Understanding Gold Purity and Hallmarks
If you own gold jewellery and have ever wondered what it is truly worth, the first thing to understand is gold purity. Pure gold, known as 24 carat (24ct), is too soft for most jewellery, so it is alloyed with other metals to create harder, more durable pieces. The carat rating tells you exactly how much pure gold is present in the alloy.
Common Gold Carats Explained
The most common gold purities you will encounter in the United Kingdom are:
- 9ct gold (375): contains 37.5% pure gold, mixed with metals such as copper, silver, and zinc. This is the minimum purity that can legally be sold as gold in the UK. It is durable and affordable, making it the most common carat in British jewellery.
- 14ct gold (585): contains 58.5% pure gold. Less common in the UK than in continental Europe and North America, but increasingly popular in modern jewellery design.
- 18ct gold (750): contains 75% pure gold. Prized for its rich colour and often used in high-end and designer jewellery. It offers an excellent balance between purity and wearability.
- 22ct gold (916): contains 91.6% pure gold. Traditional in Asian and Middle Eastern jewellery, particularly wedding bangles and ceremonial pieces. Very soft, so less suited to items that see heavy daily wear.
- 24ct gold (999): virtually pure gold. Rarely used in jewellery due to its softness, but common in investment bars and coins. Some speciality jewellery from East Asia is made in 24ct gold.
The UK Hallmark System
The United Kingdom has one of the oldest and most rigorous hallmark systems in the world, dating back to the fourteenth century. A hallmark is an official stamp applied to precious metals after testing by one of the four assay offices: London (leopard's head), Birmingham (anchor), Sheffield (York rose), and Edinburgh (castle).
A complete UK hallmark typically includes:
- The sponsor's mark: the maker's or retailer's registered initials
- The fineness mark: a number indicating the parts per thousand of pure gold (e.g., 375 for 9ct, 750 for 18ct)
- The assay office mark: the symbol identifying which office tested the item
- The date letter (optional on modern pieces): a letter indicating the year of hallmarking
Being able to read a hallmark gives you immediate, reliable information about the gold content of your jewellery. For a detailed guide to interpreting every element of a UK hallmark, see our complete guide to UK gold hallmarks. If you cannot find a hallmark, the piece may be foreign (not all countries require hallmarking), very old (pre-1854 hallmarks differed), or it may not be gold at all. Our guide on spotting fake gold and counterfeit items explains the telltale signs to look for.
How Gold Is Valued
The value of gold jewellery is determined by a straightforward calculation, though several factors can influence the final figure. At its most basic, the formula is:
Weight (grams) x Purity (decimal) x Spot Price (per gram) = Gold Melt Value
Understanding the Spot Price
The gold spot price is the current market price for one troy ounce (31.1 grams) of pure gold, quoted on commodities exchanges worldwide. It fluctuates throughout each trading day based on supply, demand, economic conditions, and geopolitical events. As of early 2026, gold has been trading at historically elevated levels, making it an excellent time to consider selling. For a deeper look at market cycles and the best windows for selling, see our guide on the best time to sell gold.
To work out the per-gram price, divide the troy ounce price by 31.1. For example, if gold is trading at £1,800 per troy ounce, one gram of pure gold is worth approximately £57.88.
Scrap Value vs Retail Value
The distinction between scrap value (also called melt value) and retail value matters here. Scrap value is what the gold content alone is worth if the piece were melted down and refined. Retail value, the price you would pay for the item in a shop, is typically much higher because it includes the cost of design, craftsmanship, brand markup, and retail overheads.
When you sell gold jewellery, most buyers will offer a percentage of the scrap value, not the retail value. This percentage is known as the spread or margin, and it covers the buyer's costs of refining, transport, insurance, and profit. A reputable buyer will typically offer between 85% and 95% of the melt value for standard scrap gold. For a full breakdown of how this calculation works in practice, see our guide on how we calculate your gold cash offer. It is also worth understanding the difference between insurance valuations and resale value, as these are often confused.
Worked Example
Suppose you have an 18ct gold chain weighing 25 grams and the current spot price is £1,800 per troy ounce (£57.88 per gram):
- Pure gold content: 25g x 0.750 (18ct purity) = 18.75g of pure gold
- Melt value: 18.75g x £57.88 = £1,085.25
- Typical offer (90% of melt): £1,085.25 x 0.90 = £976.73
This example illustrates why knowing your gold's carat and weight is so powerful. You can estimate the ballpark value before speaking to any buyer.
Common Gold Testing Methods
Whether you are assessing your own jewellery or having it tested by a professional, there are several methods used to determine whether an item is genuine gold and to confirm its purity.
Visual Inspection and Hallmark Reading
The simplest starting point is to look for a hallmark or purity stamp using a jeweller's loupe (a small magnifying glass, typically 10x magnification). Genuine UK gold will bear the hallmark stamps described above. Foreign gold may carry different stamps, for example 750 (18ct) or 585 (14ct) without the traditional British assay marks.
Be aware that hallmarks can be faked, worn away over time, or difficult to read on very small pieces. A hallmark is a strong indicator but not absolute proof of gold content.
