How to Price Gold Karats

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In order to properly price gold karats, you need to know the current price of gold. Price gold karats the proper way with help from a jewelry buyer in this free video clip.

Part of the Video Series: Gold Buying & Selling
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Video Transcript

Hello, my name is Brett Barrad with, I'm a jewelry buyer based in San Diego, California. Today, I'm going to be talking to you about how to price gold karats. The first thing we need to know, is the current price of gold, multiplied by the percentage of the purity of gold. I have a chart below, that will pretty much identify all these different karats of gold. These are the most common karats in the United States. You have ten karat, 14 karat, and 18 karat, that's just typically what we see in most of our jewelry. Ten karat being forty-one point six seven percent pure, 14 karat being fifty-eight point three three percent pure, and 18 karat being 75 percent pure. So, for example, if gold is currently trading at around seventeen hundred dollars per ounce. Using the formulas that I previously stated, you would know how much each karat of gold would be per ounce. For example, 14 karat gold being fifty-eight point three three percent pure, multiplied times seventeen hundred dollars per ounce. Would get you a price of nine hundred, ninety-one dollars, sixty-seven cents per ounce. If you wanted to divide that and get the gram price, you divide it by thirty-one point one, and your gram price would be thirty-one dollars and eighty-seven cents per gram. Now, if you want to identify what gold you have, use a trusty little jewelers loop. I recommend anything with ten power magnification, you'll take your piece of jewelry, you'll locate the markings, which are inside the jewelry. And typically, they'll be ten karat, 14 karat, 18 karat, or they could also say, five eight five for 14 karat or seven five O, for 18 karat. Which is the approximate purity of the gold. Once you've identified that, you an simply take the gold, place it upon your scale, see what the weight is. And use the formulas that I provided. That'll get you the exact dollar amount per gram or per ounce of the particular karat gold that you possess. It's important to remember, when doing your calculations, there are thirty one point one grams in a troy ounce of metal, not 28 grams. It's different when you're talking about a troy ounce of metal. Again, my name is Brett Barrad with, jewelry buyer here, based in San Diego. I hope I've answered your question on how to price gold karats, thank you very much.


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