How Much Are Gold Crowns Worth & How to Sell Them
Uncover the true worth of your gold dental crowns. Learn how to accurately assess their value and navigate the selling process with confidence.
Gold crowns, once common dental restorations, hold monetary value primarily from their precious metal content. For individuals who have replaced old dental work, these crowns represent a potential source of value. This guide explores the factors influencing the worth of gold crowns and outlines a practical process for their sale.
Key Factors Influencing Gold Crown Value
The monetary worth of a gold crown is primarily based on its precious metal content, specifically the amount of gold it contains. Gold purity, the crown’s weight, and the prevailing market price of gold contribute to this valuation.
Gold purity, measured in karats, indicates the proportion of pure gold within an alloy. Pure gold is 24 karat (24K), but dental gold is rarely this pure because 24K gold is too soft for the pressures of chewing. Dental crowns typically use gold alloys ranging from 10 to 22 karats, with 16K to 18K being common. A 10-karat alloy contains approximately 41.7% pure gold, while an 18-karat alloy has about 75% pure gold.
The weight of the gold crown also directly influences its worth. Gold is typically weighed in grams or troy ounces, with one troy ounce equaling approximately 31.1 grams. An average full gold crown can weigh between 2 to 3.5 grams. The total weight of the crown may include other metals or porcelain, which do not contribute to the gold’s value and should be accounted for separately.
The current market price of gold, often referred to as the spot price, is another significant determinant. This price fluctuates daily based on global market conditions and is a per-ounce or per-gram value for pure gold. Various financial news sources and websites dedicated to tracking precious metals provide this information.
Gold crowns are alloys, meaning they contain a mixture of gold and other metals. These additional metals can include silver, palladium, platinum, copper, zinc, chromium, or nickel. While some of these, like platinum or palladium, also have value, the primary financial worth of a dental crown comes from its gold content. The specific composition of these alloys can vary, influencing the overall melt value.
Determining the Value of a Gold Crown
Estimating the value of a gold crown involves a few practical steps to assess its gold content accurately. This preparatory process helps in understanding the potential worth before engaging with buyers. Identifying the gold’s purity and accurately weighing the crown are foundational to this calculation.
Identifying the specific purity of a gold crown can be challenging, as dental crowns often do not have visible hallmarks indicating their karat. While some may have small stamps, older or worn crowns might not display them clearly. Consulting the dentist who placed the crown or checking associated dental paperwork might provide some information, but precise composition often requires professional assessment.
Accurately weighing the crown is a crucial step. For a precise measurement, using a digital scale that can measure in grams is advisable. Jewelers or dental refiners can also provide accurate weighing services. Any non-gold components, such as porcelain, should ideally be removed or accounted for before weighing, as their weight will inflate the perceived gold content.
Once the estimated purity and weight are known, the approximate value can be calculated using the current spot price of gold. A common formula for this is: (Weight in grams Karat purity percentage / 24) (Current spot price per gram). For example, if a 3-gram crown is 16K gold (66.7% pure gold) and the spot price of gold is $70 per gram, the calculation would be (3 grams 0.667) $70, which equals approximately $140.07. This calculation provides a theoretical melt value, representing the worth of the pure gold content.
For the most accurate valuation, especially before selling, seeking a professional appraisal or assessment from a reputable jeweler or dental refiner is recommended. These professionals have specialized equipment to test the precise gold content through methods like X-ray fluorescence (XRF) or by conducting a metallurgical assay after melting. This professional evaluation provides a definitive assessment of the crown’s precious metal composition, ensuring a more informed selling decision.
Process for Selling Gold Crowns
After determining the estimated value of your gold crowns, the next step involves navigating the selling process. This requires understanding where to sell, what to expect during the transaction, and how to ensure a fair deal.
Various options exist for selling gold crowns. Reputable gold refiners often offer the most competitive prices because they process the metal directly. Jewelers and online gold buyers are also viable options, offering convenience, while pawn shops typically provide quicker cash but at a lower percentage of the melt value. Researching and selecting a buyer with a strong reputation for transparency and fair dealings is important.
The selling process typically involves sending the crown to an online buyer or presenting it in person to a local establishment. Online buyers often provide free, insured shipping kits. Upon receipt, the buyer will assess the crown’s weight and purity to formulate an offer. For in-person transactions, the assessment and offer are usually made on the spot. Once an offer is accepted, payment is issued.
Buyers typically offer a percentage of the gold’s melt value, not the full spot price. This percentage, which can range from 40% to 70% or even up to 98.5% with some refiners, covers the buyer’s processing costs, refining expenses, and profit margin. Buyers may deduct fees for testing, refining, or administrative costs. Always inquire about all potential fees and the exact payout percentage upfront.
To ensure a fair sale, obtaining multiple quotes from different buyers is recommended. Compare these offers to identify the most favorable terms. During the transaction, observe the weighing and testing process to ensure transparency. If the profit from selling your gold crown is significant, it may be subject to capital gains tax. The Internal Revenue Service (IRS) classifies physical gold as a collectible, meaning long-term capital gains (assets held for over a year) can be taxed at a maximum rate of 28%. Short-term gains (assets held for one year or less) are taxed at ordinary income rates.