Gold Ring

[EricJazzers]

Just a quick hello and hope this finds everyone well. I'm new to this site and new to this hobby. 1st time using my Tracker IV, I found a Gold Ring. I had someone appraise it and leaned that it's a 16K and weighs 1/2 once. I understand Gold is a commodity thus price vary day to day base on the market but I was offered $320. Does anyone know if this is something I should sell or keep? I'd love to get some personal feedback. Thanks!

 

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[flinthunter]

The gold value of your ring depends on whether it's weight is 1/2 ounce U.S. or 1/2 ounce troy. Since we don't know exactly how many grams your ring weighs my figures say that the gold value is roughly around $540 U.S. to $600 troy. If the offer to buy was from a person who resells precious metals then he will offer you less than the rings actual value so he can make a profit. In this case it looks like he offered you around 60% of its value. Check around, you should be able to get a little better offer.