Short answer: to get the best price for gold jewelry, first work out its melt value: weight in grams × today's price per gram for its karat. Then get at least three written offers and compare each one as a percentage of that melt value. Reputable buyers of scrap gold commonly pay somewhere around two-thirds to nine-tenths of melt value, depending on the buyer type and the amount; Kiplinger's guidance, for instance, suggests looking for a buyer who will pay roughly 65% to 88% of the value. Separate items by karat, keep pieces with brand, design or gemstone value out of the scrap pile, insist on weighing and testing in front of you, and never accept an offer from a buyer who will not explain how it was calculated.
This guide walks through each step in detail. You will learn how to identify and weigh your gold, how to calculate melt value in any currency, how different buyers price gold, which items are worth more than their metal, how to spot common tricks and scams, and what tax may apply when you sell in the United States, the United Kingdom, Canada or Australia. You can calculate your item's gold value while you read using our gold calculator, and check live prices per gram for each karat on the gold price today page.
Step 1: Decide what kind of value your jewelry has
Before thinking about melt value, ask whether the piece is worth more as jewelry than as metal. Selling a valuable piece for scrap can mean giving away far more than the gold is worth.
Items usually worth more than melt value
- Designer and branded jewelry. Pieces from well-known houses can sell on the resale market for well above their gold content, especially with original boxes and papers.
- Antique and vintage pieces. Period jewelry, unusual craftsmanship and pieces with provenance can attract collectors.
- Jewelry with significant gemstones. Diamonds and other stones are usually paid for separately, or not at all, by scrap buyers. A certified diamond may be worth far more than the gold around it.
- Collectible coins. Rare or numismatic coins can be worth much more than their gold content.
- Watches. Gold watches from recognized makers are generally valued as watches, not as metal.
For these items, consider an independent appraisal, a specialist dealer, an auction house or a reputable consignment service before choosing scrap.
Items usually sold for melt value
- Broken chains, single earrings and damaged pieces.
- Plain bands and generic chains without brand value.
- Dated or unwanted pieces with no special design or maker.
- Dental gold, which is usually a gold alloy and valued on its precious metal content.
These are the items for which the rest of this guide matters most.
Step 2: Identify the karat of each piece
Most gold jewelry is stamped with its karat or fineness, usually on the inside of a ring, near a clasp, or on an earring post. A magnifying glass or your phone's camera zoom helps. The table below translates the most common marks.
| Stamp | Karat | Gold content |
|---|---|---|
| 375 | 9K | 37.5% |
| 417 or 10K | 10K | 41.7% |
| 585 or 14K | 14K | 58.5% |
| 750 or 18K | 18K | 75.0% |
| 875 or 21K | 21K | 87.5% |
| 916 or 22K | 22K | 91.6% |
| 999 or 24K | 24K | 99.9% |
Watch for marks that indicate the piece is not solid gold: "GF" (gold filled), "GP" or "GEP" (gold plated or gold electroplate), "HGE" (heavy gold electroplate), "RGP" (rolled gold plate) and "vermeil." These items contain very little gold and are worth little as scrap. Our guide to 14K vs 18K vs 22K vs 24K gold explains the marks and alloys in more depth.
If a piece has no stamp, it may still be gold, but a buyer will need to test it. Unmarked items are also where disputes most often arise, so be especially careful to watch the testing.
Step 3: Sort and weigh your gold
Separate your items into piles by karat. This matters because gold of different karats has very different values per gram. If a buyer weighs everything together, you risk being paid as though all of it were the lowest karat in the pile.
Weigh each pile in grams. A digital kitchen scale that reads to 1 gram is enough for a rough estimate; a jewelry scale that reads to 0.01 grams is better for small items and inexpensive to buy. Remove stones if you can, or estimate and subtract their weight, since stones do not count as gold. Clasps on some chains are made of a different metal; if a clasp is marked differently, weigh it separately.
Some buyers quote prices per pennyweight (dwt), an old unit still used in the US jewelry trade. One pennyweight equals about 1.555 grams, and there are 20 pennyweights in a troy ounce. If you are quoted a price per pennyweight, convert it to grams before comparing.
Step 4: Calculate the melt value
Melt value is the value of the pure gold contained in your jewelry at today's price. The calculation takes seconds.
- Find the current spot price of gold per troy ounce in your currency.
