noob question (sry i didnt know where to post this one)

[GoldSmith_]

hi there ,
here is my noob question .. just to know if i understand everythig right..
i will make it just plain simple

if i refine 1gram of 12k gold at the end of the process do i only get 0.5gramm of 24k gold?

based on the fact that if i have understand well 12k mean that 12 parts on 24 are gold and the other half is other metals ...

YES u can laugh at me i have to start somewhere right? :mrgreen:

have a nice day,

p.s. sorry my english is not very up to date hope you will understand

 

[Barren Realms 007]

This might help aswer your question.

View attachment ArtsInQuartation.xls

 

[Harold_V]

if i refine 1gram of 12k gold at the end of the process do i only get 0.5gramm of 24k gold?

In theory, that is correct. In practice, it may not be. There can be losses, due in part to poor procedures and poor workmanship. You are also at the mercy of the honesty of the person that created and marked the item in question. It may or may not be 12K, in spite of the marking. Marking laws in recent past allowed for as much as a full K of error, and it was still perfectly legal.

Harold

 

[Buzz]

Thanks for posting that chart Barren.

I'm going to find that very useful.

Regards
Buzz

 

[GoldSmith_]

thanks for the reply , i try to figure out if gold can be anyhow profitable and if i can make (not now sure i have a lot to learn) a living out of this ..by buying scrap refine it and sell .999 ...i have tried to find a price list of what i can expect to pay for 8k 10k 12k 18k 24k gold per gram but i cant find any price exept market troy once .... if anybody know a website or somewhere where i can find prices of scrap gold i would be very gratefull ..i have found some prices on website like "cashforgold" but i feel like its not a good reference..lol

again sorry my english is not perfect i try to do my best

 

[jimdoc]

Goldsmith,
This site will let you know how much pure gold is in your karat gold, and an up to date price. But that is just that, you will have to figure out what you can buy it and sell it for in your location.
http://dendritics.com/scales/metal-calc.asp

You can also look at sites like kitco's with what they are paying;
https://online.kitco.com/refining/


Jim

 

[Barren Realms 007]

thanks for the reply , i try to figure out if gold can be anyhow profitable and if i can make (not now sure i have a lot to learn) a living out of this ..by buying scrap refine it and sell .999 ...i have tried to find a price list of what i can expect to pay for 8k 10k 12k 18k 24k gold per gram but i cant find any price exept market troy once .... if anybody know a website or somewhere where i can find prices of scrap gold i would be very gratefull ..i have found some prices on website like "cashforgold" but i feel like its not a good reference..lol

again sorry my english is not perfect i try to do my best

You will have to make your own decision on how much of the spot price of gold you are wanting to pay to buy from your customers. Look in Craigs list and you can get an example of what people in your area might be giving.

 

[GoldSmith_]

thank you all for the reply

so..in theory
for exemple
1gramm 24k = 40$

if i buy 2 12k gramm 30$ +2$ refining =32$
i get 1gramm of 24k out of this
i make 8$ profit

simple
i will need some practice to figure out how much to pay and what the "scrap" in front of me can give me at the end of the refining but i think i understand much bether thanks for the link and thanks for your precious time
have a nice day