Calculate Value Of Scrap Gold Without Calculators- Prevent Tricksters This 2009
With the threat of inflation looming, gold prices have been rising rapidly. Every time that inflation no longer looks like a threat, they fall again. Calculating the value of scrap gold is something helpful for those that are trading in gold jewelry for cash. Itís important to know how much to expect.
With rising gold costs, there has been a growing trend of consumers that are converting unworn gold jewelry into cash. There are many companies that offer competitive prices, but there are tricksters out there, too. Wouldnít it be nice to know the approximate value of your gold? It is possible to calculate the value of scrap gold without calculators when you know a few helpful hints.
Bud Blair, owner of http://www.goldtreeonline.com says, Spot Gold prices are a poor indicator of what to expect. To calculate your scrap gold, you first need to separate the gold by karat fineness, such as 10 karat versus 24 karat. Testing can involve some gold loss, so it is better if you can read the stamped numbers. Some items may be gold plated and not worth selling. There is a formula based on the karat fineness you need to know, based on the weight of your gold.
The formula for gold by karat fineness is important, since 10 karat gold is not as pure as 24 karat, obviously. Gold prices are based on pure, 24 karat gold. So the formula to find out the value by the ounce of lesser quality gold would be:
10 karat= 10/24 = .4167 multiplier
14 karat= 14/24 = .5733 multiplier
18 karat = 18/24 = .750 multiplier
You simply take this multiplier times the price of 24 karat gold prices by the ounce to get the appropriate ounce price for your gold. Then you can weigh your gold to find out the total value. Of course, the spot gold price fluctuates daily, so the price you receive for your gold will depend on the market price the day you sell.
We list the daily market prices on http://www.goldtreeonline.com and the instructions to sell your scrap gold, which is easy as 1, 2, and 3. Donít get taken by tricksters, use a reputable gold buying company like for quick cash from your scrap gold.
- Contact Information
- Bud Blair
- Gold Tree Online
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