利用者:StromCyr154
As the spot cost of gold has risen sharply over the last few years, a large crop of buyers emerged. In fact, you might have seen television commercials encouraging you to sell your gold jewelry, dental work, or scrap. Should you own any pieces which contain a lot of gold, this is a good opportunity to sell them for cash. The challenge is understanding how much your items are worth.
Fortunately, calculating their value is comparatively simple if you possess the right tools and be aware of formula. We'll supply the latter below. You'll learn, step by step, how to determine the value of the entire collection. Then, we'll provide a quick blueprint for selling it to 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 own a 14 karat watch, an 18 karat necklace, along with a 24 karat pendant. You will need to place each into separate piles.
Generally, you can begin to see the karatage around the item; it's a small stamp inside surface. If the stamp has been rubbed off, have a dealer test the piece. Note that the testing process used by dealers will result in a small amount of gold being lost.
Weigh Each Pile
Once your items happen to be separated into piles by their karatage, weigh each pile. Ideally, you ought to have access to a gram scale. In case your scale only displays ounces, you'll need to convert the amount of ounces into grams (multiply it by 28.35). For example, in case your pile of 18 karat pieces weighs 3 ounces, they weigh 85.05 grams.
Calculate The Current Value Per Gram
Find today's spot price (you can do so at most major news websites). Spot costs are listed as the amount of money per troy ounce. Just one troy ounce is equal to 31.1 grams. Divide the location price by that number to obtain the current price per gram. For example, if the spot price were $1,090, the price per gram would be approximately $35.05.
Next, you'll need to divide the number of karats represented by each pile through the fineness from the gold. Which 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 each karatage...
10 karats = $14.60 14 karats = $20.45 18 karats = $26.29 22 karats = $32.13
The final step would be to multiply each of the "price per gram" figures above through the quantity of grams inside your individual piles. For example, in case your pile of 18 karat pieces weighs 25 grams, that pile may be worth $450 based on the current spot price.
How To 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 rather than a broker. That eliminates the middleman. Without the extra layer of padding, you'll likely receive a high price from the refiner. You need to observe that you won't receive 100% of the gold's value. The percentage from the spot price offered varies by the buyer; some offer around 80% or more while others offer under 50%.
You will need to mail your what to the buyer so they'll be able to weigh them. Many refiners will give you a free kit that includes an insured shipping box and an inventory form which you can list each bit. Some refiners may even permit you to create an account online so that you can track their progress. They'll extend a deal for you which you'll have the ability to accept or decline.
Should you own old pieces of gold jewelry, coins, dental fillings, or any type of scrap gold, consider selling it as the spot prices are high. The fast inflow of money can be put to higher use than jewelry that is gathering dust in storage.