- Joined
- Apr 3, 2004
- Messages
- 33,852
be sure you are getting a fair price. the people that are advertising on TV and local newspappers are a big rip off big time.
say you have a 18 kt gold chain that weights 1 troy .oz (31.1 grams) 18 kt = 750 fine or 75% pure gold,now lets say spot price of gold is $1100 per oz,there for you take $1100 X .750 = $825 in melt or gold content. i would then take $825 x 85% = ($701.25) that would be my offer for your chain. don''t forget this was when spot gold was trading around $325-$350 per oz. today i may only pay like 78% of melt.
say you have a 18 kt gold chain that weights 1 troy .oz (31.1 grams) 18 kt = 750 fine or 75% pure gold,now lets say spot price of gold is $1100 per oz,there for you take $1100 X .750 = $825 in melt or gold content. i would then take $825 x 85% = ($701.25) that would be my offer for your chain. don''t forget this was when spot gold was trading around $325-$350 per oz. today i may only pay like 78% of melt.
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