Gold doesn’t require any special introduction when it comes to its eternal beauty and elegance. Among all the varieties, 24k gold is one of the most significant and expensive variants that deserves special mention.
When someone talks about pure gold, like in the form of gold bars or gold coins, they are most likely talking about 24K gold. While the value of 24K is high and above all the other variants, you have to understand that 24K is not used for making jewelry due to its softness and its being prone to scratches and damage.
If you are considering learning more about 24K gold, its properties, and also the details about its price and purchase, we have mentioned all the relevant details in this guide.
What is 24K Gold?
24K gold is your pure gold, which is made of 100% gold and no additional alloy metals in the composition. In short, 24K gold is your non-alloyed gold.
To better understand the specifics of 24K gold, let us focus on the following three factors:
1. Purity and composition
If you aren’t well versed with how gold’s purity is assessed, it is done using Karats or K. One karat is equal to 1/24th part of pure gold by weight. Therefore, 24K gold is 99.9% pure gold. It is the highest purity available, making it a symbol of luxury and exclusivity.
2. Color and appearance
Since 24K gold doesn’t contain any additional metals and is a non-alloyed version, the color is a bright orange-yellow color, which sets it apart from the remainder of the lower karat alloys. It has a very rich and warm hue, which is distinguishable from the other categories of gold like 14K, 18K, and 22K.
3. Softness and malleability
One of the reasons the jewelry made with 14K, 18K, and 22K is considered durable and well worth the price and ideal for everyday wear is because the gold is blended with other sturdy metals like copper, nickel, silver, etc. In the case of 24k gold, it comprises 100% pure gold, which makes it a highly malleable metal? Creating intricate designs on 24K gold is easier but the gold is also susceptible to scratches and damages.
If you are considering buying jewelry that’s sturdy, long-lasting, durable, and perfect for everyday wear, 24 K-carat gold is not something that you should be opting for.
How to Distinguish 24K Genuine Gold?
With the rising risks of fraud that are happening in the world, it makes sense that people are curious about how to find genuine 24K gold and ensure that they are getting their money’s worth.
When you are buying 24K gold, the following are a few factors that you need to prioritize:
1. Hallmarks and stamps
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Irrespective of the country, city, or town you are in, the sale and purchase of precious metals like gold are regulated by the local governments. So, if you wondering how to distinguish the genuine 24K gold at a local jeweler, the first sign is to look for hallmarks or stamps.
The authentic 24K gold will be stamped with a hallmark that will indicate its identity. This is the case with other variants of gold too, including 22K, 18K, and 14K as well. If you can’t find 24K stamped, look for “999” or “999.9” on the gold you are buying. This also indicates that it is 24K.
2. Color and luster
If you place 24K gold jewelry or gold bar side by side with an 18K or 22K gold jewelry, you will be able to tell the difference quite easily. In all fairness, it is the color and the luster that gives it away.
Genuine 24K gold has a rich and bright yellow-orange color, while the gold with lower karat has a slightly dimmer yellow color to it. If the 24K gold you are buying looks pale in comparison, that’s a telltale sign that the gold is most likely not genuine and a counterfeit variant.
3. Magnet test
You’d think that just because gold is a metal, it should be magnetic like all the other metals are. But, that’s what sets this precious metal apart from the rest. Gold is not magnetic. So, when you have 24K gold, which consists of pure gold and no additional metals, placing a magnet around it will show no results.
However, if you keep the magnet beside gold jewelry that’s made using 18K or 22K, which have additional metals in them, they do stick to the magnet. This is one of the most effective ways to distinguish whether or not you are buying 24K pure gold or not.
4. Talking to a professional
If you aren’t sure about the authenticity of the 24K gold that you are considering purchasing, you can always go ahead and get some help from professional appraisers. With their experience, they’d be able to tell apart 24K real gold from counterfeit options.
Always cross-check the authenticity and reliability of the seller before you go ahead and finalize the purchase. This is another factor that should help you make a genuine purchase.
What are the Uses of 24K Gold?
