I need to know the value of my gold chain???

Question

I have an 18k gold chain and pendant...I think its called the cubana chain...but i want to know the pennyweight of it...I am trying to sell it and want to get a descent price for it but i really want to know how much it will be..its a little heavy but i don't know anything about pennyweight and how much it can cost...please help

Answer 1

There are 20 pennyweight in 1 troy ounce which is 31.1 grams.

Yes, it's a screwy system, it's much worse than that.

Anyway, weigh your mecklace in grams.

Gold is selling for $789.10 / troy ounce, or about $25.37 /gram.  Multiply that by 3/4, because it's 18K.  So the gold in your necklace is worth $19.03 times the weight of the necklace in grams.

The necklace is not a lump of gold, it is a work of art.  So it is probably worth more that the amount you calculated.  But it will never be worth less than the gold in it.

Grandpa

Answer 2

if you're selling it to an online refiner, use this calculator to give you a good estimate http://www.goldintomoney.com/calculator