn shops are considered gold buyers.

Pawn stores can be found locally, making it easy to visit and speak with an expert in person. They have large retail showrooms where they sell silver, gold, coins, sterling jewelry, and gold and diamond jewelry. Some pawn shops are like jewelry store with more affordable prices.

Because pawnshops have experts who can appraise your valuable silver, they can tell real silver from fake and what purity your gold may be. The selling process is easy because an offer is made once appraised, and you get cash immediately if you agree with the offer, and there is no waiting.

If you want the most cash you can get in an expedited process; a pawn shop may be the answer. If you have silver and gold jewelry you don’t wear anymore, and maybe they have silver markings, it may be an excellent time to gather them up and see what your selling options are at a pawnshop.

Pawnshops will appraise gold and silver items like silver rings with silver hallmarks, silver flatware, old silver, junk silver, sterling silver, gold bullion, gold coins, and more. They also consider luxury items like Rolex, diamonds, and luxury handbags.

As you look through your things and decide if you are in the market for buying silver or selling gold or both, look at what you have that might be silver plate, electroplated nickel silver, or sterling silver.

Silver plate and electroplated nickel silver may not be worth as much money but may have some value to a pawnshop. Plated silver will be marked with a PNS. Sterling silver will be marked with a 925 because it is 92.5% pure silver.

Scrap silver and scrap gold are worth money and typically are broken pieces of jewelry. The pawn shop will buy these items, act as the middle man, and send them off to a refiner for melting after they are purchased.

Living in San Jose, CA and Need a Reputable Bullion Dealer?

R & J Jewelry and Loan

At our family-owned and operated pawn shop since 1978, we have built our reputation on personalized services and our extensive jewelry selection in a variety of price ranges. We strive to set ourselves apart from other pawnshops by offering real money for your items.

Fair and reasonable offers are how we do business.

At R & J Jewelry & Loan, we will buy your items or give you a cash loan to get you through the rough times. We buy gold, silver, gold bullion, diamonds, silver jewelry, and luxury handbags and watches. We are a reputable dealer, and we will treat you somewhat, getting you the most money for your things.

If you have gold jewelry, silver with silver hallmarks, Rolex or other luxury watches, diamonds, silver jewelry, we want to offer you free appraisal services to get you the best price.

We also have an extensive retail store with affordable prices to buy valuable silver items, gold items, luxury watches, or other fine jewelry if you are in the market.

Here at R & J Jewelry & Loan, we pay cash for a wide variety of products. Gold, diamonds, jewelry – you name it, we can help. When you come to our pawn shop in San Jose, CA, you can be sure you’re dealing with EXPERIENCED and dependable professionals. Trade your unwanted items at our pawn shop.

We will buy, sell and trade all types of items like Jewelry, Gold, and Luxury Accessories.

Gold Buyers San Jose & Loan will buy Gold Bullion in San Jose, diamonds, and jewelry, and the pawnshop accepts unwanted things.

We will purchase, sell, and exchange goods. We are the leading Gold Coin Buyers in San Jose, CA, to buy your scrap gold.

Clear said, “We are currently buying gold in any form or condition, including coins and jewelry. Fair market prices paid, no games. Bring your gold to our pawn shop in San Jose, CA, and get instant cash on the spot.”

Reviews Say It all When You Do Comparison Research

Loans

“Fantastic service. I needed some bridge loan funds for a couple of months. Brought in my Patek and A.P. and was funded that day They worked with me, very professional. I picked up my watches last week, never could be more happy.”

Jewelry – Retail

“For being a pawn shop, the jewelry and display setup they have is very impressive. They offer a surprisingly wide selection of jewelry for both men and women, and you can ALWAYS catch a good deal. I wanted to get a new watch, so I stopped in, and sure enough, I was able to find a great deal on a lightly used Rolex that I loved!”