Determining The Total Weight Of Your Gold Necklace
To find the absolute amount of pure gold in your necklace, you will need to weigh it.
Before you do that, dont forget to remove any stones so as not to artificially inflate the calculated weight of the gold alloy in the piece.
Weigh your necklace on a scale, and record the weight in grams or ounces.
If you need to convert the weight into troy ounces, remember that 1 gram is equal to 0.03215 troy ounces, and 1 ounce equals 0.91146 troy ounces.
Some jewelers also use pennyweights as units of measurement, so you should know that 1 troy ounce is equal to 20 pennyweights .
Example Of Steps For Checking Value Of Gold Jewelry : Gold Chain Without Gemstones
If your jewelry has precious stones and other ornamentations set onto them, those would have to be temporarily removed. Why? Gold dealers will only be interested in paying for the gold, not the stones. You can probably make an offer to them, but were focused on the gold for now.
Step 1: Set the weight
You will need an accurate weighing scale. A small digital scale should be sufficient, though jewelers tend to use accurate scales so they can get the most accurate readings right down to the smallest unit .
Remember to set it at zero.
Step 2: Clean and dry the chain
Condition of gold chain will affect gold price. To trade with good price, it is better to clean your gold jewelry before selling.
Step 3: Weight the chain
Place your gold jewelry on the weighting scale and get its weight either in grams, milligrams, or ounces.
1 gram is equivalent to 0.03215 in troy ounces.
One ounce, on the other hand, is equivalent to 0.91146 troy ounces. In some instances, gold dealers also use a standard of weight called the pennyweight. 1 troy ounce is equivalent to 20 pennyweights .
Now assume your gold chain that weighs about is 8 grams.
Step 4: Check the gold content
Therefore, your chains contents weights that 4.66 grams of gold, which is calculated by 8×58.3%= 4.664, it is common to use sensitive weight with 2 decimal place, but it depends.
Step 5: Check the gold price
Check current market price of gold. You can check the todays gold price and its trend on goldprice.org or kitco.com.
Does Broken Jewelry Have Value
Whether broken jewelry has value or not depends on who is doing the buying and whether they want to:
- own and wear it
- use parts of it to create various types of crafts and/or jewelry pieces
- earn money from buying and selling it
People who purchase jewelry to wear or collect always expect it to be in pristine condition, but if all they plan to do with it is break it apart to use for creative purposes, condition wont matter.
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You Are An Individual And There’s No Rule Of Thumb About You
Where youre getting the “only one” or ” a style made just for you,” you are paying for a work of art, not something that was mass produced. The fame and popularity of the designer will also have an effect the price youll pay for their design work.
There really is no rule of thumb for figuring this stuff out, but now that you are armed with some information, I hope you feel more comfortable when shopping for jewelry and know what to expect.
Get something that is as unique as you are.
Already Sent Your Gold To A Postal ‘cash For Gold’ Company Without Receiving An Up
We would always recommend that you NEVER send your gold to a ‘cash for gold’ company if they don’t tell you, up-front, what they pay for gold.
Please don’t be taken-in by the ‘110% guarantees’ or promises of ‘top prices’. These statements mean nothing and you will almost certainly receive a poor deal for your gold.
If you’ve already sent your gold to a postal gold company and you notice there are no prices quoted on their web site, request its return. Even after haggling , the price will still undoubtedly be low. It’s not uncommon for valuations to be doubled when the initial offer is refused. Don’t be tempted to accept though!
Takeaways from this guide:
- NEVER send your gold to a dealer who doesn’t display the prices they pay on their web site
- Always accurately weigh your gold on digital jewellery scales
- Use our valuation calculator to find out the real value of your gold
- If your dealer offers less than 90% of its real value, shop around and find a better deal.
Read Also: Why Are Gold Prices Going Down
How Much Is A 14k Italy Gold Chain Worth
First, the gold chain would have to be verified to be actual Italian gold. As long as the gold chain is made of real Italian gold, its value will be determined based on golds current stock price or the spot price and using the golds percentage purity and the weight of the necklace, its value is then calculated easily.
Keep in mind that we are using the same valuation as gold from elsewhere because gold has a standard going rate worldwide, regardless of the place you buy it from. The current foreign exchange rate is what will determine how much you end up paying for it, and it is what makes gold from some parts of the world seem cheaper than others.
14k Italian gold is valued at $34.998 per gram. So to determine how much the gold chain is worth, you will use the current spot price of gold, $34.998 x 58.5%, x by the weight of the chain. As mentioned above, heavier chains, longer, and bigger chains that weigh more are the most expensive ones.
