- May 28, 2010
- 19,421
- 30,104
- 🥇 Banner finds
- 1
- 🏆 Honorable Mentions:
- 1
- Detector(s) used
- Nokta Makro Legend// Pulsedive// Minelab GPZ 7000// Vanquish 540// Minelab Pro Find 35// Dune Kraken Sandscoop// Grave Digger Tools Tombstone shovel & Sidekick digger// Bunk's Hermit Pick
- Primary Interest:
- Metal Detecting
I saw a guy get ripped off today, and I think all of you should know - How to Calculate Gold Price By Karat & Weight.
First, divide the karat (24; 18; 14; 10) by 24. Now multiply that number by today's gold price per gram. So, if you have a five-gram 10K gold ring, and the current price of gold is $1,600.00 per ounce - or $51.45 per gram ($1,600.00 divided by 31.1 grams), then your 10K gold ring is worth $21.44 per gram ($51.45 x .4167), or $107.20.
10k = 10/24 = .4167
14k = 14/24 = .5833
18k = 18/24 = .750
22k = 22/24 = .9167
If you have five- grams of 14K, and gold is $1,600.00 today, then $1,600 divided by 31.1 would equal $51.45. That figure, multiplied by .5833 (14K) comes out to $30.01 per gram. $30.01 x five- grams equals $150.05.
Some gold buyers use pennyweight (DWT) instead of grams. There are 20- pennyweights per troy ounce. Let’s say you want to sell your gold. You know it weighs 25 grams. You go to a pawn shop to see what they will pay, but they use pennyweights, not grams. Here's how to calculate the conversion: 25 grams of gold x 0.643 = 16.1 pennyweights.
Pennyweights to Grams............divide by 1.55517
Grams to Pennyweights............Multiply by 0.643
Know what you have BEFORE you go to sell it. You swing hard for your gold, don't give it away!
First, divide the karat (24; 18; 14; 10) by 24. Now multiply that number by today's gold price per gram. So, if you have a five-gram 10K gold ring, and the current price of gold is $1,600.00 per ounce - or $51.45 per gram ($1,600.00 divided by 31.1 grams), then your 10K gold ring is worth $21.44 per gram ($51.45 x .4167), or $107.20.
10k = 10/24 = .4167
14k = 14/24 = .5833
18k = 18/24 = .750
22k = 22/24 = .9167
If you have five- grams of 14K, and gold is $1,600.00 today, then $1,600 divided by 31.1 would equal $51.45. That figure, multiplied by .5833 (14K) comes out to $30.01 per gram. $30.01 x five- grams equals $150.05.
Some gold buyers use pennyweight (DWT) instead of grams. There are 20- pennyweights per troy ounce. Let’s say you want to sell your gold. You know it weighs 25 grams. You go to a pawn shop to see what they will pay, but they use pennyweights, not grams. Here's how to calculate the conversion: 25 grams of gold x 0.643 = 16.1 pennyweights.
Pennyweights to Grams............divide by 1.55517
Grams to Pennyweights............Multiply by 0.643
Know what you have BEFORE you go to sell it. You swing hard for your gold, don't give it away!
