Where To Go To Sell Your Gold
Little pop-up walk-in gold stores have flooded my town over the past several months. They are literally everywhere.
The problem with so many options is deciding where to go to get the most for your gold. To make things even more difficult, there are many people out there trying to rip you off, and the resulting losses could be huge.
What Im going to do is outline the options that you have and guide you a little as far as which direction to go in:
Can I Resell My 14k Gold Chain
Yes. You can resell your 14K gold chain whenever you want. Some of those who can purchase it are gold dealers, pawnshops, jewelry stores, and auctions. You can also consider online buyers.
The tips below can be handy when youre reselling your 14K gold chain:
- Know its gold content and value
- Find out the current price of 14K gold
- Ensure your buyer is registered if theyre a pawn shop or jewelry store
- Dont be impulsive or hasty
- Shop around to know how other pieces of 14K gold chains cost
Calculating The Gold Content Value Of A Jewelry Piece
In summary, to determine the gold value content of an item, you first need three bits of information.
Next, if you encounter weights measured in pennyweights, grains, and grams, remember these conversions.
- 20 dwt to a troy ounce
- 480 gr to a troy ounce
- 31 gm, approximately, to a troy ounce
Divide the daily gold price per troy ounce by the appropriate number above. Then, multiply that result by the weight of the item to calculate its pure gold price.
Finally, multiply the items pure gold price by its gold content percentage . This final result indicates the value of the actual gold content of the item. Now, you can figure out the jewelers markup for the piece.
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How To Calculate The Price Of A 14k Gold Chain
Its pretty easy to calculate the price of a 14K gold chain. Begin by cleaning and drying the piece of jewelry. From there, remove any ornaments it might have.
The next step is to get an accurate weighing scale. Set it at zero to prevent any miscalculations.
Then, place the gold chain on the scale to know its weight in ounces or grams. Remember that one gram is equivalent to 0.0352739619 ounces.
As with most 14K gold pieces, confirm that the chains gold content is 58.3%. Multiply this percentage with the chains weight. For instance, if the latter is 6 grams, the gold content will be 3.498.
Proceed to find out the current price of 14K gold.
Lets assume its $31.60 per gram. After that, calculate the value of the gold in the chain. To do this, multiply the chains gold content by the price of one gram of 14K gold. For example, if the price is $31.60, the value of the chains gold is $110.54.
To estimate the 14K gold chain price, mark down the pieces index price by 20-30%.
Stock Price Of 14k Gold
Gold is a commodity because of its industrial and is traded on the stock exchange. The stock price is what the value is of the commodity in this case, gold.
As of 2020, the stock price of pure 24k karat gold is $1704.60. Since we know that 14k gold 58.5% pure gold, that would make the stock price of 14k gold about $992.16 per ounce! Other conversions are:
- 14k Gold price per gram $29.33 USD
- 14k gold price per pennyweight 44.07 USD
- 14k gold price per kilogram $31151.54 USD
Please note that the prices reflected fluctuate daily.
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What Is 14k Gold
If 14K golds total weight is 24 parts, 14 of them are pure gold. Ten are the other metals.
Some of the popular metals in 14K gold are zinc, nickel, and silver. Their types and proportions may vary, but the gold percentage remains the same.
14K gold comes in an array of beautiful colors, including black gold, yellow and white. The metals in the alloy determine its final shade.
When you want to identify a 14K gold chain, check if it has a stamp or hallmark. It is usually at one of its hidden areas. It could be 14K P or the golds percentage .
Can You Shower With 10k Gold
As you already know, gold does not rust in the shower. 10k gold consists of 10 parts gold and 14 parts other metals, usually silver or copper, or zinc. If you shower with your 10k gold pieces on, theres a high chance that the metals mixed in will rust. If this happens, 10k gold jewelry can end up getting damaged.
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The Real Situation In The Pawn Shops
First of all, you shouldnt expect to walk in the pawn shop and get the amount of money you previously researched or determined to claim. It is more complicated than that.
Also, keep in mind that the pawn shops wont offer the same gold price when selling and buying jewelry. It is always significantly different, and you will need to fish out for the best price. To be sure you are not tricked for the real gold ring price, you can always ask to see their license to sell and buy gold.
Be aware that the pawn shop owner needs to make money out of your gold, and you will never get 100% what you have expected.
