Gold has no fixed market value. To get the latest value, go to www.coinflation.com or better yet is www.kitco.com which gives an update every 15 minutes.
A carat in this case is the amount of gold present in the item. 24 carat gold is pure gold.
Since gold is a very soft metal and can be abraded easily it usually is blended with another tougher metal. 12 carat gold is 50% gold and 50% 'other'. 9 carat gold is 9/24 or 37.5% gold.
So, to get the value in dollars, you would need to know the weight of the item. Let's say the weight is 20 grams (a nickel weighs 5 grams). The latest value of gold (its value values by the minute, called the spot value) is about $1096 per troy ounce. 1 gram = .03215 troy ounces
Now you have all you need to calculate the current value of your gold containing item. So here we go.
Value of the item = 20 x 0.03215 x 9/24 x 1096 = 264.27 dollars
The most important thing is to have an accurate scale to measure the item's weight. Also realize that if you sell the item to a coin shop or pawn shop they will always deduct an amount to protect their business. So, find out in advance what the this amount will be. Call around. This amount is called a premium and they all will demand it. If the premium is 5% that will be deducted from the 264.27 above leaving $251.06 for you.
A carat in this case is the amount of gold present in the item. 24 carat gold is pure gold.
Since gold is a very soft metal and can be abraded easily it usually is blended with another tougher metal. 12 carat gold is 50% gold and 50% 'other'. 9 carat gold is 9/24 or 37.5% gold.
So, to get the value in dollars, you would need to know the weight of the item. Let's say the weight is 20 grams (a nickel weighs 5 grams). The latest value of gold (its value values by the minute, called the spot value) is about $1096 per troy ounce. 1 gram = .03215 troy ounces
Now you have all you need to calculate the current value of your gold containing item. So here we go.
Value of the item = 20 x 0.03215 x 9/24 x 1096 = 264.27 dollars
The most important thing is to have an accurate scale to measure the item's weight. Also realize that if you sell the item to a coin shop or pawn shop they will always deduct an amount to protect their business. So, find out in advance what the this amount will be. Call around. This amount is called a premium and they all will demand it. If the premium is 5% that will be deducted from the 264.27 above leaving $251.06 for you.