Kitco’s Price Of Gold
Kitco is a leading gold and precious metals buyer and seller, as well as creator of precious metals commodities news. The Kitco Gold Index is a popular measure of real-time gold pricing today. Unlike the stock market, which is a dynamic marketplace, daily gold prices are set by independently owned markets. Kitco is one of these markets.
Read Also: Value Of 18k Gold Per Gram
What To Know If You Want To Buy Gold Jewelry
Firstly, you should buy at premium jewelry shop as quality assurance is important to buy gold jewelry. Secondly, you should know what factors will affect the value of gold. For example, gold origin is one of the factors. Gold chain made in Italy is famous while gold chain from Japan is known as more durable. But obviously, gold content and weight are essential factors to affect the value of gold. Therefore, Therefore, when you look at the price of gold jewelry, the price is always be marked up. It is not only related to exact weight and gold content, but also related to its brand, origin, condition and craftsmanship, etc. We will cover more later in this post. Skip to know the factors.
Figuring Out The Purity Of A Scrap Gold Necklace
The term purity when used in reference to gold jewelry denotes the proportion of pure gold that it contains relative to the amount of other metals in the gold alloy.
Apart from gold, such alloys contain one or more additional metals such as zinc, silver, copper, and nickel, which make the material harder and more durable.
To find out the purity of a scrap gold necklace, first look closely at it, and see if you can spot any karat marks, such as 10K, 14K, 18K, or 20K.
If you cant see any karat stamps, you will need to have the necklace tested for purity. Most jewelers can do that for you.
You can also test your scrap gold necklace for karats at home you will just need to buy a gold testing kit.
After youve figured out the karat number of the gold necklace, you can convert that value to a percentage. Simply divide the karats by24 and multiply the result by 100.
For example, a 20-karat gold chain contains 83.3% pure gold .
If the marks on the chain are not the standard 2-digit numbers but instead have 3 digits, then its purity is most likely expressed as parts per thousand. To convert such a number to a percentage, simply divide by 10.
Related: Check out these womens gold chains as well as mens gold chains.
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How Much Can I Get For Gold At A Pawn Shop Or Jewelry Store
First, remember that high demand for a product that is in low supply drives up prices. This means the value of gold rises during times when more consumers are buying it . Gold also becomes more valuable during economic strife or inflation as it’s considered a safe investment. While currency values drop or crises impact consumer behavior, gold tends to retain its value and often increases in price. The biggest factor, though, is the gold’s purity. The precious metal itself is what holds value. The more your gold is mixed with other metals, the less valuable the piece is. Because gold is so malleable, most jewelry is made from a gold alloy. The priciest gold is 24 karats, which is 99% pure. The karat level refers to the number of units out of a possible 24. Most people’s fine jewelry will be 14k or 18k, meaning there are 14 or 18 units of pure gold.
How Much Is Platinum Worth
Select ‘Platinum’ as the metal in the Precious Metal Calculator. Please note that platinum jewelry is usually marked as ‘Plat’ or ‘Pt’ followed by the number of parts per thousand. Thus to calculate the value of “850 Pt”, for example, enter 85% as the purity to calculate the value of “950 Pt” enter 95% as the purity.
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The Gold Carat Calculation Formula
The 24k is 99.99% pure gold, and a standard using around the world. Other karats like 22k are calculated from 24K using the following formula: Desired Karat = * current spot gold rate Following is the calculation of 22K jewelry gold Let suppose, The current spot gold rate = 1803.85 USD 22K = * 1803.85 Similarly, you can calculate all other karats.
How To Calculate The Value Of Scrap Gold
With gold climbing to all time highs it may be a good time to clean out your jewelry box full of broken chains and old rings. Of course you want to get the most for your items, and the only way to do that is to figure out what you have BEFORE you try to sell it. All the information you need to calculate the worth of your scrap items is mentioned below. You can also use our scrap calculator to get an approximate value for the amount of gold, silver or platinum in your items.
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How Much Does Real 14k Gold Weigh
Thus, your 14K gold ring weighs how much pure gold it contains. The ounce gold percent for these 2822 avoirdupois ounces is 66 percent. Zero was the figure for 89%. There are a total of 18877 ounces in this container. We multiplied this number by troy ounces to find its value. You will get 0 when you call 912. The weight in Troy Ounces is 172 Troy Ounces.
How To Sell Your Gold Necklace Online Using Cashforgoldusacom:
In my jewelry box were a couple of modest gold and diamond rings that a relative had given me when I married. Bye!
I did some research and decided to try to sell the rings at CashforGoldUSA, one of those places that advertise on TV.
Those sites always seemed super-cheesy. But I researched this one.
