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24 karat is pure gold, 12 karat is half gold. I would doubt that your ring contains more than 1/3 ounce of solid gold....thats just my unofficial guess. As for jewelry...I know almost nothing other than 22 karat would be roughly 90% gold.
Gold is very soft and almost has to be made into an allow for jewelry purposes. Even the American Eagle gold coin is an alloy of 90% gold. Though it contains a full ounce of gold.
The spot price of gold as of this writing (Feb. 22nd) is hovering in the $1400 area. Jewelry would not bring spot price, even if it were pure gold (24K) and only Indian jewelry is likely to be 24K. It's difficult to find here in the US unless you know an Indian community.
You can figure the weight of your jewelry in ounces, factor in the karatage (usually all jewelry is marked), and subtract a good 25% as "scrap" or melt value, to arrive at an approximate price for the items. That being said, you may be quite surprised at how much it will bring!
The spot price of gold as of this writing (Feb. 22nd) is hovering in the $1400 area. Jewelry would not bring spot price, even if it were pure gold (24K) and only Indian jewelry is likely to be 24K. It's difficult to find here in the US unless you know an Indian community.
You can figure the weight of your jewelry in ounces, factor in the karatage (usually all jewelry is marked), and subtract a good 25% as "scrap" or melt value, to arrive at an approximate price for the items. That being said, you may be quite surprised at how much it will bring!
Most of my and my family is Asian/Indian jewelry. Mostly 22K. I know plenty of Indian community.
How much can a 22K ring be?
Most of my and my family is Asian/Indian jewelry. Mostly 22K. I know plenty of Indian community.
How much can a 22K ring be?
As of today you would get $30.38 a gram for under 20 grams from here Buy Gold Silver located in Utah (http://cascaderefining.com/prices.php - broken link)
As of today you would get $30.38 a gram for under 20 grams from here Buy Gold Silver located in Utah (http://cascaderefining.com/prices.php - broken link)
Last I checked there is no way to weigh (no pun intended) things over an internet forum.
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