What to Check When Buying Gold: Practical Tips
What should you look out for when buying gold in Turkey? A detailed guide to karat, weight, craftsmanship and choosing a jeweller you can trust.
Gold never loses its appeal, both as a traditional gift and as a long-term safe haven. But the variety on the market and price swings can sometimes make it hard to make the right decision. Whether you are putting your savings to work or choosing a present for someone you love, it pays to know what to check when buying gold so that you do not end up disappointed.
The karat, the weight, the craftsmanship cost and the trustworthiness of the seller are the building blocks of the process. In this guide you will find the basic rules you can follow step by step to choose the gold that best suits your needs.
Be clear about your goal: investment or jewellery?
The first rule when buying gold is to be clear about what it is for. Gold bought as an investment and gold bought for daily wear or as a wedding gift have different characteristics. If your goal is long-term saving with minimal loss when you sell, go for the options with the lowest craftsmanship cost. Gram gold and Turkish gold coins such as the quarter, half and Ata Lira are suited to this purpose.
If your goal is style and wear, you can choose crafted jewellery. In bangles, necklaces and rings, design and handwork come first. You should know from the start that the craftsmanship fee is not refunded when you sell these pieces. To see different designs, browse our catalogue.
Check the karat and the hallmark
The purity of gold is expressed in karats or in fineness. The piece you buy should carry a hallmark showing its karat. 24 karat gold contains 995 or 999 parts of pure gold per thousand, while 22 karat is 916, 18 karat 750 and 14 karat 585. These small numbers inside the piece or on the clasp are its identity card.
Be wary of pieces with no hallmark or whose karat is not clearly stated. In jewellery 14 and 22 karat are the most common, Turkish gold coins are 22 karat and gram gold is 24 karat. For more detail, see our guide the difference between 14, 18, 22 and 24 karat gold.
Work out the craftsmanship cost
Craftsmanship is one of the most important factors in jewellery prices. The more complex a piece is to make, the higher its craftsmanship cost. This directly affects the gap between the price in the window and the amount you will be paid if you sell.
Some traditional pieces carry a low craftsmanship cost, while specially designed rings and necklaces with stones carry a high one. Asking the seller openly about the craftsmanship fee of a piece you like helps you plan your budget.
Follow prices live
Gold prices change constantly during the day, following the global ounce price and, in Turkey, the dollar rate. So it is wise to check current prices just before you buy. You can use the market screen on our website to follow them.
Jewellers trade on these live prices with a buy/sell spread. If you want to calculate today's value of purchases made at different times, use the calculators on our tools page.
Choose a trustworthy jeweller
When you turn your savings into gold, your most important guarantee is the trustworthiness of the seller. Choosing a jeweller who stands behind their products and shows prices openly prevents problems. Stay away from suspicious products sold well below the market price.
Make it a habit to ask for a receipt or invoice showing the karat, weight and price of what you buy. At our store in Ümraniye, Istanbul, we weigh every piece on a precision scale in front of you. For our address and directions, see our contact page.
Investment gold and jewellery compared
| Criterion | Investment gold (gram, quarter, Ata) | Jewellery (necklace, ring, chain) |
|---|---|---|
| Craftsmanship cost | Very low | Medium to high |
| Karat (purity) | Usually 22 and 24 karat | Usually 14, 18 and 22 karat |
| Loss when selling | Low | High, depending on design and craftsmanship |
| Main reason to buy | Saving, easy to turn into cash | Style, gift for a special occasion |
Frequently Asked Questions
Is it safe to buy gold online?
It is safer to buy from businesses with a physical store and a known identity. If the item is shipped, check that it is insured and ask for an invoice.
What should I check when buying white gold?
White gold uses the same karat system as yellow gold; for example, 14 karat white gold is 585 fineness. It is alloyed with other metals to lighten its colour. Checking the fineness hallmark and asking about the craftsmanship fee is enough.
Can you bargain when buying gold?
With crafted jewellery there may be some flexibility on the craftsmanship fee. With standard products such as gram gold, quarter coins or Ata Liras, prices follow the live market, so there is usually no room to bargain.
At Erya Gold Kuyumculuk you can follow live buying and selling prices, and reach our store in Ümraniye with any question.
