FAQ

This information is provided so that you are a well-informed and educated consumer.

“If you have any other questions about selling your unwanted, broken or damaged gold, or platinum, please call us and we will be happy to help you!”

Q | What sort of gold is 24 Karatz interested in buying?
If you have yellow gold, white gold or rose gold jewelry then we can turn that gold into instant cash for you! This can be 8 karat or above and it can be broken or damaged, or even have pieces missing, like an odd earring or piece of a chain.

So, if you have any necklaces or chains, charms or pendants, earrings, rings, gold nuggets, dental gold, bullion or coins that you no longer want, this can all be turned into instant cash!

Q | What sort of gold don't you buy?
Rolled gold, gold plated pieces, electroplated or costume jewellery unfortunately cannot be processed by 24 Karatz. A quick guide is to check the markings on your gold, for example, any pieces marked with the following cannot be purchased by 24 Karatz.

KT GP = “Gold Plated” or “Plum”


KT GF = “Gold Filled”


KT GEP = “Gold Electroplated”


AVON, ‘O’, Oroton, MONET or Roman = “Costume Jewelry”


HGE = “Heavy Gold Electroplate”


RGP = “Rolled Gold Plated” or “Gold Overlay”

Q | How do you test the purity of the gold?
Having the opportunity to test the purity of gold is important for anyone who is thinking of selling their gold. A jewellery item that is stamped as 9kt, 14kt or 18kt etc. does not necessarily mean that it actually contains that level of gold content.

It is a reality that ‘non-genuine’ gold pieces exist in the marketplace and sometimes a lower quality of gold will be stamped with a higher grade marking, or other times it may not be gold at all, but rather layered with gold in such a way that it is not immediately obvious that it is a plated item.

To protect you and to ensure that what you are selling is authentic, it is important to test the purity of your gold and at 24 Karatz this testing is done right in front of you!

There are primarily four steps to testing a piece of gold:

1. The first test is called the ‘magnet’ test and this is done by placing a magnet over your piece of jewellery. If it sticks to the magnet, it could indicate that the piece is not genuine or solid gold (as pure gold is not magnetic).

2. If your gold pieces pass the ‘magnet’ test, the next step is the ‘loupe’ test. This involves using a jewellers magnifying eye-piece to examine any markings on the pieces, such as hallmarks and stamps to indicate the karat content of the piece. Look on the inside of your pieces or an area that is not normally seen if you are wearing it. Please remember, that just because a piece may be stamped as a certain karat, this doesn’t guarantee it is.

3. An ‘acid’ test is part of the final process. This test is done by using a drop of special gold testing acid on a small thin film of gold from your pieces. This process may leave an almost invisible mark on the gold, but in no way devalues your gold. However, this thin veneer of gold is usually enough for the acid to be able to ‘react’ and therefore give a conclusive result for you and our gold buyer.

4. The fourth test involves filing into the piece to obtain a better sample and is only conducted after permission is granted.

Q | How much do you pay for 18kt gold?
24 Karatz pricing is competitive and reviewed daily. We reference the price of gold quoted on the market prices on a daily basis and calculate formulas against each of the various karats – 8 through 24.

We also calculate our daily gold buying rate, taking into consideration the costs of running the business as well as special promotions, bonuses and offers.

Q | How is 24 Karatz different to other traders?
24 Karatz is a retail outlet model and as such we provide a different service to other traders in the market. We pride ourselves on providing the convenience of a local retailer so that you have the opportunity to sell your gold for instant cash* quickly and efficiently.

When you visit a 24 Karatz store, you know that you will be able to openly discuss the gold buying process, with the knowledge that you are trading with a licensed and trustworthy company. 24 Karatz primary focus is to provide our customers with a convenient, efficient service and trusted experience.

Q | What does it mean when 'an offer' is made for the gold, and how do you pay for the gold?
Once we have tested the gold for authenticity and karat content, the gold is weighed and then those numbers are put into the computer and wholesale/second hand price is automatically calculated for your gold. Our lovely gold buyer will then ‘make an offer’ to you for your gold based on that calculation.

If you accept our offer, you will be paid cash* on the spot! It’s as simple as that!

Q | How do you appraise Diamonds??
Depending on the number of stones, we may adjust the calculations to account for the quality, clarity and size of the diamond.

Q | How can I find 24 Karatz?
Simply go to the ‘Store Locator’ page, on our website for your location and select the name of the nearest city centre and a store locations details will appear.

Q | Why should I choose 24 Karatz?
With over 20 years of experience, you can be assured that your items will be highly appraised by our experts!

The whole process is transparent and fascinating to watch and this comes from our commitment to providing excellence in value and service.

You will be paid cash on the spot for your gold, when you accept our offer. So you can use that cash instantly.

All transactions made are descreet

Q | Trivia and other gold facts

  • If half the gold located under the sea were mined, every person in the world would receive 4 kilos of gold.
  • In 1542, Francisco Pizarro took more gold from the Inca in a week than European miners produced in a year. The conquistadors brought so much gold from the New World to Europe that they increased supply by 500% and started the first gold-induced inflation. Other inflations caused by sudden gold supplies happened during the U.S. and Australian gold rushes in the 19th century
  • When used in trade, gold coins wear out in about 18 years.
  • The term “gold” is from the Proto-Indo-European base *ghel/*ghol meaning “yellow,” “green,” or possibly "bright".
  • Gold is edible. Some Asian countries put gold in fruit, jelly snacks, coffee, and tea. Since at least the 1500s, Europeans have been putting gold leaf in bottles of liquor, such as Danziger Goldwasser and Goldschlager. Some Native American tribes believed consuming gold could allow humans to levitate.
  • All silver coins of legal tender are made of Cupronickel or copper-nickel - sometimes incorrectly referred to as 'cupernickel'. (75% copper and 25% nickel). All Gold coins of legal tender are made of 92%copper 6% aluminium 2% nickel