LemonTrades
Your gold is worth its weight, times its purity, times today’s gold price. That’s its melt value, and it’s the number every buyer starts from. Here’s how to work it out in two minutes.
1. Weigh it
Use a digital scale that reads to 0.1 gram or better; a kitchen scale is too rough for small pieces. Gold is priced in grams or troy ounces (31.1 grams). Some buyers quote in pennyweight (dwt), which is 1.555 grams. Weigh chains and earrings without stones if you can, or ask the buyer to subtract them.
2. Find the karat
Look for a tiny stamp on the clasp, the inside of a ring or the back of a pendant:
- 10K or 417 is 41.7% gold. 14K or 585 is 58.3%. 18K or 750 is 75%. 22K or 916 is 91.7%. 24K or 999 is pure gold.
- GP, GEP, HGE or RGP mean gold plated: a thin layer of gold over another metal, worth very little as gold.
- GF means gold filled: more gold than plating, but still mostly other metal.
- No stamp? A jeweler or gold buyer can test it with acid or an X-ray (XRF) machine in minutes, usually for free.
3. Multiply by today’s price
Weight in grams × gold content × the price per gram of pure gold. For example, a 10-gram 14K chain: 10 × 0.583 × the 24K price per gram above. The calculator does this for you, with the live price.
What buyers will actually pay
Melt value is the ceiling for most gold, not the offer. Buyers need a margin, and jewelry has to be refined. Roughly:
- Bullion coins and bars sell for close to spot, because dealers can resell them as they are.
- Scrap and jewelry to a reputable gold buyer or refiner: often 70–90% of melt value.
- Pawn shops and mail-in “cash for gold” offers usually pay the least.
Some pieces are worth more than their gold: designer brands, antiques, signed pieces and good gemstones. Get those valued as jewelry before you sell them for melt.
How to get the best offer
- Work out the melt value first, so you can judge every offer.
- Sort your pieces by karat, so a buyer can’t price everything at the lowest one.
- Get quotes from two or three buyers, and ask for their price per gram for each karat.
- Watch them weigh it, in grams, on a certified scale.
- Sell when you’re ready, not under pressure. The gold price moves every day, but a bad offer costs more than a small move.
Selling coins or bars? See how to sell bullion for the best price. Wondering why the price moved this week? Read why gold goes up and why it drops.
Education, not financial advice. Offers vary by buyer, and melt value is an estimate based on the spot price. See our disclaimer.
