How to Find Value of your Gold Piece

1. How to Find Value of your Gold Piece Before your visit, a buyer to sell your gold, the biggest question that keeps running in your mind is what would be the valuation you get for your gold. Determining the value of gold is not very difficult math yet we rely too much on the buyer's party to tell us this. Let us figure out how to calculate the value of gold price. To find this, you need to understand how gold is rated by its purity, how is it measured, and how it gets a price tag. Purity The purity of gold depends on its quality which further can be measured in karats. The karat can be scaled from 1 to 24. Most of the time you see it stamped on gold with marks such as 10k, 14k, or 22k. The purity of gold can be determined by dividing the amount of karate by 24. So it means, 22 K is 92% pure while, 12 K is 50% pure. Determining Melt Value This may be a new term for you. But melt value of gold is equally important as its purity and weight. So how to determine the melt value of your gold piece? Let us understand it by example. For example, if gold is selling for $1,500 per troy ounce, the value of a 10-gram piece that is 15 karats would be calculated like this: Gold price per ounce: 31.1 Weight: 10g Purity: 60% (15k = 15/24, or 0.6) Price per gram: $48.231 ($1,500/31.1) Calculation: 10 x 0.6 x 48.231 = 289.389 So, the calculation gives us the melt value of $289.389 for this piece. Market Value Logically, you cannot expect the current gold rate while selling your gold piece at any jeweller shop or pawn shop. There are some obvious reasons for this. The gold buyers need to buy the gold at a rate that they can make a profit as they must run their business as well. The rate of gold is very unstable, and it changes daily. Therefore, the gold buyers need to protect themselves and to make sure to maximize returns when the price rises again. Sell Gold @ www.vegasgoldguys.com