Marks
Most countries have legal requirements that precious metals be marked or stamped with their content. Be sure to find out what the marks mean in the country you are in and check that everything you buy is marked. This information is crucial because 24K is pure gold or 100%, 18K is 75% gold, and 14K is 58.5% gold. In order to calculate the right price of the gold you are buying, you can multiply the percentage of the gold by the current London or New York gold price. This will give you the price of the gold excluding labor so you will know exactly what you are paying.
Weights and Measures
Precious metals, such as platinum, gold, and silver, are weighed in either grams, penny weights, or troy ounces. There are 31.1 grams in a troy ounce of precious metal, or 20 penny weights. If you are buying jewelry by weight, be sure to check the scale has been set to zero before it is weighed and the weight and karat of the gold is written on the receipt. If possible, pay with a credit card so you have the option later of disputing any charges if you find them to be inaccurate or the goods to be fraudulent.
Price
Different countries value and price their jewelry based on a variety of costs. Most of them, however, price it by the weight of the gold and the labor involved. Use the formula listed above in the “weights and measures” section to calculate the price of the gold based on weight and add for the labor to determine if the price listed is a fair price. Labor prices per gram or penny weight vary, but can usually range from $1-$9 per gram depending on the intricacy of the work. Exchange rates can vary, so ask the jewelry vendor what kind of payment will yield the best deal for you. Always get a receipt for future reference and keep it safe in case you need it in the future for insurance or resale. Be a wise consumer and make sure the vendor’s name or contact information is prinbted there so you can notifty them if something turns out to be misrepresented. Then at least you can warn your fellow soldiers.