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 'spot price', which fluctuates during normal trading hours.
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.
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.