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You should remove all of the stones out of your scrap jewelry. Then, find the karat stamp on your scrap gold. Measure your scrap gold on a standard kitchen scale. Your kitchen scale will tell you how many ounces or grams your scrap gold weighs. You will then have to convert the ounces or grams into pennyweights, the gold industry measurement for gold transactions. 1 ½ grams is equal to one pennyweight and one ounce is equal to twenty pennyweights.

Once you have converted your own measurements into pennyweights, then you can go to the website How to Sell Gold for Cash and find out roughly how much your gold is worth. Remember that this is the price for 24 karat, or pure gold, and that your 10 karat gold will be worth 41.7 percent of the going price, 14 karat will be worth 58.3 percent and 18 karat worth 75 percent.