Selling Gold

Looking to sell gold? Selling gold is easier than ever because of the abundance of gold buyers. However, many of these gold buyers who advertise to purchase your gold don't usually pay you top dollar.

Many of these gold buyers have to pay for their advertising one way or another, which is why you're probably not getting the most for your gold. Here's some useful information you should know before you sell your gold. There are three main ways gold buyers will calculate the weight of your gold: DWTs, ounces, and grams.

1. Pennyweight (abbreviated dwt) is a unit mass equivalent to 1/20 troy ounce or approximately 1.555 grams. Many buyers will weigh your gold in pennyweights.
2. A second method is troy ounces. There are 20 penny weights (dwt) in a troy ounce.
3. Finally, the third method of measurement is the use of grams. There are 30 grams in a troy ounce.

Now, let's get more specific. Take 14kt gold for example: 14kt gold's numeric gold make-up is 585 or 58.5% of pure gold. If gold is $1000/ounce, then the full value of your 14kt is (1000 x 58.5%) / grams or dwt's. So at $1000 gold, the full value of 14kt is $585 per ounce, $29.25 per dwt, and 19.5 per gram.
Keep in mind no one will pay 58.5% for your 14kt, unless they are going to resell your gold jewelry. You are more likely to get closer to 50% for 14kt. This is really just a guide so you can figure how close someone is willing to work with you. If at $1000 gold someone offers you $10 per dwt for your gold, you know not to take it. For reference, 10kt gold = 41.7% / 14kt = 58.5% / 18kt= 75%. If you have any questions or concerns, please feel free to message us.