- Divide by 31.1035 to get the price per gram of pure gold.
- Multiply by the gold content of the karat (for example, 0.585 for 14K).
- Multiply by the weight in grams.
For example, with spot gold at $4,150 per troy ounce, a gram of pure gold is worth about $133.43. A 15-gram pile of 14K jewelry therefore contains about 15 × $133.43 × 0.585 = $1,171 of gold. A 10-gram pile of 18K contains about 10 × $133.43 × 0.75 = $1,001.
The gold calculator does this automatically for any weight, karat and currency, and the gold price page shows today's value per gram for each karat. Write down the melt value for each pile before you contact any buyer.
Melt value in pounds, Canadian and Australian dollars
If you sell outside the United States, work in your own currency. The simplest method is to use the spot price in your currency directly; our gold price page lets you switch currencies. As an illustration, if one US dollar is worth 0.79 pounds, 1.41 Canadian dollars and 1.53 Australian dollars, the value per gram of gold at a $4,150 spot price works out roughly as follows.
| Karat | USD per gram | GBP per gram | CAD per gram | AUD per gram |
|---|---|---|---|---|
| 9K | $50.03 | £39.53 | C$70.55 | A$76.56 |
| 14K | $78.05 | £61.66 | C$110.06 | A$119.42 |
| 18K | $100.07 | £79.05 | C$141.10 | A$153.11 |
| 22K | $122.22 | £96.55 | C$172.33 | A$186.99 |
These figures use the fineness conventions shown earlier (for example 0.585 for 14K and 0.916 for 22K) and illustrative exchange rates. Always recalculate with live prices on the day you sell.
How buyers test gold, and what to watch
Every reputable buyer tests gold before paying for it. Knowing the common methods helps you understand the results and spot anything unusual.
Acid and touchstone test
The buyer rubs the item on a dark stone to leave a small streak of metal, then applies acids formulated for different karats. If the streak dissolves under a given acid, the metal is below that karat. It is quick and cheap, and it leaves only a tiny mark, usually in an inconspicuous spot. It relies on the tester's skill, and it tests only the surface, so heavily plated items can mislead it.
Electronic testers
Handheld electronic testers estimate karat by measuring electrical properties when a probe touches the metal, often with a special gel. They are fast and do not mark the item, but readings can be affected by plating, dirt and the tester's calibration.
X-ray fluorescence (XRF)
XRF analyzers bombard the surface with X-rays and read the elements present, giving a detailed breakdown of gold, silver, copper and other metals in seconds without damaging the item. Many serious buyers and refiners use XRF. Like other surface methods, it can be misled by thick plating over base metal, which is why buyers sometimes file a small notch to check beneath the surface on suspicious items.
Fire assay
Refiners use fire assay, a destructive laboratory method, to determine exact gold content after melting. Mail-in buyers may base their final offer on a melt and assay of your items. Ask whether that is the case, and whether you can get your items back if you do not accept the offer; once items are melted, they cannot be returned in their original form.
If you disagree with a result
If a buyer says an item marked 14K tests lower, ask to see the test and the reading. Stamps can occasionally be wrong, particularly on imported or older items, but a buyer who routinely "downgrades" marked items without showing the evidence is a red flag. You can always take the item elsewhere for a second test.
Step 5: Understand how buyers price gold
No buyer will pay 100% of melt value. Buyers need to cover testing, refining, shipping, overheads and profit, and they carry the risk that the gold price falls before they sell. The question is how much of the melt value you receive.
Typical buyer types
| Buyer type | How they work | Payout pattern | Things to watch |
|---|---|---|---|
| Online and mail-in refiners | You ship items; they test and send an offer or payment. | Often among the higher payouts for scrap, especially for larger amounts. | Shipping risk, insurance limits, turnaround time, and whether they return items if you reject the offer. |
| Local gold buyers and bullion dealers | Test and weigh in person, often pay immediately. | Varies widely; competitive dealers can be close to online refiners. | Ask for the percentage of melt value they pay and the spot price they used. |
| Jewelers | May buy scrap or offer store credit. | Often moderate; store credit may be higher than cash. | Some jewelers value pieces for resale, which can help for good-quality items. |
| Pawn shops | Buy outright or lend against your gold. | Often lower, because they need a margin for resale and risk. | Loans carry interest and fees; outright sale offers are negotiable. |
| "Cash for gold" events and kiosks | Temporary buyers at hotels, malls or events. | Frequently among the lowest. | Pressure tactics, unclear testing and limited recourse if something goes wrong. |
Published guidance and industry comparisons put fair payouts for scrap gold roughly in the range of two-thirds to about nine-tenths of melt value, with the best rates usually reserved for larger quantities and higher karats. The exact figures vary by buyer, country and market conditions, so treat any range as a starting point and let competing written offers tell you what is fair on the day you sell.
