KNOW THE PURITY OF YOUR GOLD
10k is = to 41.7% pure gold, and jewelry typically refines to 41.0%
14k is = to 58.5% pure gold and typically refines to 57.0%
18k gold is 75% pure gold averages 75% exact
WHERE TO START
Start by separating your gold by Karat. Put all the 10k in one pile, the 14k in a pile, and 18k. Next, weigh your gold on a kitchen scale using the gram function. Write down the weight of each gold category. Next, check the price of gold per ounce. Write the price down and follow this math to get the price per gram for each group.
HOW TO CALCULATE THE PRICE PER GRAM
10k weight x .0127 x Gold Price Per Ounce = price per gram
14k Weight x .0172 x Gold Price Per Ounce = price per gram
18k Weight x .0224 x Gold Price Per Ounce = price per gram
To get our lowest bid deduct 20% from the price per gram. To get our highest offer deduct 5% from the price per gram.
If you are not being offered these scrap gold prices, you are not being paid enough; if you have any questions feel free to text or call us at 212-390-8561.