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Scrap Gold Value Calculator

skyvike

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#1
http://goldcalc.com/

Kinda interesting but I think it's unrealistic to expect to get spot for gold that has to be melted/refined....

:s9:
 
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#4
Someone in the know posted some info a while back (maybe on GIM1) about the difference between 14K and 14KP markings on jewelry, and the calculation figure used by the pros when dealing with 14K scrap. It is lower than 0.5833 (14/24ths).

As I recall, 14K can be a rounded figure and may have underweight solder used in manufacture. 14KP is certified as an actual 14 parts gold in 24 for the entire weight of the piece (the P=plumb). Therefore, using 14/24th's for calculation should only apply to 14KP and there is a lower figure used for 14K that takes allowable variances into consideration.

Anyone know that calculation number used for typical 14K scrap?

BTW, I'd also be interested in hearing from anyone knowledgeable about the jewelry trade. With gold being denser than the metals it's typically alloyed with it, I'm under the impression that K markings refer to content by weight. If so, what's the typical mix measured by volume? My guess would be 50/50 in 14K. Just a guess, but I'm thinking that might be the reason that such an odd figure as 14/24ths is so traditional and so prevalent.
 

Montecristo

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#5
http://goldcalc.com/

Kinda interesting but I think it's unrealistic to expect to get spot for gold that has to be melted/refined....

:s9:
Not to mention under karated goods, melting loss, shipping and insurance fees, stone weight, accumulated dirt in chains, mis marked goods etc.......

There's a myraid of factors this calculator doesn't take into account.

For fun, I agree it's cool. If you want an accurate value for your scrap, this isn't going to do it.
 

Montecristo

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#6
Someone in the know posted some info a while back (maybe on GIM1) about the difference between 14K and 14KP markings on jewelry, and the calculation figure used by the pros when dealing with 14K scrap. It is lower than 0.5833 (14/24ths).

As I recall, 14K can be a rounded figure and may have underweight solder used in manufacture. 14KP is certified as an actual 14 parts gold in 24 for the entire weight of the piece (the P=plumb). Therefore, using 14/24th's for calculation should only apply to 14KP and there is a lower figure used for 14K that takes allowable variances into consideration.

Anyone know that calculation number used for typical 14K scrap?

BTW, I'd also be interested in hearing from anyone knowledgeable about the jewelry trade. With gold being denser than the metals it's typically alloyed with it, I'm under the impression that K markings refer to content by weight. If so, what's the typical mix measured by volume? My guess would be 50/50 in 14K. Just a guess, but I'm thinking that might be the reason that such an odd figure as 14/24ths is so traditional and so prevalent.
I'm not following your question?

.583 simply refers to the percentage of gold in the particular item.

A 10 gram ring, like a solid wedding band that has never been sized or has never been repaired, should contain 5.83 grams of gold. The rest of the metals are determined by what color you want the final produt to be or if there will be stones set into it.
 

odu

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#7
True for older gold. Under current law,I think, gold hallmarked 14K either has 14K solder in it or is illegal. Not that that won't happen, of course. Anyone know for sure?
 

odu

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#8
Not to mention under karated goods, melting loss, shipping and insurance fees, stone weight, accumulated dirt in chains, mis marked goods etc.......

Do you actually calculate all that each and every time you buy or sell scrap? Just a question, I don't mind the extra programming.
 

Montecristo

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#9
Not to mention under karated goods, melting loss, shipping and insurance fees, stone weight, accumulated dirt in chains, mis marked goods etc.......

Do you actually calculate all that each and every time you buy or sell scrap? Just a question, I don't mind the extra programming.
It would be impossible to calculate for each piece. The buyer has to take those factors into account when he maskes his offer, though. That is why you will never get paid spot. He has to cover himself for all the unforseen possibilities that occor and still figure in a profit.
 

odu

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#10
It would be impossible to calculate for each piece. The buyer has to take those factors into account when he maskes his offer, though. That is why you will never get paid spot. He has to cover himself for all the unforseen possibilities that occor and still figure in a profit.
Would the "percentage of value" do for that purpose in the calculation at http://www.den-uijl.nl/gold/gold.php? I mean, I take it you pay/get payed a percentage of spot. Otherwise I wouldn't know how to put these factors into the calculator,
 

Montecristo

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#11
Would the "percentage of value" do for that purpose in the calculation at http://www.den-uijl.nl/gold/gold.php? I mean, I take it you pay/get payed a percentage of spot. Otherwise I wouldn't know how to put these factors into the calculator,
Yes, that is where the adjustment would be made. In the precentage paid. The percentage paid has to take into account a number of factors that effect the return on the gold when the gold buyer/jeweler ultimately sells the gold and then a profit has to be added in on top of that.
 
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#12
I'm not following your question?

.583 simply refers to the percentage of gold in the particular item.

A 10 gram ring, like a solid wedding band that has never been sized or has never been repaired, should contain 5.83 grams of gold. The rest of the metals are determined by what color you want the final produt to be or if there will be stones set into it.
I understand that .583 is the decimal for 14/24ths (rounded). However, it was revealed on GIM a while back that professional gold buyers do not use that figure for calculating AGW for 14K, only for 14KP. That poster listed the figure used for 14K by those in the business, a lower figure that accounted for possible underweight of gold in most 14K jewelry.

As far as the second part of my question goes, that was just curiosity. Looking for what may be the historical reason 14K is common and wondering if it originally had something to do with the volume of the different metals to be alloyed rather than the weight. For example, say you're going to alloy gold with copper. The two metals have distinctly different densities. Therefore, while the weights for 14K would come out to 14/24ths and 10/24ths, respectively, the physical volume of each would not have the same ratio. Perhaps then, taking two equally sized blocks of gold and copper produces a weight ratio of 14 parts gold for 10 parts copper. Though I'm not sure if that is the case, my reasoning for suspecting it might be is that once upon a time it may have been easier to measure by physical volume, particularly if accurate scales were not available.