Do you have scrap gold at home? Are you snooping to market your scrap gold for the best price? Gold fillings, broken gold jewelry, dental gold, or gold extorted from an electronic appliance or gadget are some of the common examples of scrap gold or junk gold. If you are ardent, you can make money from junk gold. The first step is to calculate the scrap gold in grams. This way you will have a clearer picture of how much you will be able to sell your items for.
Find out the scrap gold prices per gram by computing it using the present value of gold. The present value of is available from local papers and spreadsheets or any websites that tracks the international market of gold on a regular basis. Remember that the worth of gold changes repeatedly. The conventional measurement of gold is troy ounces or 31 grams.
As soon as you have determined the value of your scrap gold pieces per gram, divide the price amount by 31.1035 grams. Then, round off the cost to the nearest cent. For example. if the current value of gold is $1500 per troy oz, the value per gram is equals to 1000. just divide it by 31.1035, or $48.2260. Round off to the nearest cent and you’ll get $48.23.
Find a gram scale to get the actual weigh of the scrap gold. But if you have a pile of scrap gold to weigh, it will be finest to benefit from a scale that measure weight by ounces. As soon as you get the weight by ounces, just convert the figures to grams. Keep in mind that 1 ounce is equals to 28 grams of gold.
If you have a collection of scrap gold pieces, sort it out and weight them accordingly. Separate each scrap gold by grades. In the main, gold is defined by their karat grade. For example, a gold item is equivalent to 10k, 14k, or 18k. 24k is pure gold, don’t assume to see a gold piece jewelry as 24 karats, as pure gold tends to be very flexible. As a result, most gold jewelries are mixed with other types of metals and alloys to make it hard-wearing. You can detect the karat grade imprinted on the gold items. You may also use a magnifying glass if necessary. Check if there are gold plated pieces in your assembly. Do not include them.
Use the following guide to compute for the gold price. For 10 karat gold, multiply the current price of gold per gram by .4167. Multiply the price by .5833 for a scrap gold that is 14 karats. For 18 karat gold, multiply the current price of gold per gram by .75 and finally for 24 karats, simply use the price of gold per gram.
Do not fret, there are online calculators that you can use if computing it manually is too difficultr. Basically, provide them with the actual weigh of the gold and the karat grade if available. The online calculator can help calculate the gold price per gram for you. Once you get the value of your scrap gold per gram, you can now sell your pieces to an online scrap trader or a coin dealer. The former on the other hand, can give you a lower price for your pieces. So if you can find a coin dealer who wishes to get your items, you can sell your items to them and they can offer you a better price as compared to a junk gold trader.
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