Calculate Value Before Selling Gold At Doorstep

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Calculate Value Before Selling Gold At Doorstep
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Gold has always been considered a valuable
commodity and has been used as a form of currency
for centuries. It is a safe haven asset that is
used to hedge against inflation, currency
fluctuations, and geopolitical uncertainties. If
you own gold jewelry, coins, or bars, you may be
curious to know their value. Calculating the
value of your jewellery before selling it is
considered one of the most important steps. The
biggest reason why you should calculate the value
of your Gold before you decide to sell Jewellery
at doorstep is to eliminate the risk of a fake
jewellery dealer fooling you by giving you a low
price. If you know all the right steps then
calculating this value of your Gold is not that
difficult. But there are various people who say
that because of lack of knowledge it becomes a
difficult for them to calculate this value. This
is why we are writing this article so that you do
not face any problem in this particular sector in
future. Here's how to calculate the value of gold
at home
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Determine the Purity of the Gold
Gold is measured in karats (K) which is a unit of
purity. 24 karat gold is 99.99 pure gold, while
22 karat gold is 91.7 pure gold. The purity of
gold jewelry is usually marked on the piece
itself. If it is not marked, you can take it to a
jeweler who can determine its purity. For those
of you who are wondering why the purity of gold
is different for different jewellery it is
because of the fact that pure gold is very
fragile. Now to make any jewellery out of this
pure 24 carat gold it becomes important to add
impurities in it. Calculating this purity of your
Gold is nothing but calculating the amount of
impurities in it. It is obvious that the pure
your jewellery is the higher the price you will
get for it. And the easiest option for you to get
this purity is by checking the receipt of your
purchase.
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Weigh the Gold
You will need to weigh the gold to determine its
value. Use a digital scale that can measure in
grams or troy ounces. A troy ounce is equivalent
to 31.1 grams. One thing that you need to be very
careful about is using a very precise machine to
calculate this weight. For your reference the
current selling price of 1/10th of a gram of gold
is more than 500 rupees. Which means that if you
make such a small error in your calculation you
will lose a great deal of money. To protect
yourself from this thread of losing your money we
advise you to use the most accurate weighing
machine in the market. If you don't have this
accurate weighing machine with you you can always
take your jewellery to a genuine gold dealer at
doorstep and they will calculate this value for
you.
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Check the Current Gold Price
The value of gold fluctuates on a daily basis, so
you will need to check the current gold price.
You can do this online or in newspapers. The
price of gold is usually quoted in troy ounces or
grams. Various genuine gold buyers such as
cashfor gold and silverkings also upload these
prices on their websites. You can check these
websites to get updated about the current selling
price of your Gold in the market. If you are not
satisfied with the prices that they are giving
you can also give them a call and negotiate.
These dealers also update these prices on a
regular basis. Which simply means that it becomes
easier for you to sell your jewellery the moment
you find that the prices are the highest.
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Calculate the Value of the Gold
Once you have determined the purity of the gold,
weighed it, and checked the current gold price,
you can calculate the value of the gold. To do
this, use the following formula Value of Gold
Weight of Gold x Purity of Gold x Current Gold
Price For example, if you have a 22 karat gold
necklace that weighs 20 grams and the current
gold price is 55,000 per 10 gram, you can
calculate its value as follows Value of Gold
20 grams x (22/24) x (55,000) One thing that you
need to keep in your mind is that the price of
gold fluctuates almost everyday. Which means that
while calculating this value for your Gold you
always need to make sure that you have the most
recent selling price of your jewellery. At the
same time you also need to ensure that you are
getting that price from the most reliable source
in the market so that you can easily get high cash
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Consider Additional Factors
The above formula provides a basic calculation of
the value of your gold. However, there may be
additional factors that can affect its value. For
example, rare or antique gold coins may be worth
more than their gold content due to their rarity
or historical significance. Similarly, if your
gold jewelry has precious stones or gems, their
value should also be taken into account. Whenever
you have such precious stones attached to your
jewellery it is always advised to make sure that
you sell them separately from your jewellery.
This is done mostly to avoid a situation where
your Gold dealer will not be having proper
equipment to calculate the value of these
precious stones.
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In conclusion, calculating the value of gold at
home can be done by determining its purity,
weighing it, checking the current gold price, and
using a simple formula. However, keep in mind
that there may be additional factors to consider
when valuing your gold. If you are unsure about
the value of your gold, it is always best to seek
the advice of a professional appraiser or
jeweler. In the following article we will also
tell you what is the right procedure that you
should use after getting the Rough value of your
jewellery. This will also help you in finding the
right buyer for your Gold.
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