You’ve got old gold jewelry — broken chains, single earrings, pieces you’ll never wear again. You’ve heard you can sell it for cash, but you’re not sure how it’s priced or where to go. Here’s the honest breakdown.
Read Your Karat Stamp First
Every piece of US-sold gold jewelry carries a karat (k) stamp indicating its purity. Look inside rings, on clasps, or on earring posts.
| Stamp | Purity | Gold Content |
|---|---|---|
| 24k / 999 | 99.9% | Nearly pure gold |
| 18k / 750 | 75% | Fine jewelry standard |
| 14k / 585 | 58.3% | Most common in the US |
| 10k / 417 | 41.7% | Minimum legal “gold” |
Higher karat = more gold per gram = higher value.
How Spot Price Works
Gold trades on global commodity markets at a daily “spot price” (per troy ounce). No buyer pays full spot — they pay a percentage of it, typically 70–90% for reputable jewelers. That margin covers overhead and refining. If a buyer won’t tell you their percentage, walk away.
The Math Behind Your Offer
The calculation is straightforward:
- Weigh the gold (in grams)
- Multiply by purity (14k = 0.583)
- Convert to troy ounces (÷ 31.1)
- Multiply by spot price
- Apply buyer’s percentage
We do this calculation in front of you, step by step, with no mystery.
Why Local Jewelers Beat Pawn Shops
Pawn shops are generalists. Their model depends on buying low across many categories. They typically offer 30–50% of spot — sometimes less — because they have limited precious metals expertise.
Local jewelers like Edward Jewels & Watches deal specifically in gold. We have direct refiner relationships and a reputation built on fair dealing. We consistently offer 70–90% of spot, and we explain every number.
Beyond the price: we test in front of you, show you the scale, show you the live spot price, and never pressure you to accept on the spot.
Ready to Find Out What Your Gold Is Worth?
Walk in any time — no appointment needed — for a free, no-obligation assessment.
Learn more about our gold buying service.
12709 Interstate 45 N, Suite 200, Willis, TX 77318 | 936-DIAMOND