How to compare offers
Convert every offer into a percentage of your melt value. If your 14K pile is worth $1,171 in gold and one buyer offers $820 while another offers $990, the first is paying about 70% and the second about 85%. That comparison is only fair if both buyers weigh and test the same items, so keep your piles separated and note the weight each buyer records.
Also ask each buyer which spot price they used. A buyer can make an offer look like a high percentage by quoting it against an out-of-date or unusually low spot price. Check the live price on our gold price page at the same moment.
Step 6: Get offers the right way
In person
- Stay with your jewelry. Testing and weighing should happen in front of you. If a buyer wants to take items to a back room, decline.
- Check the scale. The scale should be visible, zeroed before weighing and, in many places, certified for trade use. Ask to see the reading in grams.
- Watch the test. Acid tests, electronic testers and X-ray fluorescence (XRF) analyzers are all common. Ask which method they use and what result it gave for each piece.
- Get the offer in writing. It should list the weight and karat of each item and the price per gram or percentage of melt value.
- Do not feel pressured. A fair offer will still be fair tomorrow, adjusted for any change in the gold price.
By mail
- Research the company. Look for independent reviews, a physical address and clear terms. Search the company name with words such as "complaint" and "review."
- Read the terms before sending. Check how offers are calculated, whether there are assay or processing fees, how long you have to accept or reject, and whether return shipping is free if you decline.
- Photograph and weigh everything. Keep photos and weights of each item before you ship.
- Insure the package. Check how much the buyer's shipping insurance covers and whether you need extra cover for valuable shipments.
- Do not cash a check automatically. Some services send payment with the offer; cashing the check may count as acceptance. Compare it with your melt value first.
Step 7: Negotiate and choose
Once you have written offers, you are in a strong position. Tell buyers what the best competing offer is, expressed as a percentage of melt value, and ask whether they can match it. Many will, especially for larger amounts. If one buyer pays well for high karat items and another for low karat items, you can split your sale between them.
Timing can matter too. Gold prices move daily, and you can see whether gold is rising or falling today on our market movers page. Trying to pick the perfect day rarely works, but it makes sense to avoid selling in a rush on a day when prices have just dropped sharply, if you have a choice.
Should you sell now, or hold on?
High gold prices naturally make people look at their jewelry boxes. Gold reached record highs in 2026, and even after pulling back from those peaks it remained far above the levels of a few years earlier. That makes this a better time to sell than most, but it is not automatically the right time for everyone.
Ask yourself a few questions before you decide:
- Do you need the money, or do you simply know the price is high? If you have a clear use for the cash, such as paying down expensive debt, a strong gold price is a good opportunity. If not, there may be no urgency.
- Does the piece have sentimental value? Melted gold cannot be un-melted. Many people regret selling family pieces for their metal value. Consider keeping one meaningful item even if you sell the rest.
- Would you rather hold gold as an asset? If you want to keep exposure to gold but do not wear the jewelry, you could sell it and buy bullion, which is easier to store, value and resell. The costs of selling jewelry and buying bullion would need to be weighed against that benefit.
- Can you tolerate price swings? Gold can fall as well as rise. Nobody can reliably predict whether prices will be higher or lower in a year. If you would be upset to see prices climb after you sell, consider selling in stages rather than all at once.
Selling in stages is a simple way to reduce regret. You might sell your lowest-value, broken or unwanted pieces now, keep the rest, and review again later. You can follow how gold is moving day to day on our market movers page.
Selling inherited jewelry
Many people sell gold after a family member dies. Inherited jewelry raises a few extra considerations.
Check whether it belongs to the estate
Until an estate has been administered, jewelry may legally belong to the estate rather than to any individual family member. Selling it before the executor or administrator has authority, or before beneficiaries have agreed, can cause family disputes and legal problems. If in doubt, speak to the executor or a solicitor or lawyer handling the estate.
