Sunday, August 5, 2012

8/5/12 Report - Determining the Value of Gold Finds & Detecting Conditions

Written by the TreasureGuide for the exclusive use of

Gold Beach Find.  Wt. Given in Avoirdupois Ounces.
Here is a trick question that you might have heard.  
Which is heaviest, a pound of feathers or a pound of gold? 

I think most people would quickly say, a pound is a pound, so they are the same weight no matter what they are.

There is an important point behind that question though - a point that is important to anyone who wants to know the melt value of their gold.

In the US we measure the weight of most things, such as feathers, salt, sugar, etc. using the avoirdupois ounce.  Gold, however, is usually measured in troy ounces, as is silver.
If you weigh your item on a postal scale or kitchen scale or something like that, you'll come up with a weight, but when you sell your gold, the buyer will probably give you the weight in Troy ounces, which will be different.  That can cause confusion.

Here is how to convert from one to the other.

To convert Troy Ounces to Ounces Avoirdupois multiply by 1.09714.

To convert Ounces Avoirdupois to Troy Ounces multiply by 0.911458.

Same Ring With Weight Given in Troy Ounces.
You will also find converters online that will allow you to enter either Troy or Avoirdupois and have the weight converted to the other.

Also you will have to make adjustments depending upon the purity of the gold.  You will probably never find 24 karat gold.  You will commonly find 10, 14, and 18, and sometimes even 9 or 22 kt. gold.

18 kt gold is only 75% gold and 25% other metals, for example.

The ring shown in the photo has a melt value of roughly $1142, but would be worth considerably  more as collectible jewelry.

You should only sell gold for the melt value when it has no other value.

Gold from India and some oriental countries are often 22 kt. 

As I've recommended, it is good to have a test kit to determine the purity of items.

Treasure Coast Beach Detecting Conditions and Forecast.

Ernesto is well south of us and expected to cross over the Yucatan and then hit Mexico.  Florence looks like she will track north of us, but is still too far away to tell for certain.  She is also expected to weaken in a few days.

Beach detecting conditions remain poor.

The seas are a touch rougher today (2-3 ft.), as the wind is from the East.  The seas will back off the next couple of days.

Low tide Monday morning will be around 5:30 AM.

Happy hunting,