How Much Will I Get If I Sell My Gold?
How Much Will I Get If I Sell My Gold?
If you have old jewelry, a broken chain, or coins sitting in a drawer, the question is simple: what is it actually worth? The honest answer depends on three things: the day's gold spot price, the purity of your gold, and its weight.
Where the "Karat" Actually Comes From
Here is a piece of trivia that explains a lot: the word "karat" comes from the carob seed. Ancient gold traders in the Mediterranean noticed that carob seeds were remarkably uniform in weight, so they used them as tiny counterweights on balance scales when weighing gold and gemstones. That ancient unit of measure evolved into the karat system we use today, where 24 karat means pure gold.
The Three Numbers That Set Your Payout
- Spot price. Gold trades on a global market and the price per ounce changes throughout the day. This is the baseline every offer starts from.
- Purity, measured in karats. 24K is pure gold (100%), 18K is 75% gold, 14K is about 58% gold, 12K is 50%, 10K is about 42%, and 9K is roughly 37.5%. The higher the karat, the more gold is actually in your piece.
- Weight. Precious metals are weighed in troy ounces or grams, and every gram counts toward your final offer. Our team weighs your gold on a certified scale in front of you.
A Simple Way to Estimate Melt Value
Say you have an 18K gold chain weighing 7 grams. At 75% purity, it contains 5.25 grams of pure gold. Converting to troy ounces (1 gram equals about 0.032 troy ounces) gives roughly 0.168 ounces of pure gold. Multiply that by the current spot price per ounce, and you have a rough estimate of melt value. This number moves daily with the market, so it is only a starting point, not a guarantee.
Melt Value vs. What Your Piece Might Actually Be Worth
Most jewelry is priced at melt value, meaning the raw value of the gold itself. But some pieces are worth more intact than melted down. A signed designer piece from a house like Cartier or Van Cleef & Arpels, a well-preserved antique, or a coin with numismatic value to collectors can be worth significantly more than its gold content alone.
Costs That Can Reduce Your Payout
Before you sell, factor in costs that some sellers overlook: assaying fees to verify purity if a piece is unmarked, transaction fees of 2-3% that some online buyers charge, and shipping or insurance costs if you are mailing gold to an out-of-town buyer. Selling in person to a local buyer avoids most of these entirely.
Get an Accurate Offer Today
Use our payout calculator to check today's live gold spot price, then bring your gold to any of our four Texas locations, Houston, Austin, Sugar Land, or The Woodlands, for a same-day cash offer. Visit our gold buying page to learn more about the process before you come in.
Frequently Asked Questions
How is the price of gold determined when selling?
By three factors together: the current market spot price, the purity or karat of your gold, and its weight. The spot price sets the baseline per ounce, and purity and weight determine how much of that value applies to your specific piece.
Should I sell to a jeweler, pawn shop, or online buyer?
Each has trade-offs. Local jewelers and pawn shops offer immediate payment but often lower prices due to overhead. Online buyers can offer competitive prices but add shipping and transaction costs. Comparing offers from a few reputable options is the best way to know you're getting a fair price.
Are there fees I should watch for when selling gold?
Yes. Watch for assaying fees, online transaction fees (typically 2-3%), and shipping or insurance costs if mailing your gold. Selling in person to a local buyer typically avoids most of these.
Can I sell broken or damaged gold jewelry?
Yes. Broken chains, single earrings, and damaged pieces still contain the same amount of pure gold, so they retain their melt value even if they can't be worn or repaired.
Ready to find out what your gold is worth? Learn more about our buy-back program or schedule a free evaluation at any of our Texas locations today.
