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How much is a gold ring worth? Asked Philipp

How much is a gold ring worth, asked Philipp.

Hi Maria, I contact you because I would like to find out how much is a gold ring worth that I have inherited from my mother. I have no clue about the evaluation of jewelry and I hope you can help me with an independent estimation. I don’t expect much money but the ring has also gemstones so I hope I can get some hundred Dollars for it. I hope you can help me to find out how much is a gold ring worth.
Philipp from Aurora in Colorado

Hi Philipp! Thank you very much for contacting me. I will assist you with the determination of the value and I hope my result will be satisfying for you. Let’s begin with the evaluation! Before we get started, please send me a photo of the ring so that I can better do my job. To see how it looks like is essential. Thank you!
reDollar appraiser, Maria Taint

Philipp wants to know, how much is a gold ring worth

Philipp: Good morning Maria! How are you? I hope you received my email with the requested photos of my gold ring? Do you?

Maria: Hi Philipp! Thank you very much for sending me the photos of your beautiful ring. What a nice piece.

Philipp: Could you find out how much my ring is worth?

Maria: I wish I could be so fast but before I can give you a reliable estimation, I need to know some additional information. Do you know how old this ring is? Or can you tell me more information about the origin or provenience?

Philipp: Well, the ring belonged to my mother, god bless her, who got this ring as a gift from an ardent admirer. My mother was an actress and she traveled a lot. I think this ring is from an Indian businessmen, that’s what my mum told me one day.

Maria: Thank you for this information. So we have to assume that the ring comes from India. That’s interesting to know because the ring has a very rich yellow gold that let me think that the gold alloy must be very rich as well. I think loud, maybe 21K gold. Please check the ring in detail and try to find a marking that tells us more about the gold’s purity.

Philipp: Ok, I will. I’m surprised, I always thought gold is gold. Are there price differences what concerns the gold purities?

Maria: Yes of course! Gold jewelry will be manufactured with different gold alloys. We have 10K, 14K, 18K, 21K, 22K and also 24K gold jewelry. 24K gold jewelry is very rare but it exists. It depends on the origin country, with what kind of alloy the jewelry is produced. In Europe for example we have different alloys that are common for the jewelry industry than in the US or in Arabia for example. The higher the Karat amount is, the higher is the purity of gold and the higher is the price for the gold or the piece of jewelry. One gram of 10K gold has a current value of 17.3 Dollars and one gram of 24K gold has a current market value of 44.6 Dollars. So you can see there is a big difference.

Philipp: Wow, it is! Thank you very much for telling me this useful information. When I will buy an engagement ring for my love, I will also take care of the purity when the jeweler will sell a ring to me. That’s good to know. By the way, I could find out markings that might be interesting for you. There is a marking with “916” and also a sign, looks like a rhombus in a triangle.

Maria: Ah that confirms my theory. I’m very sure that your ring was made in India. The number 916 shows us the purity of gold. For this reason I assume that your ring is made of 22K gold. 916 gold is gold with a purity of 91,6%, it’s also called 22K (karat) gold. This is a wide-spread gold alloy for Indian jewelry. In addition to that you could also find a logo. I think what you found is a BIS logo. That means this logo is the mark from the Bureau of Indian Standard. Jewelers who use this official logo must obtain a license and follow strict guide lines relating to the purity of their marked items. It’s like a quality certification.

Philipp: That sounds good. I’m happy that the quality of gold is so good. What about the stones on my inherited ring? Do they affect the value?

Maria: Well. On your ring we have two types of gemstones. We have rubies and emeralds. Very typical gemstones for Indian jewelry. It’s hard for me to find out the exact quality of the stones but this stones don’t appear to have an outstanding value. We speak about emeralds and rubies of an average size for common jewelry. So we don’t face a fine jewelry with outstanding stones. Nevertheless the design of the ring is very beautiful, it appears like a rising blooming flower, inset with foiled emeralds and rubies. I would say this piece of jewelry was made in the 19th Century. To proceed with the determination of value, please let me know the weight of the ring.

Philipp: Well, I don’t have an appropriate scale for the weighing but I try it with our letter scale.

Maria: A letter scale is perfect for weighing jewelry! Great idea!

Philipp: I could weigh 13.5 grams.

Maria: Ok, thank you. This is not the net weight of the gold. But because the stones are very nice and the ring appears already antique, we would not deduct a weight for the stones. This ring can’t be bought on basis of the weight of gold. This piece is outstanding for its design, the stones and the age. On basis of the given information I would estimate a value $800 for this ring.

Philipp: Wow that surprises me! That’s a great price. Thank you very much for your great evaluation. I could learn a lot about jewelry and I will definitely recommend you to my friends and family. What a grandiose service! And this evaluation was for free?

Maria: Thank you Philipp! Yes, the evaluation is for free, also if you send your jewelry to our laboratories we never charge you for our services, that’s our promise to our clients.

Philipp: Thanks Maria, I can’t believe that such a great service is for free. I will definitely sell my ring with your company. You told me how much is a gold ring worth and your estimation has convinced me.

Maria also answered this questions:

Marcus from Miami in Florida asked: How much is an emerald ring worth?
Joshua from Naperville in Illinois asked: How much is a gold necklace worth?

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