Ok. So you have some gold that you want to scrap but your not sure who really offering the best price. Its really easy to work out the value of gold. In order do do this you need to know a few things
1) Weight of Gold you have – grab yourself a set of scales and weigh your items
2) Current price of gold – grab it from kitco.com its quoted in $ per troy oz
3) Carat of the gold – get this by checking the hallmark ( we have a post on this already )
Once you have got all this information you can work out the value of gold in the item. The formula below will tell you the current value per gram for the carat of gold you want :
( Carat of Gold /24 ) * Gold Price $per troy oz ) / 31.1
Then just multiply this by the number of grams of gold you have in dollars. Viola you know the value of the metal in the jewellery. Its imporant to note that if you jewellery is set / enamelled etc you can include this in the weight as its not gold and people offering to scrap it for you will not pay out for extra weight thats not gold.
Now you can go in with you eyes open as to what price someone should be willing to pay for your scrap.