Answers.com - How much is one gram of 18K gold worth

Answers.com - How much is one gram of 18K gold worth

Answer:

First of all:

Precious metals such as gold and silver are measured by the troy ounce. Commodities such as sugar, grains, and other typical grocery items are measured by the avoirdupois ounce. One avoirdupois ounce = 437.5 grains, or 28.35 grams. One troy ounce = 480 grains, or 31.10 grams. (Also just to know: one troy ounce = 20 pennyweights also known as Dwts.)

Next:

24k gold = 99.9% of pure gold (= not 24/24th)
Asian/ Australian Jewelry is usually:
23k gold = 96.5% of pure gold (= not 23/24th = 95.8%)
22k gold = 91.6% of pure gold (= not 22/24th = 91.7%)
American/ European Jewelry is usually:
18k gold = 18/24th = 75.0% of pure gold
14k gold = 14/24th = 58.3% of pure gold (stamp sometimes will say 585 instead of 583)
10k gold = 10/24th = 41.7% of pure gold
9k gold = 9/24th = 37.5% of pure gold
There also are more types of gold but not that commonly used.

Then:

step 1: get the price of 1 troy ounce of gold from a reputable site like Goldprice.com or Kitco.com or Usagold.com or Monex.com. It changes ever day, every minute, or even less than that sometimes. Note that there sometimes is a slight difference for the value among the sites. Just pick the approximate lowest among them then you can't go wrong.

step 2: multiply it by 75% for 18k gold

step 3: divide it by 31.1 for 1 g of 18k gold

step 4: add a premium for fabrication

step 5: add a markup for the dealer

For example, the current price of 1 troy ounce of pure gold as of today March 12, 2008 according to usagold.com is around US$973.60.

That makes 1 troy ounce of 18k gold $778.88.

1 g of 18k gold would be $25.04, thus making it the base value.

Minimum actual price value of would be $27.04, with say only $1.00 for fabrication and also only $1.00 for the dealer.

That would be the approximate Retail Value.

Scrap Value you can easily calculate using the following site : http://www.jackhunt.com/gold-calc.html

I hope that helps answer your question.

~Gwyneth

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