Jewelry Appraisal Center

Gold Value Question: I have some old rings, 14k and 18k, i think, without stones. Old family stuff.

How the devil do i figure out the gold value of these rings??

The same with old coins, pre 1965 (silver).

I want to sell them but i wouldn't know a fair price or not.

Can you help??

thanks. Jack.

My Answer to the Gold Value Question:

G'day Jack and many thanks for your query.

The question of Gold Value is the easy part, once you know exactly what you have - But you have to prove it first.

Once you have the price of gold per ounce, you can easily calculate the value of your items. But here is where most people get confused because the price of gold is published for PURE GOLD ONLY - not the 14k or 18 karat quality you have suggested.

So here is the formula:

Take the price of gold and divide it by 32 (the number of grams in one ounce) and then divide that by 24 (the quality of pure gold). This will give you the gold value of 1 gram at 1 karat.

Still with me? Good...

Then multiply that dollar amount by the quality of your item (say 18 - because it is 18 karat gold) which will give you the gold value of 1 gram of 18 karat.

Then multiply that figure by the weight of the item. If it's a ring, it would usually weight between 3 to 7 grams, but you might have a Kitchen scale to prove that. Try and get it as accurate as possible.

So now you have the Gold Value of your item - AS A BASE TRADE PRICE - not retail etc.

Depending on where you live, you should now multiply the whole thing by say 2.5 because the jewelry industry likes to double their money and the taxes take up the rest.

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Now this is a very simplified version of Gold Value, so please don't hammer me because I didn't take into account the antique value or the Handcrafted item over a cast one. This is just a simple exercise.

Please leave a comment and let me know if you would like a calculator on this site to take all those values and simplify the whole thing. If enough people ask - I will get one installed for everyone to use - SO TELL ME  - Okay!

You need to get these items appraised by a qualified gemologist Valuer and get a written appraisal. They will charge you for this service, but it is the only way you are going to know for sure - otherwise you're just guessing.

Or you could search places like eBay for something similar.

Once you have done that - then you have to look at the question of Supply and Demand. Just what can you get on the open second-hand market.

This Gold Value price has NOTHING TO DO WITH YOUR APPRAISAL.

I have recently added an article on my website which you should read. It is here:

How to find the Gold Value. Truths and Myths You might also like to add this query to my jewelry forum at http://www.online-jewelry-appraisals.net/jewelry-forum/ as other may have had a similar problem. Can't hurt anyway and who knows what answers you may get.

Hope this helps.

You can also get the Gold Value at today's prices for Signet and other similar rings because they can all be valued using our Jewelry Appraisals Online system.

Well worth considering...

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