Do you have scrap gold at home? Are you snooping to sell your junk gold for the best price? Dental gold, scratched gold necklace, gold extracted from an electronic gadget and gold fillings are some example of junk gold or scrap gold. If you are ardent, you can make money from scrap gold. To earn the greatest profit from these gold items, you ought to compute your scrap gold prices per gram first. This way you will have a clearer picture of how much you will be able to sell your pieces for.
Find out the worth of scrap gold by calculating it using the present value of gold. Facts on the present value of gold is available in local papers or websites that tracks the value of gold in the global market. Take note that the value of gold changes frequently. The standard measurement of gold is troy ounces or 31 grams.
Once you have determined the worht of scrap gold by gram, divide the value by 31.1035. After which, round off the value to the nearest cent. For example, if the present price of gold is $1500 per troy ounce, then the price per gram is equals to 1000, simply divide it by 31.1035, or $48.2260. Round it off to the nearest cent and you will get $48.23.
Get a gram scale. Nevertheless, if you have a pile of scrap gold to balance, it will be best to measure the scrap gold items on a scale that accurately weighs ounces. Once you get the weight by ounces exchange the figures to grams. Keep in mind that 1 ounce is equals to 28 grams of gold.
If you have a collection of junk gold pieces, file it out and weight them correspondingly. You need to separate each junk gold pieces by grades. Generally, gold is defined by their karat grade. For example, a gold item is equals to 10k, 14k, or 18k. 24k is pure gold, don’t assume to see a gold piece jewelry as 24 karats, as pure gold tends to be very ductile. As a result, most gold jewelries are mixed with other types of metals and alloys to make it hard-wearing. You can detect the karat grade carved on the gold items. You may also use a magnifying glass if necessary. Check if there are gold plated pieces in your collection. Do not include them.
Once you distinguish the karat grade of your scrap gold, multiply the gold price using the following guide. For 10 karat gold, multiply the present price of gold per gram by .4167. For 14 karat gold, multiply the gold price per gram by .5833. For 18 karat gold, multiply the present price of gold per gram by .75 and finally for 24 karats, simply use the price of gold per gram.
If you think that the computations are too challenging for you, you can use an online calculatorr. Simply, provide them with the actual weigh of the gold and the karat grade if available. The online calculator can help compute the gold price per gram for you. Once you get the value of your scrap gold per gram, you can now sell your pieces to an online junk peddler or a coin dealer. The former however can give you a low price for your items. So if you can find a coin dealer who wishes to get your items, you can sell your items to them and they can offer you a better price as compared to a scrap gold dealer.
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