There is a very simple & affordable formula to calculate the Value of Old Gold Jewelry
- Take it to a Gold testing or assaying lab & have it tested for purity.
- The lab will give you a test report which will state the accurate weight of the sample & its purity in percentage or karats.
- If you are using the karat purity
Value of Gold in the sample = (Weight of Gold x Purity of Gold x Rate of Gold today) / 24
- If you are using percentage purity
Value of Gold in the sample = (Weight of Gold x Purity of Gold x Rate of Gold today) / 100
- Example, let's say the sample weighed 10 grams with a purity of 18 Karats (75%) & rate of gold today is ₹ 3,000 per gram
Value of Gold Today (using karat purity) = 10 x 18 x 3000 / 24 = ₹ 22,500 only
Value of Gold Today (using percentage purity) = 10 x 75 x 3000 / 100 = ₹ 22,500 only