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When And Where To Sell Gold

Article by CJ Pennington

Where to sell gold? Selling gold is more simplified than ever. There are gold buyers advertising in every city. Don’t believe that these people all pay topmost dollar? They likely don’t.

These gold buyers have to shell out for their advertising some how. Here are a couple of of things you must know before you sell your gold. There are three main ways gold buyers will figure the weight of your gold: DWT, gram and ounce.

DWT’s are pronounced “penny weights” (It’s a mystery to me as to why). This is the crucial part.

The ounces are troy ounces. There are 20 penny weights (dwt) in a troy ounce.

There are 30 grams in a troy ounce.

Now, 14kt gold’s numeric gold make up is 585 or 58.5% of 100 % pure gold. If gold is 00 an ounce than the full value of your 14kt is 00 times 58.5% and after that divided by grams or DWT’s. Please pardon me if this is confusing. but it really is in reality kind of confusing.

So, to put in simple numbers, at 1000 gold, the full value of 14kt is 5 per ounce, .25 per dwt, and 19.5 per gram.

Don’t forget no one will spend 58.5% for your 14kt, unless they are going to resale your gold jewelry. You are more likely to get closer to 50% for 14kt.

On parting, allow me to offer you a quick guide to help you figure how close someone is prepared to work with you. If at 00 gold somebody offers you per dwt for your gold, you know not to take it. You can do significantly better than that. For reference, 18kt= 75%.

If you have questions, find a local and trusted resource, or better yet have a trusted friend or acquaintance refer you to someone.

About the Author

Learn more about this now at Raymond Lee Jewelers, professionals in educating customers on how to Sell Gold or other valuables.

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