Buying guide

Buying fine gold or platinum jewelry at record metal prices: the karat mark, the maker’s trademark, and the metal you’re paying for

Updated October 28, 2026 · Written by the House of Biz & Company Editorial Team · General information, not legal or financial advice

With gold above $4,000 an ounce for a year now, the metal in a fine piece is worth more than it has ever been, and the stamp inside the band carries real money. Here is what the federal rules say each mark means, how to see the metal’s share of the price for yourself, and what to ask before you pay, so you buy with the assurance of someone who knows exactly what they hold.

We don’t sell, broker, or consign jewelry, watches, or precious metals, and we don’t buy them. Only for the Wealthy is a publisher, and this is general information, not legal, tax, or investment advice. Metal prices move daily; nothing here is a price quote or a prediction. We are not affiliated with any jeweler, refiner, laboratory, or trade group named here, and we earn nothing from them.

Why this matters now

Gold has spent a year in territory it had never seen. The LBMA Gold Price first broke $4,000 an ounce on October 7, 2025, reached a 2026 high of $5,501.70 on January 29, and through the third quarter of 2026 settled mostly between $4,000 and $4,400, with a quarterly range from $3,978.55 on July 1 to $4,663.70 on August 24 [2]. The same report shows how differently the white metals have moved: from January 1 to September 30, 2026, gold was down 4.06%, platinum down 19.60%, and palladium down 25.53% [2].

Buyers have responded the way connoisseurs do. The World Gold Council reports that second-quarter 2026 jewelry demand fell to 278 tonnes, its lowest quarterly volume since the pandemic, while spending on gold jewelry rose 14% year on year to US$40 billion [1]. Fewer grams, more dollars per piece: when the metal itself costs this much, every word stamped inside a ring or on a clasp is worth reading closely. Here is what those marks legally mean, what the metal in a piece is worth on paper, and the questions that separate a fine purchase from an expensive surprise.

What the karat mark promises

Karat measures how much of an alloy is pure gold, in parts of 24. Pure gold is 24 karat; 18K is 18 parts gold and 6 parts other metals; 14K is 14 parts gold and 10 parts other metals [4]. Many pieces, especially those made in Europe, carry the same information in parts per thousand instead: 18K is 750, and 14K is stamped 583 or 585, depending on the rules where it was made [7].

Mark you may see	What it means
24K, or “gold” with no karat	The unqualified word “gold” describes only fine, 24 karat gold [3][4]
18K or 750	75% gold, 18 parts in 24 [4][7]
14K, 583 or 585	About 58.3% gold, 14 parts in 24 [4][7]
9K or 9 Kt.	A permitted marking under the FTC’s Jewelry Guides, which use “9 Karat Gold” as an example of an acceptable description [3]
Pt950, or “platinum” with no number	At least 950 parts per thousand pure platinum [3][4][7]
850Plat.	85% platinum; the other 15% can be platinum group metals or base metals [4]
800 Pt. 200 Pd.	80% platinum, 20% palladium [4]

Three rules in the Guides matter most to a buyer. Whenever a seller calls an alloy “gold,” the karat must come immediately before the word and be at least as conspicuous [3]. A gold piece with a hollow center should disclose that next to the word “gold,” and should not be called “solid” [3]. And a quality mark that applies to only part of a piece should say which part [3].

The marks are also held to a tolerance. Under the National Gold and Silver Stamping Act, the gold in a marked article, tested without solder, may not fall more than three parts per thousand below its mark; with all the solder assayed together, the limit is three parts per thousand for a watchcase or flatware and seven parts per thousand for any other article [5]. An 18K bracelet with soldered links, in other words, must assay at no less than 743 parts per thousand.

The name next to the mark

A karat stamp alone is only half a promise. Federal law requires the manufacturer or dealer who applies a gold or silver quality mark, or who imports an article bearing one, to apply its own trademark, registered or applied for with the U.S. Patent and Trademark Office, before shipping it across state lines [6]. The FTC’s buying advice is blunt: near the karat mark you should see the name or U.S. registered trademark of the company that stands behind it, and if you don’t see a trademark with a quality mark, don’t buy it [4].

Note what the law does not require. The FTC points out that most jewelry is marked with its karat quality, but marking is not required by law [4]. An unmarked piece is not automatically suspect, especially an antique, but it shifts the burden to the seller: ask for the karat in writing on the invoice, or for a test result.

Plated, filled, vermeil: the words that mean “not solid”

A surface of gold over another metal can look identical to karat gold across a showroom counter. The Guides define each term precisely [3]:

Gold filled: a layer of at least 10 karat gold mechanically bonded to a base metal, making up at least 1/20th of the weight of all the metal in the piece. It must be marked with the karat of the layer, for example “14K gold filled” [3][4].
Gold overlay, rolled gold plate (RGP): the same construction with a layer of at least 1/40th of the metal’s weight; below 1/20th the marking must state the fraction, as in “1/40 14K gold overlay” [3][4].
Gold electroplate: at least 10 karat gold, electroplated to a minimum thickness equivalent to 0.175 microns of fine gold; “heavy gold electroplate” requires 2.5 microns [3].
Gold flashed or gold washed: an electroplating thinner than 0.175 microns, which wears away faster than any of the above [4].
Vermeil: sterling silver plated with gold of at least 10 karat, at least 2.5 microns thick. If a layer of base metal such as nickel sits between the silver and the gold, that must be disclosed [3].

Each of these can be honest and attractive. None of them is a gold piece in the sense that matters for the price of the metal, and plating eventually wears through, how soon depending on how often the piece is worn and how thick the plating is [4].

