To determine how much your gold is worth, simply use the Kambourian Jewelers online gold calculator below. Enter in the weight of your gold or silver item, grade or purity of the item, and current market price in troy ounces of pure gold or silver.
The price determined is dependent on the fluctuating price of gold as well as a refining fee for the calculator process. It is also the dollar amount that a jeweler would expect to get for the gold, so assuming you would be paid a percentage of the dollar amount given is smart. Kambourian Jewelers pays 70 to 90% of the market value to customers, while competitors pay 30 to 50% of the market value.
To use this calculator you will need:
- Weight of your gold or silver item.
- Grade or purity of your item.
- Current market price in troy ounces of pure gold or silver.
Here is an example of how the calculator works on a gold conversion.
If you have 34.6 grams of 14 karat gold it first converts the grams into troy ounces.
34.6 grams x 0.0321507466 = 1.1124142 troy ounces
Then it multiplies the troy ounces by the purity. For 14 karat gold it multiplies by 0.5824
1.1124142 x 0.5824 = 0.64787
Next it takes this number and multiples by the market price of gold. This price changes daily, for this example we will use $1,016 per troy ounce.
0.64787 x 1016 = 658.24
A 6% refining fee is then applied. So, $618.74 is the dollar amount of the market value of your gold.