Understanding Gold Purity
Gold purity determines the actual gold content in your item and directly affects its value:
- 24K (999): 99.9% pure gold - Investment grade bullion
- 22K (916): 91.6% pure gold - Common in Asian jewelry
- 18K (750): 75.0% pure gold - High-quality jewelry standard
- 14K (585): 58.5% pure gold - Popular in US jewelry
- 10K (417): 41.7% pure gold - Minimum karat for US jewelry
The remaining percentage consists of alloy metals like copper, silver, or zinc that add strength and color.
Scrap Gold Valuation
When selling scrap gold, understanding the calculation process helps you get fair value:
- Weigh Your Gold: Use a precise scale to measure in grams or troy ounces
- Identify Karat: Look for stamps like "14K", "585", "18K", or "750"
- Calculate Pure Gold: Total weight × Purity percentage = Pure gold weight
- Multiply by Price: Pure gold weight × Current spot price = Melt value
- Expect Dealer Discount: Refiners typically pay 70-95% of melt value
Common Gold Items
Different gold items typically contain varying amounts of pure gold:
- Wedding Rings: Usually 14K or 18K, weighing 2-6 grams
- Gold Chains: Commonly 10K-18K, weighing 5-30 grams
- Gold Coins: Often 22K-24K, weighing 1-31 grams (1 oz)
- Dental Gold: Typically 10K-20K, variable weight
- Class Rings: Usually 10K-14K, weighing 10-20 grams
- Gold Bars: Investment grade 24K, common sizes: 1g, 10g, 1oz
Gold Weight Conversions
Gold can be measured in various units depending on region and purpose:
- Troy Ounce (ozt): Standard for precious metals = 31.1035 grams
- Gram (g): Metric standard, widely used globally
- Pennyweight (dwt): Common in US jewelry trade = 1.555 grams
- Tola: Traditional South Asian unit = 11.66 grams
- Tael: Chinese unit = 37.5 grams (varies by region)
- Grain (gr): Smallest unit = 0.0648 grams