Go for the Gold

One of the benefits of our current depression is that the price of gold hovers around one thousand dollars an ounce. You've seen those ads on TV and in your newspaper.  Friends of mine have reported selling their gold to jewelers and at private Tupperware-like parties. I sought out gold in all the nooks and crannies of my home. After a thorough search I turned up at least 10 items that appeared to be gold.  How can you tell if it is real?

Reaching out into the universe of assembled knowledge, I consulted the oracle of Google and various posts told me that if it sticks to a magnet it is not gold (but just so you know, not everything that doesn't stick to a  magnet is gold. Or the suggestion that if you scratch gold against a piece of unglazed ceramic it leaves a gold mark; if it is not gold, it will leave a black mark. But then you have to damage the item to prove that it is good, which doesn't make much sense to me. And you've heard of gold paint, right? Other more accurate tests involve nitric acid and displacement measurements in a test tube.  The commonly used phrase, "to pass the acid test" comes from the nitric acid test for real gold.

There are varying degrees of gold that buyers will accept, ranging from 10k up to 24k. 10 karat is commonly used in dental fillings. Jewelry over 10K usually bears a karat mark, but sometimes there is no karat sign. The fact that there is no karat mark does not mean that the item is not gold. Gold prices are based on 24 karat or pure gold. Lesser karats are discounted proportionately. 18k is 75% pure gold. 14K is 58.3%, and so on. When you sell your gold the buyer will further discount the price by adding fees to assay and refine it. These fees usually range from 10-20%.

I looked at the little pile of gold I had assembled on my desk. I used to have a lot more gold jewelry, most of which was stolen during a 1980's home invasion in New York. What little I still have holds more sentimental value than anything else. The calendar charm Nana wore on her bracelet with a tiny ruby on my date of birth, an oval pin with my initials that I received at my bat mitzvah, a pair of Dad's cuff links, a vintage gold or gold plated cigarette lighter that had belonged to my Papa, various chains, knotted and broken, a lump of gold with a diamond mounted on it-- a piece of art made from my mother's engagement ring, and my great grandmother's pink gold ring that still I wear to this day.  I struggled with the thought of selling my memories.  Maybe I could part with the broken chains and the lump of gold that was once a ring, but the other items still held too much emotional value and I wasn't ready to part with them for money... yet.

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