How to Calculate Scrap Gold Prices

How to Calculate Scrap Gold Prices


How to Calculate Scrap Gold Prices. If you have scrap gold — gold with no artistic
or antique value — you can calculate its market value before taking it to a dealer. You will need Scrap gold Digital scale Internet
connection Spot price of gold Calculator and dealer. Step 1. Remove any stones or non-gold objects from
the scrap gold. Step 2. Weigh the scrap gold on an accurate digital
scale calibrated in grams. If you have more than one object, weigh those
having the same carat value together. Digital scales can be found at most kitchen
and home stores. Step 3. Check the current spot price of gold on the
Internet. The price in dollars for troy ounces of gold
can be found on gold.org. Step 4. Divide the spot price for 1 troy ounce of
gold by 31.1 to get the spot price of 1 gram of gold. Step 5. Multiply the weight of your scrap gold by
its carat value and then divide by 24. This is the number of grams of pure gold that
you have. Pure gold has a rating of 24 carats. 22-carat gold is 22/24 parts pure gold; 18-carat
gold is 18/24 parts pure gold, and 9-carat gold is 9/24 parts pure gold. Step 6. Take your scrap gold to a dealer. Expect to receive from 85 to 90 percent of
the value you determined, allowing for the cost to melt it down. And remember not to spend all your money in
one place! Did you know By 1854 — 6 years after gold
was discovered in California — approximately 1 out of every 90 persons living in the United
States had headed to the gold fields.

11 Comments

  1. He stole his moms fake gold earrings!

    Nothing is really 24K gold these days.
    Im going metal detecting this weekend! i cant wait!

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