Sell Gold: Scales and Karats
Selling gold requires you to understand the measurements and scales in determining the weight of the gold. Don’t worry; you just need to do some simple math in order to get the most accurate weight. In addition, you must learn how to determine the karat before you sell gold to a gold buyer or jeweler.
Gold Scales: In measuring the weight of your gold, you must always remember that the measurements of jewelers are different from the typical scales. In particular, they use the troy ounce rather than the regular ounce in identifying the gold’s weight. This means that if you are to sell an ounce of gold, this would be equivalent to31.1 grams per troy ounce, not 28 grams per regular ounce.
Another scale that the jewellers use is the pennyweight. One pennyweight is equal to 1.555 grams.
However, the pennyweight is seldom used nowadays. So if the gold buyer wants to pay you in terms of pennyweight, tell him to pay you by grams. Why? This is because paying in pennyweight is more vulnerable to sneaky tactics of gold buyers who would pay less than the real value of your gold.
Gold Karats: According to the Federal Trade Commission or FTC, all jewelleries sold within the US must have karat fineness in relation to the gold alloy. Alloy means that the gold items you have is actually not 100% gold, since pure gold is too soft to be utilized. The gold is typically mixed with other metals to come up with both color and durability.
As we all know, the 24 karat gold has a very high value, because it contains 24 out 24 of pure gold by weight. This means that every karat of gold is equal to 1/24 of pure gold in terms of weight. This also goes to say that a 14 karat gold means that 14/24 of it is gold, while 10/24 of it is other metals. Gold items that have less than 10 karats should not be labelled as gold jewellery according to the gold selling standards.



