What is 10K Gold?
What is 416 Gold?
How 10K Gold is it Priced?
Where to Sell 10K Gold?
- 10K is the abbreviation for 10 Karat
- 416 gold is the same as 10K Gold
- Karat and Karet are different ways to spell the same word
- Karat with “K” is used for indicating gold fineness
- Carat with “C” is used for indicating diamond weight
10 Karat Gold (10K Gold – 416 Gold)
10K Gold and 416 are two Different Ways of Grading the Same Gold Alloy. This article explains this together with how gold is priced.
What is 10K Gold
10 Karat Gold is not Pure Gold. It is an alloy in which of every 24 karats mass, 10 karats are gold. The remaining are other materials. Most jewelry, industrial and medical grade gold items “are not pure gold” gold. They are alloys with high gold content. How much of the mass of the material is actually pure gold is called its “Fineness”. Thus 10K gold is 10K fine.
10 Carat Gold Fineness Calculations
The fineness of 10K gold can be expressed, based on karat (or karetege), percentage, or parts per one thousand (ppt). Here is the reasoning. In 10K gold, 10 karats are gold, 14 karats are not gold. Thus, from this fact we can derive the following:
- 10K Gold means that 10 parts out of 24 are pure gold and 14 parts out 24 parts are other materials
- Based on this fact, we can derive the 10 karat fineness expressed as percentage(%) and as parts per one thousand (ppt). This is how it works
- 10 karat divided by 24 karat equals 0.416 (10K / 24K = 0.416). If you multiply this by one hundred (100) you get 41.6. This means that 10 Karat (10K) gold is 41.6 percent gold, the rest other materials. Another way of expressing it is 10 karat gold is 41.6% fine, or has a fineness of 41.6%.
- 10 karat divided by 24 karat equals 0.416 (10K / 24K = 0.416). If you multiply this by one thousand (1000) you get 416. This means that 10 Karat (10K) gold is 416 parts per one thousand (1000) gold. The rest other material. Another way of expressing it is 10 karat gold is 416 parts per one thousand (ppt) fine, or has a fineness of 416.
416 gold is the same as 10 karat (10K) gold.
Grading based in part per one thousand (PPM) is typically used for jewelry destined for the European and Asian markets. Grading based on Karat (K) is typically used for jewelry destined for USA, Britain and Latin America.
Pricing 10K Gold
10K Gold is not pure gold. This means that unless it will be used in its present physical item form, it needs to be refined in order to go back to industry. That means that it needs to be “scrapped”. Scrapping means sending to melt and refine. Because of this, the price of 10K gold is calculated like this.
(International Price of Gold Times 0.416) Minus (Cost of Refining) Minus (Capital Cost) Minus (Dealer Profit) Equals Offered Price for 10K Gold.
Other than the fineness, all of this figure are somewhat variable. This means that the how much is offered will vary somewhat from dealer to dealer. Call each dealer and see how much they are offering. A reasonable dealer profit is between 20% and 30% depending on the size of the transaction. Larger transaction justify lower percentage profit.
- 10K and 416 are different ways to grade the same type of alloy.
- 10 karat (10K) means 10 part out of 24 parts are gold. The rest is other materials
- 416 means 416 parts per 1000 are gold. The rest other materials
- The price of 10K gold is based on the international price of gold, capital costs and dealer profit