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Since ancient times the purity of gold has been defined by the term karat, which is 1/24 part of pure gold by weight. Pure gold is equivalent to 24K. Gold purity may also be described by its fineness, which is the amount of pure gold in parts per 1000. For example, a gold ring of 22 karats containing 916 fine gold has 916 parts (91.6%) gold and 84 parts (8.4 %) of other base metals.
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Fineness of Gold Karats
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24K
Percentage of Gold: 100%
Fineness: 999 / 995
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23K
Percentage of Gold: 95.8% Fineness: 958
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22K
Percentage of Gold:91.6% Fineness: 916
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18K
Percentage of Gold: 75% Fineness: 750
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14K Percentage of Gold: 58.33% Fineness: 583
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10K Percentage of Gold: 41.67% Fineness: 417
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9K Percentage of Gold: 37.50% Fineness: 375
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So Mr. Panzica's "10k solid gold" amounts to only 41% gold and 59% other base materials if I'm reading the chart correctly.
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