Get a valuation first
For tax and fairness reasons, it helps to know what the jewelry was worth at the date of death. In the United States, the cost basis of inherited property is generally its fair market value at the date of death, which affects any gain on a later sale. In the UK, jewelry forms part of the estate for inheritance tax purposes, and a professional valuation may be needed. A written valuation from a qualified appraiser, separating gold value from design and gemstone value, protects everyone involved.
Share information with the family
Where several relatives share an inheritance, being transparent about weights, melt values and offers avoids misunderstandings. A simple spreadsheet listing each item, its karat, weight, melt value and the offers received makes decisions easier and fairer.
Look for hidden value
Older jewelry sometimes includes pieces from well-known makers, antique designs or stones that are worth far more than the gold. Before sending an inherited collection for scrap, have someone knowledgeable look through it. It costs little and can prevent a costly mistake.
Buyer licensing and consumer protection by country
The rules governing gold buyers vary, and knowing what protection you have helps you choose where to sell.
United States
Many states and cities require precious metal buyers, secondhand dealers and pawnbrokers to be licensed, to record sellers' identification and item descriptions, and sometimes to hold items for a set period before melting or reselling them, mainly to help police trace stolen goods. The details vary widely by location. The Federal Trade Commission and state attorneys general handle complaints about deceptive practices, and consumer advice from the FTC applies nationwide.
United Kingdom
Gold buyers must comply with general consumer protection law, including rules against misleading and aggressive commercial practices, which Trading Standards enforce. Businesses that accept large cash payments may also be subject to anti-money-laundering supervision. Choose buyers with clear written terms and a physical presence, and keep all paperwork.
Canada
Secondhand dealers and pawnbrokers are generally regulated at the provincial and municipal level, often with licensing and record-keeping requirements. Provincial consumer protection offices can help with complaints about unfair practices.
Australia
Pawnbrokers and secondhand dealers are licensed and regulated by each state and territory, with requirements such as recording sellers' identity and holding goods for a period. The Australian Consumer Law prohibits misleading and deceptive conduct, and state fair trading agencies handle complaints.
Across all four countries, the practical lesson is the same: prefer established, licensed buyers, expect to show identification, and keep a written record of what you sold and what you were paid.
Alternatives to selling for scrap
Selling for melt value is not the only way to unlock the value of unwanted gold.
- Redesign. A jeweler can often melt or reuse your old gold toward a new piece, charging for labor and any extra metal. This keeps the value in a form you will actually wear, and can carry sentimental meaning.
- Trade-in credit. Some jewelers offer more in store credit than in cash for old gold. If you were planning to buy jewelry anyway, compare the credit offered with the best cash offer.
- Resale as jewelry. Good-quality pieces in wearable condition may sell for more than melt value through consignment, specialist resale platforms or private sale, at the cost of more time and effort.
- Pawn loans. A pawnbroker can lend you money against your gold and return it when you repay. This avoids losing the item permanently, but loans carry interest and fees, and you lose the item if you do not repay. Compare the total cost carefully with other borrowing options.
- Keeping it. If you do not need the money, simply storing and insuring the jewelry keeps your options open.
What happens to your gold after you sell it
Scrap jewelry is usually sent to a refiner, where it is melted, assayed to determine its exact gold content, and refined into high-purity gold. That refined gold re-enters the market as bars, grain or new jewelry alloy. Recycling supplies a meaningful share of the world's gold each year, and it tends to rise when prices are high, as more people sell old jewelry.
Understanding this process explains why buyers pay less than melt value. Refining costs money, assay results can differ slightly from surface tests, and the buyer carries price risk until the metal is refined and sold. A buyer who pays a high percentage of melt value is usually one with efficient refining arrangements and enough volume to accept a thin margin.
Common tricks and how to avoid them
Mixing karats
Weighing all your gold together and paying the 10K rate is one of the most common ways sellers lose money. Always separate by karat and ask for each pile to be weighed and priced separately.
Using the wrong unit
Quoting in pennyweights or troy ounces while you think in grams can make an offer look better than it is. Ask for everything in grams and do the math yourself.
