# How to Calculate the Value of Scrap Gold

First you have to find out the current value of gold. (available with a google search – “gold spot price”).

Currently it’s \$1580 per Troy Oz. (metals such as this are weighed in troy ounces, which is 31.1 g).

1. Take \$1580 (Price per troy ounce at the time) then divide it by 31.1 (g in one oz.).

This provides us a per gram price of \$50.80 for pure gold. The Gold Price Per Gram.

With jewelry, the quantity of gold within a piece is noted with a karat weight system.
0k – 24k, 24k being 100 percent gold.

If you have a 1 g 24 karat gold pendant you’ll have a piece that is worth \$50.80 at today’s scrap pure gold value.

What if you have a 14 karat piece?

Let us say we have an 11 g piece comprised of 14 karat gold.

First do an equation in step one.

Then divide the answer from step one (\$50.80) by 24 to obtain a per karat price for every g of gold.

2. (begin with the answer from step one) \$50.80 then divide it by 24.
Now you have your per k price for every g, which is \$2.11.

3. You can now take the per k value (step 2’s answer) then multiply it by the k weight of the object in question.
It’ll look something like this for 14 karat,
(step 2’s answer) \$2.11 * 14 (we put 14, yet here you can put whatever the quantity is for your object) = \$29.54
Now you know its \$29.54 for each g of 14 k gold.

4.The final step includes multiplying the answer from step three by the overall g weight of the object, which we stated was 11 g.
(step 3’s answer)\$29.54 * 11 (g) = \$324.94

At today’s values of gold, an 11 g 14 k object is valued at \$324.94.
Also, you easily can plug in 10 k and 18 k for different values.

Be the first to like.

Be Sociable, Share!