How To Calculate 14K Gold Price Per Gram

Disclaimer: This page may contain affiliate links to James Allen and Blue Nile. If you decide to make a purchase through these links, we may receive a small commission. This commission supports our website and content creation at no extra cost to you.

If you’re looking to sell jewelry made from 14-karat gold for scrap, this article is for you. In it, we explain how to evaluate your 14k gold jewelry pieces, including how to determine the pure gold content, as well as the factors that influence gold prices, so you can make informed decisions regarding when to sell your gold accessories.

Understanding 14K Gold

What is 14-Karat Gold Made Of?

Like most precious metals used in making fine jewelry, 14k gold is an alloy. This means it is composed of more than one metal besides gold, including copper, silver, nickel, and zinc. The reason why an alloy like 14k gold is a popular choice for jewelry, especially engagement rings, is because it is more affordable and durable than pure gold. Understanding the total gold in the alloy helps in assessing its value.

What Determines Gold Value?

The value of a gold piece is determined by its purity or the quantity of gold it contains. Gold purity is evaluated according to the karat system. A karat is the unit of measurement that jewelry experts use to measure the ratio of gold to other metals in a jewelry piece. For example, pure gold consists of 24 out of 24 units, or 99.9%, gold, while 14-karat gold comprises 14 parts gold and 10 parts other metals.

Of course, the weight of your 14k gold item also plays a role in determining its price, so the first thing you need to do is establish how much it weighs before you can figure out its worth. Once you know how much gold you have, you can calculate its approximate value using the current gold rates.

A Guide to Estimating Gold Price

One way to calculate the worth of your 14k gold jewelry is to use current gold prices in the United States dollar. Here is a step-by-step guide on how to do this at home. You can also use this method to evaluate rare coins or other high-value items made of gold.

Step 1: Weigh Your Gold

To weigh your 14k gold item at home, you’ll need a digital scale that measures in ounces or grams. You’ll also need to remove any pieces that are not made of gold because including their weight in your calculation will result in an inaccurate answer.

Lay your 14k gold item on the scale and note its weight. Repeat the process once or twice to ensure the most accurate reading.

Step 2: Calculate The Quantity of Pure Gold

After weighing your 14k gold piece, use the reading you obtained from the scale to calculate the amount of pure gold it contains. You can do this by multiplying the item’s weight by 0.583, which is the percentage of pure gold in 14k gold.

So, for example, if your 14k gold item weighs 5 grams, this equates to roughly 2.91 grams of pure gold (5 x 0.583).

Step 3: Calculate The Gold Price Per Gram

Now that you know how much gold you have, you can determine its worth according to the gold price per gram. The current gold price per gram in various currencies can be found on several websites, but note that the official unit of measurement jewelers use for pricing gold, silver, and platinum is the troy ounce. A troy ounce is not the same as a regular ounce or gram, so you will need to convert the current gold price per gram to troy ounces before you can work out the price of your 14k gold item.

To do this, you first need to be aware that one troy ounce equals approximately 31 grams. You then multiply the current price for gold in grams by 31 to get the price of gold per troy ounce, for example:

62.73 USD per gram x 31 grams per troy ounce = 1,944.63 USD per troy ounce

Next, you should convert the weight of the gold you own into troy ounces:

2.91 grams / 31 grams per troy ounce = 0.094 troy ounces

You then multiply your answer with the gold price per troy ounce to get the price of your 14k gold piece to the nearest United States dollar:

0.094 troy ounces x 1,944.63 USD per troy ounce = 182.80 USD

Thus, a 14k gold piece weighing 5 grams (which translates to roughly 2.91 grams of pure gold) is worth approximately 182.80 USD. However, bear in mind that gold prices vary from day to day, so these calculations will only give you a rough estimate of the total gold value.

Gold Price and Market Value

Gold Price Fluctuations

The price of gold is a critical factor in determining the value of 14K gold jewelry. As mentioned previously, the market price of gold fluctuates daily due to various economic factors, such as supply and demand, inflation, and global events. These fluctuations can significantly impact the value of 14K gold jewelry, making it essential to stay up-to-date with current market prices. By keeping an eye on these fluctuations, you can make more informed decisions about when to buy or sell your gold pieces.

A gold calculator can help you estimate the value of your 14K gold jewelry based on its weight and current market price.

Tips for Buying and Selling

Avoiding Common Pitfalls

The biggest pitfalls to avoid when buying or selling your gold jewelry are lack of research, hasty decision-making, ignoring gold purity levels, and not getting multiple quotes. These can lead to unfair transactions and even falling for potential scams. To help you get the best deal, here are some tips for negotiating with gold buyers and jewelers and identifying trustworthy dealers:

Negotiation Strategies

• Research market prices: Before entering negotiations, understand the current market price of gold. This knowledge will help you set realistic expectations and negotiate a fair price.
• Set a baseline value: Determine the minimum price you’re willing to accept for your jewelry. This helps prevent underselling and provides a starting point for negotiations.
• Use a gold calculator: A gold calculator can help you estimate the value of your 14K gold jewelry based on its weight and current market price. Ensure you’re using the correct unit of measurement (e.g., troy ounce or gram) to calculate the value of your gold accurately.
• Understand the value: Be clear on whether your gold has any additional value beyond its weight, such as collectible or historical significance, which can affect its price. It can be a good idea to get your gold appraised by a professional beforehand to verify its value and authenticity.
• Start high: Begin negotiations with a higher asking price than your minimum acceptable price. This gives you room to negotiate downwards while still achieving a satisfactory deal.
• Get multiple offers: Do not accept the first offer you receive. Shop around and compare prices from different buyers or sellers to ensure the best deal.

Identifying Trustworthy Dealers

• Check credentials and reputation: Look for dealers with proper certifications, licenses, and a solid reputation in the industry. Customer reviews and testimonials can provide insights into their reliability. Avoid pawn shops or online marketplaces where fraud is more prevalent.
• Avoid high-pressure sales tactics: Trustworthy dealers will not rush you into making a decision or use scare tactics. Be wary of those who do.
• Request documentation: When buying, ask for a certificate of authenticity and other relevant documentation to ensure the gold’s purity and legitimacy.
• Transparent pricing practices and return policies: Choose dealers who offer clear explanations of how they value your gold and are transparent about fees or commissions involved. Also, check for favorable return policies.
• Secure transactions: Ensure that the dealer provides secure and insured transactions, offering peace of mind during the selling process.

Verdict: How Much is 14K Gold Worth?

14k gold is generally worth very little when it is sold as scrap gold, which is what we have focused on in this article. However, antique pieces, collectibles, and items with intricate details or unique designs can be quite valuable, depending on how much buyers are willing to pay for them. For example, you might get more for your 14k gold piece at an online auction than you would at a gold dealer since they typically offer 20%-30% less per gram or ounce of gold than the market price. Also, keep in mind that gold prices fluctuate every day, so it is possible to get more or less for your 14k gold jewelry depending on the gold price on a particular date.

Note: While we strive to provide accurate pricing information, please be advised that multiple factors influence gold prices. The prices listed are for reference only and are subject to change without notice.