jeff & Maria
Active member
Figuring what your gold is worth
GET A SCALE_____ look up today's gold price, it changes every few minutes--say it is at $1,768.00--that is the price of 24 k--solid gold-- BUT you have jewelry so what is it worth??? Remember the Rule!!!--10 k = .417---------14k = .583--------18k= .750--------22 k --= .916
take the figure of 1,768.00 and (if) you have some 10 k gold multiply 1,768.00 x .417 = $737.25-- THAT is the price of a troy oz. of 10 k gold or 20 DWT or penny weight as it is called-- Remember there are 20 penny weights to a troy oz--divide 20 into $737.25 and you get $36.86 (per penny weight)-- that is the actual figure of what your melt value is--BUT you won't get it!! you have to sell to these vendors who need a profit too-- so now you can determine how low you want to go---do the same math for each Karat
GET A SCALE_____ look up today's gold price, it changes every few minutes--say it is at $1,768.00--that is the price of 24 k--solid gold-- BUT you have jewelry so what is it worth??? Remember the Rule!!!--10 k = .417---------14k = .583--------18k= .750--------22 k --= .916
take the figure of 1,768.00 and (if) you have some 10 k gold multiply 1,768.00 x .417 = $737.25-- THAT is the price of a troy oz. of 10 k gold or 20 DWT or penny weight as it is called-- Remember there are 20 penny weights to a troy oz--divide 20 into $737.25 and you get $36.86 (per penny weight)-- that is the actual figure of what your melt value is--BUT you won't get it!! you have to sell to these vendors who need a profit too-- so now you can determine how low you want to go---do the same math for each Karat