Find The Value of Your Gold
The price of gold changes constantly. It is traded around the clock, so the actual value of your gold jewelry is changing all the time. With gold posting positive returns relative to the USA Dollar for every year the past 10 years, its increase in price has made cashing in unwanted gold jewelry a very valuable proposition. If you’re looking to get some fast cash, we’ll help you figure out what your valuables are worth.
What is the Purity of Your Gold?
The first step in figuring out the value is to figure out the purity of your gold. Typically gold comes in even karats: 8, 10, 12, 14, 18, 20, or 24 karat gold are the most popular. The karats, or purity, is the percentage of the piece of jewelry that is composed of solid gold. 24k is pure gold, and the lower amounts represent a percentage into 24kt (12k gold is 50% gold). The higher the karat, the higher the value.
Most pieces are marked with their karat value. On the inside of your ring or jewelry, a small number is usually engraved into the gold. Sometimes it will say the actually karat value, and other times it will be a number. For example, if it says 875, the piece is 87.5% gold. That would mean it’s 20k. You’ll need that to use our gold value calculator.
How much does your gold weight?
Once you put the gold in separate piles based on purity, you need to know what each pile weighs. You need to weigh each pile of different karat gold individually to calculate the value properly. Record the total weight of each pile.
Calculate the value!
Now you’re ready to use our gold value calculator to figure out how much your gold is worth. Enter in the karat amount and the weight of your gold, then hit the big red equals sign to find the value of your gold. Write down each calculation, total them up, and you’ve got the value of all your gold.
Tips for Selling Online
The calculation will give you the approximate value of your gold based on the current market price of gold. Cash for gold companies will pay you less than the market price for gold (not a big surprise), so typically you can expect between 60-80% from an online gold company, and local buyers will usually offer 30-60%. You’ll get a better deal sending your gold in online, but of course you can sell locally as well.