How to Calculate the Value of Impurity Gold

If you have impurity gold you can sell. Gold prices tend to rise when the economy is stagnant or there are concerns about war or inflation. ^{[1] X Research Resources} However, before you bring jewelry, dental fillings, gold dentures, gold ore or bullion bars to a gold store (or by mail), you should know for sure. the value of the gold to be paid at a fair price. Most gold traders keep their gold value a secret, but you can find all the information you need to calculate the value of impurity gold yourself.

Table of Contents

Gold classification by karat

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Use a magnifying glass to read the karat number on each piece of gold. The first thing you need to do is determine if your gold is real gold. Grading gold by karat not only helps you assess gold’s value, but also identifies things that are not real gold.

If you can’t see the karat number, you can hire a reputable gold dealer to check. It’s likely that part of your gold is just gilded product, and they will be ascertained by the gold dealer by a chemical test.
Note that the majority of gold jewelry made before 1980 is of a quality slightly below the marked karat value. For example, jewelry marked 18K is really only 17-17.5K quality. In 1980, the law on marking and purity of gold jewelry was revised.

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Do an acid test on anything you suspect. If you are not sure if something is golden after looking at it with a magnifying glass, have it tested. You will have two options: the acid test and the Skey test. The acid test requires you to have a gold test kit or individual parts to make a set (acid and stone).

These test kits can be purchased online or from a jewelry store at a low price, and are sold individually or as a set. One set will include bottles of 10K, 14K, 18K and 22K gold test acids, usually nitric acid. There is a test stone made from a variety of materials, including novaculite and other igneous rocks. This kit can also be sold with a scale.
With jewelry that is said to be 14K gold, you rub it on the stone and put a drop of 14K acid on the stain it leaves. If the object is indeed 14K gold, the mark on the stone will not change when exposed to acid. If it is 10K gold, the stain will turn brown when exposed to 14K acid. If the stain disappears completely, it is not gold.
If the gold isn’t marked, you’ll try from the lowest acid up to 22K until the stain turns brown, and then you can assume it’s in the adjacent lower karat quality. For example, if 18K acid makes no change but 22K acid turns brown, then the gold will be considered 18K quality. If the 14K acid produces no change but the 18K acid turns brown, the gold will be considered 14K quality, and likewise for the other karat tests.

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Use the Skey test. For the Skey test, you will first need to purchase a gold tester for this method. Gold testers sell for about 1 million VND and can perform 1000 tests. This test is a safe alternative to the acid test, and will give accurate determinations on metals such as platinum. ^{[2] X Research Source}

On jewelry that is suspected to be gold, draw a slow line about 5mm long and repeat the same line 4 times without lifting the tip of the pen from the metal surface.
Immediately after that, draw a line on any blank sheet of paper.
- If the gold is below 10k then the line is light brown and turns green in a few seconds.
- If it is 10k gold then the line is light brown.
- If it is 14k gold then the line is dark brown.
- If it is 18k gold then the line is orange.
- If it is 22k gold then the line is yellow.
- If it is 24k gold then the line is red.
- If the pen leaves no lines, it’s not gold.

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Separate the gold coin from the rest of the gold. If you have gold coins, they can carry a greater collectible value than the metal from which they are made. This value depends on the age, rarity and general condition of the coin. In this case, it’s best to take it to a coin dealer for a valuation. You should really do this because it can bring you more money. ^{[3] X Research Sources}

If you have experience with online auctions, you can sell coins online but you will need a certificate of real coins to convince buyers to bid high. In addition, you should also use a payment guarantee system to help customers feel secure with their transactions. The benefit of auctioning (provided you know the true value of the coins) is that the sale price can far exceed your asking price if there are many collectors participating in the auction.
Read How to Determine the Value of a Gold Coin for more information on how coins are valued.

Determine the gram mass of gold

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Buy a scale to weigh impurity gold. Determining the weight of the impurity gold will help you calculate its base value. This is not necessarily the selling price you will be paid but is a number to refer to when you start negotiating.

Buy a jeweler’s scale. This type of scale is sold online for less than 1 million VND. This is the best way to accurately weigh gold, as jewelers’ scales are designed to be more accurate than your usual scales.
Use a food scale if you can’t afford a jeweler’s scale. If you have a food scale available, you can use it to weigh the gold. Most inexpensive food scales can only weigh a minimum of 10g, so you need to evaluate the function of the scale if you plan to buy one to weigh gold.
If you can’t or don’t want to buy a scale, take your gold to a jeweler and have them weigh it.

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Weigh impurity gold. Remember to weigh the gold in groups based on their karat quality. Place the gold on the scale and let the scale stabilize before reading the number. Depending on the scale, there may be a needle that points close to a particular gram value, and you take the measurement from that point. However, the more expensive scales will have a digital display, so you can read the measurement from the screen.

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Convert to grams if the scale only gives weight in ounces. The conversion rate is 28.3495231 grams per ounce, or about 14,175 grams/0.5 ounces. ^{[4] X Research Sources}

Usually you won’t have the full 30 grams of gold per karat value, and if you have enough you’ll have to pool it by karat quality, so if all the math is in the same unit of weight then the It will be easier to do later.

