24 Carat Gold

What Is 24ct Gold?

24 carat gold, also known as 'pure' gold, is the highest standard of gold purity available. This means the gold content is of at least 99.9% pure gold. Gold in it's purest form exhibits a very rich and vibrant yellow appearance.

Characteristics of 24 Carat Gold

Gold in its purest form is a soft metal, this makes it quite impractical for everyday jewellery wear, compared to lower purity gold alloys such as 18ct, and 9ct. Although impractical, you do see Indian and Asian occasion jewellery jewellery made from 24ct pure gold. This jewellery is not designed for everyday wear, and is often reserved for wedding days and very special occasions.

Due to its softness, pure 24ct gold is typically reserved for use in investment grade gold bars and bullion coins.

Hallmarking and Purity of 24 Carat Gold in the UK

In the UK, 24 carat gold is marked with the hallmark "999", confirming it contains at least 99.9% pure gold. Older British gold items may simply be hallmarked with "24". Each gold piece will carry a maker's mark, a sponsor's mark, a fineness mark, and an assay office stamp. The "999" hallmark assures you of the item's purity and that it has been rigorously tested according to UK hallmarking laws. This hallmark is your assurance that the gold is of the highest possible purity, free from alloys, and is universally recognised as investment-grade gold. Further testing may need to be done to guarantee authenticity and purity.

Differences Between 24 Carat 99.9% (999) and 99.99% (9999) Pure Gold

While both are described as pure gold, 999 gold (99.9% pure) is the standard benchmark for purity in gold bullion and jewellery, some refiners produce gold with an even higher purity of 99.99% (9999), known as four-nines fine gold. This is an even higher level of refined purity, with contaminants removed. Although visually identical, four-nines fine gold has fewer impurities and is considered premium investment grade gold. The practical differences are minimal, but the slight increase in purity can command a small premium, making it especially appealing to collectors and investors seeking the highest purity available on the market.

Interesting Facts About 24 Carat Gold

• 999 gold can be hammered into thin sheets known as gold leaf, which can be as thin as 0.0001 millimetres.
• 24ct gold is a highly resistant metal to corrosion and oxidation, which is why it remains shiny and untarnished for centuries.
• Pure gold is a highly effective conductor of electricity and is frequently used in electronics for critical components such as connectors and circuit boards.
• Often 24-carat gold leaf, is sometimes used to decorate luxurious dishes and desserts due to its inert and non-toxic nature it is edible.
• Historically, gold has been used as currency and a store of value for thousands of years, symbolising wealth, power, and status across numerous cultures.

Uses of 24ct Gold

• Investment: The most common use of 24 carat gold is in the form of gold bullion bars and coins, prized for their purity, liquidity, and growth in market value. Gold bars can come from many refinery's and mints and in weights usually varying from 1g to 1kg. You can also see pure gold used in British Royal Mint coins such as the 1oz Gold Britannia.
• Jewellery: While pure gold is soft and prone to scratching, it remains popular in Indian and Asian cultures that place high importance on gold purity, where 24ct jewellery is worn for ceremonial purposes.
• Electronics: Due to its excellent electrical conductivity and resistance to corrosion, 24 carat gold is widely used in electronics. It's commonly found as a plate layer on connectors, switches, contacts, circuit boards, and other critical components, ensuring reliable performance in high-quality electronic devices and precision instruments.

Care and Maintenance of pure 24ct gold

Due to its softness, 24 carat gold items require gentle handling. Store items like coins and bars separately, as contact with each other can cause denting and scratching of the surfaces. Store them individually in soft cloth bags or boxes. You can clean pure gold gently using a soft cloth with mild soap and warm water, avoiding abrasive substances or acids.

Pricing and Valuing Pure 999 Gold

24 carat gold is valued directly according to the global spot price of gold, fluctuating constantly based on market conditions. Quoted in troy ounces, the 1toz spot price of gold represents 31.1035g. This makes it easy to calculate the value of your gold as you do not have to make any calculations for lower purity alloys.

Gold bars and coins may be purchased by dealers a 2-4% below the spot price and resold 2-4% above spot price.