Unlike other variants of gold like 14K, 18K, and 22K, which are primarily used for jewelry, the same isn’t always the case with 24K gold. You will rarely come across people buying 24K in jewelry format but it isn’t obsolete as well.
Following are some of the uses of 24K gold:
1. Jewelry
As we mentioned, 24K jewelry is not that common to be made into jewelry but it doesn’t mean that it doesn’t happen at all. In some instances, it is used for making high-end and highly valued jewelry pieces due to the stunning appearance and timeless elegance of the metal. You will find 24K gold being used primarily for designing ornate pieces.
2. Investment
Due to the intrinsic value of 24K gold, it is also used as an investment option wherein people buy 24K gold bars and coins to be able to diversify their investment portfolio. So, if you are looking for ways to wedge against the uncertain economic situations, investing in 24K gold is a great choice.
3. Medical and dental
This might sound a bit unusual but the use of 24K gold is also prevalent in the medical and dental world. It is primarily used in dentistry for crowns and bridges and in a few instances; it is used as medical implants since gold has anti-inflammatory properties in it.
What is the Price of 24K Gold?
Among all the types of gold available in the market, 24K gold is the most expensive and for the right reasons. Since it is 100% pure gold without any additional metals, the cost is significantly higher.
On average, 10 grams of 24K gold will cost you approximately $650.50. However, we all know that gold’s prices fluctuate. So, the price of 24K gold will also go up and down depending on the current market price.
If you are buying 24K gold jewelry, you’d have to pay an additional amount for the manufacturing costs and taxes besides the actual cost of the gold.
How to Care for 24K Gold?
24K gold is one of the most malleable precious metals, which makes it susceptible to damage and scratches quite often.
If you have bought 24K gold in the form of jewelry or bars and coins, you have to prioritize proper maintenance to ensure that things aren’t damaged in the process. Following are a few tips to keep in mind:
- Avoiding scratches and abrasions
Since 24K gold is quite soft and malleable, it is at heightened risk of getting scratched and damaged. What you don’t want to do is further worsen the situation. If you want to avoid these scratches, etc., we’d recommend that you are careful with how you are wearing them and the work you are doing while wearing them.
- Regular cleaning
From time to time, you must clean your 24K gold jewelry or bars and coins with some soap and water. This gets rid of the sweat, dirt, and dust off the gold to ensure that there is no long-lasting damage left.
- Store it properly
Another factor that’s crucial for you to follow when you are caring for 24K gold is to store it properly. Ideally, you have to choose a cool and dry place to store the jewelry. Also, if you are choosing a jewelry box for the same, pick one that has individual compartments so that the damage isn’t too viable.
What are the Disadvantages of 24K Gold?
24K gold makes an amazing choice for investment purposes but it also has its woes. For example, if you are looking for gold jewelry that’s ideal for everyday wear, 24K gold is likely not it.
That said, you also have to keep in mind that 24K gold is very soft, which makes it easier to get scratched and damaged. So, if that’s something that you can work with, we’d 100% recommend that you prioritize investing in 24K gold, given the high-end valuation.
When is Buying 24K Gold the Right Choice?
This is a highly subjective question because everyone’s reason for purchasing gold is subjective. So, if you are buying gold for wearing and in the form of jewelry that you can wear regularly, 24K gold might not be the best option in that regard.
However, if you are considering buying gold because you want to opt for it as an investment option, 24K is possibly the best thing that you can consider. Since it’s 100% pure gold in 24K, you are getting your money’s worth without any additional metal alloys in the mix.
We won’t recommend you opt for 24K gold if you are thinking of buying engagement rings, bracelets, chains, etc. They aren’t the sturdiest when made with 24K gold, despite the purity level.
Bottom Lines
Buying 24K gold can be an expensive affair, which explains why making an informed decision is vital. You want to ensure that you are buying the right kind of 24K jewelry, something that you will not end up regretting in the long run. It can take some time to understand the significance of 24K gold and how to make the right purchase but we hope this article gives you all the relevant details.