The parent company, CJ Environmental, has a BBB rating of A+. From past research Ive done as a business journalist on selling gold jewelry , I know mail-in services like this can be a good deal, as can your local pawn shop. Just research them first.
Whether you are selling a wedding ring, necklace or bracelet, the process is simple. I sold a 12-carat gold ring with small diamonds to CashforGoldUSA.com a few years ago. The process was easy.
I was pleasantly surprised. One of the rings 12-carat gold with a couple of small diamonds fetched a $159 check.
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What Is The Melt Value Of Gold
First, understand how much you will get when you sell your gold. Check the price of your gold scrap, gold jewelry, gold dental items, or other gold items with CashforGoldUSA’s online gold calculator, based on the most accurate gram and ounce price of gold today > >
CashforGoldUSA’s online price for gold calculator is very accurate because it automatically uses the spot gold price as of today, and calculates the resale value of your gold item based on the karat of gold, and the weight in grams or ounces to provide a gold melt price.
Similarly, CashforGoldUSA’s online gold calculator helps you understand the price for your scrap gold based on today’s gold price, the gram or ounce weight and karat of your scrap.
The way gold buyers determine how much gold is worth is rooted in the London Bullion Market Association, which today runs an electronic auction system called the LBMA Gold Price recognized globally as the accepted market price for gold.
The LBMA is an industry trade association that promotes transparency, quality and ethical sourcing in gold trade.
To give you an estimate of the price you might receive when selling gold: a simple gold wedding band may bring $100 to $200, while a gold chain necklace , typically brings $70 to $250.
A gold crown could fetch prices between $40 and $100, depending on the gold market, and the quality of gold.
If your jewelry is a known brand like Cartier, Tiffany, Taccori or Bulgari, it will typically attract a higher price.
Appraised Value Or Replacement Cost
Appraised value is the most confusing value partly because, on the surface, it seems to be the simplest. Most people are aware of jewelry appraised value. But, the key to understanding appraised value is that this value is only theoretical. It is not stating what the jewelry is worth, but what it would cost to replace the item in new condition.
people come to a false understanding that their jewelry is worth what the appraisal value states
Jewelry appraisals are the documents that deal with jewelry worth. There are actually a few different kinds of appraisals, but when most people talk about jewelry appraisals they mean insurance appraisals . This is the heart of the problem of what jewelry is worth. Jewelry insurance appraisals dont have anything to do with the worth of the jewelry item, only its replacement cost.
The purpose of a jewelry insurance appraisal is to detail what it would cost to replace a jewelry item if it is lost, stolen, or damaged. It is not meant to show what the items market value is at the time.
Heres an example. If I were doing a jewelry type of appraisal on a 2000 Toyota Camry, I would value it at around $25,000. Why? Because that is how much it would cost to replace the 2000 Toyota Camry with a new 2014 Toyota Camry. Now, no one is saying that the 2000 Toyota Camry is worth $25,000, but it would appraise for that amount.
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Best Place To Sell Gold And Gold Jewelry: Cashforgoldusacom
CashforGoldUSA is the best place to sell your gold it’s a legitimate, reputable online gold buyer for selling gold jewelry that is also one of the oldest in the business.
- Pay within 24 hours
- A+ Better Business Bureau rating.
- 100% free door-to-door free, trackable FedEx or USPS shipping,
- Free Jewelers Mutual insurance up to $100,000 on each shipment
- CashforGoldUSA’s facility insured up to $100,000 by Lloyds of London
- Guaranteed highest price for your gold, coins and diamonds
- Paid out more than $156 million to sellers since being founded in 2005
- Fox Business News investigation found they pay 3X competitors:
CashforGoldUSA also pays a 10% bonus above estimated resale value for items shipped within 7 days.
Understand The Karats Of Chain
It is clear guys that knowing the karats of our gold chain is much more important than any other thing. Many local scammers try to deceive you by presenting wrong karats. A 14k gold chain can never be that valuable as a 24k chain. If you know and have sufficient knowledge about the karats of your chain, you can decide the grams of your gold chain easily.
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How Much Is That Gold Jewelry Worth
John WeddingThis post may contain affiliate links, which means that we may be compensated if you click to a merchant and purchase a product.
Have some old gold jewelry and need some cash? Here’s how to find out what it’s worth before you sell it
Many stores and websites will pay you for your jewelry based on its precious metal content. For those that advertise online, they off you a postage-paid envelope, you mail in your valuables, and a few days later you get a check and ride off into the sunset.
That’s how it’s supposed to work, anyway. Some people will be, shall we say, a bit disappointed with the size of that check.