How to determine the price of gold?

Question

If i have a gold ring how can i determine how much it is roughly worth? thank you

Answer 1

Jewelry  Is graded in carts . This is the percent of gold in the metal the ring is made of say 10k is 50% gold . Now you weigh the ring and then divide in half to get the gold content . If the ring has artistic value that could add value because it would be resold not melted down for the gold .

Answer 2

Rings sell for more than the value of the gold in them, but the gold content guarantees a certain value.

Weigh the ring, and see if it's stamped with  a K number, such as 24K, 18K, etc.  24K is pure gold, but pure gold is soft, so rings are usually an alloy.  18K gold is only 75% gold,

12K would be 50% gold.

Gold value = weight in troy ounces (31.1 grams / troy oz.) times the percentage of gold times the current price of gold.

The price of gold changes all the time, this morning I looked and it was $922.00 / oz.

http://www.kitco.com

The ring is worth more than the price of the gold in it, but in the end it is worth whatever someone will pay you for it.

Answer 3

That's pretty difficult to say. Pure gold is worth about $930/ounce, but your ring is not pure gold. And your ring has been fabricated, so depending on how well it is crafted, it's likely worth more than the actual gold content.