PITTSBURGH -- The price of gold continues to soar.

On Monday, gold hit a high of $1,033.9 an ounce.

With gold at that price, many Pittsburghers are trying to cash in.

Wendy Reiland of Shaler emptied out her jewelry box to see what she could collect on.

Many jewelers like Werner's in Ross Township are now buying scrap gold.

Tim Gasper, manager of Werner Jewelers, said he is buying everything from broken chains and old rings to earrings.

Even though gold is over $1,000 an ounce, don't expect to walk away with anything near that much.

That is the price for 24-carat pure gold.

Most jewelry is anywhere from 10 to 18 carats.

It's usually stamped on the clasp.

Fourteen-carat gold is only 58 percent pure . The rest are copper, zinc and silver alloys.

For example, a gold chain that weighs 7.4 penny weight would get about $74 . period

And where does the gold go?

Werner's sells it to a New York refinery where it's melted down again.

It's not just old chains and gold rings that people are turning in for cash.

Some people have even turned in gold teeth.

Wendy is anxious to see what she could walk away with.

Keep in mind, not all jewelers pay exactly the same per penny weight.