Weight & Purity in Precious Metals
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Weight & Purity in Precious Metals

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Weight and purity are important in determining the value of a piece of precious metal. Learn why, and how weight and purity are measured.

Weight and purity are important in determining the value of a piece of precious metal. Learn why, and how weight and purity are measured.

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    Weight & Purity in Precious Metals Weight & Purity in Precious Metals Presentation Transcript

    • Weight & PurityWeight & Purity What Determines the Value ofWhat Determines the Value of Precious MetalsPrecious Metals Manhattan Gold & Silver | 45 W 47th Street | New York, NY 10036 | 212-398-1454
    • Dealer JargonDealer Jargon • Professions in the precious metals business (such as jewelers, pawnbrokers, and metal refiners) use lots of jargon in their everyday transactions. • Most of this jargon describes the weight and purity of precious metals. – Weight and purity determine the amount of precious metal in a sample. They are the most important factors for determining the sample’s worth. 2013 © Manhattan Gold & Silver2013 © Manhattan Gold & Silver www.mgsrefining.com | 212-398-1454www.mgsrefining.com | 212-398-1454
    • 2013 © Manhattan Gold & Silver2013 © Manhattan Gold & Silver www.mgsrefining.com | 212-398-1454www.mgsrefining.com | 212-398-1454 An Intro to Weight and PurityAn Intro to Weight and Purity • Measures of Weight – Grams – Kilograms – Grains Weight – Pennyweight – Troy Ounces – Troy Pounds – Avoirdupois Ounces – Avoirdupois Pounds • Measures of Purity – Karats – Millesimal Fineness
    • 2013 © Manhattan Gold & Silver2013 © Manhattan Gold & Silver www.mgsrefining.com | 212-398-1454www.mgsrefining.com | 212-398-1454 Precious Metal WeightPrecious Metal Weight • There are many ways to measure the weight of a precious metal sample. However, there are only 3 concepts you need to know: • Avoirdupois • Troy • Pennyweight
    • 2013 © Manhattan Gold & Silver2013 © Manhattan Gold & Silver www.mgsrefining.com | 212-398-1454www.mgsrefining.com | 212-398-1454 Avoirdupois vs. TroyAvoirdupois vs. Troy • “Avoirdupois” refers to the everyday weight system in the US. – It uses pounds of 16 ounces (oz.) • While avoirdupois weight is commonly understood, it is never used by the precious metal industry. • You may know the avoirdupois weight of your gold, but you will need to convert it if you want to sell or trade it.
    • 2013 © Manhattan Gold & Silver2013 © Manhattan Gold & Silver www.mgsrefining.com | 212-398-1454www.mgsrefining.com | 212-398-1454 Avoirdupois vs. TroyAvoirdupois vs. Troy • The troy system of measurement is used by all members of the precious metal industry. – It uses pounds of 12 ounces (ozt.) • The troy ounce slightly heavier than the avoirdupois ounce: – 1 ozt = 1.097 oz. • When dealing with jewelry, bullion, or any precious metal industry – all references to ounces are troy ounces.
    • 2013 © Manhattan Gold & Silver2013 © Manhattan Gold & Silver www.mgsrefining.com | 212-398-1454www.mgsrefining.com | 212-398-1454 The PennyweightThe Pennyweight • The pennyweight (dwt) is a troy unit commonly used by jewelers and refiners. • When you are selling gold or other precious metals, you’ll need to know the weight of your lot in pennyweights. • Using a pennyweight conversion calculatorpennyweight conversion calculator makes this task very easy!
    • 2013 © Manhattan Gold & Silver2013 © Manhattan Gold & Silver www.mgsrefining.com | 212-398-1454www.mgsrefining.com | 212-398-1454 Karats (Purity)Karats (Purity) • Karats (kt) are used to measure gold purity. Karats are determined by dividing the mass of the metal by the amount of gold within the metal and multiplying by 24. – 24kt is equal to pure gold, 18kt is equal to 75% pure, 12kt is 50%, and so on. • Outside the US and Canada, karat is spelled “carat.” – A carat is another unit of measurement used for weighing gemstones (e.g. a 2 carat diamond in an 18 karat gold setting).
    • 2013 © Manhattan Gold & Silver2013 © Manhattan Gold & Silver www.mgsrefining.com | 212-398-1454www.mgsrefining.com | 212-398-1454 Millesimal Fineness (Purity)Millesimal Fineness (Purity) • Millesimal fineness denotes the precious metal in an alloy by parts per thousand. • Millesimal fineness measurements are stamped on jewelry, dining sets, bullion coins, and other precious metal products. – E.g. a platinum coin with an 850 stamp would mean it is 85% pure platinumpure platinum. • When dealing in golddealing in gold, the term “nines fine” refers to millesimal fineness. – Gold stamped 900, or 90% is referred to as one-nine fine. Gold that is 99.9% pure, or 999, is three-nines fine.
    • About MGSAbout MGS Manhattan Gold & Silver | 45 W 47th Street | New York, NY 10036 | 212-398-1454 • Manhattan Gold & Silver (MGS) is a precious metals refiner that has been based in Manhattan’s historic Diamond District since 1985. We are a B2B company that buys and recycles precious metal scraps that accumulate in other businesses. • We serve: – Jewelers – Pawnbrokers – Dentists – The industrial sector – Antique dealers – Machinists – And more! • MGS also creates charts, calculators, and other online tools for our customers to use. – Try our Precious Metals Prices app, which lets you monitor the real-time precious metals market situation from anywhere, right from your iPhone.
    • Recycle your PreciousRecycle your Precious Metals for ProfitMetals for Profit • MGS accepts gold, silver, platinum, and palladium. • Payouts are based on the London Fixing. • Up to 98% payout (among the highest in the US) – Up to 98.5% for gold brought in for hand testing. • Not in NYC? Ship us your precious metals using our Ship & Sell service. Ship & Sell offers: – Same day wired payment (once lot is received) – Discounted, insured shipping – Payout calculator Manhattan Gold & Silver | 45 W 47th Street | New York, NY 10036 | 212-398-1454
    • Connect with MGSConnect with MGS • For amazing facts, history and news, read our gold and precious metals blog. • Join the conversation about precious metals on the MGS Facebook page. • Follow gold, silver, and other precious metal trends at the MGS Twitter account. • Circle MGS on Google+ to hear our latest updates. • If you do business with us, connect with us on the MGS LinkedIn page. • To see precious metal melting and refinement in action, visit the MGS Youtube channel. Manhattan Gold & Silver | 45 W 47th Street | New York, NY 10036 | 212-398-1454