Dealer offering prices for scrap gold

I know this can vary from store to store. But if I have .29 troy oz of scrap 18k gold, what are prices I can expect to see from a dealer when selling? Thank in advance.

 

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$277.48. Hurry, that amount will change in a minute.

18 k is .75 gold.
Multiply your weight by .75 to get the amount of pure gold.
Multiply the spot price of gold by the amount you have.
Now you have the amount your gold is worth.
Be advised that a dealer will pay you less than spot because he must make some money on the deal, too.

 

Thanks. I was curious what percentage they would pay. My local dealer who is in walking distance offered me $220

 

My calculation was assuming that someone might pay you 80% of spot. You might get less than that.

 

Thanks. And thanks for adding that formula. I wasn't expecting full spot of course but wanted to see how close average dealers will offer to spot.

 

So would you say $220 is fair or too low?

 

It's not my gold.

 

It doesn't sound like enough money to split many hairs over. Remember spot prices is for 100 ounces of monetary form gold gold. Anything other form of gold or smaller amounts can expect less.

 

Thanks. It was a metal detector find, so I wasn't too worried about it. Was just trying to educate myself. The dealer is a pretty good guy. He's even willing to let me put a 2011 ASE Anniversary set on layaway and take 6 months to pay it off.