Turning your finds into $$$$

[Ric-san]

Steve; I like the way you said that one of the three things you need 'a calculator' .... most people would be lost without one, as if 'how could we function nowadays without on'. Great info, I'm new to md'ing and didn in fact wonder how to do this...funny thing that while I was at Navarre Beach yesterday, the lone md'er that I bumped into has a business doing antiques/jewelery and he gave me his card. With this economy the way it is he said he was doing more business on line and such.

[EPC Guy]

Great info, Steve! Thanks for posting this!

[Cash1977]

Steve-
Thanks for the information. It was very helpful. Now I just need to find more gold and silver!!

Happy Hunting!!

[johnj45586]

Great post. I have been reading about the various kits and wondering how they might work.
Not sure how I am going to deal with my gold and silver yet. So far I have kept most in my treasure chest and sold a few items to friends without regard to true value.
Thanks very much for the info.

[ERnurse]

I just need to find something valuable enough to turn into some cash.

[Joker]

Thanks so much steve, thats some great and useful info.

[The TINMAN]

Thanks Steve for that Info. Learn something New Everyday !

[Classic II SL]

Steve, first I gotta show your quote "If gold is at $1000/ounce, divide 1000 by 28 (the number of grams in an ounce) and you get $35.71/gram net weight of 24 Karat gold

5.85 grams of gold x 35.71 = $208.90 " NOW, I gotta tell you that precious metals are measured in TROY OUNCES. There are 31.1 grams, in a troy ounce, NOT 28 !! So spot price of $1000 per oz divided by 31.1 grams = $32.15 per gram (for 24k pure gold), so YOUR EXAMPLE OF 5.85 grams x $32.15 = $188.07 now x the carat (in this case 14k = .583) = $109.64, the true value of 5.85 grams of 14k gold at $1000 per oz spot price. Always use TROY OUNCES, GRAMS , GRAINS, OR PENNYWEIGHTS, for precious metals. Rich.

[Steve in PR]

Thanks, Rich. I appreciate the info. I will correct the information in the post to reflect the correct measurement. I learn something every day!

[Riff]

I am (standing)applauding both Steve and Rich in the way they handled this. Two classy people. Just another reason why I am a member of TQ.

I want to say the weights and measure system is confusing and I have always endorsed the metric system.(as did Napolean)
The apothecary ounce is = to the troy ounce.
The avoirdupois ounce is not = to the troy ounce.
ergo apothecary ounce does not = the avoirdupois ounce. They are old systems of measurement that had specific uses.

Remember that infernal diddy they made us learn in math class?? If a=b and b=c ergo a=c. Very similar except I am using the negative.

Two attachments. It will help. If anyone wants a higher res attachment let me know. I can email a larger one for your reference.
If you notice, on one attachment it states that troy weight is used for weighing gold, siver and jewels.

Well with my luck this week I got everything above backwards.

Happy Hunting and no face lost,

Riff