How much money should I expect if I sell my gold for scrap to a jewler? ?

Question

It is 14k and weighs approx. 1 1/2 ounces on the postal scale at work.

Answer 1

Spot gold price is currently $835 / troy ounce.  The postal scale measures in avoirdupois ounces, 28 grams to the ounce.  So you have 42 grams of 14K gold which is 14/24, or 58.33% pure gold and 41.66% something else.  So multiply 42 x ($835 / 31.1)  * (14 / 24)

I have a spreadsheet that does it, it puts 14K gold at $15.66 / gram, and spot price on your gold is $657.72.

Now, spot price is a funny number.  If you are buying, people may charge you a lot more than spot, or a little more than spot, but never less.  When you are selling, people will offer you much less than spot, or a little less than spot, but never more.

You can check the spot price anytime here:

http://www.kitco.com/

Grandpa

Answer 2

I recommend checking it out online.  If you visit http://www.mycashforgold.info  you should be able to get a good idea.