Frequently Asked Questions

  • Does the Providence Diamond Co. quote prices over the phone?
    Answer: We do not for a number of reasons. Here's why...
    • The price of gold is constantly changing and can be very volatile.
    • All jewelry is different, certain pieces with diamonds can command more money than just the gold weight. A Diamonds quality can vary from one extreme to another. Certain pieces with high quality diamonds can double and triple the offer we make. You have to have many years of experience and training to be able to interpret these variations.
    • Estate and Vintage jewelry can be worth more due to it's rarity and year created.
    • The more you have the higher our offer will be!
  • Why do certain gold buying companies quote the price they pay and you don't?
    Answer: Anyone who quotes the price of gold over the phone is really misleading you. Once a price is quoted, that person is responsible for honoring it. How can you quote the price of something without even seeing it? Think about it, have you ever bought a car without taking a test drive? Or bought an expensive dress without trying it on?
  • What does 10k, 14k, and 18k and 24k gold mean when stamped on a piece of jewelry?
    Answer: 10k gold has a 41.7 % gold content, 14k gold has 58.5% gold content, and 18k gold has a 75% gold content, 24k gold is typically also stamped .9999 fine gold which means 100% content.
  • How many grams in a troy ounce of gold, silver, or platinum
    Answer: There are 31.103 grams in a troy ounce.
  • What is the most important factor in determining the price of a diamond?
    Answer: Color and clarity are both very important, but the Cut of the diamond determines 50% of it's price.
  • How much has gold gone up in the last year?
    Answer: Gold has increased as much as 50% in the past 12 months, fueling the interest and participation of people selling their old gold jewelry that is just collecting dust.
  • Why factors determine how much you get per piece of jewelry?
    Answer: Gold Buyers are only buying the raw material in the piece of jewelry. They do not put a price on the labor it took to create it. Most gold jewelry purchased before the year 2000 is worth more now than what you paid for it.
RI License #90316

Providence Diamond Co. | 65 Hillside Road | Garden City Center | Cranston, RI 02920 | Phone: 401.946.7070 | Toll Free: 866.946.7070 | Fax: 401.946.7073
© Providence Diamond Co. 2010