About diamonds

If your scrap gold contains diamonds, a trip to the local jeweler may be warranted for a couple reasons... First, the jeweler can give you either a written or verbal appraisal, and second, if the stone is still in a setting, such as an engagement ring, the jeweler will have the right tools to remove it. A written appraisal will cost anywhere from $50.00 to $150.00, but if the stone isn't very large, say under 1/4 carat, it wouldn't be worth paying for an appraisal. If you're on a friendly basis with your jeweler, and he has a few moments, he may be willing to look at your gem and give you a verbal assessment. Something to keep in mind is that there are two types of appraisals - insurance value and "real" value.

An insurance value appraisal is a replacement cost estimate on an item if it's lost, stolen or destroyed. In other words, it's what it would cost to walk into a store and purchase a replacement at today's prices. You might also want an insurance value appraisal if you're planning to keep the item and perhaps pass it down through the family. A real value estimate is what you can expect to receive if you sold the item to a jeweler or on the Internet. That will be a ballpark figure because on the second hand market, something is only worth what someone is willing to pay for it. I use Ebay as a reference for what similar items have sold for, and this can apply to anything from diamonds to antiques to collectibles.

You've probably heard about the "Four C's" - color, cut, clarity, and carat. They will determine the value of your gem. A small, clear, white stone may be worth more than a larger, cloudy stone, but it should be evaluated by a jeweler or certified gemologist in the event you want to keep it, sell it or re-set it. If you've already purchased a loupe (see Checking Your Gold), a little internet research will teach you what to look for when inspecting the diamond yourself. Try typing in diamond grading or diamond chart and see what comes up!

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