DaChief
Bronze Member
- Sep 16, 2007
- 1,035
- 36
- Detector(s) used
- -------(Water)------- Garrett Infinium (Relic and Coin) Minelab Sov. Elite
- Primary Interest:
- All Treasure Hunting
I got curious today and tried to find a site on the web that gave the price of gold and silver by the gram at today's price. I found this site that gives you the current price per gram of gold and silver on the market at any given time. Today gold is at 28.64 per gram for pure gold. I didn't look at Platinum, Palladium, etc.
Here is a link to the site.
http://goldprice.org/gold-price-per-gram.html
You can figure the price of varied common Karat types by using this percentage table for each multiplied by the against the current gram price times the grams you have and that is what your current possessions should be worth in today's market. For example, today if you found an 18k ring that weighed 4 grams, your find would be worth. .75 (percent gold) X $28.64 (today's gram price) = $21.48 per gram x 4 grams (the ring weight) = $85.92 (your ring's current value as scrap) You would get about $79 for it from Midwest Refineries if they paid 93 percent of the spot price.
That same ring in the varied karat amounts would be worth the following in spot price without figuring the reduction for the percentage offered by Midwest Refineries.
Based on gram value of gold , June 2, 2008
24K gold = 24 parts out of 24 parts is gold (approx. 100% gold) 28.64 per gram or $114.56 total
22K gold = 22 parts out of 24 parts is gold (approx. 91.6% gold) 26.23 per gram or $104.93 total
18K Gold = 18 parts out of 24 parts is gold (approx. 75% gold) 21.48 per gram or $85.92 total
14K Gold = 14 parts out of 24 Parts is gold (approx. 58.3% gold) 16.78 per gram or $66.78 total
12K Gold = 12 parts out of 24 Parts is gold (approx. 50% gold) 14.32 per gram or $57.28 total
10K Gold = 10 parts out of 24 Parts is gold (approx. 41.7% gold) 11.94 per gram or $47.70 total
That kind of puts a reality check on gold items that we are finding as far as their cash value. Takes a lot of rings to build up a fortune but we also have to count the health and happiness benefits that the hobby brings. That to me is invaluable.
The price of silver today per gram was listed as 56 cents per gram. That was depressing. I am thinking you could probably sell your silver jewelry on EBAY for more than you get for the metal. No so with gold. Pricing your precious stones would be much trickier since they are subject to so much variance on quality grading and sizing.
Happy Hunting! I am heading to the Panhandle for my next hunt. I have not been lucky there but I am going to give it another try.
DaChief
Here is a link to the site.
http://goldprice.org/gold-price-per-gram.html
You can figure the price of varied common Karat types by using this percentage table for each multiplied by the against the current gram price times the grams you have and that is what your current possessions should be worth in today's market. For example, today if you found an 18k ring that weighed 4 grams, your find would be worth. .75 (percent gold) X $28.64 (today's gram price) = $21.48 per gram x 4 grams (the ring weight) = $85.92 (your ring's current value as scrap) You would get about $79 for it from Midwest Refineries if they paid 93 percent of the spot price.
That same ring in the varied karat amounts would be worth the following in spot price without figuring the reduction for the percentage offered by Midwest Refineries.
Based on gram value of gold , June 2, 2008
24K gold = 24 parts out of 24 parts is gold (approx. 100% gold) 28.64 per gram or $114.56 total
22K gold = 22 parts out of 24 parts is gold (approx. 91.6% gold) 26.23 per gram or $104.93 total
18K Gold = 18 parts out of 24 parts is gold (approx. 75% gold) 21.48 per gram or $85.92 total
14K Gold = 14 parts out of 24 Parts is gold (approx. 58.3% gold) 16.78 per gram or $66.78 total
12K Gold = 12 parts out of 24 Parts is gold (approx. 50% gold) 14.32 per gram or $57.28 total
10K Gold = 10 parts out of 24 Parts is gold (approx. 41.7% gold) 11.94 per gram or $47.70 total
That kind of puts a reality check on gold items that we are finding as far as their cash value. Takes a lot of rings to build up a fortune but we also have to count the health and happiness benefits that the hobby brings. That to me is invaluable.
The price of silver today per gram was listed as 56 cents per gram. That was depressing. I am thinking you could probably sell your silver jewelry on EBAY for more than you get for the metal. No so with gold. Pricing your precious stones would be much trickier since they are subject to so much variance on quality grading and sizing.
Happy Hunting! I am heading to the Panhandle for my next hunt. I have not been lucky there but I am going to give it another try.
DaChief
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