Gold is measured in troy ounces. So when you see the price of gold is $1000 - this is for one troy ounce.
One troy ounce has 31.1.034768 grams in it. Many people round it up to 31.1. grams for simplicity sake
OR...
it is way easier to just go to In Gold We Trust which is a Coin, Bullion and Scrap Gold Calculator and it will work it out for you with the current price of gold
In Gold We Trust is an online coin bullion and scrap gold calculator that offers up to the minute valuations on all your gold coins, junk silver coins , scrap gold and so on
Monday, February 1, 2010
Sunday, January 31, 2010
Investing in Silver / Which Silver to Buy
A short video going into detail about investing in silver
In Gold We Trust Scrap Gold Calculator is an online tool that gives up to the minute prices on all gold silver and platinum coins, bullion and scrap
In Gold We Trust Scrap Gold Calculator is an online tool that gives up to the minute prices on all gold silver and platinum coins, bullion and scrap
What is Gold Price Per Pennyweight
Another common question that comes up is how much is a pennyweight (DWT) worth. Pennyweight is a fraction of an ounce. There are 20 pennyweights to one ounce. So take the reported price of gold and divide it by 20 to get the current gold price per pennyweight.
In Gold We Trust Coin Bullion and Scrap Gold Calculator is an online tool to give you up to the minute values of all gold coins, junk silver coins, silver bullion, platinum coins and jewelry.
In Gold We Trust Coin Bullion and Scrap Gold Calculator is an online tool to give you up to the minute values of all gold coins, junk silver coins, silver bullion, platinum coins and jewelry.
Thursday, January 21, 2010
The Times Reports Cash For Gold Companies as a Bad Deal
In the Times Today they reported that the Office of Fair Trading is launching an investigation into mail in cash for gold companies - saying that they are offering extremely low prices for jewelry sent in. One example was just over 10 pounds being paid for a bracelet that originally cost over 200 pounds.
Mailing in gold or selling your scrap gold to these companies is probably not the best way to sell your jewelry and certainly not the only one. You have to think that all the cash for gold company is going to do is ship sent in gold off to the refiner. The most the gold is ever going to be worth is the spot price of gold. The refiner takes their cut (between 5-10% typically) and you cash for gold company has to cover their costs ( getting Anne Diamond to appear on an advert amongst others) and make some profit meaning that what you get at the end is going to be a lot shy of the gold vlaue of your jewelry.
I am not sure that the Cash for Gold Companies are a rip off but that people have an over inflated idea of what their jewelry is worth based on what they paid for it. When you bought your ring etc your bought it for its utility and emotional value. A thick 14 karat wedding band may have set you back originally 600 pounds or $1000 but this ring that lets say weighs 6 grams only has about 80 pounds ($120) worth of gold in it and your cash for gold company will only pay you a fraction of this.
Other and perhaps better ways to liquidate your jewelry would be Ebay where you can easily get over the gold spot price or simply take your jewelry to a local second hand jewelers or coin shop who are likely also to ship it off to the refiners but have not had to pay Anne Diamond to convince you to part with your rings and necklaces therefore offering you a better price.
Before you do anything always make sure that you know how much your jewelry is worth - i.e the scrap gold value. www.in-gold-we-trust.info has a scrap gold calculator allowing to easily calculate the value of any gold jewelry. Check out this You tube video explaining how to use it
http://www.youtube.com/watch?v=v93clZ3s97Y
Mailing in gold or selling your scrap gold to these companies is probably not the best way to sell your jewelry and certainly not the only one. You have to think that all the cash for gold company is going to do is ship sent in gold off to the refiner. The most the gold is ever going to be worth is the spot price of gold. The refiner takes their cut (between 5-10% typically) and you cash for gold company has to cover their costs ( getting Anne Diamond to appear on an advert amongst others) and make some profit meaning that what you get at the end is going to be a lot shy of the gold vlaue of your jewelry.
I am not sure that the Cash for Gold Companies are a rip off but that people have an over inflated idea of what their jewelry is worth based on what they paid for it. When you bought your ring etc your bought it for its utility and emotional value. A thick 14 karat wedding band may have set you back originally 600 pounds or $1000 but this ring that lets say weighs 6 grams only has about 80 pounds ($120) worth of gold in it and your cash for gold company will only pay you a fraction of this.
Other and perhaps better ways to liquidate your jewelry would be Ebay where you can easily get over the gold spot price or simply take your jewelry to a local second hand jewelers or coin shop who are likely also to ship it off to the refiners but have not had to pay Anne Diamond to convince you to part with your rings and necklaces therefore offering you a better price.
Before you do anything always make sure that you know how much your jewelry is worth - i.e the scrap gold value. www.in-gold-we-trust.info has a scrap gold calculator allowing to easily calculate the value of any gold jewelry. Check out this You tube video explaining how to use it
http://www.youtube.com/watch?v=v93clZ3s97Y
Tuesday, January 19, 2010
Saturday, January 9, 2010
How to Calculate The Gold Price Per Gram
I recently saw many questions online about how to calculate the gold price per gram. Gold is commonly priced in troy ounces but the many people outside the USA use the metric system so need the price in grams especially when trying to calculate scrap gold prices.
1 troy ounce of gold contains 31.104768 grams
So you just need to take the current market price of gold and divide it by 31.105768 and then you have your price per gram
Alternatively you can go to www.in-gold-we-trust.info and use the coin, bullion & gold calculator and follow these instructions
Select Gold
Select Gold Bullion
Select Grams
Enter quantity
This will give you the current price of gold per gram quickly and easily.
1 troy ounce of gold contains 31.104768 grams
So you just need to take the current market price of gold and divide it by 31.105768 and then you have your price per gram
Alternatively you can go to www.in-gold-we-trust.info and use the coin, bullion & gold calculator and follow these instructions
Select Gold
Select Gold Bullion
Select Grams
Enter quantity
This will give you the current price of gold per gram quickly and easily.
Thursday, January 7, 2010
What is Scrap Gold/ How to Buy Scrap Gold
In Gold We Trust - Coin, Bullion & Scrap Gold Calculator
Information on Scrap Gold, How to buy Gold Scrap and How to Calculate the Value of Scrap Gold
Information on Scrap Gold, How to buy Gold Scrap and How to Calculate the Value of Scrap Gold
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