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Calculating the Bootie with todays gold standard

landman

landman

Member
Let me see if I got this straight.
If I find a 12k ring that weights 10 grams and that the scrap price at the going rate or $600 an ounce is worth about $100. Is that what you all get approx.?
 
I just input the purity, weight, and the daily spot, and it calculates the scrap value. At a spot price of $651.60/troy oz, your 12K (50% pure) 10 g ring would be worth $105.75, minus whatever the refinery charged.
 
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