MANILA, Philippines — Gold’s value appreciates over time: so instead of toys and gadgets, why not give gold as gifts instead?
Such was the message of pawnshop chain Palawan Group of Companies at a recent press conference in Makati City.
Bobby Castro, the company’s chairman, shared some trivia on how much gold is in each gold bar or jewelry, hauling from his 40-year experience as co-owner of the pawnshop chain with over 3,300 branches nationwide.
According to him, jewelry with 24K gold has 100% or guaranteed 99.99% pure gold, or gold with a ratio of 24/24 (24 over 24). It is also softer than those with alloy mixtures.
In contrast, 18K means 18/24 (18 over 24) or 75% gold.
“Ang halo n’yan, 75% gold and 25% alloy. So ‘yung alloy na ‘yun is composed of silver, depende kung anong gusto mong kulay. ‘Pag gusto mong maging pula, ‘yun naman ay naglalagay ka ng copper – rose gold,” Castro explained.
He said silver melts at 900 degrees Centigrade, while gold melts at 1,100 degrees Centigrade or as he quipped, “Kasing init na ata sa impiyerno.”
“By the way, walang white gold na 100%, ano! Kasi in order for it to be white, kailangan haluan mo s’ya ng nickel. So nickel plus gold, magiging white gold.”
Sheila Shalduga, the company’s Chief Commercial Officer, said that gold jewelry usually comes in the form of chains. But jewelry created using “electroforming” that looks chunky outside but is actually hallow inside, is becoming a trend especially among rappers and hip-hop lovers, so the company is also now exploring this for their new earrings and bracelets.
Among the company’s latest products is Palawan Gold, which includes a 2024 jewelry and gold bars collection in 24K or 99.99% pure gold and available in different grams, ranging from one gram to 20.
Carlo Castro, the company’s President and Chief Executive Officer, vouched for the “top-notch competency” and “knowledge” of their jewelry assessors who could determine if every jewelry is 24K, 18K, fake or real. According to him, their employees take months to train before they can earn the right to be called “appraisers,” through in-house series of trainings that issue certificates from basic to advanced skills.
“It takes time to build the competency,” he affirmed, dispelling notions that one can easily spot fake versus real jewelry with just one look and without training.