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When you sell gold to us, we will explain every step of the process to help you understand how selling gold works. With your XRF Precious metals Analyzer, we can test your gold to know exactly what purity your gold contains. This helps us assess your gold to give you the most when you sell.
Is it time to grab your gold pan? Many believe we are seeing a new Gold Rush in California following the winter storms we had earlier this year. Because of the large amount of rain and snowmelt, rivers and streams are running at faster rates than we have seen in a very long time. This has led to many gold miners believing that it’s enough movement to loosen up the gold deposits in the mountains. Many modern-day prospectors are calling it the “Gold Rush 2.0” and are heading out in hopes of striking big.
Nick Prebalick, the owner of California Gold Panning in historic Jamestown, says that “the strong currents from the heavy rains have cleared out much of the debris in waterways, helping to better expose gold nuggets. It also cleared all the sediment,”
Prebalick continues, “You used to have to dig three more feet to get down to the bedrock where the gold is,” he explains that bedrock is the heaviest material that settles at the bottom of rivers and creeks. He says the rain “Cleared everything out, so it’s really easy to get down where the gold is now.”
However, we don’t believe that another Gold Rush is happening at any time in the near future. Our owner, Michael Brewart, explains that “We haven’t been getting any people coming in with any [larger than normal] quantities or any amount in the last couple weeks, but I have heard that with the weather that there’s a lot of interest in trying to find gold.”
So while some people think that a surge in gold is imminent for the near future, we haven’t seen any actual proof of this yet.
Although another Gold Rush doesn’t seem likely, we are still open for business! If you have any gold or silver items including jewelry, coins, bars, or bullions you’d like to sell, come visit California Gold and Silver Exchange’s office in Upland, California. We also sell gold and silver for those looking to purchase from a reputable seller. Contact us if you’d like to make an appointment.
The Chinese culture has a very long history with gold. In Chinese culture, gold represents wealth, power, longevity, and happiness. Gold is often considered to be one of the most valuable and significant gifts one can give. This is why it’s often given at important life events such as birthdays, weddings, childbirth, and the New Year.
China notoriously has a very high standard for gold which can make it a sought-after commodity. Many people get Chinese gold as a gift or purchase it in China or Hong Kong without actually realizing its true value.
Where Chinese Gold Comes From
China is not only one of the largest consumers of gold, but they are also the world’s largest gold producer. The majority of the gold in China comes from one of the Chinese gold-only Northern China craton margins. Gold is also often mined in the eastern provinces of Shandong, Henan, Fujian, and Liaoning. There have also been slight increases in gold production in some of China’s western provinces such as Guizhou and Yunnan. The gold mined from these reserves is often stored in vaults in Beijing.
Why It’s More Expensive than Other Gold
While all gold is the same no matter where it comes from, Chinese gold is often marked at a higher price tag than gold from other countries. This is for two reasons:
- The world’s gold supply is low right now.
- Demand for gold is offset for all types of gold; however, Chinese gold is often 22 karats.
Chinese or Hong Kong gold is often marked with “999”, “9999”, or “999.5” to indicate its purity. Chinese gold may also be marked with Chinese symbols that indicate its purity:
| 足金 | 千足 | 万足 |
|---|---|---|
| 99.0% minimum purity | 99.9% purity | 99.99% purity |
We Buy Chinese Gold
At California Gold and Silver, we can buy and sell high-quality metals at a fair price. You can contact us to schedule an appointment or visit our office in Upland, California. Please feel free to reach out with any questions you may have!
Have you been thinking about selling some of the gold or silver jewelry you have laying around at home? If you have, you may have wondered what we do with it once you sell it to us. We’ll give you a hint: we don’t resell it. What happens instead is that it gets repurposed into gold and silver bars or bullion.
We do not resell your jewelry.
While reselling jewelry may seem like the obvious thing to do, it doesn’t quite make sense for us as gold and silver traders. It’s easier to invest in gold and silver in a bar, bullion, or coin form than when it’s jewelry. This is the main reason we don’t resell your jewelry. Instead, we repurpose your jewelry into more investable materials.
It’s melted down into gold bars or bullion.
After you sell your jewelry to us, it gets melted down into gold and silver bars and bullion to make it easier to invest in. Your jewelry is heated to a very high temperature before it’s poured into a mold, then cooled to form a gold or silver bar. You can see examples of this process in the video below.
Check out this video to see how gold jewelry and scrap is melted into bars and bullion:
*Do not attempt to do this at home. This process should only be completed by professionals.
Ready to sell your gold or silver jewelry?
If you are ready to sell your gold or silver jewelry, contact us at California Gold and Silver and set up an appointment. Have questions? Check out our FAQ.
