The weight of the band in question depends entirely on the size and thickness. Also, pricing gold jewelry according to scrap weight value is not a very accurate way to determine its true value. Current market gold price per gram or ounce is indicating the price of pure 24K gold, not the weight of jewelry gold which has been alloyed with other metals to produce 10K, 14K or 18K gold. Plus, the value of the band as jewelry doesn't have anything to do with it's value as pure scrap weight, as the value as jewelry includes alloying, production costs, retailer overhead and so on. If you pay $150 for a 5 gram ring made of 14K gold, you are paying for all those production and overhead costs, in addition to the pure value of the metal involved. There is a specific formula you need to determine its value as pure scrap weight, which is what you'd get if you sold it to a gold scrap dealer, and not for its value as a piece of jewelry, and would be much less than retail value, since it does not take those factors into account - only the karatage of the gold, and the gram weight or pennyweight.
answered 4 years, 9 months ago
- Greenfield, IN