Identifying precious metals

The price of gold is at a record high just below $1,000 an ounce and silver is at a 28-year high of more than $20 an ounce. But before rushing to the jeweler with that gold chain or ring or that tarnished silverware inherited from an aged aunt, look for identifying marks that will reveal whether it is treasure or trash.

• Gold: Most gold objects made since the early 1900s have a stamp identifying its purity. A mark such as "14k" or "18k" means it is 14 or 18 karat gold. Pure gold is rated at 24 karats.
• Gold fill: Gold fill is the process of putting a thin layer of gold over a brass core. The gold must be 5 percent of the total weight of the object, so a mark such as "14/20 GF" means 5 percent of the object's weight is 14 karat gold.
• Gold plate: An electrical process that attaches a thin layer of gold to a base metal, usually brass. The layer is thin, and a mark such as "18k HGE" will identify it.
• Gold coins: There are many purities in gold coins. Modern American Eagle bullion coins, minted since 1986, are 22 karat gold. Older coins, such as the large $20 face value "double eagle" struck before 1933, were 90 percent pure, with the $20 denomination containing just under an ounce of pure gold. Older gold coins are seldom sold for their gold value because collectors place a premium above that of the gold content.
• Silver: Silver objects usually have a hallmark that notes their purity. Sterling silver is 92.5 percent pure, while coin silver is 90 percent pure. Sterling silver pieces must have the word sterling on them or another mark that clearly identifies them.
• Silver plate: Like gold plate, this is a process that electrically attaches a thin layer of silver to a base metal. The word "plate" will appear somewhere on the object.
• Silver coins: Like gold, many countries produce silver bullion coins that are 99.9 percent pure silver. Silver coins from different countries vary in purity. U.S. silver coins minted in 1964 and before are 90 percent silver, while British silver coins are 92.5 percent pure. When selling silver coins for their bullion value, be sure to check the date with a dealer to make sure it is not a rare coin.

Sources: Harlequinbeads.com, About.com, Michael Sprouse