If you want to sell scrap gold and wonder how much money you will get, you should give this scrap gold calculator a look. It is a tool that estimates the gold value basing on its weight, purity (either by karat or percent) and the market price. You can also use it for other precious metals, such as silver. If you want to learn how to use this gold price calculator, just keep reading!
The term "scrap gold" refers to gold that must be melted and recycled before it is put to any use again. Your gold sample will have several characteristics that you have to define before you will be able to sell your scrap gold piece. These characteristics are listed below.
Let's assume you have done some tidying in your parents' old house and have found a box of old golden jewelery. After careful inspection, you divided it into two batches - the first one is 18-karat gold (the most typical jewelery gold), and the second is 9-karat gold (a cheaper sort). You want to know how much it's worth, should you try to sell it.
18/24 = 75%pure gold, while the 9-karat gold has only
9/24 = 37.5%pure gold. If you have problems with this step, just use the fraction to percent calculator.
120 * 0.75 = 90 gpure gold, and in the second one -
350 * 0.375 = 131.25 gpure gold.
90 + 131.25 = 221.25 gpure gold.
221.25 * 39 = 8628.75. Your box of golden jewelery is worth $8628.75!