Karats, weight and the spot price: a plain-English guide to valuing gold jewelry.
Gold's value comes down to three things: purity, weight and the current market price, known as the spot price.
Purity (karats)
24K is pure gold. 18K is 75% gold, 14K is 58.3% and 10K is 41.7%. Look for a stamp inside a ring band or near a clasp, though we always verify with testing.
Weight
Gold is weighed in grams or pennyweight (dwt) and priced in troy ounces. One troy ounce is about 31.1 grams.
Melt value vs. resale value
Melt value is the gold content multiplied by spot. Designer pieces, antique jewelry and items with diamonds are often worth more than melt, and that's something we take into account.