Determining the value of gold

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Determine the current value of gold. Knowing how much your gold is worth is great information when you’re starting the listing process. There is a formula to calculate the exact value of impurity gold in grams, and the only variable in this equation is the current market price of gold. You can find current market prices on the internet or look it up in your local newspaper. Gold is priced in troy ounces, with each troy ounce equaling 31.1 grams. The price of gold fluctuates hourly according to supply and demand, so the afternoon gold price can be very different from the gold price you see the morning before. ^{[5] X Research Sources}

It is best to update information from the internet, this can be done while you are standing at the gold buyer’s stall by accessing the internet on your mobile phone.

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Divide today’s gold price in copper/ounce by 31.1 to get today’s gold price in grams. For example, if the price of gold per ounce today is 36.32 million dong, the price of gold per gram today is 1.17 million dong (36.32 million dong/31.1).

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Multiply by the quality of the gold. For each group of gold, you divide the number of karat by 24 and then multiply the result by the price of gold in grams today. For example, if you have 10K gold and the current price of gold is 36.32 million VND/ounce, or 1.17 million VND/gram (36.32/31.1), then the impurity gold price is 1.17 million VND x 0.4167 = 487 thousand VND/gram. ^{[6] X Research Source} Use the following conversions to value your gold.

10k = 10/24 = 0.4167
14k = 14/24 = 0.5833
18k = 18/24 = 0.750
22k = 22/24 = 0.9167

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Perform analysis to ensure the value of gold. Gold still has to be analyzed to determine the actual percentage of gold. For example, analyzed 14k gold will give 0.575% result. When smelting, the weight of gold will decrease due to the alloy used in the making process.

When analyzing, a gold sample from your gold is used to process and evaluate the purity. That gold sample will be melted, separated and weighed to make a conclusion about purity. ^{[7] X Research Sources}

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Multiply the price of gold in grams by the weight in grams. If you have 10 grams of 10K gold and the price of gold is calculated at 487 thousand VND/gram, then the value of your gold is 10 x 487 thousand VND = 4.87 million VND. Some examples:

If you have 5 grams of 14K impurity gold and the gold price today is VND 36.32 million, then you divide VND 36.32 million by 31.1 to get VND 1.17 million. Multiply that number by 0.5833 (14K) and get 682 thousand VND/gram. 682 thousand dong multiplied by 5 grams is 3.41 million dong.
If you have 15.3 grams of impurity gold, divide 36.32 million VND by 31.1 to get 1.17 million VND, and multiply that number by 0.4167 (10K) to get 487 thousand VND/gram. 487,000 VND multiplied by 15.3 grams is 7.45 million VND.
Most people use grams for these operations, but some gold buyers use pennies instead of grams. Each troy ounce is equivalent to 20 pennies. You can substitute 20 for 31.1 to calculate the pennies in the above formula. You can also multiply the weight in pounds by 1.555 to get the weight in grams, or divide the weight in grams by 1.555 to get the weight in pounds. ^{[8] X Research Sources}

Advice

Never sell diamonds or gems to a gold buyer. Ask them to remove them from the jewelry and return it to you; Never take your eyes off these jewels. Do not send diamonds or gems to goldsmiths. You won’t get any money selling them, and they almost certainly won’t return these. A reputable jeweler will remove the diamonds or gems and value them before selling the rest of the gold.
For a list of reputable gold traders in the United States, you can visit the website of the United States Mint ^{[9] X Recommended Coin and Gold Traders Research Resource} .
Traders of impurity gold (which can be found at pawn shops or stores with a sign that says “we buy gold”) will likely buy gold for 30 to 60 percent less than its actual value, because They have to process the purchased gold (re-analyze) and resell it for a profit. With the current high profit margin, you should not sell gold to these people. However, you can find places that accept to bid with a high percentage of the real value and still make a profit. If you are going to sell to a gold shop, don’t just go to one place, go to many places and ask for the price to get the highest selling price. ^{[10] X Research Source}
Goldsmiths usually pay 90-98%, and most reputable ones have websites that clearly state the actual percentage they will pay. However, many places set a minimum weight, usually around 85-140 grams. With a small amount of gold, you can sell on reputable auction sites for approximately 90%, or sometimes more if you have good workable jewelry. ^{[11] X Research Source}
Old dental gold may be 24K gold, but new dental gold is usually 16K. The karat value of dental gold varies widely, the usual range being 8K to 18K. Dental white metal looks like platinum, but you should be careful not to confuse it with Carbo-Chlor, which can pass the acid test for gold and platinum. However, you can send them to a gold refinery to be analyzed as gold and platinum. ^{[12] X Research Source}

Warning

Pay attention to government tax regulations regarding the sale of gold. Ask your accountant if you are not sure about this.

Steps

Gold classification by karat

Determine the gram mass of gold

Determining the value of gold

Advice

Warning

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