What’s your gold worth?

A little homework can help ensure that you get a fair price when selling your gold jewelry.

Figure out exactly what you have, says Don Ketterling, a Westlake Village jewelry appraiser. Most gold will have stamped value markings. For example, a wedding band marked 14K is 58 percent pure, Ketterling said.

Gold and silver are often sold by the troy ounce, which is 31.1 grams, or about 10 percent more weight than a regular ounce.

On Tues., Nov. 3, the spot price of gold had reached $1,084 per ounce.

“If a guy says I’ll pay you 100 bucks for a troy ounce that’s a little cheap,” Ketterling said.

Ask what percentage of melt—the amount of gold in a piece of jewelry—the potential buyer will pay.

A buyer is entitled to make money but not to take advantage, Ketterling said.

“If somebody’s paying you 85 to 95 percent of melt price, that’s fair,” Ketterling said. “If they don’t answer that question, generally I would be suspicious because the reputable guys will give you that answer.”

Among the tricks of the trade is to discount the number of grams of gold if there is a gemstone in a piece of jewelry, Ketterling said. Inaccurate scales are another ruse.

It’s rare but possible to have genuine gold without markings. An acid test will determine the percentage of gold. Whatever is not eaten by the acid is not gold and the color it turns determines the amount of gold contained.

“Sometimes the markings are not accurate, especially if you bought your jewelry overseas,” Ketterling said.

Ketterling urges sellers not to walk into a deal cold.

“If you ask a certain set of questions at the outset it lets them know at least that you have an idea of what you’re talking about,” Ketterling said. “The more forthright they are with you the better."

— Sophia Fischer