The fair price you can get is 55 to 75% of the particular rings estimated value. Keep in mind that the given prices are always for a simple ring without a gemstone.
When you want to make the final price for more complex rings, you will need to calculate all parts separately. It is quite a challenging job if you are not a professional. However, you can always ask around or check the details.
After comparing the price of 14K gold per gram that the pawn shop offers with its value on the market, you will notice a big difference. Even though one gram of 14K gold is $36 on the market, the pawn shop will provide you with only 13$ per gram for the ring with the same number of karats.
In case you are not in a hurry, you should always check several pawn shops. Compare prices, find the most favorable place, and bargain for the best possible price.
Simply So Can You Wear 14k Gold Everyday
14k gold is a great choice if youre looking for a lifetime piece you can wear everyday and everywhere yes, even in the shower!
As you might expect, these stamps stand for 14 karat. Some manufacturers stamp their gold with K, while others use Kt but both means the same thing. 14K is one of the most common stamps used to indicate that an engagement ring, wedding band or other gold jewelry is made from 14K gold.
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How Much Is 14k Scrap Gold Worth
Well, there is a price difference between the stock price and the price you can get paid. You cant expect to be paid the stock price if you sell to a dealer. Expect a lower price. Very reliable dealers take about 10% off the stock price. But be careful most gold dealers, pawn shops, and jewelers offer little money for your unwanted scrap gold. Find out on your own how much your items are worth before you shop around. All you need is a common scale and good eyes to make out the gold marking. If you know that you own 14K gold for sure, you just need the scale to determine the weight. Below you can find a price table for 14K gold with the dollar amount per ounce, dwt, and gram. We highly recommend not selling for less than the prices stated in this table.
How Much Is A 14k Gold Chain Worth Tips On Buying & Selling Gold Chains
Buying and selling jewelry can be a time-consuming process. You want to make sure that you are getting the true value of your piece as a seller and avoid overpaying as a buyer. The key to buying and selling gold chains and other gold jewelry is through research, but weve compiled some other tips below to help you navigate through the process.
As you begin your research, youll discover that 14K gold is one of the most common types of real gold jewelry on the market, which begs the question How much is a 14K gold chain worth? This depends on several shifting factors that well dive into with our guide for buyers and sellers.
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How Much Is 22 Karat Gold Worth Jewelry And Coins
If you plan on selling your items, you probably want to find out how much 22 karat gold is worth. You probably also want to know if there is a difference between gold jewelry and gold coins. And there is a difference: for 22 karat gold coins, you can get paid 5% more than for 22 karat gold jewelry. This seems odd, because obviously more work was put into the gold jewelry than the coin, but because a gold coin is a kind of monetary instrument, coins sell for more money.
What Is The Value Of Your 14k Gold
The value of your 14K gold depends on how much buyers are willing to pay for it.
Here, we are only discussing the value of 14K gold items when sold as scrap gold. However, retail prices for new jewelry depend on more than just the amount of pure gold in it factors such as the pieces design and brand also come into play.
One way to estimate the value of a 14K gold item is to look at gold market prices. Another way is to check what gold dealers pay per ounce or gram of gold.
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What Are The Most Common Gold Purity Levels
Gold and gold alloys are measured by the percentage of pure gold per other elements. The purest gold is 24k, which has 24 out of 24 parts gold with no other metals present. The next purest gold is 18k, which has 18 out of 24 parts gold, and 14k and 10k follow the same standards. While jewelers can make gold alloys in any karat amount, 10k, 14k, 18k, and 24k are the most common for their appearance and suitability to specific types of gold jewelry.
Calculate The Amount Of Pure Gold
Now that you know how much your 14K gold items weigh, you can figure out how much pure gold they contain.
14-karat gold contains 14 parts pure gold and 10 parts other metals.
This means that 58.3% of this alloy is gold . So, you just need to multiply the weight of your 14K gold pieces by this percentage to find how much pure gold they contain.
For example, if you have 5 grams of 14K gold, then it should contain 2.915 grams pure gold .
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Calculate The Value Of 14k Gold
We will use 14k gold as our example on how to calculate actual gold content and its value. The same formula works for 10k and 18k.
EXAMPLE: Your 14k yellow gold chain weights 24.2 pennyweights
Actual pure gold content value of chain. We then multiplied 14.1 pennyweights of pure gold times $67.45 per pennyweight and we get $951.05.
