If you have old, broken or unwanted gold jewellery sitting in a drawer, it could be worth considerably more than you realise.
From broken chains and single earrings to rings that haven't been worn for decades, gold jewellery doesn't necessarily lose its underlying value simply because it is damaged, unfashionable or no longer wearable.
At Marcos Jewellery in Manchester, we regularly value and buy unwanted gold from members of the public. One of the most common questions we're asked is:
“How much is my gold actually worth?”
The answer depends on several factors.
What Determines the Value of Your Gold Jewellery?
When valuing gold for its precious-metal content, there are three main things we look at:
1. The Carat of the Gold
Gold purity is measured in carats.
In the UK, some of the most common purities are:
- 9ct gold – 37.5% pure gold
- 14ct gold – 58.5% pure gold
- 18ct gold – 75% pure gold
- 22ct gold – 91.6% pure gold
- 24ct gold – approximately 99.9% pure gold
This means that two pieces of jewellery weighing exactly the same can have significantly different values.
For example, 20 grams of 18ct gold contains twice as much pure gold as 20 grams of 9ct gold.
2. The Weight
Once the purity has been established, weight becomes extremely important.
Gold is typically valued by the gram, so heavier pieces generally contain more gold and therefore have a greater underlying precious-metal value.
This is why chunky chains, bracelets and rings that people may consider outdated can sometimes be surprisingly valuable.
Even smaller items can add up.
A few old rings, a broken bracelet, an unwanted pendant and several single earrings may not look particularly significant individually, but their combined gold weight can result in a worthwhile valuation.
3. The Current Gold Price
Gold is a globally traded commodity, meaning its market price constantly changes.
As the underlying gold price rises and falls, the value of your jewellery changes with it.
This is an important reason why a valuation someone received several years ago may no longer accurately represent what their jewellery is worth today.
Does Broken Gold Still Have Value?
Absolutely.
This is one of the biggest misconceptions we encounter.
A broken gold chain is still gold.
So is:
- A ring that's damaged or bent
- A bracelet with a broken clasp
- A single earring
- An old pendant
- Jewellery with missing stones
- Unwanted inherited jewellery
- Jewellery that's simply no longer your style
When an item is being purchased for its precious-metal content, its condition may have relatively little impact on the underlying gold value.
You don't necessarily need to repair or clean your jewellery before getting it valued.
What About Jewellery Without a Hallmark?
Don't automatically assume that jewellery isn't gold because you can't find a hallmark.
Hallmarks can be extremely small, become worn over time or appear in places that aren't immediately obvious.
Older pieces can also have different markings from modern jewellery.
If you're unsure what you have, it's worth having the item professionally assessed rather than throwing it away or assuming it has no value.
Is White Gold or Rose Gold Worth Less?
The colour of gold doesn't necessarily make it less valuable.
9ct yellow gold, 9ct white gold and 9ct rose gold all contain approximately 37.5% pure gold.
The difference in colour comes primarily from the other metals used within the alloy.
The same principle applies to other gold purities.
Don't Forget About Coins and Other Gold Items
It isn't only jewellery that can contain valuable gold.
Gold coins, bars, grains, nuggets and certain other precious-metal pieces may also have significant value.
However, some coins or jewellery may be worth more than their simple scrap-metal value because of their rarity, history, collectability or craftsmanship.
This is why it can be worth getting an informed valuation before selling.
How Can I Work Out Roughly What My Gold Is Worth?
The basic principle is:
Weight × Gold Purity × Current Pure Gold Value Per Gram
For example, 9ct gold contains 37.5% pure gold.
Therefore:
20g of 9ct gold × 37.5% = 7.5g of pure gold content
The underlying metal value would then depend on the current market value of pure gold.
However, the amount a gold buyer offers will normally be below the full theoretical metal value because businesses need to account for refining costs, processing, market movements and a commercial margin.
The important thing when comparing buyers is understanding what you're actually being offered.
Should I Get More Than One Quote?
For higher-value quantities, getting more than one quote can be sensible.
Ask the buyer:
- What carat have you identified the gold as?
- What weight are you using?
- What price per gram are you paying?
- Are there any deductions or fees?
- What is the final amount I will actually receive?
A reputable buyer should be comfortable explaining how they reached their valuation.
Selling Gold in Manchester
At Marcos Jewellery, we buy unwanted and scrap gold from the public from our Manchester premises.
Customers can bring in old, broken or unwanted jewellery for a straightforward valuation with no obligation to sell.
We buy a wide range of gold items and offer competitive prices based on the item's purity, weight and current gold market conditions.
Whether you've got one old ring or a collection of jewellery that's been sitting untouched for years, it may be worth finding out what you actually have.
If you'd like a quote for your unwanted gold, contact Marcos Jewellery or visit us in Manchester for a valuation.
