Gold has long been coveted for its beauty and value. Gold is certainly something that not only maintains its value but actually increases over time. If you have old or unwanted jewellery, coins or other objects made with gold, you may want to consider selling them at a pawn shop. The price of gold continues to go up over time. Gold, like other precious metals and commodities, is traded globally on the world market. The price of gold per gram fluctuates on a daily basis.
How to Calculate the Price of Gold per Gram
There are many options available for finding the current price of gold per gram. Since the price varies from minute to minute and day to day you will want to calculate the price on the day that you plan to buy or sell gold.
If you have gold to sell you will need to know how much gold is in the particular piece. Jewellery and other items are rarely made of pure gold. Pure gold is also known as 24 karat gold. Most often it is mixed with other metals that make it stronger and more durable. For example, you may have a piece of jewellery that is 18 karat or 14 karat gold or less.
Once you know how much gold is in your particular piece you can weigh it to calculate how much it is currently worth. Gold is measured in troy ounces. Therefore, you will need to convert the price per troy ounce to the price of gold per gram. There are online calculators that will convert these values for you when you plug in particular values.
Keep in mind that you will need to reduce the price based on the reduced amount of gold that is in your particular piece. For instance, if your piece of jewellery is 18 karat gold that means it has 18 out of 24 units of gold. Therefore, the value for the object would be slightly reduced. It is also important to remember that if your jewellery contains stones you must eliminate their weight when you perform your calculations.
Pawn Shop in Vancouver
While you can try to figure out the value of your gold on your own, the best and most accurate way is to take it to your local pawn shop. The pawn shop experts know how to evaluate and measure gold and will be able to quickly determine how much a particular item is worth.
This is also helpful if you do not know the amount of gold that is contained within a piece. The gold can be tested to make sure that it is real and to evaluate how many karats the gold contains. This will determine the price of the piece and how much you will be offered if you plan to sell it.
Selling unwanted gold jewellery and other items is one of the best ways to get some cash. You will be able to bring your items into the pawn shop and leave the same day with money in your pocket.
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