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Its the Jewelery Store that ripped you off, not these guys refining is very expensive, a hammer is worth about .04 cents in material but you pay 20 bucks. Thats why you should always buy bullion.
AccurateTransmission 2 years ago
Go to a gold coin dealer. A good one will tell you what karat it is, and how much gold it is, and tell you the spot price, and what you're selling. If you don't like what you hear, go to another coin dealer.
These guys here are a group of thieves.
A Karat is 1/24th purity in weight. This means if you have a piece of gold that is 14 carat, it's 14/24 = 58.3% gold.
A troy ounce = 1.097 ounces.
fuzzywzhe 3 years ago