Many people who are looking for ways to make ends meet in today's uncertain economic times have begun to look at gold jewelry that they own and wonder "just how much is gold worth?" The process of determining the value of gold is not just a simple matter of having a jeweler take a cursory look to offer a price. If your gold has been valued that way, then you may have been the victim of a scam. Here are a few things that you need to know in order to find out the true value of your gold.

Current Prices

The price of gold is always changing. Current world events and worry about the stability of a country's currency tends to drive the price higher, while a strong national economy and currency may mean that gold will have a lower value. One easy way to check current prices to make sure you are getting a fair price is to contact a reputable gold dealer in your area. They should be able to show you what the current market value is for your gold.

Karat of the Gold

Some, when planning to sell gold jewelry assume that all of their gold is the same. The karat of the gold being sold, however, can dramatically affect the price given for the jewelry. A reputable gold dealer will be able to test and find what percentage of gold is actually in your jewelry. For instance, 14 karat gold is made of 14 parts gold and 10 parts other metals. If you know that your jewelry is of different karat weights, then it should be weighed and measured separately in order to give an accurate value.

Weight of the Gold

One common mistake when asking "how much is gold worth?" is that some try to weigh their gold on a small postal scale that measures 28 grams per ounce. This may cause confusion as jewelers use a different weight scale where gold is measured at 31.1 grams per Troy ounce. By knowing this in advance, much confusion may be avoided. To receive a fair, honest appraisal of your gold jewelry from the experts at Ralph Mueller & Associates, call (480) 949-9299 today.