Understanding Scrap Gold
Scrap gold refers to unwanted or broken items containing gold that can be recycled for their precious metal content. To determine the value of your scrap gold, consider its purity (measured in karats), weight and the current market price of gold. By multiplying the weight of your gold by its purity percentage and the current gold price per unit, you can estimate its worth. For instance, a 14K gold piece weighing 10 grams, with gold priced at $60 per gram, would be valued at approximately $349.80. Utilizing online calculators can simplify this process.