Gold Calculation 101

Gold Calculation 101

What is a Good Price?

By now you know the type of jewelry you have for sale, the weight and the purity. You are ready to learn how to figure the value of your gold jewelry. Remember your calculation of the gold disco jewelry in our ‘Gold Purity’ tab? It was based on .999 (24k) spot gold price of $1500 a t.oz. You converted the .999 spot price to the actual purity of your gold .585(14k) and .750 (18k) either of which is not pure so it will need to be refined. The point is this process costs money. And then the gold buyer needs to feed his children and pay bills. And if the buyer is reputable, in most US states, the gold purchase will need to be held for a period of time (10 to 30 days) while the local authorities review the purchase to make sure no monkey business is going on. A lot can happen to the value of gold over 30 days! Factor this into the price a gold buyer will pay. In other words don’t expect full market spot price for your scrap gold jewelry.

How Much Money Should You Expect

Gold buy prices obviously vary from buyer to buyer. If you plan on selling your gold to a mail-order firm or a mall-kiosk expect the 20-year old employee to pay in the neighborhood of 25% to 40% of spot gold. In other words they want to keep up to 75% as profit. These places are more of a convenience for the gold seller and you end up paying a lot for it.

Head to a pawn shop or a local retail jeweler and expect to see values rise from 30% to 60% of spot gold. This means they want to make up to 70% commission. Sometimes your best bet is your own family jeweler! However, your goal should be 70% or more of the gold market. That leaves the gold buyer with 30% or less commission. And keep in mind the higher the gold jewelry purity and the more scrap gold jewelry you have to sell the better the payout in terms of a percent of spot gold. Again, your goal should be 70% of more of current spot gold so with that said let’s get back to your hypothetical disco jewelry deal.

Your disco gold jewelry is valued just over $1700 based on 100% of current spot gold market, right? Your goal is to sell it for at least $1200. So before your go out-and-about know the price your want for your gold and have your quotes from gold buyers ready. Make appointments with gold buyers that have: Quoted a price on the phone or email; Made you feel comfortable; Have a positive reputation; A specialization in the type of gold jewelry you are selling. You are now ready to venture on to the lion’s den!

Click on the ‘Gold Buyer’ tab to familiarize yourself with the final element required to maximize your gold jewelry sale.

Share

8 Comments

  1. I’m sure the best for you replica gucci bags , just clicks away huFwKKUM http://replicagucci.medykblog.pl/

  2. my very own first and foremost interest incidentally is temporary car and van insurance policies and it facinates me how so many almost invariably intelligent car drivers don’t consider the fact that thoughtless driving can be a destroyer of careers.

  3. Really glad I found this information, thanks

  4. Good day, Well put together article. Likely to issue with all your website around world wide web internet explorer, might click here? For instance is still the industry head in addition to a massive area of other folks will leave out your excellent writing for this reason difficulty.

  5. Nice post. I’d been looking at constantly this particular weblog that i’m empowered! Invaluable information and facts exclusively the eventual part :) I sustain such information much. I had been interested in this particular a number of information for your number of years. Thanks a lot and also of success.

  6. My programmer is trying to convince me to move to
    .net from PHP. I have always disliked the idea because of the expenses.
    But he’s tryiong none the less. I’ve been using WordPress on a number of websites for about
    a year and am anxious about switching to another platform.

    I have heard excellent things about blogengine.net. Is there a way I can
    transfer all my wordpress posts into it? Any help would be really appreciated!

  7. Helpful information. Lucky me I found your site accidentally, and I’m surprised why this accident did not came about earlier! I bookmarked it.

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>