Question by lastcowgirl2: What is the conversion of grams to stones when weighing gold?
I have 24.5 pennyweight of 24 karat gold I want to sell but I don’t understand the conversion.
This is 24 karat,it is stamped and has been tested,the braclet is stamped with Israil,I suppose that is a manufactuer.So what do you think I should get for this as scrap?24.5 pennyweight
Answer by YA is a sham
Gold is always trade in “troy” ounces (ozt) which is 31.1 grams
1 stone is 6350 grams (unless it’s wool or potatoes)
1 dwt (pennyweight) is .05 ozt or 1.555 grams
Today, gold closed at 949.6 US dollars. This is called the “spot price” and is a world-wide valuation. You can trck the gold charts at www.kitco.com
You have 1.225 ozt of gold.
or 38.1 grams
or .006 stones
Purity then becomes the next issue.
To get the full spot price, the gold must be 24 karat or approximately 99% pure. If not, divide the purity by 24 and apply the result to your final weight for the gold’s weight.
14 karat= 14/24 (7/12) or .583
times the weight in Troy ounces (1.225) = .714 ozt @ 24 karat
times today’s spot = 677.47 USD in this example
Most gold buyers will only give you a percentage of the value based on the above formula. Refining buyers usually give 30%-50%
You may do better to sell individual pieces as jewelry or gold scrap on a site like ebay than to sell to a refining company.
Jewelry is almost never made of solid 24 karat gold, the metal is too soft. Often plated metal is stamped 24 k with some letters after it indicating the plating type. (GP, GF, RGP, etc..) Gold plated jewelry will test at whatever purity the plating is. No matter what plating type is used, the value will be very low compared to solid gold of any purity.
The best advice I can give is to take it to a jeweler or a refiner to get an appraisal. (and remember what I said about refiners, they only pay a small percentage of true gold value)The only way to test the entire object for purity is to have it weighed for density. It is first weighed dry then put in water and the displacement is carefully checked. Gold is heavier than any other base metal which will displace much more water per gram than gold. The purer the gold, the less water will be displaced.
I wish I could be of more help but without the piece in hand, I cannot make a proper determiation of value.
Know better? Leave your own answer in the comments!