White gold, platinum, and the rhodium question

White gold is gold alloyed with white metals such as nickel or palladium, copper, and zinc, and it is usually plated with rhodium for a whiter look and better shine [7]. Two consequences for the buyer. First, the rhodium wears away over time and the piece will need replating, so ask whether the jeweler will replate it [7]. Second, because of that plating it can be hard to tell 14K from 18K white gold by eye; the stamp, not the color, tells you which you have [7]. The Guides treat the plating as a material fact: failing to disclose a surface layer of rhodium on a product marked or described as precious metal is unfair or deceptive [3]. If you are sensitive to nickel, ask what the white gold is alloyed with; GIA notes that people allergic to nickel should avoid white gold made with it [7].

Platinum is denser and stronger than gold, and GIA notes it is less likely to break at the prongs, which is why it is favored for setting important diamonds [7]. The rules are stricter here because platinum alloys vary so widely [3][4]:

“Platinum” with no qualification means at least 950 parts per thousand [3].
Between 850 and 950, the mark states the platinum content, such as 850Plat. [3][4].
Between 500 and 850, if the platinum and other platinum group metals together are less than 950, the seller should state the full composition by name and percentage, such as “75% Platinum 25% Copper,” and disclose that the piece may not have the same attributes as traditional platinum unless it has competent scientific evidence that it does, on durability, luster, density, scratch and tarnish resistance, hypoallergenicity, resizing and repair, and retention of metal over time [3][4].
Below 500 parts per thousand, a piece should not be called platinum at all [3][4].

That list of attributes doubles as the FTC’s own suggested questions to ask about any platinum piece [4]. Mixed-metal pieces have a rule as well: metals should be listed in order of weight, so “14K/Sterling” is misleading on a piece that contains more silver than gold [3].

What the metal is worth, as arithmetic

The metal value of a piece is simple to estimate yourself, and doing so is the surest way to understand what the rest of the price is buying. A troy ounce, the unit gold is priced in, is 31.10348 grams; jewelers sometimes weigh in pennyweights, at 1.555174 grams each [9].

A worked example, as plain arithmetic on published figures rather than a quote: an 18K bracelet weighing 40.0 grams contains 30.0 grams of gold, or 0.9645 troy ounce. At the second-quarter 2026 average LBMA price of $4,506.29 [1], that gold was worth about $4,346; at the third-quarter high of $4,663.70, about $4,498; at the quarter’s low of $3,978.55, about $3,837 [2]. The same 40 grams in 14K, at 14 parts in 24, contains about 23.3 grams of gold, worth about $3,381 at the second-quarter average.

Whatever a fine piece costs above that figure is paying for design, craftsmanship, stones, the maker’s name, and the retailer. Jewelers of America notes that the price of a gold piece is set by factors including karat, craftsmanship, and weight [8], and that is exactly as it should be for signed or beautifully made work. The arithmetic simply lets you see the split, and it shows why a swing in the metal price matters less to a signed piece than to a plain chain sold largely by weight.

Four practical habits follow. Ask for the weight in grams on the invoice alongside the karat. Ask whether stones are included in the stated weight. Check the day’s price from a primary source rather than a seller’s chart. And remember that a published spot or benchmark price is a reference point, not the price anyone will pay you [8].

If you ever sell

The other side of the counter is less romantic. Jewelers of America explains that when you sell gold jewelry, you are usually paid only for the pure gold by weight, minus the refining fees the buyer has to charge, although designer or particular vintage pieces may be worth more than their weight [8]. Its advice is worth following to the letter: get quotes from several buyers, because offers can vary significantly; photograph and document each piece and get an itemized receipt before leaving it with anyone; and have antique or intricate jewelry appraised before selling it to a buyer who pays by weight [8].

The tax treatment is its own surprise. Net capital gains from selling collectibles are taxed at a maximum rate of 28%, not the lower long-term rate on most investments [10]. For this purpose the tax code defines a collectible to include “any metal or gem,” and the 28% category covers collectibles held for more than a year [11][12]. And losses from the sale of personal-use property aren’t deductible [10]. Keep the original invoice; it is your record of what you paid. Ask a tax professional about your own situation.

Buying away from home

Illinois residents who buy jewelry from an out-of-state or overseas seller that doesn’t collect Illinois tax owe Illinois use tax at the Illinois rate. If your use tax for the year is $600 or less you may report it on your IL-1040; above that, Form ST-44 is due by the last day of the month after the purchase. The Department of Revenue says it gathers information on overseas purchases from U.S. Customs, and that use tax is due whether or not an item had to be declared or was subject to duty [13]. For trips abroad, see our guides to VAT refunds on luxury shopping and traveling with fine jewelry and declaring it at home.

Before you pay: a checklist

Find the quality mark (18K, 750, Pt950) and, next to it, the maker’s name or trademark. No trademark with a gold mark: walk away, or get a test [4][6].
Get the karat or fineness, the weight in grams, and whether stones are included in that weight on the invoice.
Ask directly whether any part is hollow, plated, filled, or vermeil, and whether a white piece is rhodium plated [3].
For platinum below 950, ask for the full alloy and the attribute disclosures the Guides call for [3][4].
Do the metal arithmetic with a current benchmark price so you know what the craftsmanship and the name are costing.
Ask about replating, resizing, and repair before you buy, and whether the seller has a buyback or trade-in policy in writing.
Pay in a way that keeps your dispute rights; see our guide to credit card dispute rights on large purchases.
Insure it properly. Appraisals written at old metal prices can understate a gold piece; see our guide to insuring fine jewelry and scheduling it.
For stones in the piece, use our checklist on spotting fake diamonds and undisclosed treatments.

The FTC’s Jewelry Guides are the Commission’s statement of how sellers avoid deceptive claims; they don’t themselves bind anyone, but the FTC can act under the FTC Act against claims inconsistent with them [3].