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Help does anyone know te price of gold right now?

 
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BuyAtJoes



Posts: 79

PostPosted: Wed Apr 16, 2008 2:05 am    Post subject: Help does anyone know te price of gold right now? Reply with quote

I just put a lot on of 10k and 14kt I think I low balled it. Does anyoe know what the price of gold is right now and how many grams are in a ounce? I will probably be sorry for selling it so cheap but I just don't know ow to break it down.... I need some good advise please Smile
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thelivesandlovesofmaggiethecat



Posts: 9949

PostPosted: Wed Apr 16, 2008 2:29 am    Post subject: Reply with quote

Last I paid attention it had gone over $1000 an ounce. People were taking odd earrings, broken chains and hated pieces to gold shops and selling it. That was a few weeks ago.
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thelivesandlovesofmaggiethecat



Posts: 9949

PostPosted: Wed Apr 16, 2008 2:30 am    Post subject: Reply with quote

Computer stuck again.
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bigtallmensclothing
moderator


Posts: 21854

PostPosted: Wed Apr 16, 2008 2:49 am    Post subject: Reply with quote

http://goldprice.org/ says it's $930.82 an ounce at this moment

1 ounce = 28.3495231 grams
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thelivesandlovesofmaggiethecat



Posts: 9949

PostPosted: Wed Apr 16, 2008 12:52 pm    Post subject: Reply with quote

That means your lot of 45 grams is under-priced.
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TexasTreasures
moderator


Posts: 3467

PostPosted: Wed Apr 16, 2008 5:09 pm    Post subject: Reply with quote

Hhmm-makes me wonder if I could slip hubby's ring off him while he's asleep....
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barkrock



Posts: 136

PostPosted: Thu Apr 17, 2008 8:42 pm    Post subject: Reply with quote

http://www.kitco.com

Will give you the VERY current and historical prices of gold, silver, platinum, palladium and rhodium (just in case you have any of THAT laying about!)

Remember, though, that quoted precious metal prices are for PURE metal. Pure gold is 24 KT; which means that 14 KT gold is only 14/24 gold. Sterling silver is 925/1000 silver.

To put that in simpler terms, to figure the value of the metal content of gold jewelry:

Weigh the gold jewelry in TROY ounces (different from the ounces on your postal scale!) Multiply the weight x the spot price of gold. Then divide by 24, and multiply by the karat proof (10 or 12 or 14 or 18 or 22) of your piece. You now have the current spot value of the gold.

Sterling silver works pretty much the same way. Weigh the item, multiply weight (again, in troy ounces) x the current spot price of silver. Multiply that result x .925, and you have the spot value of the silver.

Now all this gives you the current SPOT price. Unless you happen to be a major world dealer in precious metals (if so, why in the world are you listening to ME??), don't count on getting spot price. Ordinary mortals will be able to sell ''scrap'' metal for a percentage of spot price on a given day; usually around 85-90%.

Clear as mud? Smile
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thelivesandlovesofmaggiethecat



Posts: 9949

PostPosted: Thu Apr 17, 2008 9:16 pm    Post subject: Reply with quote

How do you measure in Troy ounces and on what?
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barkrock



Posts: 136

PostPosted: Thu Apr 17, 2008 9:44 pm    Post subject: Reply with quote

I use a scale that weighs in grams (also carat/grains), which makes the process a bit easier; but I don't think many people in the US have access to one.

I'll try again, taking the different weight systems into account.

COMPUTING THE VALUE OF SCRAP GOLD
1) Ascertain that your pieces are, in fact, solid gold; NOT marked HGE or GF. Determine proof; i.e., 9kt, 10kt, 12kt, 14kt, 18kt, 22kt, etc. Solid gold pieces are marked 99.9% of the time.
2) Weigh your SOLID gold items - ALL THE SAME KARAT PROOF - in avdp. ounces. (That's the ordinary scale used in the US.)
3) Multiply by .91146. This will convert the weight to troy ounces.
4) Look up the spot price of 24 karat gold.
5) Multiple troy weight x spot price; divide by 24 then multiply by the kt. of your item.
6) Multiply this result by 85-90%. That will give you the dollar amount you can reasonably expect to get from a dealer.

COMPUTING THE VALUE OF SCRAP SILVER
1) Ascertain that your pieces are, in fact, sterling; usually marked ''.925" or ''sterling''; sometimes simply marked with a rampant lion among other esoteric proof marks. Silver plate is not sterling. Silver coins are generally NOT sterling.
2) Weigh your SOLID silver items in avdp. ounces. (That's the ordinary scale used in the US.)
3) Multiply by .91146. This will convert the weight to troy ounces.
4) Look up the spot price of silver.
5) Multiple troy weight x spot price; multiply by .925
6) Multiply this result by 85-90%. That will give you the dollar amount you can reasonably expect to get from a dealer.

I hope that makes it a bit easier!

Not really crucial, but in case anyone cares...
1 ounce avdp = .91146 ounce troy
1 ounce troy = 1.0971 ounce avdp.
1 ounce troy = 31.1035 grams
1 ounce avdp = 28.3495 grams avdp.

A measure often used by jewelers for gold is pennyweights. There are 20 pennyweights in 1 Troy ounce; 18.229 pennyweights in 1 ounce avdp.

I'd better quit, as my eyes are starting to glaze over. I can only imagine what I'm doing to everyone else! Embarassed
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mypotogold



Posts: 61

PostPosted: Fri Apr 18, 2008 8:26 pm    Post subject: Reply with quote

Hmmm, maybe I should finally sell my old wedding ring!
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superkawaiidesigns



Posts: 32

PostPosted: Sat Apr 19, 2008 8:00 am    Post subject: Reply with quote

haha your hilarious. Don't forget to check his mouth for any gold fillings.
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barkrock



Posts: 136

PostPosted: Sat Apr 19, 2008 4:31 pm    Post subject: Reply with quote

Gold teeth are, in fact, a source of 10 kt. gold.

And I don't really want to think about this!

I actually have some gold crowns - my own, in fact. (Somehow that makes it a little less gross to me.) I had to have my crowns redone a couple years ago. The dentist handed me the old ones.

Still don't want to think about this!

I still haven't had the nerve to present them to our local scrap buyer. I'm going to have to melt them down into an unrecognizable lump or something first!

It's still more likely to happen than the wedding ring thing. I am amazed, though, at the fact that I've been able to buy gold wedding rings VERY cheap at estate auctions. Everyone goes nuts bidding on the diamond; but passes up the gold. That's crazy, as diamonds are like new cars...the price at resale drops dramatically. The gold is usually worth more!
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ThePlaceForBeautifulJewelry



Posts: 44

PostPosted: Sat Apr 19, 2008 5:23 pm    Post subject: price of gold Reply with quote

I had some gold bridges that had to be replaced (still have one in my mouth) and the dentist gave them to me. I took them along with a tennis bracelet that kept breaking and had a beautiful ring made from that gold and some of the diamonds in the bracelet. Still have the other diamonds in a bag. When I placed my last order for jewelry, my wholesale price had really gone up because of the price of gold! June
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coinsryou



Posts: 33

PostPosted: Sun Apr 20, 2008 5:39 am    Post subject: Reply with quote

Check monex.com daily and it will give you updates on prices of valuable bullion.
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