Sell Through A Reputable Channel
Once youve decided to sell some of your jewelry, you need to decide where you should list your available products. Unfortunately, too many people fall into the trap of selling through a sketchy platform or try to arrange a sale through the internet with a stranger, only to be scammed or ripped off.
Always do your research beforehand to find a respectable place to list your available jewelry. If youre looking to get quick cash, you may want to consider a pawn shop or a jeweler that buys second-hand pieces however, you should be aware that these types of establishments will often give you less money than you may be able to get from a private seller.
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What Is The Gold Value Of 14 Milligrams Pure Gold
Written on August 5, 2011, by Arch Enterprises
What is 14 milligrams of gold worth? I am considering purchasing some Buffalo tribute coins that are clad in 14 mgs of pure 24 kt. Gold and want to know what this gold is worth. Thanks from Julie in Chicago, Illinois.
Gold is measured in troy ounces. When you see the daily price of gold, you are mostly likely seeing the price per troy ounce. This can be confusing when you are working with other units of measurement.
Here are some quick conversions to give you an idea about how much a troy ounce is in comparison to other units of measurement.
1 gram = 0.0321507466 troy ounces1 milligram = 0.001 grams1 milligram = 0.0000321507465686 troy ounces
14 milligrams = .0004494 troy ounces
Now that we have done the correct conversion, lets talk money! Today the price of gold is at $1,637.50 USD per troy ounce.*
1 troy ounce of pure gold = $1,637.50 USD*1 gram of pure gold = $52.65*1 milligram of pure gold = $0.05*
14 milligrams of pure gold = $0.74*
As you can tell, 14 milligrams of gold is small. Plus these coins are clad in gold and not made from solid gold, so it is not like we could even refine this small amout of gold from these tribute coins.
See more information on the Gold Buffalo Nickel Tribute Proof.
*Prices given reflect the price of gold when this blog post was written. Gold price may or may not be the actual current price of gold.
How Much Is A 14k Gold Chain Worth
Its difficult to answer this question without knowing more about your 14K gold chain. Because there are many different types of gold chains, there are many variables that can add or take away from the overall value. In addition to this fact, the price of gold is always fluctuating, so, if youre looking to sell or buy, you should first check the current going rate.
After that, determine the weight of your gold jewelry, so that you can calculate the estimated value of your piece based on the current price of gold per gram. From this information, you should have a general sense of how much a 14K gold chain is worth. If the piece also includes extra factors such as additional precious metals, particularly more valuable ones like platinum, or desirable gemstones like diamonds, rubies, or emeralds, the price could be even higher.
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Ring With Particular Historical Value
Not so often, it happens that you come into possession of a valuable ring with the heritage. In that case, you need to dig deep for the documents to support the ownership of such a valuable item.
If you have a certificate of the ring origin or any proof that any celebrity wore it at least once, it will significantly increase its price. Your 14K gold ring will also be worth more than regular 22K or 24 K models if it has a famous jewelry designers signature.
How Do I Find Out What My Ring Is Worth
The most straightforward way to figure out the market value of a diamond is to check the prices of stones with the same carat weight and of the same clarity, cut, and color grades. You can do your research online and calculate an average price, which will serve as an estimate of your diamonds value.
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Some Quick Guidelines Before You Go To One Of These Places
Pure gold is currently paying about $1250 per ounce. By going through the math, this means that 10 karat gold will scrap at about $16.35 per gram. And 14 karat gold will scrap at $23.50 per gram. Scrap prices refers to what these large companies get paid when they send in this gold to be melted, which is what most of them do with your gold. This means that its nearly impossible for you to ever get offered more than this amount for your gold. In fact, more than likely, it wont even be close to this number. As I mentioned earlier, this is because of the convenience charge these stores get for being market makers. However, the closer you can get to these numbers, obviously the better.
2) Your second option is to go a pawn shop. Many people recommend going to pawn shopes over the We Buy Gold places because often these shops pay significantly more. I recently sold some gold myself and this is exactly what I did. Ill detail my experience selling gold later in the post.
3) Finally, you can always just wait. Hold on to your gold and wait for the price to go up. Gold fluctuates. But in the long-term, it has always gone up. If you dont really need the money, it might be the way to go. Save it for that rainy day.