How much is your gold worth?

Posted on Thursday, August 27th, 2009 at 3:39 pm by Preston

Find out for yourself

We get this question quite frequently: "How much is my gold worth?" People want to know. So here it is, laid out for you to calculate yourself. Of course, if you'd rather us figure it out, come into our store, and we'll do it for you.

Overview

First, here's a quick overview of the steps you need to take.

  1. Look up the current gold price (per ounce) (?)
  2. Divide by 31 (?)
  3. Multiply by your Gold Quality Multiple (?)
  4. Multiply by the weight of your jewelry (in grams) (?)

4 Easy Steps

1. Gold Price

The gold price listed below is in ounces.

[Most Recent Quotes from www.kitco.com]

2. Convert to Grams

Divide the gold price by 31 to convert to grams. (?)

3. Gold Quality

Find the stamp on your jewelry. Next, find the percentage of actual gold in your metal using this table. (?)

Stamp
Purity
Multiple
10kt
41.6 % pure gold
0.416
14kt
58.5 % pure gold
0.585
18kt
75.0 % pure gold
0.750
22kt
91.6 % pure gold
0.916

Multiply your number by the number on the right of the table. For example, if your jewelry is 14kt, then mutliply your number by 0.585. (?)

4. Weigh Your Jewelry

Use a baking scale, and set it to grams. Subtract 1/2 gram from the weight (?). Multiply your jewelry's weight by the number you already have, and that's what your gold is worth!


An Example:

  • Say gold is $900/ounce, your jewelry weighs 4 grams, and it's stamped 14kt

In words:

  • $900 (gold per ounce) divided by 31 (grams in an ounce (?)) multiplied by 0.585 (14kt (?)) multiplied by 4 grams, less 0.5 grams (for your stones' weight (?))

In numbers:

  • 900 / 31 x 0.585 x 4 = $61.14

If you can't figure it out

Call us or email us! We'll be glad to help you out. Or better yet, come in, and we can tell you exactly what you'll get for your jewelry.

805-466-7248 inquire@kjons.com kjons.com



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