What is the Current Price of 10k Scrap Gold
What is 10k Gold
Gold that is used in jewelry and dental fixtures is usually part pure gold mixed with other metals such as nickel, silver and copper. The amount of pure gold in any item such as jewelry is reflected by its karat value. Pure gold is 24 karat so to find out how much gold is in10 karat gold simply divide 10 by 24 and multiply it by the weight of the piece of jewelry.
For example you have a 10k ring that weighs 5 grams.
10/24 = 0.416666
0.41666*5 = 2.0833 grams of pure gold.
Calculating the Current Price of 10k Scrap Gold Ounces and Grams
The next step is to calculate the current value of 10k gold.
- Take the current price of gold - lets say $1300 per troy ounce
- Multiply 1300 by 0.416666
= $541.66 per troy ounce for 10k gold
If you want to work out the value of an item in grams then divide the price per troy ounce by 31.1034768.
Going back to out example of the 5 gram ring.
Divide 541 by 31.1034768 = $17.41 = Value of 10k gold per gram.
Our ring is 5 grams so value = 5 x 71.41 = $87.07
You can also get the current price of 10k 14k 18k 22k gold by downloading the Gold Price Live App ( link below) to your phone!
Gold Bug Scrap Gold Calculator Iphone/Android App
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