Old Gold is Still Gold

Most people are under the notion that old jewellery are not worth much and that they become ‘valueless’ as they go out of fashion, these people are completely misguided and many relinquish their old jewellery for a song as they do not realise that the gold content in the jewellery is still worth more than a thousand dollars for each troy ounce (a troy ounce is equivalent to 31.1 grams).

So based on this fact it is actually quite easy to calculate the amount of cash gold jewellery is worth, all one has to do is to divide the market price of gold that is usually presented in ounces and divide it by 31.1 to get the price of a single gram of gold. The simple math is, let us say that the prices of gold per troy ounce is 1000 dollars, divide it by 31.1 and you will get the price of a single gram of gold 1000/ 31.1 = 35.27 dollars per gram.

Now that you know how much gold is worth in terms of gram, it’s time for you to know how you should calculate the total ‘gold content ‘in your jewellery based on its karats. Karats represent the amount of gold in a particular piece of jewellery, for instance an eighteen karat necklace that weighs 4 grams would contain 3 grams of gold, the formula for this is also simple: 18/24 x 4 grams = 3 and then you multiply that with the price of gold per gram which in this case scenario would be 3 x 35.27 = $ 105.81 - which is the approximate value of the gold content, however remember that when you do sell it to a gold refinery or broker, they would pay a sum that would be slightly lower than 105.81 because of the costs that they would incur to extract the gold from the jewellery piece.

Basically what you would have to do is divide the karat imprinted on the jewellery by 24 (24 karats is pure gold, thus 12 K would mean that half of the jewellery piece is made out of gold) and multiply that with the total weight of the jewellery piece. Thus a 22 karat gold chain that weighs 20 grams would be worked as:
22/24 x 20 grams = 18.33 grams, which means that the 22 karat gold chain that weighs 20 grams contains 18.33 grams of pure gold which should then be multiplied with the price of a single gram of gold which would make that 22 karat gold chain that weighs 20 grams worth 18.33 x $ 35.27 (supposing the price of gold is at 1000 dollars per troy ounce) = $ 646.61.

There are many gold merchants that offer cash for gold in Melbourne, Brisbane, Perth, Sydney and Adelaide and the transactions are relatively straightforward with most of these merchants paying in cash as soon as they asses the gold that you bring in. The reason why most people are not aware that they could get cash for gold is due to them not realising that the jewellery contain gold or due to the fact that they think only pure gold has resale value.

What needs to be understood here is the fact that gold is scarce and therefore it will be recycled over and over again regardless of where it is contained jewellery or electronic components. In other words, if you have anything containing gold... it is worth money.
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About Parvesh Bravo

I am professional blogger share guide about WordPress, blogging tutorial, seo techniques, making money from blog and getting traffic to the blog.
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