If you have a 14k gold ring and want to know how much is a 14k gold ring worth, we've got you covered! Today gold is worth more than ever. Everywhere you look there are businesses willing to buy your old gold jewelry. How do you actually know you are getting the amount your gold is worth? Some places claim they offer the highest amount paid for gold. Remember, what you are offered in exchange for the 14k gold ring isn't necessarily what your gold ring is worth. In order to know just how much your gold ring is worth, you have to figure it out on your own. Lucky for you, we are here to help guide you!
In order to determine how much your 14k gold ring is worth, you will need:
- A scale
- Determine the current price of gold. The most current selling rate for gold in today's market is $952.70 per oz. Sure would be nice to have a few ounces, huh? Given that, we can determine that 1 gram is worth $30.65. 14k is not pure gold. Each gram of 14k is about 0.585 gold. Grab your calculator and multiply $30.65 by 0.585. This will give you the amount each gram of 14k gold is worth. The dollar amount per gram is $17.93.
- Weigh your ring. Now that you know the amount of each gram, it is time to find out how many grams you have got on that finger! You can either use an electronic digital scale, pocket scale, or gram scale. If you don't have the right type of scale, you could go to a local jeweler or pawnshop to get the weight of the ring. If the stores are unwilling to help, don't worry. You can bring the ring to the post office. They are equipped with digital scales that measure every gram.
After obtaining the weight, do the math. Multiply the number of grams by the amount each gram is worth, $17.93. If your 14k ring is 5 grams, it is worth $89.65.