It is one of the most frequently asked questions and quite possibly one of the key misunderstanding in valuation of gold jewellery!
When it comes to selling gold, there are often misunderstandings about how its value is determined. The price of gold is based on its live market trading value, represented as pounds per troy ounce of fine gold. The purity of gold is measured in carats, with the most common being 9, 14, 18, and 22 carats. Gold is valued at 24 carats or 99.999% purity, so if your jewelry is 9 carats, it contains 37.5% of fine gold. To determine the value of your gold jewelry, you can use a handy web calculator that takes into account the current gold price and the carat weight of your item. Don’t let misunderstandings prevent you from getting the best value for your gold.
You can use this handy web calculator to calculate price of gold in each carat.
Gold jewellery is made in different carats (that is purity or % of fine gold by weight) usually being 9 carat, 14 carat, 18 carat or 22 carat.
Table below shows usual carats in % of fine gold,
| Carat | % of Gold |
| 9 | 37.5% |
| 14 | 58.3% |
| 18 | 75.0% |
| 22 | 91.6% |
So if you have jewellery which is 9 carat, then there would be 37.5% of fine gold in it.
Lets say it weighs 10 grams then it would have 3.75gm (10gms X 37.5%) of fine gold. So, if gold price is £1,450 per troy ounce today then your jewellery would be valued as 3.75gm X £46.61/gm = $174.78
In conclusion, understanding the valuation of gold jewellery is important before you decide to sell it. The purity of gold jewellery is measured in carats and the price of gold is determined by its purity and weight. Knowing the current market price of gold can help you get the best deal when selling your jewellery. By using the calculation methods and handy web calculators, you can easily determine the value of your gold jewellery based on its weight and purity. With this information, you can approach gold dealers with confidence and negotiate the best possible price for your gold.
