How To Calculate The Value Of Scrap Gold Jewelry

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The value of scrap gold is like that of any other gold, however, the other metals combined with the gold to make the gold jewelry harder and more durable have to be melted away in order to extract the pure gold. This is done by gold refiners which is the place your gold ends up to receive its pure value of $1200+ on the stock market.
In order to get that value for the gold in your necklace or ring or other gold jewelry, the gold buyers have to look at your gold and analyze it. They look for the karat weight in the gold which will give the percentage of pure gold. They also have to look at the weight of that kind of gold and then calculate the scrap gold value.
We will use $1200 as the trading or SPOT price for gold on the day you take your gold to the jewelry store or send it in online to be analysed. It is currently just above $1200 per ounce, but we will use a round $1200 today.
This is the price of an ounce of pure 24 karat gold. If you bring gold to a "we buy gold" store and you have 2 necklaces of 14 karat weight and 2 rings of 10 karat weight your scrap gold value equation may look something like this.
$1200 x (10/24) .4167= $501.24
$1200 x (14/24) .5833= $699.96

You would then divide that amount by 31.1 to get amount per gram as there are 31.1 grams per ounce of gold.

$501.24 / 31.1= $16.12
$699.96 / 31.1= $22.51

You would then multiply price per gram by the amount of grams in your jewelry. So if your 2 gold rings weighed a total of 23 grams and were 10 karat the total value of the rings would be
23g x $16.12= $370.76

Then multiply the amount of grams from the two necklaces at 14 karat, let's say 34 grams
34g x $22.51= $765.34.

This is the true value of your gold. Now if you take those pieces to a "we buy gold" store, you can expect to recieve anywhere from maybe 20% to 60% of that final value.
This is where these type of "Sell gold" or "we buy gold" companies make their money, so they will try and give you the lowest price possible so they can get the highest profit.
I have found that if you can get 60% of that price, you have a pretty good deal. If you get way lower than that, then you need to keep shopping. There are plenty of options out there and lots of people want to buy your scrap gold.
You can sell online for convenience, but just make sure of two things before you send away your gold. That you are going to be adequately insured if your gold happens to get "lost" in transit and that they call you and tell you how much your gold is worth before just sending you the check.

This company I found in Atlanta Georgia is quietly paying out more than the big companies you see on TV. They also have a mail in program which insures your gold for $500 or more if you need and will call you before sending you a check to make sure you are satisfied with the price. Compare them to what you can get locally and see if it is worth while to send them your gold. GOLD GIVES BACK.

They also have a program that gives back a portion of their profits to a charity of your choice. A nice touch in an industry with a bad image!

Scrap Gold Value
http://PriceScrapGold.com

Article Source: http://depositarticles.com/

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