Formula Used For Scrap Gold Value

Did you know that scrap value for your gold is not just made up out of thin air. There is actually a formula for each gold content level. I am talking about the karats like 14 K or 10 K. The first thing you will need to find is the current value of gold. Kitco Spot Gold Page is reliable and here's a link..

31.1 grams = 1 troy ounce

Spot Gold price is for a troy ounce. 

18 K Spot Gold multiplied by 75% and then divided by 3.1 grams equals the value of the gold.

14 K Spot Gold multiplied by 58.3% and then divided by 3.1 grams equals the value of the gold.

10 K Spot Gold multiplied by 41.6% and then divided by 3.1 grams equals the value of the gold.

9 K Spot Gold multiplied by 37.5% and then divided by 3.1 grams equals the value of the gold.

This will give you the value per gram. All that will be left to do is weigh your gold in grams and multiply by the value. Pay attention to the decimal points when calculating.

If that looks to difficult for you, find a calculator for scrap gold offered by several sites on line. Here's a link to the one on the Kitco site.

The Kitco company has a couple of apps in the play store for calculating scrap gold value on the go.