Stale or low spot prices
An offer based on yesterday's lower price, or on a "buy price" far below the market, reduces your payout. Check the live price when you receive the offer.
Stones ignored or kept
Scrap buyers often pay nothing for small stones. That is normal for tiny accent stones, but valuable stones should be removed and valued separately, or the piece sold as jewelry. Make sure you get back any stones you do not intend to sell.
Hidden fees
Some mail-in buyers deduct assay, processing or return-shipping fees. Include all fees when you compare offers.
High-pressure events
Temporary "gold parties" and traveling buyers sometimes rely on urgency. Take time to compare, and remember that you can walk away.
Impersonation scams
Separately from selling jewelry, be aware of scams in which criminals pose as government officials or bank staff and ask people to buy gold and hand it over for "safekeeping." The FTC has warned that real government agents will never ask you to buy gold bars or hand over gold. If anyone asks, stop and contact the agency directly using a number you look up yourself.
Tax when you sell gold jewelry
Selling gold at a profit can create a tax obligation in some countries. The rules below are general summaries; check official guidance or a tax professional for your situation.
United States
The IRS generally treats gold, including jewelry and bullion, as a collectible. Long-term gains on collectibles are taxed at a maximum federal rate of 28%, higher than the usual long-term capital gains rates. Jewelry held for personal use is personal-use property, so a loss on selling it is generally not deductible. For many people selling inherited or long-held jewelry, the key question is the cost basis; for inherited property, basis is generally the fair market value at the date of death. Keep records of what you paid or inherited and what you received.
United Kingdom
Jewelry is a "chattel" for capital gains tax purposes. Under HMRC's chattels rules, gains on a chattel sold for £6,000 or less are generally exempt, and special rules apply to items that form a set. Above £6,000, marginal relief can limit the taxable gain. Most individual sales of scrap jewelry fall below the threshold, but larger sales and collections should be checked against HMRC's guidance.
Canada
The Canada Revenue Agency treats jewelry as listed personal property, a category of personal-use property. Under the personal-use property rules, the cost and proceeds of an item are each deemed to be at least $1,000, which means small sales usually produce no taxable gain. Gains on listed personal property above that level are taxable, and losses can only be used against gains on listed personal property.
Australia
The Australian Taxation Office treats jewelry as a collectable for capital gains tax purposes. According to the ATO, a collectable is generally exempt if you acquired it for $500 or less, with special rules for items usually sold as a set. Capital losses on collectables can only be offset against capital gains on collectables.
Reporting by buyers
Separately from your own tax obligations, gold buyers in many countries must keep records, verify identity and, in some cases, report transactions under anti-money-laundering or secondhand dealer rules. Expect to show photo identification when you sell.
Selling other forms of gold
Gold coins and bars
Bullion coins and bars are usually easier to sell than jewelry and often attract a higher percentage of spot, because their purity and weight are standardized. Bullion dealers publish buy-back prices, and well-known coins and bars from recognized mints and refiners are the easiest to sell. Keep original packaging and certificates where possible.
Dental gold
Dental crowns and bridges are typically made of gold alloys that may also contain platinum-group metals. Specialist refiners buy dental gold and can test its content. Remove any attached tooth material and non-metal parts before weighing.
Gold-filled and plated items
Gold-filled items contain a thin layer of gold bonded to base metal. Some refiners buy them, but payouts are low because the gold content is small. Plated items are usually not worth selling for their gold.
Mixed precious metals
If you have silver, platinum or palladium jewelry as well, keep those separate too. Many gold buyers also buy other precious metals. You can check silver prices on our silver price page.
Worked example: selling a jewelry box
Imagine a seller with a small box of unwanted jewelry. After sorting and weighing, they have 12 grams of 10K, 18 grams of 14K and 6 grams of 18K, plus one branded 18K bracelet.
With spot gold at $4,150, their melt values are roughly:
- 10K: 12 × $133.43 × 0.417 = $668
- 14K: 18 × $133.43 × 0.585 = $1,405
- 18K: 6 × $133.43 × 0.750 = $600
Total melt value for the scrap is about $2,673. They set aside the branded bracelet to get a resale valuation.
They collect three offers. A pawn shop offers $1,700 for everything weighed together, about 64%. A local gold buyer offers $2,150 after weighing each karat separately, about 80%. An online refiner offers $2,300, about 86%, after testing, with free return shipping if the offer is rejected. The seller asks the local buyer to match; the buyer offers $2,280 paid immediately. The seller accepts the local offer to avoid shipping risk.
