GOLD
 
@ $280/oz. (which is roughly the current (11/26/01) financial trading price of 24kt. Gold)
14KT GOLD is valued at $8.17 / dwt. and
18KT GOLD is $10.50 / dwt.
Jewelry Dealers can sell (scrap) gold at 94% of these values (so can you if you look hard enough)
Estate jewelry is sometimes valued as a multiple of gold values where the really ugly stuff is valued at scrap less desired profit and the really beautiful can reach $200/dwt and beyond. You will see in our auction catalogs that most of the jewelry is valued very conservatively. This does not mean that it is the really ugly stuff...:) it just means that it is for sale.
For the skeptics: Please see below
Troy Weight System
Troy weight is a system of measurement for precious metals, precious stones etc. where a pound is equivalent to 12 ounces. The name "Troy" is derived from Troyes, France, the city where the system was first used.
1 oz troy = 480 grains
31.1035 grams
1.0971 ounces avoirdupois
20 pennyweights (dwt.)
0.08333 pounds troy
0.06857 pounds avoirdupois

chart describing the trends of U.S. gold production
Pure Gold (as above) is 24 Carats
A Carat Is 1/24th By Weight
Don't confuse the word "carat" as used for diamonds or other gemstones, when it is a unit of weight. A carat as applied to gold alloys means a proportion by weight of one part in twenty-four, or 41.66 parts per 1000. The higher the carat value, the higher the proportion of gold in relation to the base metal content. Pure gold is therefore 24 carat.

Percentage by Weight
The following table shows typical "recipes" for different common gold alloys.
Percentages by Weight
  Gold Silver Copper Zinc Nickel Palladium
9kt. Yellow Gold 37.5% 10 45 7.5 - -
9kt. White Gold 37.8% 0 40 10.4 11.8 -
14kt. Yellow Gold 58.5% 4 31.2 6.3 - -
14kt. White Gold 58.5% 0.5 27 7 7 -
18kt. Yellow Gold 75% 16 9 - - -
18kt. White Gold 75% 4 4 - - 17
22kt. Yellow Gold 91.7% 5.5 2.8 - - -
24kt. Gold 100% - - - - -