how much would an 18k gold necklace that weighs 6 oz. sell for?
and where would be the best place to sell it to get maximum value; pawn shop, jewelery shop, coin dealer, etc?
- likepepsiLv 79 years agoFavorite Answer
I'm going to assume that your weight is in avoirdupois ounces, as that's the most common. But gold is sold in troy ounces which are not exactly the same. A troy ounce is a little smaller than an avoirdupois ounce.
6 avoirdupois ounces = 5.46875 troy ounces.
18k gold is only 75% pure gold, so we reduce the above by 25% which comes to 4.1 troy ounces of pure gold. Right this second, gold is at $1431 per ounce, so 4.1 ounces would be $5867 worth of pure gold.
Now, you have to remember that your scale is probably not perfect because you gave a round number for the weight, and every tiny fraction counts. And nobody will pay you the full price of gold, since they have to make a profit, especially when the gold is not pure already. So I would expect to get about $5300 plus or minus to allow for inaccuracy of your scale.
The easiest way to find out what you could get is to call a couple jewelry shops and coin shops and ask what they are paying for 18k gold. They will probably give you a price per gram or a price per pennyweight.
There are 31.1 grams in a troy ounce, and 20 pennyweight per troy ounce. So you can adjust between them if you need to.
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- 9 years ago
Here is a gold calculator you can use from my website, it will estimate how much we will offer you for your necklace. We have no fees whatsoever, so what you see here is what you get. Your necklace will go directly to the refinery instead of through a middleman. If you do not like the offer we give you, you can always decline the offer and we will send it back to you ASAP.Source(s): http://metallixdirectgold.com/gold/
- 9 years ago
look at www.kitco.com to see the current gold prices (it changes all day everyday) and the best place would be a pawnshop because if you know what it is worth than you can haggle with them as opposed to a jewlery store won't really even care if they buy it or not, they will give you the absolute minimum
- csrobertsLv 59 years ago
A jewelry shop is your best bet. If you are lucky they will give you 50-60% of the value. Any other place will give you 20-30% of the real value.
- 5 years ago