How To Adjust For Gold Purity And Calculate Gold Payout

Adjusting For Gold Impurities:

In this example. a merchant is willing to pay you 80% of spot price for your gold.  This is how to figure out what you can expect to receive per ounce of gold, based on the present spot price. We must adjust since most gold, unless stampted .999 is less than pure (lower karat weights). 

  • If  24kt (9999) gold, no reduction is necessary. Then, multiply spot price of weighed gold by 80%
  • If  22kt gold (916), multiply spot price of weighed gold by .916, then, multiply by 80%
  • If  21kt gold (875), multiply spot price of weighed gold by .875, then, multiply by 80%
  • If 18kt gold (750), multiply spot price of weighed gold by .750, then, multiply by 80%
  • If 16kt gold (dental gold), multiply spot price of weighed gold by .660, then, multiply by 80%
  • If 15kt gold (625), multiply spot price of weighed gold by .625, then, multiply by 80%
  • If 14kt gold (585), multiply spot price of weighed gold by .585, then, multiply by 80%
  • If 12kt gold (500), multiply spot price of weighed gold by .500, then, multiply by 80%
  • If 10kt gold (417), multiply spot price of weighed gold by .417, then, multiply by 80%
  • If  9kt gold (375), multiply spot price of weighed gold by .375, then, multiply by 80%
  • If  8kt gold (333), multiply spot price of weighed gold by .333, then, multiply by 80%

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