How To Value Your Gold Ring
How much is your gold ring worth? Valuing a gold ring that contains diamonds or gemstones is not an exact science (typically worth more than a traditional gold ring), and we will only value the physical gold content of a gold ring.
The value of a gold ring is also dependent upon the alloy in which it is mixed. The color of the ring can help one ascertain what alloys might be mixed with the gold ring:
Yellow gold rings are alloyed with gold, copper, and silver.
White gold rings are alloyed based with nickel or palladium. Most white gold rings in America are nickel based, but in Europe, most white gold rings are palladium based. Palladium alloyed gold rings have a higher overall metal value because palladium and platinum are more exensive then copper, zinc, nickel, and silver.
Rose gold rings are alloyed with copper and silver.
Given the small weight of a gold ring, the value of a yellow gold ring is based on it's gold scrap value (except palladium based white gold rings). The value of silver, copper, or zinc is immaterial. For our purposes we will calculate the value of a gold ring based upon it's 14K and 18K gold metal composition
The only piece of equipment needed to value your gold ring is a digital scale. If you don't have one you can go to your local post office. A typical gold ring weighs between 3 and 7 grams.
Below are two examples of valuing yellow gold rings based upon 14K and 18K gold content:
14K gold ring valuation example
1. The gold content in a 14K gold ring is equivalent to 58.33% gold. This percentage is derived from the calculation14K divided 24K (14/24) in order to establish the percent of gold content of 58.33%
2. The overall weight of the gold ring is weighed next. For this example, our gold ring weighs 3 ounces
3. The live (current) price of gold can be found for free at online gold bullion dealers. Kitco.com is a popular online website to view current gold prices. The "bid" is what a buyer is willing to pay per gram, and the "ask" is what a seller is willing to sell gold per gram. For our example, we will use a bid price of $61/gram.
4. Calculate the gold content value by multiplying the weight of the gold ring (3 grams) X's the live bid price of gold ($61), and multiple the sum by 58.33% (.5833).
3 grams x's $61 per gram equals = $183
$183 X's 58.33% = $106.74
In conclusion, a 14K gold ring that weighs 7 grams contains physical gold content worth $106.74
18K gold ring valuation example
1. The gold content in a 18K gold ring is equivalent to 75% gold. This percentage is derived from the calculation18K divided 24K (18/24) in order to establish the percent of gold content of 75%
2. The overall weight of the gold ring is weighed next. For this example, our gold ring weighs 7 grams
3. As established above, we will be using the value of $61 gram as our assumption on the current price of gold.
4. Calculate the gold content value by multiplying the weight of the gold ring (7 grams) X's the live bid price of gold ($61/gram), and multiple the sum by 75% (.75).
7 grams x's $61/gram = $427
$427 X's 75% = $249.07
In conclusion, a 18K gold ring that weighs 7 grams contains physical gold content worth $249.07