thinking of maybe selling a 24’ 14k Italy gold chain

[19COINFINDER58]

Hello to all.

I have been thinking of maybe selling a 24’ 14k Italy gold chain I purchase a long time ago.

 

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[585925]

He offered you a fair price. Spot prices are based on 24kt pure gold per ounce. Today's spot price was $1750.00. A troy ounce of gold weighs 31.1 grams. 14kt gold is .58333 pure. Based on today's spot price of $1750.00 per ounce, you would divide the $1750.00 by 31.1 to come up with a price of $56.27 per gram, but that's based on 24kt. Now multiply the $56.27 by the karat fraction of .58333. That equals $32.82. Now multiply the $32.82 by the weight of your necklace (29.6 grams), and the value of your necklace at today's spot price would be $971.47. He's making a little off the deal but you could have gotten far worse offers. Hope this helped.

 

[19COINFINDER58]

Thank you for the info. It helps me out big time