Own junk gold at home? Are you snooping to market your junk gold for the best price? Gold fillings, damaged gold jewelry, dental gold, or gold extorted from an electronic equipment or device are some of the common examples of scrap gold or junk gold. If you're keen to peddle junk gold for profit you can. The first step is to compute the junk gold in grams. By doing so, you will a better picture of how much you will be able to sell your pieces.
Find out the scrap gold prices per gram by computing it using the current 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. Take note that the price of gold changes frequently. The conventional measurement of gold is troy ounces or 31 grams.
After you have determined the value of your scrap gold pieces per gram, divide the price amount by 31.1035 grams. After which, round off the value to the nearest cent. For instance. if the present price of gold is $ 1500 per troy oz, the price per gram is equals to 1000. just divide it by 31.1035, or $ 48.2260. Round it off to the nearest cent and you will get $ 48.23.
Find a gram scale to acquire the actual weigh of the scrap gold. Then again, if you have a pile of scrap gold to balance, it will be most excellent to determine the scrap gold items on a scale that accurately weighs ounces. As soon as you get the weight by ounces, just convert the numbers to grams. Take note that 1 ounce of gold is equals to 28 grams of gold.
If you have a compilation of junk gold items, sort it out and weight them accordingly. Separate each junk gold by grades. In general, gold is described by their karat grade. For example, a gold item is equivalent to 10k, 14k, or 18k. 24k is pure gold, don't expect 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 durable. You can find the karat grade etched on the gold pieces. You may also use a magnifying glass if necessary. Be sure not to include any pieces that are gold-plated in your assembly of scrap or junk gold.
As soon as you know the karat grade of your scrap gold, multiply the gold value using the following guide. For 10 karat gold, multiply the present price of gold per gram by .4167. For 14 karat gold, multiply the gold price per gram by .5833. For 18 karat gold, multiply the present price of gold per gram by .75 and lastly 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 yourself is exceedingly difficultr. Simply, 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 market your items to an online scrap retailer or a coin trader. 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.