Question 1

How much is my gold worth?

Accepted Answer

The value of your gold depends on its weight, karat purity, and the current spot price. Use our free gold calculator to get an instant melt value estimate. For example, 10 grams of 14K gold is worth approximately $880 USD at current prices.

Question 2

What percentage of melt value should I expect when selling gold?

Accepted Answer

When selling scrap gold or jewelry, dealers typically pay 70-90% of the melt value. Getting 85-90% is an excellent deal, 75-85% is fair, and below 65% means you should shop around for a better offer.

Question 3

What is the difference between 14K, 18K, 22K, and 24K gold?

Accepted Answer

The karat number indicates gold purity. 24K is 99.9% pure gold. 22K is 91.67% gold (common in India and Middle East). 18K is 75% gold (common in Europe). 14K is 58.33% gold (common in North America). Higher karat means more gold content and higher melt value.

Question 4

How much markup is normal when buying gold jewelry?

Accepted Answer

For gold bullion (bars and coins), a 2-7% markup over spot is normal. For simple jewelry like plain chains, 15-30% over melt value is fair. For crafted jewelry like byzantine chains, 25-45% is typical. For designer or branded jewelry, 50-200%+ markups are common.

Frequently asked questions