## Scrap Gold Prices

These are the **Gold Price Calculations and Conversions** that determine scrap gold prices and how much you will receive for your gold.

**Every calculation I use on this site is listed below.**

They are all very simple mathematical equations.

Understanding why they work is the key to knowing the process we are discussing.

**Using the Calculator page to determine scrap gold prices is not a substitute for knowing how these calculations work, it just makes it faster. **

**Need a little more help, do not forget the Glossary.**

**Spend a few minutes understanding this page, it's like riding a bike, once you know it, you will never forget it.**

**Convert Troy ounces to Pennyweights to Grams**

In the gold buying industry, gold is usually bought and sold by troy ounces and pennyweights. The only reason the industry clings to the Troy ounce system instead of the standard metric system of weights, is to make it a little more confusing for the general public to understand. The standard unit of measure they share is the gram.

1 Troy ounce = 20 pennyweights or 20 DWT

1 Troy ounce = 31.1 grams

1 pennyweight is 1.555 grams = (31.1 / 20)

1 gram = .643 pennyweights

**Convert pennyweights to grams**

1 pennyweight (dwt) = 1.555 grams

multiply #(dwt) x 1.555

example 3 dwt x 1.555= 4.7 grams

**Convert grams to pennyweights**Divide number of grams by 1.55

example:

25 grams = "x" pennyweights(dwt)

25 / 1.555 = 16.1 pennyweights (dwt)

**Convert karats to percentage of purity**

divide number of karats by 24

example 14 / 24 = .583 percentage

**Gold Price per gram-of pure 24 K gold**

divide world market price (quotes in Troy ounces) / by 31.1(grams)

**Gold Price per pennyweight**

divide world market price / by 20

**Convert world price per gram or pennyweight to X Karat of purity (1-24)**

multiply world price per gram (X) by percentage of gold purity(Y)

Example Gold price = 1000 per toz (troy ounce)

convert to 14K

$1000(X) x .583(Y) = $583.00

**Convert world gold price to price per gram of different purities**

Figure out world gold price per oz of purity you have(see above)

Divide by 31.1 for price per gram

Divide by 20 for price per pennyweight

Examples:

for grams(g)

Gold price = $1000

1 oz 14K = $583.00

1 gram = $583.00 / 31.1 = $18.74 a gram

for pennyweights(dwt)

gold price = $1000

1 oz 14K = $583

1 pennyweight =$583 / 20 = $29.15 a (dwt)

**Weight conversions**

Gram = .64 pennyweights (dwt)

Gram = .032 Troy ounce

Gram = .035 Avoirdupois Ounce

Pennyweight(dwt)= 1.55 grams

Pennyweight(dwt)= .050 Troy ounce

Pennyweight(dwt)= .054 Avoirdupois ounce

Troy ounce = 31.10 grams

Troy ounce = 20 pennyweights

Troy ounce = 1.1 Avoirdupois ounce

Avoirdupois Ounce = 28.34 grams

Avoirdupois Ounce = 18.23 pennyweights

Avoirdupois Ounce = .911 troy ounces

**(THE MAGIC QUESTION)**

**Offer percentage calculation in grams**

Determine scrap gold prices per gram of purity being sold

Divide "offer price" by actual gram price X 100

**example:**

Gold = $1000

1 gram(g)14K = $18.74

Offer price is $12.00 (g)

$12.00 / $18.74 x 100= 64%

**Offer percentage calculation in pennyweights**

Determine price per pennyweight of purity being sold

Divide "offer price" by actual pennyweight price X 100

**example:**

Gold = $1000

1 pennyweight (dwt) of 14K = $29.15

Offer price is $17.00(dwt)

$17.00 / $29.15 x 100=58.3%

**These calculations will help you determine scrap gold prices and you can use those prices when you go to sell your gold. If you have any questions, please use our convenient Contact Us form and I will answer just as quickly as possible.**

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