Posted on Thursday, August 18th, 2011 at 11:55 am by Pamela
Gold Conversions Posted in American Gem Society, Appraiser, Certified Gemologist, Certified Gemologist Appraiser, Gold, Jewelry Appraiser, Registered Jeweler tagged appraisals, Gold, scrap gold, sell gold at 5:00 am by agsblingblog
Question: How is penny weight (dwt) converted to ounces for the sale of gold?
Answer: To convert dwt (pennyweight) to ounces, divide by 20. Keep in mind, 14 karat is only 14/24 gold. This too must be figured before the gold value can be determined. Then, there are costs to refine the gold. When old gold is purchased, hundreds of pieces will be sent to a refiner rather than individually. This divides the refining costs among the total weight. It's important to visit someone you trust if wanting to sell your gold or jewelry. Have them show you the weight on a scale so that you understand what you are giving up and what you are receiving in return. Dii