Figure out EXACTLY what your scrap gold is worth

  • Posted By: Low Country Coins
  • April 2nd, 2018

This is how YOU figure out what YOUR scrap gold is worth. I put this out here because there are A LOT of unethical companies and pawn shops out there. If you want to sell your scrap gold to us, we will work through this with you. First, let's learn about gold. Gold is measured by weight and PURITY. Weight is in grams, ounces, or pennyweight. My observations that the less than ethical companies use "penny weight" to skew your calculations making it look like they are paying you a lot, when they are paying you a little. The price of gold is ALWAYS referenced to Troy Ounces. This is different from a "regular" ounce. A regular ounce is 28 grams, a Troy ounce is 31.1 grams. Now that you understand grams and ounces, let's look at penny weight. What is a penny weight? Does that mean anything to you? Probably not. One troy ounce is 20 penny weight.