Hi, Im considering buying a miniature gold model of an oil pump. It's marked 14K 4.60 dwt. What is the gold value? Thanks.
dwt is a pennyweight where 1 pennyweight = 1.55517 g. 14 K is 14/24X100 = 58% so you have a gold weight of 4.14 g
It's about 1" tall. It's a unique piece and the price was fair. I guess it's got about $200 in gold and $100 workmanship Should have bought it. Been buying folding cameras and antique stock certificates.