Calculate the REAL Value of your Gold
This is the gold calculator that the TV advertising 'Cash for Gold' companies DON'T want you to use.
Cash for Gold adverts, they're everywhere! On television, the radio and the press. You can even pick-up a 'free' gold bag from high street shops and motorway service stations. The adverts are slick and the marketing hype always promise 'Top Prices'. But, have you noticed there's often a crucial piece of information you're never told?... The actual price they'll pay you.
What is your gold REALLY worth?
Postal gold companies and high street gold buyers are in the business to make a profit, that's fair enough. Unfortunately, some companies have taken this to the extreme and are blatantly ripping-off their customers.
Many unsuspecting members of the public are getting paid as little as 20% of the real value for their gold.
This page is here to help you make an informed decision as to whether you're getting a fair deal.
The calculator in the right-hand column of this page will help you work out the real value of your gold. Pricing is based on the current 'gold fix', as set by the London Bullion Market Association. The gold fix price changes twice each working day, once in the morning and once in the afternoon.
You'll need to know two pieces of information to work out the value of your gold:
- The purity / Carat (also spelt Karat) of your gold
- Its weight
If you live in the UK, the Hallmarking Act 1973 stipulates that any item of gold weighing over 1g must be hallmarked. This is your guarantee that the item contains (at minimum) the amount of gold stated. If you need need help identifying a hallmark, check our our gold hallmark guide.
Unfortunately, gold purchased in the USA is subject to lower quality control. The minimum recognized purity for an item to be called 'gold' in the States is 10k. However, under-karating occurs and is impossible for the average consumer to spot.
If possible, weigh your gold on a set of jewellers digital scales. You need to know the weight, in grams, preferably to one-tenth of a gram. Be wary of digital kitchen scales as many units only weigh in increments of 5 grams.
Enter the weight and purity of your gold into our calculator and select your preferred currency. If you've already been offered a price for your gold, enter it in the 'Offer Price' box.
Click the 'Calculate' button and our calculator will give you the real value of your gold.
Getting a fair price
Please bear in mind it's unlikely that you'll find a dealer who'll pay you 100% of the value. Obviously the dealer needs to make a profit and must also cover refining costs, staff wages etc. If you entered the price that you've already been offered, the calculator will tell you the percentage you're being paid.
- Offered less than 60% of the value
Don't sell your gold! The price you have been offered is very poor and you can get a far better price elsewhere. If you've already sent your gold away, request its return immediately.
- Offered between 60-90% of the value
It's not the worst deal, but you could do better. If you haggle or shop around, you should be able to achieve a better price.
- Offered over 90% of the value
The price you have been offered is (in our opinion) a fair deal.
Already sent your gold to a postal 'Cash for Gold' company without receiving an up-front valuation?
We would always recommend that you NEVER send your gold to a 'cash for gold' company if they don't tell you, up-front, what they pay (per gram) for gold.
Please don't be taken-in by the '110% guarantees' or promises of 'top prices'. These statements mean nothing and you will almost certainly receive a poor deal for your gold.
If you've already sent your gold to a postal gold company and you notice there are no prices quoted on their web site, request its return. Even after haggling (which many companies will do), the price will still undoubtedly be low. It's not uncommon for valuations to be doubled when the initial offer is refused. Don't be tempted to accept though!
Takeaways from this guide:
- NEVER send your gold to a dealer who doesn't display the prices they pay on their web site
- Separate your gold according to its purity
- Always accurately weigh your gold (in grams) on digital jewellery scales
- Use our valuation calculator to find out the real value of your gold
- If your dealer offers less than 90% of its real value, shop around and find a better deal.
Have you found this page useful? Please help prevent other people getting ripped-off: