When you sell gold jewelry, it’s essential to find the value of your pieces before offering them to other buyers. However, there are several factors to consider when estimating the worth of gold jewelry, including karat, market value, and weight. To learn more about how to know if your gold jewelry is valuable, continue reading our blog.
Jewelers measure gold in karats to determine its composition value. The higher the karat number, the higher the quality of the gold jewelry. A visible print of the gold karat number should be present somewhere on the surface of all gold jewelry. If you cannot find the karat number or the print has been worn over time, a trusted jeweler can give you the best estimate of its karat value.
Although many people may not realize it, there are several different types of gold jewelry. Determining the type of gold jewelry you are selling before estimating its value can also be beneficial.
Before you can determine if your gold jewelry is valuable, you must review the current market price for gold. The market price of gold is listed as the price per gram. Since this number is constantly fluctuating and changing, it’s best to check this estimate multiple times.
Next, you’ll use an equation to find the price per gram of your jewelry’s karat value. First, divide the karat of your gold jewelry by 24. Next, multiply the sum of that equation by the price per gram market value. Review the equation below to summarize this step.
Karat value ÷ 24 = Sum
Sum X price per gram = price per gram of karat value
The last step for checking the value of your gold jewelry is to weigh each of your jewelry pieces. After you have individually weighed each piece by grams, you will multiply this number with the price per gram of a karat value from the previous step. Once you have finished this equation, you’ll have an accurate and approximate quote of your gold jewelry’s worth.
Price per gram of karat value X weight in grams = Final gold value
Although these equations may seem complex or confusing, the process of calculating your gold jewelry is simple when you examine this method step by step. If you have any questions or concerns about the measurements of your gold, seek out a trusted jeweler for expert guidance. The only secure way to know your gold jewelry is valuable is to take the time to estimate these calculations and ensure you’re receiving the best quote for your quality.
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