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What is 24 Carat Gold?

What is 24 Carat Gold? – A carat is a way to measure the purity of gold or also referred to as fine gold. Gold is divided into 24 parts, or carats, using this method of measurement. Twenty-four-carat gold is solid gold with the complete purity of twenty-four parts out of twenty-four. It is also known as 100% pure gold.

The word carat comes from Greek keratin, meaning carob seed because these seeds were used in ancient times to measure weights of gold and gemstones. The word carat arrived into English via Old Italian and French and was adapted from the Latin phrase caratus, meaning “a carob seed”.

In ancient times, 24 carats was considered too soft for practical use; only coins made out of it. However, gold with a lower purity was easier to work with, so it became the standard. Twenty-four-carat gold is generally reserved for gold coins/bars and sometimes for special applications, such as in some types of Jewellery, watches, or electroplated coatings on solid gold jewellery.

Uses of 24 Carat gold today

The usage of gold is very diverse. Gold has many purposes in various fields rather than just being used for Jewellery. For example, it is used to create semiconductors estimated to be 15% of the world’s gold production goes into making these components.

Not only has gold been used in Jewellery for thousands of years, but it has been used for several other purposes as well. For instance, the gold element is used in manufacturing industries because of its resistance to oxidation and electricity. It also plays a role as a catalyst in various chemical reactions such as petroleum processing, cell phones, etc.

Gold is a soft and malleable metal. It is often mixed with other metals to make it stronger, but the type of metal you mix with gold affects how it looks and its uses.

Yellow Gold

Pure gold is a bright orange/yellow colour. Gold mixed with other metals such as copper and zinc gives a shiny yellow gold which is very popular in the jewellery industry, especially 22ct and 18ct Gold.

White Gold

When other metals such as silver, nickel and palladium are added to the yellow gold, it turns a white colour hence the name White Gold – popular for wedding rings.

Rose Gold

When copper is added to pure gold, it turns a rose colour, hence its name Rose Gold. This combination of metals can also be used in some jewellery, especially rings. It differs slightly from the Yellow and White Gold as there are more pink tones.

How is Gold Purity measured?

The Millesimal Fineness system is based on a thousand parts. It will replace carats and is often just called the percentage of gold in the metal. For example, 999.9 is 100% pure gold. Gold metal is usually weighed in a container where it will be assayed to avoid shrinkage or expansion due to drafts or heat, which may cause it to bulge or shrink.

The purity of gold is measured in carats (ct), 1000ths of 24 parts out of 24 total, so therefore 24k is pure. Therefore, 18ct would be 750 parts out of 1000 total; thus, 18/24 or 75% gold; therefore 75/100 or 75% alloy metal = 750 parts.

Another way to measure the purity is in percentage terms; it will always be less than 100%. So, for example, a piece of 22k gold can be assayed as 75% pure.

What is 24 Carat Gold?

How is gold carat calculated on Bullion coins and Bars?

The purity of gold is measured in troy ounces or grams. The value of your investment coin can be determined by the quantity of pure or refined gold within it. If the coin were minted less than 24 carats, the actual amount of pure gold would be determined based on the carat weight of the coin.

For example, the American Eagle 1oz gold coin’s actual weight is 33.93 grams because it is made in 22ct (916 fineness).

The pure gold content in this bullion coin will be calculated by simply multiplying the actual weight of the coin x the fineness, 33.93×91.67/100 = 31.10 grams (1oz 24ct gold). The 31.10 grams is the amount of pure 24 carat gold contained in this gold coin.

Gold bullion bars in the UK are 24 carat pure gold with a finesse of 999.9 and they are VAT free. 

The physical state of 24ct gold

Gold is found in nature in nuggets or grains, eroded fragments and alluvial deposits (gravel). The gold is extracted by crushing the ore, often with stamps powered by water wheels or steam engines.

As a unit of measurement of weight, carat was first used to measure the weight of diamonds and other precious stones such as pearls. The abbreviation of a carat is “ct”, or the in the United States and Canada it is referred as Karat is “K”.

The physical state of 24ct gold

Gold is found in nature in nuggets or grains, eroded fragments and alluvial deposits (gravel). The gold is extracted by crushing the ore, often with stamps powered by water wheels or steam engines.

As a unit of measurement of weight, carat was first used to measure the weight of diamonds and other precious stones such as pearls. The abbreviation of a carat is “ct”, or the in the United States and Canada it is referred as Karat is “K”.

What 24-carat gold price in the UK today?

Gold price is always fluctuating. This is because it takes a large investment to mine and extracts this element from the ground, so its price depends on the worldwide economy and its uses in industry and technology.

24ct gold price per oz today can be found on our live gold price GBP, USD and EUR. If you’re thinking of investing in gold, consider purchasing a 1 oz gold bar or a 100 gram gold bar. Gold bars offer the lowest premium over the spot price of gold as compared to any other gold investment option. Best value gold bars are also a good option when starting to invest, we have a range of small to large best value bars.   

What is Carat Jewellery or Bullion?

HM Revenue & Customs in the UK define the Investment gold products cannot have purity of less than 900th thousand, which is above the 18-carat gold percentage. For this reason, investors like to invest in bullion bars at 24 carat and coins with 22 or 24 ct.

Fine Jewellery is measured in carats, which contain pure gold. In the UK, the most common carts are 22ct, 18ct, 14ct and 9ct gold jewellery. 18ct Gold Jewellery is the most popular of all.

How are the different gold carats used?

22 carat

22-carat gold is still very soft; however, it is now used to make Jewellery, especially Indian Jewellery and wedding bands. Bullion coins are also made in 22 carats, including Krugerrands, Sovereigns, Britannias from 1997 to 2012 and the American Eagles.

22ct gold jewellery uses pure gold mixed with other metals such as copper and zinc to make it stronger, which results in a shiny yellow colour.

18ct Carat

18ct gold jewellery uses pure gold mixed with other metals such as silver and palladium to make it stronger, which results in a shiny white colour. The 18-carat stamp means that the Jewellery contains 75% gold.

14ct Carat

14 carat gold has a warm yellow gold hue. It is also made into Jewellery, especially wedding rings. 14-carat gold jewellery contains 58% pure gold, so much cheaper than 18carat gold; however, these pieces are deemed below HMRC standard for Investment

12 Carat

12 carat gold jewellery is never heard as it is made from half mixed alloys and half gold. Also, the investment potential in 12-carat jewellery isn’t high because most fine Jewellery comes in 9ct, 14 ct, 18 ct or 22 carats.

10 carat

10 carat is not a good investment grade. It has more alloys in it, and it can get tarnished easier. That is why some places with strict quality standards will not use 10-carat gold or lower grades.

9 Carat

9-carat gold is less expensive than most other types of gold and maybe yellow. Other metals make it stronger and more durable for fashion jewellery. 9-carat gold is the lowest grade of gold that it is legal for a jeweller to sell as fine Jewellery in the UK.

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