How Do I Calculate My Gold’s Worth Before Selling it Online?

It can be a quick and easy way to collect cash, to sell your gold over the internet, but you should consider knowing its value before you do so. Knowing its value helps you receive a good price for it and not to sell a valuable commodity short of its value. Here’s a step by step guide to help you its value before you sell it over the internet.

1. Establish the karat purity

The purity of gold largely depends on how pure it is. The purest quality of gold is 24 karat, and most coins and jewelry are mixed with other metals to produce other karat-rated gold, such as 10K, 14K, 18K, or 22K, etc.

 Higher karat indicates higher gold content and hence higher value.

 If it doesn’t bear a stamp, a jeweller or bullion dealer can assay its purity.

2. Weigh Your Gold Precisely

Once you know the purity, the next step is to weigh your gold. Use a precise scale that measures in grams or troy ounces (the standard for precious metals).

1 troy ounce = 31.1035 grams  Remember that when you sell, you’ll be paid for the base gold weight only (not gemstones, clasps, etc.) to calculate its value.

3. Verify Today’s Gold Rate

Prices of gold fluctuate every day and are transacted on the international market. To arrive at the value of your gold, refer to the current spot price of gold in USD or CAD for every troy ounce. AU Bullion, for example, displays live market rates on its website such that sellers can access the latest rates at all times.

4. Calculate the Melt Value

 You can now calculate the melt value of your gold:

(Weight of gold × Purity percentage × Current gold price) = Estimated Value

 If you own a 10-gram 18K gold ring and the price of gold is $80 per gram:

 Purity: 18K = 75% gold content

Calculation: 10 × 0.75 × $80 = $600 estimated melt value

 This provides you with a starting point of how much your gold is worth melted down.

5. Consider Brand and Collectible Value

Certain pieces of gold jewelry and watches – like items by Tiffany & Co., Van Cleef & Arpels, Rolex, or Cartier – bear extra value over their melt cost. Rarity, reputation of the brand, and workmanship can greatly inflate how much a buyer would be willing to pay.

6. Compare Shoppers

All buyers on the internet do not give equal payout. Some charge extra fees or give below market value. To shield yourself:

• Get multiple quotes.
•  Browse reviews of internet dealers.
• Work only with trusted, reputable companies like AU Bullion, who provide transparent pricing and pay top dollar for gold.

7. Selling Costs Include

With internet sales, shipping, insurance premiums, and service fees can all subtract from your end payment. Ensure that the customer pays for these, or at least takes them into consideration.

 Why AU Bullion?

At AU Bullion, we make the process of selling your gold online simple, secure, and rewarding. We:

•  Give the best market rates for your gold.
•  Provide a concise and quick process.
•  Accept anything from bullion coins and bars to luxury brand jewelry and watches.

Sell Your Gold Online

After becoming informed, prepare to sell your gold online. Being knowledgeable about your gold’s karat weight, market value, and potential brand premium places you in a great position to receive top dollar. With AU Bullion’s expertise and competitive advantage, you can sell with confidence to get top dollar for your precious metals.