How to determine the value of gold rings

[Dan Hughes]

My latest treasure show is about gold.

With the price of gold at an all-time high, now may be the time to cash in some of that gold jewelry you've been hoarding. Where should you sell it? A tough question, but more importantly, I tell you where NOT to sell it.

I also give you the formulas for determining the gold value of your finds, especially rings.

Listen at http://thetreasurecorner.com.

P.S. As I write this, there is a formatting problem with my site (no margins), and the Libsyn folks are working on it. So it looks strange, but you can still see it all by scrolling back and forth. (And the show plays with no problem.) Hopefully this will be fixed by the time you visit.

---Dan Hughes

 

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[Frankn]

I do it a little different. I weigh the gold in troy ounces because the spot price is listed in troy ounces. The troy weight is then multiplied by the spot price. I then multiply it by its gold percentage. 24 kt is 100%, 18 kt is 75%, 14 kt does not work out even so I use 58% which is a tad on the light side, 12kt is 50%, !0kt is another odd one so I use 41%. I can see no reason to add another step by weighing in grams. Frank

PS: Most stores in my area are real ripoffs. They only offer 1/3 spot.