February 29, 2020 - Jewelry & Luxury Items
Its symbolic and literal value has spurred wars of horrific conquest and trade of incommensurable riches. William Jennings Bryant, the American populist candidate for president in the late 19th century, insisted that we not be crucified on a cross of it.
Flakes of gold have been found in Paleolithic caves dating as far back as 40,000 B.C. And, by 3000 B.C. ancient Egyptian pharaohs had begun displaying gold as an esteemed status symbol. Even scripture in Genesis, the first book of the Bible, equates gold to worthiness.
Some people even think it’s pretty.
While daily values rise and fall, 10k (karat) gold remains a great hedge and store of long term value. Read on to find out how much your 10k gold is worth, and for more droll commentary.
Alright, this is really easy. Your gold is worth whatever the present spot value of an ounce is multiplied by its weight in ounces, less some discount that the buyer takes out, because you personally can’t sell something to the global gold market. Moving the gold and assessing its value has real costs and those have to be factored in.
The current price of gold in United States dollars is estimated at $1,294.45 per oz. But I’m not going to update this every day, so you should definitely check that link.
Do you know what karats mean? The great thing about the internet is, no one can see what you’re asking. Don’t worry, we won’t tell anyone that you’re reading this because you don’t know what karats are. We don’t get paid to do that.
Karat is how we describe the purity of gold. Pretty similar to how we describe the alcohol-iness of alcohol in proof. It’s a little anachronistic, but hey, none of us are getting paid to fix it. For example, 10 karat gold is 41.7%. Additionally, 14 karat gold is measured at 58.3% purity. Finally, 24 karat gold is measured at 100% purity.
If you are selling your gold to a gold buyer, like a pawn shop, you can expect to get approximately 75% of your gold’s spot value.
When selling gold, its form is not so important. People sell gold in all forms including:
Basically, any type of gold that you have is sellable. Gold buyers, pawn shops, and many online and jewelry retailers will buy gold in every form. It’s basically the most fungible store of value in the world, except for cash and Dogecoin.
If you’re ready to find out how much your 10k gold value is worth, PawnGuru can help.
You can receive multiple offers for gold, as well as other precious metals and gemstones, all in one place. You might be surprised at just how much you can get for the unused gold and silver that’s sitting in your jewelry box or lying around your home right now.
Submit your gold on our website here, and get multiple cash offers on your 10k gold today!
David Stiebel is one of the cofounders of PawnGuru. David was educated at MIT, where he studied Math. He subsequently worked at Bain as a data scientist before starting PawnGuru in 2015. He started PawnGuru to build a better tool for pawn shops and consumers to connect.More Articles