The Acid Test
The traditional acid test remains widely used. A small sample of metal is scraped onto a touchstone (a flat, dark stone), and a drop of acid of known strength is applied. Different acids test different carats; if the streak dissolves, the gold is below the tested purity; if it remains, it is at or above that purity.
The acid test is destructive only to the tiny sample on the touchstone, not to the jewellery itself. It is accurate and inexpensive, which is why many buyers still rely on it.
Electronic Gold Testers
Handheld electronic testers use electrical conductivity to estimate gold purity. They are portable, easy to use, and non-destructive. While they work well as a screening tool, professional buyers typically combine them with acid testing for the most reliable results.
The Magnet Test
A simple magnet test can help identify obvious fakes. Gold is not magnetic, so if a piece is strongly attracted to a magnet, it is not solid gold. However, this test cannot distinguish between gold and other non-magnetic metals (such as copper or brass), so a negative magnet test alone does not confirm that an item is gold.
Some gold alloys contain small amounts of nickel or other metals that may produce a very faint magnetic response. A strong, obvious attraction to the magnet is the red flag; a barely perceptible response may warrant further testing rather than immediate dismissal.
Specific Gravity Testing
Specific gravity (or density) testing is a non-destructive method that measures the density of the metal by comparing its weight in air to its weight suspended in water. Pure gold has a specific gravity of 19.3, and the density of gold alloys decreases predictably with lower purity. This method requires a precision scale and some calculation but can be done at home with care.
Professional buyers may use specific gravity testing as a supplementary check, particularly for items without hallmarks or for large items where acid testing would be impractical.
Factors Affecting Gold Jewellery Value
While the gold content provides the baseline value, several additional factors can make a piece worth significantly more than its scrap value.
Maker and Brand
Jewellery by renowned makers commands a premium. A gold bracelet from Tiffany & Co., Cartier, or Bvlgari will be worth more than an unbranded piece of the same weight and purity, because collectors and buyers recognise the design heritage and craftsmanship associated with these names.
Even lesser-known but respected makers, particularly British goldsmiths with a history of fine craftsmanship, can add value. Look for sponsor's marks in the hallmark that identify the maker.
Age and Period
Antique and vintage gold jewellery often carries a premium above scrap value. Georgian (pre-1837), Victorian (1837-1901), Edwardian (1901-1910), and Art Deco (1920s-1930s) pieces are sought after by collectors and dealers. Our guide to Georgian jewellery explores one of the most valuable periods in detail. The age of a piece can sometimes be determined from the hallmark date letter, the style of construction, or the type of gemstone settings used. If you have inherited a collection, our estate jewellery guide for families provides compassionate, practical advice.
Rarity and Design
Unusual designs, limited-edition pieces, and items with exceptional craftsmanship can command prices well above melt value. This is particularly true for pieces that are representative of a specific design movement or that display techniques no longer commonly practised.
Gemstones and Other Materials
Gold jewellery set with diamonds, sapphires, rubies, emeralds, or other precious stones can be worth considerably more than the gold alone. The gemstones are valued separately based on their own quality criteria — our diamond 4Cs guide explains this in depth, and our coloured gemstone valuation guide covers sapphires, rubies, emeralds, and more. Even semi-precious stones such as garnets, opals, and amethysts can add value.
Historical Significance and Provenance
Items with a documented history, particularly those connected to notable individuals, events, or collections, can carry a significant premium. Provenance (the documented chain of ownership) adds both financial and historical value.
Weight and Size
While this may seem obvious, heavier pieces contain more gold and are therefore worth more at melt value. Large chains, heavy bangles, and solid (not hollow) items will yield the highest returns. Hollow jewellery, common in lighter, more affordable pieces, contains less gold by weight than it appears and will be valued accordingly. A professional buyer will always weigh your items accurately using calibrated scales.
Where to Sell Gold Jewellery
When you decide to sell your gold, you have several options, each with its own advantages and drawbacks.
High-Street Buyers and Pawn Shops
These are the most visible option and offer the convenience of being able to walk in off the street. However, high-street buyers typically have significant overheads (rent, staffing, rates) which can mean lower offers. Pawn shops may also focus on lending rather than outright purchase, and some use aggressive sales tactics.
Online Gold Buying Services
Postal gold-buying services ask you to send your items by post for assessment. While some are reputable, this approach carries obvious risks: your items are out of your possession during the valuation process, and you cannot observe the testing. If you decline the offer, your items must be posted back, adding further risk.
Auction Houses
For high-value or antique pieces, auction houses can achieve excellent prices through competitive bidding. However, auctions involve seller's fees (often 15-25% plus VAT), waiting time (items may not sell for weeks or months), and no guarantee of sale. For standard gold jewellery, the fees and delays rarely make financial sense.
Specialist Buyers like South Coast Jewellers
A specialist buying service such as South Coast Jewellers offers the best of several worlds. With over two decades of specialist experience, we bring professional testing equipment — including acid testing kits, electronic gold testers, and precision scales — to your home, assess your items in front of you, explain our methodology transparently, and make an immediate cash offer with no obligation. There are no fees, no postage risks, and no waiting for auction results. Unlike high street shops, we have minimal overheads, which means we can offer significantly better prices.
