How Much Is My Gold Worth?
The value of your gold comes down to three things: how much it weighs, how pure it is, and today's gold price. Here's exactly how to work it out.
The gold value formula
Every gold valuation uses the same simple formula:
The spot price is the live market rate for pure gold. Weight is how much your item weighs. Purityis how much of that weight is actually gold, expressed as a decimal. Get all three right and you have the item's melt value — the value of the pure gold inside it.
Step 1 — Weigh your gold
Use a small digital scale in grams, or a jeweler's scale in pennyweights (dwt). One troy ounce = 31.1035 grams = 20 pennyweights. Weigh each purity separately — don't mix a 14K ring with an 18K chain, because they're worth different amounts per gram.
Step 2 — Identify the karat (purity)
Look for a tiny stamp (hallmark) on the clasp, band, or back of the piece. Karat tells you the gold content:
| Karat | Gold content | Purity (decimal) |
|---|---|---|
| 24K | 99.9% | 0.999 |
| 22K | 91.7% | 0.917 |
| 18K | 75.0% | 0.750 |
| 14K | 58.3% | 0.583 |
| 10K | 41.7% | 0.417 |
No stamp? A buyer can test it with acid or an XRF analyzer. Beware of "gold-plated" or "GF/GP" marks — these have only a thin gold layer and little scrap value.
Step 3 — Multiply by the live price
Example: a 10-gram 14K chain when gold is about $4,000/oz. Convert weight to troy ounces (10 ÷ 31.1035 = 0.3215 oz), then multiply by purity and spot price: 0.3215 × 0.583 × $4,000 ≈ $750 melt value. Our calculator runs this instantly with the real-time price.
Melt value vs. what a buyer pays
Melt value is the ceiling, not the offer. A gold buyer needs to cover refining costs and make a profit, so real offers are usually 60–85% of melt value depending on the buyer, quantity, and your negotiation. Knowing the melt value first is your best protection against a lowball offer.
Frequently asked questions
How do I calculate what my gold is worth?
Multiply three numbers: the current gold spot price, your item's weight in troy ounces, and its purity as a decimal (e.g. 14K = 0.583). The result is the melt value — the worth of the pure gold it contains. Our calculator does this instantly with live prices.
Why is my gold worth less than the spot price?
The spot price is for pure, 24K gold. Jewelry is an alloy — 14K is only 58.3% gold — so you are paid on the actual gold content. Buyers also keep a margin (typically 10–30%) to cover refining and profit, so a real offer is below the melt value.
Does the diamond or gemstone add to the value?
When selling to a gold buyer, stones are usually valued separately or not at all — most gold buyers pay for the metal content. Diamonds and colored stones need a specialist appraisal, and their resale value is typically far below retail.
Should I clean my gold before getting it valued?
Gentle cleaning improves presentation but does not change the metal value, which is based on weight and purity. Never file, melt, or damage a piece — and keep any hallmarks readable so the karat can be verified.