So skipping the obvious - number of grams of gold... it's still only worth what someone will pay... One oz of gold is 31.1034768 grams, or one gram is .311034768 hundreths of one oz.... Now lets assume your ring is 22K - of your 4.7 grams, 3.8194 grams are gold ~ or 1.1879661928992 hundreths of oz ...