How much is 220 pounds of gold?

Answer 1

The dollar value of 220 pounds of gold varies from moment to moment, because the price of gold changes constantly, except during the weekend when the world markets close. At this moment, the quoted price of gold is $1253.20 per troy ounce. One troy ounce is equal to 1.09714286 regular ounces, and there are 14.5833333 troy ounces in a pound.

Thus, there are 3208.33326 troy ounces in 220 pounds of pure gold (14.5833333 x 220).

3208.33326 troy ounces times the current market value of $1253.20 per troy ounce equals $4,020,683.32 for 220 pounds of pure gold. By the time you read this answer, the price could change dramatically, but you will be able to do the new calculations.

However, to figure out the real current value of 220 pounds of gold, you would need to know its purity level. If it is in the form of jewelry, then it will probably be 10 or 14 karat gold.

Ten karat gold is 10/24 pure gold, or 41.7% pure. 220 pounds of 10 karat gold is currently worth $1,676,624.94 ( = $4,020,683.32 x .417).

Fourteen karat is 14/24 pure gold, or 58.3% pure. 220 pounds of 14 karat gold is currently worth $2,344,058.38 (= $4,020,683.32 x .583).

Eighteen karat is 18/24 pure gold, or 75% pure. 220 pounds of 18 karat gold is currently worth $3,015,512.49 (= $4,020,683.32 x .75).

Twenty-two karat gold, which is quite rare for jewelry, is 91.7% pure. 220 pounds of 22 karat gold is currently worth $3,686,966.60 ( = $4,020,683.32 x .917).

However, if the gold is in the form of bullion bars or coins (such as the American Gold Eagle or Canadian Gold Maple coin), then each piece will contain its full stamped weight in gold, plus a small amount of other metal to make the gold more durable. So, these bars or coins would contain together a full 220 pounds of gold, plus a little bit of other metals.

If the gold is in the form of non-bullion coins, then you would need to find out their purity level, and then multiply that by the current price of $4,020,683.32.

Additionally, gold jewelry sells for significantly more than the value of its gold content, due to the work and craftsmanship that goes into making it, so there may be additional artistic value associated with the gold, beyond its metal content. This is harder to assess, and would require an appraisal by a professional.

The price of gold changes constantly, so you may want to look it up here: http://www.coinnews.net/tools/live-silver-gold-platinum-spots/