The Mulu blog
How Selling Your Gold Works
How gold is tested and valued, what to bring, and how to read a hallmark before you sell.
Broken chains, single earrings and rings you no longer wear still have value. Knowing how a buyer works out a price makes it easier to judge an offer.
Look for the hallmark
Gold jewelry is usually stamped with its purity, often on the clasp or inside the band. Common marks are 10K or 417, 14K or 585, 18K or 750, and 22K or 916. No stamp does not mean no gold: a jeweler can test it.
How the value is worked out
A buyer starts with the weight of the piece and its purity to find how much pure gold it holds, then applies the current market price of gold. Buyers then take a margin to cover refining and their costs. The market price moves daily, so an offer usually applies on the day.
What to bring
- The pieces, including broken ones.
- Government-issued photo ID.
- Any receipts or appraisals you have, especially for pieces with stones.
Before you sell
Ask whether a piece has value beyond its metal. Signed designs, antiques and pieces with significant stones can be worth more than their gold weight, so have those looked at first. It is also fair to ask how the price was calculated.