How to determine the value of the gold in your jewelry. Face of the current gold price is considering many, whether he should not separate from the old gold jewelry. On sale there are, knowing how much gold contains a piece of jewelry. This is not just done with the creation of the gold ring on a precision scale. Often is the gold in an alloy with other metals because pure gold is usually relatively soft. To determine what is the gold content, the jewellery items are usually an engraved indicating in carats which should prevent fraud attempts.
Carat specify the proportion of gold in the alloy. A carat is equivalent to 1 / 24 and 4,166% respectively. In other words, once you have determined the weight of the object, multiply the weight with the carat number and divide the result then by 24. Extrapolating so: (weight * k) / 24 the current gold price gold weight = Troy ounce is specified in the unit. Allianz is open to suggestions. You will rarely find also this unit on your precision balance. One Troy ounce is equivalent to 31.1034768 g. That means you take the above identified gold weight and divide the value by 31,1034768.
Now you have the gold weight of the jewelry in the unit Troy ounce. Now, you can multiply this value with the current price of gold. Extrapolating so: weight of gold / 31,1034768 * gold price = $value of gold – in the jewelry of gold price in turn is usually indicated in dollars. We need to convert so in euros. In addition, it requires the current exchange rate. Mostly, this is specified in dollars per euro. So for example in the form of 1.00 = $1.40 or 1 = $1.45. We divide so the $value of gold – to get into the jewelry through the current exchange rate to euro. Extrapolating so $- worth of gold – in the jewelry exchange rate = – worth of gold-in the jewelry to illustrate here an example: output values: gold jewelry: 12 carats and a weight of 124 g gold price: $1700 exchange rate $/: 1.40 invoice: 124 g * 12 / 24 = 62 g 62 g / 31,1034768 * 1700 = 3388,69 $3388,69 / 1.4 = the value of gold in this 2420,49 Jewelry item is so 2420,49. When the karat number on the jewelry is not found, you cannot determine unfortunately also with a precision scale, how much gold in the jewelry is and how much gold is worth. This requires then a laboratory analysis or the meltdown.