raydenintl
Member
- Joined
- Aug 8, 2022
- Messages
- 8
This holds all the hallmarks of scamming, wrong region, wrong idea of transport and so on.If serious, Contact +44 7341 063323 so that we will be able to proceed..
Please enlighten me on how or the best way I can sell my gold without being thought of being a scammer? I believe you can advise me and others like me in the forum.This holds all the hallmarks of scamming, wrong region, wrong idea of transport and so on.
YOU, will have to somehow prove/convince it is not a scam.
Nobody in this forum will touch such Gold while in Africa, maybe not even after.
Sorry I do not buy Gold at all, so I'm the wrong person.Please enlighten me on how or the best way I can sell my gold without being thought of being a scammer? I believe you can advise me and others like me in the forum.
Where do you get the Gold?You know one of them you share contacts? Because if I had one serious one I would not be in the forum looking for one.
Hi raydenintl,Please enlighten me on how or the best way I can sell my gold without being thought of being a scammer? I believe you can advise me and others like me in the forum.
Where do you get the Gold?
If it is a mining area, there should be buyers around.
That should be a good place to start
Per the bold print - that is not quite true - if a troy ounce was in fact weighted by the gram it would be an even 31 grams (or some other even number) - rather the 31.1 grams --- ever wonder why that .1 (point 1) gram in a troy ounce?????the buyers will beat you over the head. Trust me ! They pay penny wight when a Troy once is wighted by the gram,
This is correct. I use grams because I learned grams first. But my palladium buyer uses pennyweight. Actually a lot of buyers I know use pennyweight. As long as your math is correct, as he stated, it doesn't make a difference. The money comes out the same. In my experience, since pennyweight is 20 per toz, it's actually easier, I'm just too old to change now. You just have to be more careful if they want to round down to to even pennyweight.Per the bold print - that is not quite true - if a troy ounce was in fact weighted by the gram it would be an even 31 grams (or some other even number) - rather the 31.1 grams --- ever wonder why that .1 (point 1) gram in a troy ounce?????
Because the troy ounce is based on the grain system of weight/measurement - which is originally derived from the ancient system of weight wherein a single grain of barley was used as "weight unit standard"
In other words - in ancient times - a grain of barley was used as the standard for small & accurate weighing
Grains of barley of course can be different sizes & therefore slightly different in weight - so - as systems of weight became more accurate the "grain" standard of weight was "set" at exactly 64.79891 milligrams (the average weight of a grain of barley when they "set" the standard)
Pennyweight - the pennyweight has long been the common weight used in the valuation and measurement of precious metals
Why ? --- because a troy ounce has exactly 480 grains in it - so in the grain system of weights a troy ounce has an even number of grains to it (480) & not a decimal number to it - because the troy once is originated on the grain system rather then some other system
So where did the pennyweight come from --- in the middle ages the English penny was set at 1/20 (one twentieth) troy ounce (copper) so 480 grains divided by 20 = exactly 24 grains - or one pennyweight
Now then - 1 gram = 15.4322584 grains - therefore if you do the math in grains - using 1/20 troy ounce for a pennyweight (24 grains) a pennyweight = 1.555 grams - & if you multiply 1.555 grams X 20 = 31.1 grams per troy ounce
That is where the .1 (point 1) gram in a troy ounce comes from --- it is because the troy ounce is based on a grain system of weight measurement & not a gram system of weight measurement
And that is why - to this day - some gold buyers still buy gold based on the pennyweight - & why digital scales have a dwt (pennyweight) mode
So it really does not matter whether you calculate by the gram or by the pennyweight it calculates out the same
Example; - if gold is say $1850 ozt
$1850 divided by 20 (pennyweight) = $92.50 per pennyweight divided by 1.555 = $59.485 per gram (buyer will drop the 1/2 cent & round down to $59.48)
$1850 divided by 31.1 (grams) = $59.485 per gram (buyer will round down to $59.48)
If you have the scale set in pennyweight mode & put 1 gram gold on it the scale will read 0.643 pennyweight
Therefore at $92.50 per pennyweight X 0.643 = $59.4775 worth gold (so buyer will add the 1//4 cent & round up to $59.48)
That is of course considering the scale is accurate & properly calibrated - in other words whether you weigh by the gram or the pennyweight it will calculate out the same - provided the scale is accurate & properly calibrated
For what it is worth - 1 grain gold - at $1850 is worth $3.8541666666666
Kurt
Enter your email address to join: