Beware holiday gold bargains. All karat gold is cheated except in Britain



ADVICE FROM A HONG KONG GOLD REFINERY on a forum

It sounds like your material is 22K jewelry scrap which, if exactly 22K, is 91.66% gold. However, karat gold is rarely what it is marked and you must be prepared for this. Most all is underkarated unless it is manufactured in a place like Britain, where it is more tightly controlled by the government.

TAP - In other words the crooks get away with running the gold industry worldwide.....just like every other industry.  Britain and other hallmarking countries aside, you can't ever be sure you're buying the right amount of gold.  Jewelry in the US is an industry run by the mafia, and no one's got a  clue.  They runa  thing called the Jewelry Vigilance Committee, which takes jewelry from stores and checks its Karatage.  Invariably they find that 14 karat is 10 Karat if that.

You should buy hallmarked jewellery unless you enjoy being a mug.