Price of Gold Per Gram

If you plan on selling some old jewelry that you have laying around, you’ll want to determine the price of gold per gram before doing so. This way you’ll have a good idea of what kind of offer you should receive for your gold. This is a very important step as there are many people who are selling their gold well below what it is actually worth.

If you’re reading this page, I’m sure you’re aware of the commercials on television and radio offering “top dollar” for your gold. Or, you’ve seen the signs at your local pawn shop offering the same “top dollar for your gold” pitches. There have even been businesses created simply to take advantage of gold’s record price. While these offers can sound enticing, often times people are led astray simply because they don’t stop and do a little research before hand. If you don’t do a little due diligence, you are essentially gambling that you’ll be able to get top dollar for your gold.

Besides determining the price of gold per gram, there are a couple other things you should consider before selling your gold. First off, remember that when you sell your gold jewelry to a pawn shop or dealer you will only receive value for the gold in the jewelry. If you have jewelry that contains something else other than gold, you will not receive it’s value. So, you’ll want to sell pure gold if possible. Next, you should consider what the value of your gold would be on the street once it is melted down. Ok, so let’s look at how you can figure out what your gold is worth in grams.

Gold is quoted in ounces. Whenever you hear gold being mentioned on television or the radio, it is being referenced in terms of ounces. So, lets figure out how to determine the price of gold per gram.

The Standard Rule of Thumb: 1 ounce of gold is equal to 31.10 grams of gold. For our example, lets say the price of gold is $1,400 per ounce. We would determine the price of gold per grams as follows:

$1400/ 31.10 (In Troy Ounces) = $45/gram (This is for 24 karat gold) So, what if your gold is less than 24 karat? Here is a chart to help you.

Multiply as follows to calculate the value of scrap gold sorted by various karats:

For 10 karat (10K) gold, multiply the day’s price of gold per gram by .4167.

For 14 karat (14K) gold, multiply the gold price per gram by .5833.

For18 karat (18K) gold, multiply the current price of gold per gram by .75

24 karat (24K) gold, simply use the price of gold per gram.

You would just multiply the number you receive from the previous step times the number of grams of the gold quality you’re pricing. That is the current price of gold scrap on the market. Just be aware that when you sell gold scrap to dealers, you could receive much less than the market value. So, it is very important to go in prepared and know what your bottom line is.

This chart shows the price of gold per gram and by karat.