While trends come and go, gold and other precious metals have retained their value throughout history. If you have gold coins or jewelry lying around, you're sitting on a great source of quick cash. In Rochester, NY, locals looking to sell gold turn to Ridge Coin & Gold Exchange. These gold dealers are known for offering top dollar cash for gold. Here, they explain what pennyweight is. 

Understanding the Cash for Gold Selling Process

What is Pennyweight?

Pennyweight is also known as denarius weight or DWT for short. It is the measurement used by jewelry professionals throughout the United States and the United Kingdom to determine the weight and value of gold and other precious metals. There are 20 pennyweights in one troy ounce of precious metal. By comparison, one ounce of gold would be equal to 18.23 pennyweight. Contrary to its namesake, pennyweight has no relation to the weight of an actual penny!

Why Should You Know These Terms?

Getting cash for gold is an excellent way to earn additional income. If you have old jewelry to sell, or you’re an avid collector looking to capitalize on excess gold, you should know the market before you sell gold. By understanding weight measurements, you’ll have a better sense of what you have. In turn, you’ll have the opportunity to demonstrate your understanding with gold dealers, so you'll always get the most out of each transaction. 

As the best gold dealers and pawn shop in the greater Rochester, NY area, Ridge Coin & Gold Exchange have established a reputation for experienced, fair business practices. If you’re ready to get cash for gold, visit their website or call them directly at (585) 234-5678 to find out how much your precious metal is worth. While you’re at it, bring your silver, platinum, diamonds, gemstones, jewelry, and antiques to see what they can offer.