What is the value of a 10K gold class ring from Jostens?
Answer by managers of GOLDIVANTI LP
I may refer to the value of 10 karat. Karat is old measure for gold. If you divide the karat number by 24, you will get the percentage of pure gold in the metal.
For example, 10 divided by 24 is 0.4166 or 41.66%
That is how much pure gold you have in the metal that has hallmark of 10 karats.
Now, you take the weight of the gold. If you have 10 grams, 41.66% is 4.16 grams of pure gold.
The next to determine is the current gold price. It changes every day. I recommend looking on the authoritative website of London Bullion Market Association. The gold price changes every day, every hour basically.
For example, as of writing of this article, there is price: $1094.85 for one troy ounce. One troy ounce is 31.10347680 grams. If you divide $1094.86 by troy ounce, you will get the price per gram of pure gold. This is today US $35.20 per gram of pure gold.
Let us go back to your 10 karat gold ring, that has 10 grams (and this is too much for your ring). In those 10 grams, you would have 4.16 grams of pure gold, multiplied by the price of US $35.20, the end result would be: US $146.43
That is the value for gold as metal. Not for jewelry value. As jewelry, it should have some 5% or 10% more. Some jewelry value is more than 100% of the value of metal and gemstones, sometimes 300% or 500%.
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