Gold Weight

As a follow-up to the last post, I wanted to explain about DWT. Jewelers measure gold (without gemstones) in several ways, Grains, Grams, Kilograms (kg), Aviordupois Ounce, Troy Ounce, Pennyweights (dwt), even in pounds. We use conversion factors for each. When you see the price of the gold market which changes frequently with the stock market, the price of the gold is per Troy Ounce. I usually weigh gold in grams then convert it to troy ounce. So for example someone brings in a ring with a weight of 3.36 grams, then I multiply it by the conversion factor of 0.03215 = .11 (troy ounce) then multiply it by the current gold market (example: $723) = $79.53
I'm always amazed when someone wants me to appraise an item for more than it's worth. I had a lady come in with a hollow 14k gold bangle bracelet that thought it should be appraised at more than $800. After weighing the item, explaining my mathematics, and showing her how my brand new bracelets sell for far less, she still left in a huff. Well you can't win them all.
So when we say "dwt"this is not gram, or troy ounce, it means pennyweight. Item #62280 on our site is 4.09 dwt. The conversion for dwt to grams is x 1.5551 so this item is 6.36 grams x .03215 (to troy ounce) = .20 x current gold market price (example: $723) = $144.60 Yes, I know this is selling for more than $1000, but don't forget about the diamonds, and also that it's not just a lump of raw gold.
So now that you know what dwt is, and you know that all settings have a dwt, COMPARE, COMPARE, COMPARE. When it comes to jewelry, bigger really is better.