Mike's Second Installment

Mike's Second Installment
Lets say long lost great Aunt Ophelia Butts passes away in East Tuckaway, Mass. She left the contents of her safety deposit box to her favorite niece, but she didn't want it so they gave it to you as they couldn't find anyone else who might be remotely related to her. It was in the safety deposit box so it must have been there for safe keeping, right? And thusly it must be valuable. You look at the baubles and it looks like it should go in the trash or donated to the homeless shelter for wayward prostitutes. Ah, but you read this almost worthless blog where some guy warned you to not take anything for granted and that a gift horse might be worth some effort. So you throw it all in a plastic grocery bag and head for the local jewery store where you and your intended bought your engagement ring. Voilla!! or Holy Cow! or Who would know! He tells you that it is worth a small fortune! The old bus will get fixed after all, or maybe you can buy a new one to replace it. Hallelujah! Aunty Ophelia, I love ya and I opologize for the negative thoughts I had about you or I would have had about you if I knew you existed. Now let's get serious here for a minute. Gold is $ 950/ oz. The jeweler listed each piece as to the gold content-10-14-or 18k. He listed the pcs with diamonds and other precious stones with the weights. Putting it on a postal scale that you had stored in the pantry to weigh portions of food for your diet, It weighes almost 2 lbs! At 950/oz that's $11,400/lb! WOW But that is not pure gold or the value of the diamonds or the value of the workmanship or troy wt. Find the value of the gold first. There are 12 oz to the lb troy. There are 20 dwts (pennyweights) to the oz. So 10 K is 10/24 or.416 pure, 14k is 14/24 or .585 pure and 18k is 18/24 or .750 pure gold. The weight of the piece X the carat pure X 950.00 divided by 20 gives you the alue of the gold. You take a ring that says it is 14k and weighs 4.5 dwts. The figures are .585 X 950=555.75 divided by 20 X 4.5=125 bucks. wow! tires! That's only one ring. How to get the most and face the scoundrels at the buyers lair next time. I know that you are on pins and needles.