Selling your jewelry is an easy way to earn some money for things you no longer need or want. The problem that most people run into when selling jewelry is, not knowing how much their gold is worth. Whether the jewelry is made from gold, silver, or another precious metal, they will all be valued in the same way. If you have found yourself asking “What is my gold jewelry worth?”, you may be surprised to hear you only need three things to find the value.
|Instant Quote||Shipping Method|
|#1||$5,000||A+||30 Days||11 Years||Yes||FedEx|
|#2||Actual Value||A+||None||4 Years||No||FedEx|
The weight of your gold or jewelry is very easy to determine if you have a scale available. Precious metals are often measured in grams/ounces. You may have jewelry with other precious metals included and this is where purity comes in.
Often times, metals are mixed with one another and this will reduce the precious metal purity if mixed with another alloy. The purity of the gold can be found from markings on the jewelry or through documentation. 24 karat gold is considered 100% gold, so 12k would mean 50% and so on.
Gold and the other precious metals are a commodity that’s price will always be changing. Obviously the best time to sell is when the price is high, and you can forecast some of these price increases with some research.
Now that you have all three of the things listed above, you will be able to find how much your gold jewelry is worth. The formula to find the value looks like this:
(Weight x Purity) x Price = Value
(12g x 18k) x 1100/oz = Value
(12 x .75) x 38.81 = $349.29
First, convert your units so that everything is in grams and the purity is in decimal form. This is how you can find what your gold jewelry is worth. It can help if you are negotiating or just to give you an idea of the value.