Pricing your gold

After checking, testing and weighing your gold, it's time for pricing your gold. Gold is in constant flux, so we'll use the spot price of $900.00 for the sake of an example, but Keep in mind that spot price quotes are based on 24kt and per ounce. 10kt is .4167 pure, 14kt is .5833 pure, and 18kt is .750 pure. A Troy ounce equals 31.1 grams. Based on our example of $900.00 per ounce, you would divide it by 31.1 to come up with a price per gram of $28.94, but that's for 24kt. Now multiply the $28.94 by the karat fractions to obtain a price per gram for your jewelry. For example, $28.94 x .4167 (10kt) = $12.06 per gram for 10kt. 14kt would be $28.94 x .5833 = $16.89 per gram. 18kt would be $28.94 x .750 = $21.71 per gram. You can then multiply that figure times the number of 10kt, 14kt and 18kt grams you have. If you're not a math person like me, Click here to use an easy precious metals calculator (Note: Dental gold is marked as 10kt on this calculator when it is closer to 16kt).

The following is a daily spot price chart that is constantly updated so you can view up-to-the-minute spot prices on precious metals:

Now let's move onto where to sell your gold!

Return from Pricing your gold to How-to-sell-your-gold homepage.