Nothing wrong with simple math as long as you remember that gold manufacturers have been known to fudge a little bit. At one time it was perfectly legal(& may still be) for gold to be as much as 1/2k off.
Quote: And you can bet that if it is off it is not on the higher side.
Hmmm... that sounds a LOT like my former bank. My checking account was ALWAYS off by $1-2 each month and ALWAYS in their favor. I've been with a local CU for the past 38 years and have yet to have ANY deviation from their account balance statement. Oh, I forgot... there WAS one time when they handed out a small dividend and I forgot to add that in.
The old standard, up until 1979, was based on the fact that 1800s equipment wasn't real accurate. K ratings were allowed to be +/- .5K, so 14K could be 13.5-14.5K
When technology improved, jewelers made sure sure you got the absolute minimum, pocketing the extra.
A new standard, called Plumb gold (usually indicated by 14KP) is only allowed .03K variance, almost 17 times less wiggle room. So 14KP must be 13.97-14.03K out of 24.
I purchased a ring at a yard sale years ago for 25 cent because it was marked 14kP. At the time we both thought it meant plated until I got online and realized it meant plumb
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