Myth 1: 24k Gold is too soft.
Some people maintain that 24k gold is too soft but craftsmen have used 24k to make jewelry for millenia. People have worn 24k for centuries. Many still wear it daily today.
24k gold is softer compared to lower karat jewelry (22k, 18k, 14k) crafted from alloys. These alloys contain copper, palladium, silver, and other metals. Solid 24k gold acquires scratches over time but gold jewelry is sufficiently durable to be worn every day. The distinct 24k gold finish of fine scratches and dings is beautiful.
The jewelry industry has popularized harder metals and alloys as they are more inexpensive. This aids higher mark-ups and overall profit. It's more profitable to sell diluted gold and claim that the pure version is too soft to be worn (similarly to how some might claim that diamonds are forever while we know diamonds can actually crack or get damaged as well). In Asian markets, 24k jewelry is popular because of its unequivocal value and steady value appreciation.
Myth 2: White gold resists better wear better than yellow gold and platinum.
White gold jewelry typically has a rhodium plating which will wear off between a half a year to two years, depending on the thickness of the application. If you wear a rhodium plated white gold ring or other jewelry, you will need to have it plated periodically. You can also purchase white gold that is a 14k nickel alloy or a 14k or 18k palladium alloy. White gold is still prone to scratches just like yellow gold.
If you are looking for a white metal that will not wear off quickly, you are better off with platinum jewelry. Platinum is naturally white and will not wear off as fast as gold.
Myth 3: Fine Jewelry retains is the value in metal and gemstones.
Fine jewelry often has high markups because of the marketing, brand value, storefront costs, etc. Even though fine jewelry gold is of lower karat and is worth less than investment jewelry, it often costs more. Fine jewelry loses most of its value immediately after purchase. Investment jewelry such as 24k gold is more reflective of the metal's real value. Refer to our Fine vs. Investment jewelry article.
Myth 4: Jewelry cannot provide returns in the long term.
Jewelry and investment are not mutually exclusive. 24k gold has appreciated 580% over the last 20 years. In comparison, the S&P 500 Index appreciated 160% over the same time. Gold is a sound investment vehicle. Consumers can look good while wearing 24k gold jewelry. 24k gold jewelry might be more expensive than a gold bar, but they both appreciate in value. And, one can wear the jewelry and enjoy it every day, unlike gold bars that are usually kept locked away.
Myth 5: old comes in various colors.
White, rose, and green gold are alloys (mixed metal compound). White gold contains nickel, palladium, and gold. Rose gold contains silver, copper, and gold. Green gold contains silver and gold.
It's actually also possible to have yellow gold that is not pure gold because it’s an alloy of metals. These are lower karat gold jewelry and they lose value almost immediately after purchase. 24k gold is pure gold (99.99% gold) and always beautifully yellow. The color of solid gold is beautiful.
Myth 6: Biting gold will tell you if it's real.
We wouldn't recommend biting jewelry as it will damage your teeth. While gold is soft enough that human teeth can theoretically leave a mark, there are also similarly soft metals. This method will not distinguish gold from other soft metals. And fake jewelry can be toxic if it contains toxic ingredients such as lead. The best way to verify your gold is sourcing it from a reputable source with certification.