Our home-visit service is particularly valued by clients who have inherited jewellery, are downsizing, or simply prefer the privacy and convenience of a home appointment. We cover the entire South Coast, from Bournemouth and Poole to Southampton, Portsmouth, and Winchester — see our full areas we cover page for details.
Getting the Best Price for Your Gold
If you are thinking about selling gold jewellery, these practical tips will help you get the fairest possible price.
Know Your Hallmarks
Before speaking to any buyer, examine your jewellery with a magnifying glass and identify the hallmarks. Knowing whether your piece is 9ct, 18ct, or 22ct gold gives you a starting point for estimating value and helps you assess whether an offer is reasonable.
Weigh at Home
Invest in a simple digital kitchen scale (accurate to 0.1 grams) and weigh your items. This, combined with the hallmark information and the current spot price, allows you to calculate a rough melt value. You do not need to be precise; the goal is to have a ballpark figure for comparison.
Get Multiple Quotes
As with any significant transaction, it pays to shop around. Get valuations from at least two or three buyers before accepting an offer. We actively encourage this — we are confident our prices compete. Our guide to the top-rated jewellery buyers in Dorset can help you identify reputable options. Be wary of any buyer who pressures you to accept immediately or who offers significantly less than others without a clear explanation.
Understand the Spread
Remember that all buyers need to make a margin. An offer of 85-95% of melt value is typical and fair for standard scrap gold. If a buyer is offering less than 80%, or if they cannot explain their pricing clearly, consider looking elsewhere.
Timing Matters
Gold prices fluctuate daily, and broader economic trends can move the price significantly over weeks and months. While it is impossible to time the market perfectly, being aware of the current price trend can help you decide whether to sell now or wait. As of early 2026, gold prices remain at historically strong levels, having risen significantly over the past five years.
Keep in mind that gold tends to perform well during periods of economic uncertainty, inflation, and geopolitical tension. If you are watching the news and seeing headlines about inflation concerns or global instability, there is a good chance the gold price is elevated, and by extension, so is the value of your jewellery.
Separate Your Carats
If you have multiple items of different purities, sort them by carat before your valuation. This shows the buyer that you are informed and makes the valuation process quicker and more transparent. Use small bags or envelopes labelled with the carat. For example, group all your 9ct pieces together and all your 18ct pieces separately.
Check for Gemstones and Special Features
Before selling, take a close look at your pieces for any gemstones, even small ones. Diamonds, rubies, sapphires, and emeralds, even when small, can add meaningful value on top of the gold content. Similarly, signed pieces (those bearing a recognisable maker's mark) or items with unusual design features may be worth more than scrap.
If you spot gemstones or a maker's mark, mention this to the buyer. A good buyer will factor these into the valuation, but drawing attention to them ensures nothing is overlooked.
Be Realistic About Sentimental Value
One of the most difficult aspects of selling gold is separating sentimental value from market value. A ring that your grandmother wore every day for fifty years is priceless to you in emotional terms, but its financial value is still determined by weight, purity, and market conditions. Understanding this distinction will help you evaluate offers fairly and make decisions you are comfortable with.
Frequently Asked Questions
Is it worth selling broken gold jewellery?
Absolutely. Broken chains, single earrings, bent rings, and other damaged items still contain gold, and their scrap value is based purely on weight and purity, not on condition or wearability. Many people are surprised by how much their broken or unwanted gold is worth. Our guide on the hidden value in broken and unwanted gold explains this in detail.
How do I know if my gold jewellery is real?
The most reliable indicators are UK hallmarks stamped on the piece. If there are no hallmarks, the item may still be gold (particularly if it is foreign or very old), but it will need to be tested. A professional buyer will test items free of charge using acid testing and electronic analysis.
What happens to the gold after I sell it?
Most gold purchased by buyers is sent to a refinery, where it is melted down, purified, and re-cast into bars or used to create new jewellery. Pieces of particular artistic, historical, or maker interest may be resold intact to collectors or dealers.
Can I sell gold-plated jewellery?
Gold-plated items have only a microscopic layer of gold over a base metal and are generally worth very little in terms of gold content. However, some gold-plated costume jewellery by notable designers does have collectible value. If you are unsure, it is always worth asking, and a reputable buyer will test the item and let you know honestly.
Does the current gold price affect how much I will get?
Yes, directly. The gold spot price sets the baseline for all gold valuations. When the spot price rises, so does the value of your gold jewellery, and vice versa. This is why the timing of your sale can make a meaningful difference.
If you have gold jewellery you would like valued, South Coast Jewellers offers a completely free, no-obligation home-visit valuation service across Bournemouth, Poole, Southampton, Portsmouth, Winchester, and the whole South Coast. Our experts use professional testing equipment and will explain exactly how we arrive at our offer. Whether you have a single ring or a boxful of inherited pieces, we provide cash for gold at prices based on the live spot rate. Learn more about selling your gold jewellery or selling your precious metals.