Sell Gold Confidently
November 16th, 2009
52 g of gold
It can be tricky trying to sell an item if the value cannot be readily established. Luckily, when it comes to selling gold, the value is easily calculated and should be your first step prior to selling your gold to anyone. For the typical client selling a handful of jewelery follow the steps below to help you get a better idea of the value of your gold. The following example is for a medium weight 18K necklace, three 14 K rings and assorted 10K ear rings and light necklaces. These items would fit comfortably in the palm of your hand.
Step 1- Know the karat, gold content, of your items.
If you can read the hallmarks sort your items into 10k, 14k, and 18k. If you can’t read the hallmarks don’t worry just skip to the next step.
Step 2- Weigh your items.
It helps to have a scale but if you don’t, you can come close to establishing the weight by doing a hand comparison with coins. A loonie, quarter and penny weigh 7, 5, and 2 grams.. For example if your 10k pile feels like two loonies and a quarter that would suggest you have about 19g of 10K. If you have the time, place your items in a baggy and confirm the weight at your local post office.
If you could not see the hallmarks, try to sense the weight of all the items combined.
Step 3 – Calculate the dollar value
For example, if you determined you had 19g of 10k, 12g of 14k and 21 g of 18k, at the Nov. 16 2009 prices, that would add up as follows:
10K 19g x $11.01 = $209.19
14K 12g x $15.41 = $184.92
18K 21g x $19.81 = $416.01
________
Total $810.12
If you could not read the hallmarks you can still estimate the range by applying the total weight of 52g to the 10K rate and the 18k rate. This would give you a ballpark range of $572.52 to $1,030.12. Not great but much better than not knowing at all.
Knowledge is power, know the value of your gold.
If you have an assortment of gold items that seems too daunting to evaluate, ask for a consultation. I will be happy to help you know the value of your items.