How to Find the Value of Gold Jewelry
Gold jewelry can be a good investment to make. It can easily be sold for cash at any time, and based on the market it has the potential to go up---or down---in value. The following information can help you determine the value of your gold jewelry. Does this Spark an idea?
Instructions
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Look up the current price of gold. There are a variety of helpful websites, such as kitco.com, which provide the current value of gold (per troy ounce).
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Divide the current value of a troy ounce of gold by 31.103 to determine the value of one gram of gold. For example, if gold is currently valued at $1,000 per troy ounce, then that would equal a price of approximately $32.23 per gram of gold.
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Calculate the quality of your gold jewelry. This can easily be done by dividing the number of karats of a piece of gold jewelry by 24. For example, if you want to know the value of a 14-karat piece of jewelry, you would divide 14 by 24, which is .5833.
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Multiply the price per gram by the quality of your gold. For example, $32.23 times .5833 equals approximately $18.80. This is how much per gram your 14-karat piece of gold jewelry is worth.
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Weigh your gold jewelry. Multiply the weight in grams by the amount your gold is worth per gram. For example, if your 14 karat gold jewelry weighs 5 grams, then its current value would be $18.80 x 5 = $94.00.
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Tips & Warnings
You can use a handy online tool to calculate the value of your gold jewelry, such as the one at www.gold.yabz.com/jewelry.htm.
Don't expect pawnshops to pay you the full amount that your gold jewelry is worth. You may be better off selling your gold to a reputable jeweler.
References
Resources
- Photo Credit Gold jewelry set image by lune from Fotolia.com
