How much can you pawn a gold ring for?
For example, as of the day of writing this article pawn shops pay around $1250 for an ounce of pure gold.
If you have 10k gold jewelry, you can sell it for $16.35 per gram, and 14k gold jewelry can be sold for 423.50 per gram.
How much would a pawn shop give for a ring?
Most jewelry stores and pawn shops pay approximately 50 cents for every dollar of scrap gold value. If the value is $1,000, for example, a store will offer to buy the ring for approximately $500. At Abe Mor, however, they offer 75 cents for every dollar of scrap value.
How do pawn shops calculate gold value?
Here’s how calculate approximately how much pawn shops will pay for your gold bracelet:
- Multiply the weight of your bracelet (just the gold part) by the percentage of gold that your karat indicates.
- Multiply the grams of actual gold (12.51 in the example) by the current price of gold in grams.
How much will a pawn shop give for 14k gold?
14K Gold is similar to 58.5% gold. Multiply 0.585*21.4 to get 12.51grams. Afterward, multiply the resultant value (12.51) by the current price of gold to get the approximate value pawnshops is likely to offer you for your piece of jewelry.
How much is a 14k gold ring worth?
Now, since 14K gold is only 58.33% actual gold, we divide the per gram price of pure gold ($37.531) by 0.5833 to arrive at a 14K gold price of right at $21.92 a gram. Now you multiply the weight of the ring in grams by the price per gram at 14K, and you have the spot price of your ring.
How much is a 10k gold ring worth at a pawn shop?
So, if you have a five-gram 10K gold ring, and the current price of gold is $1,600.00 per ounce – or $51.45 per gram ($1,600.00 divided by 31.1 grams), then your 10K gold ring is worth $21.44 per gram ($51.45 x . 4167), or $107.20.