With the price of gold climbing daily (as of this writing, over 1,000.00 an ounce), many people are rummaging through their jewelry in hope of making a few extra bucks by selling their old and broken pieces. Determining how much it's worth requires knowing exactly how to calculate the value of scrap gold.
What is 'Scrap Gold'?
Anything that is made of gold (not plated or filled), whether broken jewelry, dental gold, nuggets or coin has worth and is therefore salable. Care should be taken when selling old coins or antique pieces to ensure that any collectors value does not exceed the actual price of gold.
How To Calculate the Value of Scrap Gold
You will need:
- Magnifying Glass
- Any scale that can weigh by the gram
- A Calculator
- Gold
Step 1 - Sort the Gold by Karat
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