It is important to calculate the weight of scrap gold necklaces when determining how much they are worth. When selling scrap gold necklaces, you are only paid for the actual gold content. This differs from necklace to necklace. You must first determine the purity of the gold inside the scrap gold necklaces, then multiply that percentage by the actual weight of the jewellery.
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Things you need
- Scrap Gold Necklaces
- Jewellery Scale
Examine each scrap gold necklace. Most will have a stamp or tag that indicates its purity. This is measured by carats and is usually abbreviated as a number followed by a capital "K." Most jewellery is made in 10K, 14K, 18K, or 22K gold. The stamp or tag indicating purity is usually on or near the necklace clasp.
Separate your scrap gold necklaces by purity. Place all your 10K, 14K, 18K, and 22K scrap gold necklaces in different piles. Remove anything from the necklaces that is not gold, such as stones, beads, and gems.
Weigh each pile of scrap gold necklaces on a jewellery scale. If you don't have access to a jewellery scale, you can use a coin scale or a postage scale at the post office. All of these scales weigh light objects. A bathroom scale is not sensitive enough to weigh jewellery.
Write down the weight of each pile in ounces. If the scale reads only in grams, divide by 28.35 to get the ounces. If it only reads in pennyweight, divide by 18.23 to get ounces.
Calculate the weight of the pure gold within your scrap gold necklaces. Do this by multiplying the weight of each pile by its purity. Multiply the weight of the 10K pile by 0.417. Multiply the weight of the 14K pile by 0.583. Multiply the weight of the 18K pile by 0.750. Multiply the weight of the 22K pile by 0.917.
Add the pure gold totals from each pile together. This is the total amount of pure gold inside your scrap gold necklaces.
Look up the spot price of gold in the financial section of the newspaper or on any financial website. Make sure that you look this up on the day you wish to sell your scrap gold jewellery since the spot price of gold changes every day. Be sure to get the spot price of gold in dollars per ounce.
Multiply the spot price of gold by the total amount of pure gold inside your scrap gold necklaces. This is the approximate value of your gold.
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