Have you heard of a scrap gold pennyweight? Did a gold buyer quote you a price in pennyweights? What is a pennyweight? Why are some gold buyers using pennyweights to measure gold and silver?
Pennyweights come from the old English times. A pennyweight is the weight of an old English Penny, as shown above. Gold is measured in the Troy ounce system going back to the 1400’s in England. Precious metals are measured, quoted, bought, and sold in Troy ounces, or grams. There are 31.1 grams in a troy ounce.
There are only 20 pennyweights in a troy ounce. Quoting someone a price in pennyweights makes the price seem much higher than it is. A price of $21.50 a gram is the same as $33.32 in pennyweights. A scrap gold pennyweight is used by some gold buyers to mislead the public.
To convert pennyweight prices to grams divide by 155
To convert a gram price to a pennyweight multiply by 155
|GRAMS||PENNYWEIGHTS||10K Gold $12.00 to $15.00||10K Gold $18.60 to $23.25||14K Gold $18.00 to $21.00||14K Gold $27.90 to $32.55||18K Gold $23.00 to $28.00||18K Gold $35.65 to $43.40|
The prices above are based on a spot price of $1620.00 per ounce.
Gold buyers as a whole have a reputation similar to used car salesmen. If you were to take your gold and visit a half dozen gold buyers, you would feel like you were being high pressured by a used car salesman all day. For insight into their tricks see our Scam Gold Buyers article.
We weigh and buy in grams the industry standard measure.
We give you a fair appraisal to accept, or decline.
We never high pressure our customers.
Your business is confidential.
You may enter a stranger, but will leave as a friend.
The people we meet are most of the fun in our business.
We’ll test your gold, silver, and platinum as you watch. We’ll weigh it on a State Certified Scale, and give you an immediate appraisal of your item’s value.
If you need to sell gold jewelry, silver, platinum, coins, or any precious metals, stop by our store at any time.
Open Monday - Friday 10-5 & Saturday from 10-5.
Call 928-710-2137 for information.
We serve the communities of Prescott Valley, Chino Valley, Prescott, Camp Verde, Cottonwood, Surprise, Payson, Wickenburg, Cave Creek, Dewey, Humbolt, and the Villages of Oak Creek, Az. If you are in Prescott Valley, stop by Yavapai Coin to sell your gold, silver, or platinum.
Yavapai Coin and Jewelry
205 N Cortez
Prescott, Arizona 86301
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