Scrap gold value per gram:

Here is how you calculate the value for your scrap gold per gram:

Gold sells as troy ounce based on DWT or penney weights. A troy ounce has 20 penney weights. A troy ounce has 31.1 grams.

To determine the price for grams you find the value in dwts, then convert it to grams. Each penney weight has 1.55 grams.

Take the total gram weight that you have broken down by karat then calculate the value in dwt.

Take the spot gold price divided by 31.1 then multiply the gold content 10K is 41.7% gold. 14K is 58.3% and 18K is 75% It will be the aprox amount.

10KT = 10/24 = .4167
14KT = 14/24 = .5833
18KT = 18/24 = .750

If gold spot price is 906.00 per troy ounce, and you have 23 grams of 10K gold, then this is what you have:

$906 / 31.1 = 29.13 x .4167 = 12.13 X 23 = $279.20 this is the value of 23 grams of 10k gold.

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