From old gold to new jewellery
There are many good reasons for reusing old gold: It is better for the environment, it can retain the sentimental value, and it helps lowering the total price, of your new piece of jewellery. The old gold can be reused within your new piece of jewellery, if its sentimental value is important to you. In this way you can incorporate the memories of your loved ones into it. A typical example are your wedding rings: Wedding rings from the older generations of your families could be molten down and reused for new wedding rings of the next generation.
We only use the old gold if you ask us to do so. But even if we don’t use it, your gold can still help with paying for the new jewellery: You can pay up to half of the end price of the new piece. Regardless of whether we use your actual old gold or not, the process is the same:
First, we find out what your jewellery dream is. We draw, look at different designs and choose the gems. Then we calculate a price. In order to have an idea of how much a piece of jewellery might approx. cost, take a look around our website. If you already have the gems for your piece (perhaps from the old jewellery), they will not be part of the equasion – in that case you only pay for having them set. Then we weigh your old gold, and figure out what karat it is by checking the stamp (and possibly test it). If it says:
333 – Then it is 8k (333 out of 1000)
585 – Then it is 14k (585 out of 1000)
750 – Then it is 18k (750 out of 1000)
At Castens, we benchmark the price up against Nyfortuna, who is one of the Danish gold purchasers which pay the highest price for old gold. We find this to be the most fair towards our customers. You can any time check the daily price for your old gold yourself at Nyfortuna. When we have established the price of your old gold, we subtract the amount from the price of your new piece of jewellery.
We have designed a 14k gold ring with a diamond, which will cost 8.000 DKK.
You have 20g 14k gold while we provide the diamond. At Nyfortuna, you would sell your gold for approx. 2.600 DKK (prices change daily - these prices are as of 6th of March 2018).
Subtracting the total of 3.846 DKK. from the 8.000 DKK, you are left with a final payment of 5.400 DKK for your new piece of jewellery.
If you want to reuse that actual gold, because of the sentimental value, or the gold holds a lot of small gems, an additional fee of 500 DKK is added. The reason for this is, that it takes time to carefully remove the gems, melt down, roll, and process the gold to a stage where we can start to actually build the jewellery.
We happily reuse the old gold of our customers and often it makes good financial sense. Silver is however rarely wort it.
What if the old gold is another karat than the new piece should be?
So you want us to reuse an old piece of jewellery with a lot of sentimental value, but of for instance only 8karat. However, the new piece should be 14karat. In this case we re-alloy, which means that we add some fine gold (24k) before casting the gold for further process.
Recycling old gold is an environmentally good choice
The gold we use at Castens, is always recycled. This gold has been sold to buyers around the world. It is then shipped to factories, which under controlled conditions melt it down and extract the fine gold for new alloys.
When we in Denmark purchase gold, in the shape of sheet or wire from our suppliers, it is always gold which has been recycled in this way. Unearthing new gold can have many environmental and human consequences which, is why we so ardently support the recycling of the gold, which has already been wrestled from the bones of Mother Earth.
Using your own gems
We happily recycle the gems from your old jewelry - or loose gems which you provide yourself. However, the workshop accepts no responsibility for your own gems damaged while being set. A gemstone which has been used may have hidden flaws and cracks, which might cause the gem to be fractured during the setting process. If this happens, we will of course do our best to find a suitable replacement, which will be added to the final bill. Should this happen, we will always first inform you about the necessity of finding a replacement, allowing you to select another alternative, should you desire so.
You also have the option to have the gems insured, in whcih case we of cause pay for a replacement.
Insurance prices per gem set by us:
0,01 - 0,04 = 25,- DKK
0,05 - 0,09 = 40,- DKK
0,10 - 0,14 = 100,- DKK
0,15 - 0,19 = 180,- DKK
0,20 - 0,29 = 300,- DKK
0,30 - 0,49 = 800,- DKK
0,50 - 1,00 = 1900,- DKK
Gems above 1 carat cannot be insured
A second possibility: Transforming your old piece
Another good way to repurpose your old gold is by changing the design of the old piece. Often the new design can leave the old piece looking brand new and virtually unrecognizable. However, if the old piece holds engravings or other personalized marks, we will do our best not to damage these, proving, that the new piece of jewellery actually has old and genuine roots.