What is 14 milligrams (mg) of gold worth? I am considering purchasing some Buffalo tribute coins that are clad in 14 mgs of pure 24 kt. Gold and want to know what this gold is worth. – Thanks from Julie in Chicago, Illinois.

Hi Julie,

Gold is measured in troy ounces. When you see the daily price of gold, you are mostly likely seeing the price per troy ounce. This can be confusing when you are working with other units of measurement.

Here are some quick conversions to give you an idea about how much a troy ounce is in comparison to other units of measurement.

1 gram = 0.0321507466 troy ounces
1 milligram = 0.001 grams
1 milligram = 0.0000321507465686 troy ounces

14 milligrams = .0004494 troy ounces

Now that we have done the correct conversion, let’s talk money! Today (8-3-2011) the price of gold is at $1,637.50 USD per troy ounce.*

1 troy ounce of pure gold = $1,637.50 USD*
1 gram of pure gold = $52.65*
1 milligram of pure gold = $0.05*

14 milligrams of pure gold = $0.74*

As you can tell, 14 milligrams of gold is small. Plus these coins are clad (or covered) in gold and not made from solid gold, so it is not like we could even refine this small amout of gold from these tribute coins.

See more information on the Gold Buffalo Nickel Tribute Proof.

*Prices given reflect the price of gold when this blog post was written. Gold price may or may not be the actual current price of gold.

What is the value of the Gold Buffalo Nickel Proof by National Collector’s Mint? From Dan in St. Louis

In order to comment on your questions, we reviewed the company’s commercial on their website and uses some terminology that is confusing people.

Please read our translation of this TV advertisement. You have to “read between the lines” of the commercial and catch all of the important bits of information.

The bottom line is that these tribute gold buffalo coins that you see advertised on TV have no gold value. People wishing to invest in gold should not buy these coins. Think of them more like commemorative spoons or plates.

How much can i sell my 18 karat gold bracelet with the stamp 750 that weighs 52 grams for? Thanks! — From Cory in Seattle, WA

Hi Cory,

This is a great question to plug into our gold conversion calculator. This is because there are a few calculations that you have to do before knowing what your gold is worth.

You first have to convert the weight of gold jewelry into troy ounces without any other gems or stones. That is the unit of measurement used for precious metals.

Then you have to use the current price of gold and multiply it to how much actual gold you have. With your bracelet being 18 Karat, your piece is 74.88% gold. The stamp on your bracelet 750 indicates that it is 18 Karat gold that is about 75% pure gold.

Your 52 grams converts into 1.67183 troy ounces. According to our payout schedule we would offer you about 85% of the pure gold value. For larger lots we can sometimes offer over 90% of the gold value.

Note that the calculator provides an approximate value for the amount of fine (or pure) gold or in your item. It does not factor in intrinsic value that may apply to rare collectibles and coins or branded jewelry.

*Price of gold used in this calculation may not reflect the current price of gold as it changes daily.

Thanks for your question. Here are some other blog posts that might help you in finding the value of your gold bracelet.

• What Are My 14k Gold Wedding Rings Worth?

• What Is The Value Of 14k Gold Jewelry?

*Image displayed is only a representation of the items described in this blog post and may not be true images of the items in question.

We get asked this question constantly. And because no one can really predict where the prices of precious metals will go in the next month or even week, it is difficult to give a “yes” or “no” answer.

We can reflect on the history of gold and silver prices and say that back in April 2011 when gold hit $1,500 an ounce it was a BIG deal. And now that it has hit over $1,600 an ounce it is a BIG deal. Learn more about refining precious metals at www.ArchEnterprises.com.

From Daily Finance, here are 5 tips about selling gold:

1) Measure your gold against a penny. If you don’t know how much gold you have, measure its weight against the penny. Ten U.S. one-cent coins are equal to an ounce. An ounce of pure gold is currently worth about $1,600 USD.

* Note that the price of gold changes daily. The price listed above may not be the current price of gold.

2) Every gram adds up. A collection of small pendants, lockets, or pins made from 14-karat gold (58% gold mixed with other metal alloys) can add up. A gold tooth or small pin might be made from five to seven grams of gold.

*Remember to take out any gems or non precious items that may be able to be sold separately. These items have not refining value.

3) Know what the market is doing. Gold investing is serious business and there are many specialty gold products that act as investing tools.

*We recommend checking the spot price of gold.

4) What’s your emotional attachment? Wedding rings from long-divorced exes may be good to throw into the melting pot, but grandpa’s pocket watch probably has more value as a keepsake or sell it to a private buyer as an estate piece.

*Remember that when you sell items such as watches or jewelry to a refiner, you are only selling the gold. If you sell to a private buyer or estate sale you are selling the piece in its entirety (as a watch).

5) Keep the gold plate. Anything made with gold-plate or gold-fill isn’t worth much to a refinery. Keep the costume jewelry. Wear or sell the rest.

*CORRECT! We cannot offer returned on gold plated material.

Here are the prices of Gold, Silver and Platinum today (they are down just a bit from yesterday) July 20, 2011. Please check http://money.cnn.com/data/commodities/index.html for the CURRENT precious metal prices.

Question: How much are silver strike coins worth they say .999 pure silver on them and they weigh 1 oz each. They are from casinos in Las Vegas. – From Lou in New York.

Hi Lou,

Even though your silver strike coins weigh 1 ounce each, only the middle of them are actually silver which usually accounts for about 60% of the coin. As precious metal refiners we only give returns based on the amount of silver available in the coin. We usually payout 90% of the silver value back to you. Most often the outside of the coin is made from brass that we would recycle but the amount is so small that we do not offer a return on the brass.

We would recommend doing some research first, because many times silver strike coins from Las Vegas are collectible and sought after for more than their silver value. It really just depends on how rare the coin it is, from which casino and from what year.

It is important to note that coins that have experienced significant wear often have approximate a 1% drop in silver weight. Arch Enterprises can refine the silver from all types of silver coins.

*Image displayed is only a representation of the items described in this blog post and may not be true images of the items in question.