22K gold is commonly used the manufacture of jewelry in the countries of Southeast Asia, the Middle East as well as in India. In India, gold jewelry is an integral part of society as gold in all its forms (jewelry, coin, bars) are part of a traditional bridal dowry and 22K jewelry adorns Indian women for everyday wear, religious and wedding jewelry.
Karat gold is not pure gold but an alloy of gold combined with other metals to produce a harder more durable product. Since karat is a percentage of pure 24 K gold (24 Karat. .999 and .9999), jewelry stamped 22K or .916 contains more gold and is characterized by a richer yellow color than gold of lower karats. 22K gold contains 91.6% pure gold combined with 8.4% other metal.
Another common use for 22K gold is in the minting of gold coins. Prior to the 1930’s, gold coins were typically minted of “crown gold” which was a 22K alloy. Many of today’s one-ounce gold coins like the South African Krugerrand and American Eagle are still minted in the traditional 22K gold alloy although they contain 1 ounce of pure gold each by weight.
GoldFellow®’s cash for gold prices for 22K and other karats of gold are posted every day on the company’s website. These prices are for scrap gold jewelry. If you want to sell gold coins like those mentioned above which are minted in 22K, please call GoldFellow® to discuss coin pricing – or visit one of the many GoldFellow® walk-in and by-appointment locations for assistance.