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How to Estimate the price of Your Gold Jewelry Before You Sell It

It certainly is best if you calculate value of your gold jewelry yourself if it in to among the gold-buying companies. This will assist you to decide if the cost which they provide you with is fair you aren't.

There exists a not at all hard equation to calculate the value of your gold jewelry. There are only 3 factors inside equation. The full equation is:

(karats � 24) x price of gold in grams x (weight of one's item in grams)

One thing you have to do is determine the kind of gold which you have, measured in karats. Many pieces will probably be engraved or marked with the karat rating. You needs to work with a magnification device. to determine it, since it is usually quite small. Take the karat rating and divide by 24. This gives you the very first factor from the equation. The most typical karat ratings are 1k, 8k, 9k, 10k, 14k, 15k, 18k, 20k, 22k, and 24k. Each karat is equivalent to 1/24th pure gold, with 24 karat gold being 99.9% pure.

Next, you need to get the current cost of gold, that is always fluctuating down and up. You should be able to find this without difficulty online. It may also be quoted as being a price "per troy ounce", so that you will have to divide that price by 31.1 to have the price per gram. This is the second factor.

Congratulations, you need to weigh your jewelry. Use a definative scale, preferable an electronic one. You will likely need to get the weight in grams. If your scale only does ounces, you'll be able to multiply the volume of ounces by 28.35 to get to the body weight in grams. This is the third and final ingredient that you will need.

Let's tell you an illustration:

You have 10 grams of 14k gold and the current price of gold is $850 per troy ounce.

The equation would seem like this:

(14 � 24) x ($850 � 31.1) x (10) or, more simply .5833 x 27.33 x 10

It makes sense $159.42.

Something which can further complicate things is some individuals value gold using pennyweight (which is abbreviated DWT) as an alternative to using grams. Converting grams to pennyweight is only a a few dividing the load in grams by 1.555.

One other thing to know about is that if your jewelry has any gemstones, they ought to be valued separately. They must also be removed an email psychic reading a suitable weight reading. The formula discussed here only values the specific gold. It doesn't be the cause of any gemstones or any other metals that could be combined with the gold like silver or platinum.reference:price of gold in grams