How Much Is 14kt Gold Worth
With this specially designed calculator, you can quickly and easily figure out how much 14 karat gold is worth. Visit any internet wiki or Q&A site and you may well be amazed at how many people are wanting to know the answer to this question. No doubt the fact that 14kt gold is a very much used in jewelry making is the reason why interest in this particular karatage is so high. Likely you have noticed that gold shopping trips are not as merry as they used to be as reality dawns that jewelry such as gold necklaces, ear-rings, studs and other such trinkets are costing a lot more to buy today than they did a few years ago. The fact is that the price of gold has risen every year since 2001 and that the value of the bullion content in a 14 karat gold ring for example has quadrupled since then! No wonder it is costing a lot more to buy the same ring nowadays. On the other hand, for any 14 karat gold scraps or old and broken jewelry that you may want to discard, right now might just be a great time to cash in.
Instant ‘How Much Is 14 Karat Gold Worth’ Calculator
How to Use The ‘How Much is 14kt Gold Worth’ Calculator
Simply enter the weight of gold in Troy Ounces or Grams. Be careful to choose the right unit otherwise you may be selling yourself short!
Next, look at the ‘Current Price of Gold’ box on the right hand side of the screen and enter the gold price into the form. Now just hit the ‘How Much Is Gold Worth’ button and get your instant quote.
If for example, you wish to calculate:
- How much is 1g of 14kt gold worth
Select ‘Grams’ & Enter ‘1’ in the ‘Quantity’ field.
- How much is 10g of 14kt gold worth
Select ‘Grams’ & Enter ‘10’ in the ‘Quantity’ field.
- How much is 100g of 14kt gold worth
Select ‘Grams’ & Enter ‘100’ in the ‘Quantity’ field.
- How much is 1kg of 14kt gold worth
Select ‘Grams’ & Enter ‘1000’ in the ‘Quantity’ field.
- How much is 1oz of 14kt gold worth
Select ‘Troy Ounces’ & Enter ‘1’ in the ‘Quantity’ field.
How to Calculate How Much 14 karat Gold is Worth
In order to calculate how much any amount of gold is worth, one must know:
- The weight of the gold bullion
- The purity of the gold bullion
Weight can be measured in grams but because precious metal prices are quoted in Troy Ounces, it is generally easier to work in these units of mass. 1 Troy Ounce is equal to 31.1034768 grams. Therefore:
To convert grams to Troy Ounces, use the formula:
Troy Ounces = Grams / 31.1034768
Purity is measured in Karats or Millesimal Fineness. Karats are a measure of gold purity where 24 karats represents 24 out of 24 parts gold. Thus 14 karat gold is 14/24 which equals .583 or 58.3% pure gold. Millesimal Fineness is a more accurate measurement of purity which is based on parts out of 1000. Thus 58.3% gold is a Millesimal Fineness purity of ’583′.
Therefore, the formula to calculate how much 14 karat gold is worth is
(Spot Price of Gold * Weight of Gold (Troy Ounces)) * (58.3/100)
14 Karat Gold Jewelry
14 karat gold is 58.3% pure gold. Pure gold is not used for jewelry as it is too soft and not suitable for the purpose. For this reason, gold is mixed with other metals such as copper, zinc, nickel etc…to form gold alloys of varying purity.
Most gold jewelry in the US is made from anything between 10 and 18 karat gold but different countries have different tastes and it is not uncommon to find an Indian bride glistening in pure 24 karat jewelry.
Generally, all jewelry bought from a reputable seller will be stamped with a ‘hallmark’ indicating the item’s purity. This may be ‘14kt’ as expected or ‘583’ which is a value based on the millesimal fineness scale and indicates 583 parts out of a 1000 i.e. 58.3%.