The difference between the lowest and highest offer on the same jewelry is almost $600, a difference created entirely by sorting, calculating melt value and asking.
Checklist before you sell
| Step | Done? |
|---|---|
| Set aside branded, antique and gemstone pieces for separate valuation | ☐ |
| Identify the karat of each item and separate into piles | ☐ |
| Weigh each pile in grams and photograph everything | ☐ |
| Calculate melt value with today's price | ☐ |
| Get at least three written offers | ☐ |
| Convert each offer to a percentage of melt value | ☐ |
| Confirm fees, spot price used and payment method | ☐ |
| Keep receipts and records for tax purposes | ☐ |
Frequently asked questions
How much will I get for my gold jewelry?
Calculate the melt value first (weight × price per gram for the karat). Reputable scrap buyers typically pay a share of that value, commonly somewhere between about two-thirds and nine-tenths depending on the buyer and amount. Compare written offers as a percentage of melt value.
Is it better to sell gold to a jeweler or a pawn shop?
It depends on the offer, but pawn shops often pay less because they need a larger margin. Jewelers may offer better prices or store credit, and specialist gold buyers and refiners often pay more for scrap. Get several offers.
Should I remove stones before selling gold?
Yes, if they have value. Scrap buyers usually pay little or nothing for stones, and valuable stones can be sold separately. Tiny accent stones are often not worth removing.
What does "melt value" mean?
It is the value of the pure gold contained in an item at today's spot price, before any buyer's margin, fees or design value.
Do I need ID to sell gold?
In many countries, yes. Gold buyers are often required to verify identity and keep records under secondhand dealer and anti-money-laundering rules.
Is mail-in gold selling safe?
It can be, with reputable companies. Check reviews, read the terms, photograph and weigh items, insure the package, and confirm you can get your items back free if you reject the offer.
Can I sell gold that is broken or tangled?
Yes. Scrap buyers value gold by weight and purity, so broken chains, single earrings and bent rings are worth the same per gram as intact pieces of the same karat. You do not need to repair or untangle them, although separating them by karat is still important.
Should I clean my jewelry before selling it?
For scrap, cleaning makes no difference to the gold content. For pieces you hope to sell as jewelry, a gentle clean with warm soapy water can improve how they look to a buyer. Avoid harsh chemicals and never polish antique pieces aggressively, as that can reduce their value.
Is it worth selling a small amount of gold?
It can be, but fixed costs matter more on small sales. Some mail-in buyers charge processing or return fees, and some local buyers pay a lower percentage on small lots. For a few grams, a local buyer who pays on the spot with no fees is often the simplest choice; for larger amounts, compare more widely.
How long does it take to get paid?
Local buyers usually pay on the spot by cash, check or bank transfer, subject to identity checks. Mail-in buyers typically take several days to a couple of weeks, including shipping, testing and sending the offer. Ask about timing before you commit.
Do I pay tax when I sell gold jewelry?
Possibly, depending on the country and the amount. The US taxes gains on collectibles at up to 28%; the UK exempts most chattels sold for £6,000 or less; Canada and Australia have thresholds for personal-use property and collectables. Check official guidance for your situation.
The bottom line
Selling gold jewelry well comes down to three habits: know what your gold is worth, make buyers compete, and never let anyone weigh or test your jewelry out of sight. Sorting by karat and calculating melt value takes a few minutes and can make a difference of hundreds of dollars, pounds or euros on an ordinary jewelry box.
Start by valuing your pieces with the gold calculator, check today's price per gram on the gold price page, and bring your numbers with you when you ask for offers.
Sources
- Kiplinger – Sell your gold safely for a fair price
- FTC – Real government agents aren't asking you to buy and deliver gold bars
- FTC – Buying platinum, gold and silver jewelry
- Kiplinger – How collectibles are taxed
- GOV.UK – Capital Gains Tax on personal possessions
- Canada Revenue Agency – Completing Schedule 3 (personal-use and listed personal property)
- Australian Taxation Office – List of CGT assets and exemptions
Reviewed: September 28, 2026. Values in examples use an illustrative gold price. This article is for general information only and is not financial or tax advice.