Learn more about the gold price per pennyweight
Gold price per pennyweight is changing constantly
Most consumers don´t know that all pieces of gold are evaluated based on the gold stock market price. Not only are mined gold nuggets or gold flakes traded based on the gold market price, but each gold ring, wedding band, necklace, coin, bullion coin and even dental gold is priced based on the stock-market price. For this reason, one must always know the gold price per pennyweight to know how much his or her jewelry is worth. No matter if you plan to sell gold or if you just want to know the current value for your insurance need – you always have to look for the stock-market price.
Don’t get confused from gold alloys
18K gold is more valuable than 14K gold. And 14K gold is more valuable than 10K gold. The most valuable gold is 24K gold because 24K gold contains 99.9% of pure gold. How do you find out how much pure gold your jewelry contains?
10K gold: 10 divided by 24 equals 41.6% pure gold – price per pennyweight for 10k gold: $27.46
14K gold: 14 divided by 24 equals 58.3% pure gold – price per pennyweight for 14k gold: $38.61
18K gold: 18 divided by 24 equals 75.0% pure gold – price per pennyweight for 18k gold: $49.50
22K gold: 22 divides by 24 equals 91.6% pure gold – price per pennyweight for 22k gold: $60.46
Again, the gold price per pennyweight is very important to calculate your gold’s value. Never trust a dealer saying something different.
You need to know the gold price per pennyweight when you sell gold
You need to know the gold price per pennyweight when you plan to sell some gold. You should always know how much your items are worth, no matter if you want to sell gold jewelry, sell scrap gold, coins, dental gold, or nuggets. The gold price per pennyweight is the most important factor in order to calculate your potential payout amount. You should be suspicious if a gold buyer tells you that the gold price per pennyweight is not so important and he has to see the item you plan to sell to determine the value. This is absolutely false because the gold market price is the basis for any calculation for every gold buyer in the U.S. Be careful because the gold buyer’s arguments are tricky. They try to persuade you to show your gold item before they can tell you the price per pennyweight. They argue that there could be more value than just the gold value. But there is no more value than the market value in almost all cases of selling jewelry or gold. Keep breathing. That’s the key! Don´t get us wrong. There is fine jewelry out there worth a lot more than the market value of gold. But Tiffany rings with diamonds, Van Cleef & Arpels bangles, Chopard necklaces or other high-priced jewelry, only makes less than 1% of the circulating markets jewelry. Most private individuals sell old-fashioned inherited jewelry or scrap jewelry. For this kind of gold the gold price per pennyweight is the most important factor in order to calculate a competitive payout quote.
reDollar.com offers a truly high gold price per pennyweight
Gold stock-market price for 24K gold per pennyweight: $63.94 (24h: 0.4%) We can offer you nearly the market price for your gold. Our deduction contains all costs for the evaluation, for handling, for melting and trading. You will get paid this quote net into your checking account:
You should know which gold price alloy you’re asking for?
If you want to get a correct answer you have to know what kind of gold you own. Nearly all items made of gold have to be marked by law. Take a magnifier (seen for less than $5 on Amazon) to check the purity of your gold. Lookout for marks like “14k” or “14K” or “14kt” or “.585”. This inscription tells you the gold alloy of your item. Based on that information, you can start searching for a dealer who tells you his quote per pennyweight.