Q:

# How do you calculate cash for gold prices?

A:

To determine the cash value of gold, input the weight of the gold into a gold-value calculator and select the gold purity, explains GoldCalc.com. The current price for gold appears on this website included in the computation of value provided by the website calculator.

## Keep Learning

Those attempting to value gold use a gram scale, such as a digital gram scale available at most retail stores, eBay or Amazon, or a kitchen scale that measures in grams. Kits used to test and determine the karat value determine gold's purity. Individuals can find these kits on eBay or Amazon, as well. However, these kits prove difficult to find in retail stores, as advised by GoldCalc.com.

Jewelers use a different measurement to determine gold weight: a Troy ounce, which is equivalent to 31.1 grams. When selling gold to a jeweler or another gold buyer, it is important to know the karat purity of the gold, its current market value, and to fully understand the buyer's terms and conditions of the sale before completing the transaction, according to ABC News. Use businesses registered with the Better Business Bureau to help ensure a legitimate transaction. Also, federal law requires the seller to have government issued identification to prevent money laundering and the sale of stolen goods.

Sources:

## Related Questions

• A: The stamp "417 Italy" on a piece of gold jewelry means that its purity is 10 karat gold and its origin is Italian. The "417" also indicates that it is 41.7... Full Answer >
Filed Under:
• A: When choosing the best gold stocks, investors need to know the stock's production growth, cash costs, sensitivity to gold prices and price-to-net-asset val... Full Answer >
Filed Under:
• A: Many jewelry stores, pawn shops, gold-buying kiosks and online dealers offer gold for cash, explains ABC News. Gold parties are also popular ways for parti... Full Answer >
Filed Under:
• A: There are tables and charts of current gold prices at GoldPrice.org. Gold Price updates every ten seconds and provides price figures by the kilogram and by... Full Answer >
Filed Under:
PEOPLE SEARCH FOR