How Much Is 18kt Gold Worth
With this specially designed how much is gold worth calculator, you can quickly and easily figure out how much 18 karat gold is worth. Slowly but surely, the general public is becoming more and more aware that gold is hot right now and that prices are even hotter! The reason behind the soaring prices is that the price of gold itself has skyrocketed more than 400% in the last decade. With no end in sight, now could be a great time to bank the high price of 18 karat gold and cash-in on scraps or old and broken jewelry that you may have lying around.
Instant ‘How Much Is 18 Karat Gold Worth’ Calculator
How to Use The ‘How Much is 18kt 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 18kt gold worth
Select ‘Grams’ & Enter ‘1’ in the ‘Quantity’ field.
- How much is 10g of 18kt gold worth
Select ‘Grams’ & Enter ‘10’ in the ‘Quantity’ field.
- How much is 100g of 18kt gold worth
Select ‘Grams’ & Enter ‘100’ in the ‘Quantity’ field.
- How much is 1Kg of 18kt gold worth
Select ‘Grams’ & Enter ‘1000’ in the ‘Quantity’ field.
- How much is 1oz of 18kt gold worth
Select ‘Troy Ounces’ & Enter ‘1’ in the ‘Quantity’ field.
How to Calculate How Much 18 Karat Gold is Worth
In order to calculate how much 18 karat 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 18 karat gold is 18/24 which equals .75 or 75% pure gold. Millesimal Fineness is a more accurate measurement of purity which is based on parts out of 1000. Thus 75% gold is a Millesimal Fineness purity of ’750′.
Therefore, the formula to calculate how much 18 karat gold is worth is:
(Spot Price of Gold * Weight of Gold (Troy Ounces)) * (75/100)
18 Karat Gold Jewelry
18 karat gold is 75% pure gold and maintains much of gold’s original ‘yellowness’ as it is still very much gold. The remaining 25% is made up of other metals, usually copper, silver, nickel or zinc. Such metal mixes are known as alloys.
In most countries including the US, jewelry is seldom made from gold of a higher purity than 18kt as it is too soft and not suitable for the purpose of everyday usage. 18kt gold is therefore one of the highest purities in which jewelry is commonly available and consequently is a very valuable form of gold jewelry.
Generally, all jewelry bought from a reputable seller will be stamped with a ‘hallmark’ indicating the item’s purity. This may be ‘18kt’ as expected or ‘750’ which is a value based on the millesimal fineness scale and indicates 750 parts out of a 1000 i.e. 75%.