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.
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