利用者:LeroyRaby448
Because the spot cost of gold has risen sharply during the last few years, a large crop of buyers emerged. Actually, you may have seen television commercials encouraging you to sell your gold jewelry, dental work, or scrap. If you own any pieces which contain a large amount of gold, this is an excellent opportunity to sell them for cash. The task is understanding how your items are worth.
Fortunately, calculating their value is relatively simple if you possess the right tools and know the formula. We'll provide the latter below. You'll learn, step-by-step, how to determine the value of the entire collection. Then, we'll give a quick blueprint for selling it for an online buyer.
Split Your Items By Karat
The initial step would be to organize your collection by separating each of the individual pieces by their karatage (or karat fineness). For instance, you might possess a 14 karat watch, an 18 karat necklace, and a 24 karat pendant. You will need to place each into separate piles.
Generally, you'll be able to see the karatage on the item; it's a small stamp inside surface. If the stamp continues to be rubbed off, have a dealer test the piece. Observe that the testing process utilized by dealers can lead to a tiny bit of gold being lost.
Weigh Each Pile
Once your items happen to be separated into piles by their karatage, weigh each pile. Ideally, you should have access to a gram scale. If your scale only displays ounces, you will need to convert the amount of ounces into grams (multiply it by 28.35). For instance, if your pile of 18 karat pieces weighs 3 ounces, they weigh 85.05 grams.
Calculate The present Value Per Gram
Find today's spot price (that can be done for the most part major news websites). Spot prices are listed because the amount of money per troy ounce. A single troy ounce is equivalent to 31.1 grams. Divide the location price with that number to find the current price per gram. For instance, if the spot price were $1,090, the price per gram could be approximately $35.05.
Next, you will need to divide the number of karats represented by each pile by the fineness from the gold. That means dividing each by 24 like the following...
10 karats = 10 divided by 24 = 0.41667 14 karats = 14 divided by 24 = 0.58333 18 karats = 18 divided by 24 = 0.75000 22 karats = 22 divided by 24 = 0.91667
Now, simply multiply the price per gram ($35.05 in our example) through the factors above to find the price per gram for every karatage...
10 karats = $14.60 14 karats = $20.45 18 karats = $26.29 22 karats = $32.13
The final step is to multiply each of the "price per gram" figures above through the number of grams inside your individual piles. For example, if your pile of 18 karat pieces weighs 25 grams, that pile may be worth $450 in line with the current spot price.
How you can Sell Your Scrap Gold Online
Once you have determined the current value of your gold items, find a buyer online. Attempt to make use of a refiner as opposed to a broker. That eliminates the middleman. With no extra layer of padding, you will probably receive a high price from the refiner. You need to observe that you will not receive 100% of your gold's value. The proportion of the spot price offered varies by the buyer; some offer around 80% or even more while others offer less than 50%.
You will need to mail your items to the buyer so they'll be in a position to weigh them. Many refiners will give you a free kit which includes an insured shipping box as well as an inventory form which you can list each piece. Some refiners may even allow you to create a merchant account on their website so you can track their progress. They'll extend a deal to you which you'll have the ability to accept or decline.
If you own old bits of gold jewelry, coins, dental fillings, or any kind of scrap gold, consider selling it while the spot price is high. The fast inflow of money may be put to better use than jewelry that is gathering dust in storage.