Going for The Gold?

Question: My Uncle gave me some gold he didn't want, but around this neighborhood you sholud know better to wear gold outside, so i was wondering how much it worth. 14k bracelet and 14k necklace, together they weigh about 3.5 onces. How much yall think it's worth.

Answer: From just a gold value perspective, 14K gold means the alloy is 14/24th's gold. For sure the remaining material in the alloy will weigh less than gold, let's estimate 70% of the weight of gold. Therefore, the gold content is 2/3rd's the weight. 2/3 = 0.67. 3.5 Oz X 0.67 = 2.35 Oz of gold. Today's market price is about $660 per Oz. So, your jewelry is worth about $1,540 for its gold content based on the above assumptions. Wouldn't it be worth more as gold jewelry?

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