How to tell how much is gold recovered
Determine the value of the recovered gold is a simple quantitative process. The object value of gold depends on your weight, the purity of gold and the current price at the time of sale. It is simple to find these figures and are easy to calculate. Gold recovered can then be sold to a refiner who will charge a percentage for processing.
Gold weighs recovered. Do it on a balance sensitive made specifically for jewelry or coins. Record the weight in troy ounces, a standard unit of measure for gold. The troy ounce is slightly heavier than ordinary ounces used for weighing mail and food . One troy ounce equals 1.097 ounces common.
Determine the purity of gold. All the recovered gold is combined with other metals to make an alloy. Gold purity is the amount contained in the object in comparison to the other metals. It is measured in carats and is designated by a number followed by the letter K (for “karats” carats in English). In gold jewelery, the purity, usually recorded near the clasp or the back. Most gold jewelry is 10K, 14K or 18K. The coins are made of 22K gold and many other objects, with 10K gold.
Gold purity Converts a decimal number. The number corresponding to the 22K gold is 0.917, the 18K gold, the 0,750, the 14K gold, the 0.583 and 10K gold, the 0,417. These are the most common impurities for gold recovered. The decimal for 24K gold is 0.999, but only in bullion, gold never recovered.
Calculate the amount of pure gold that contains your object. Multiply the amount of the purity of the gold weight in troy ounces decimal. The result will be the amount of gold in your object.
Determine how much your gold is worth by multiplying the amount recovered by the current gold price, ie, the daily price in financial markets worldwide. As the price changes daily, this calculation is only valid for the day you sell gold. You can find the current price at the web site listed in the References section below.