Gold Scrap Value Estimator UK 2026 — What's My Gold Jewelry Worth?

UK Gold Hallmark Purity Chart

Hallmark	Carat	Gold Content	Common Use
999	24 carat	99.9%	Bullion, coins, bars
916	22 carat	91.6%	Wedding bands, South Asian jewellery
875	21 carat	87.5%	Middle Eastern jewellery
750	18 carat	75.0%	Engagement rings, fine jewellery
585	14 carat	58.5%	US-imported jewellery
375	9 carat	37.5%	Everyday UK jewellery, chains

Typical UK Dealer Buying Margins

Buyer Type	Typical % of Spot Paid	Notes
High-street cash-for-gold / pawnbroker	65-75%	Fastest, lowest offer, no waiting
Independent jeweller	70-80%	Varies widely by shop
Postal gold buyer / online refiner	78-85%	Often the best rate, but takes days
Bullion dealer (24k/999 only)	90-97%	Only pays near-spot for investment-grade bars/coins

Getting 2-3 quotes before selling typically adds 10-15% to the final price compared to accepting the first offer.

Check Today's Actual Live Gold Rate Before You Sell

The estimator above uses an example 24k price you enter manually — useful for a rough figure, but gold spot prices shift throughout the trading day and by the time you're standing at a dealer's counter, a rate from this morning could already be out of date.

Here's when checking a live, purity-specific tracker actually changes the outcome:

Before walking into a shop: Look up the current price per gram for your exact hallmark (9ct, 18ct, 22ct, etc.) so you know what "100% of spot" looks like before a dealer quotes you a percentage of it.
Comparing multiple dealer quotes same day: If quotes come in hours apart, the underlying spot price may have moved — a live feed tells you whether a lower quote is a bad deal or just a market dip.
Deciding whether to sell now or wait: Gold moves with the GBP/USD exchange rate as well as the dollar gold price — a live GBP-denominated tracker captures both, not just one.
Selling scrap vs. investment coins separately: Investment-grade 24k pieces are valued close to spot, while scrap jewellery is discounted — you need the accurate spot figure first before applying either margin.
Insurance or probate valuations: These need today's actual rate, not an estimate, since the figure may need to be defensible later.

goldpricepergram.co.uk pulls a live spot feed and shows the current UK gold price per gram in GBP for 24k, 22k, 21k, 18k, 14k and 9ct, refreshed three times a day, plus a dedicated scrap gold page showing typical dealer buying rates.

Check Today's Live Gold Price →

How to Weigh and Value Gold Jewelry — Step by Step

1. Find the hallmark

Look inside a ring band, on a bracelet clasp, or on a chain tag for a stamped number: 375, 585, 750, 916 or 999. No hallmark doesn't always mean no gold — older or foreign pieces sometimes use different marking systems — but a dealer will usually test unmarked items before buying.

2. Weigh the item

Use accurate scales (jewellery or kitchen scales that measure to 0.1g). Weigh the whole piece including any clasps, but be aware gemstones and non-gold parts don't add scrap value.

3. Apply the purity fraction

Multiply the 24k gold price per gram by the purity fraction from the hallmark (e.g. 0.375 for 9ct) to get the pure gold content value of your item.

4. Apply a realistic dealer margin

Multiply that figure by 0.70-0.85 to estimate what a typical dealer will actually offer — the exact number depends on the buyer type (see table above).

How This Calculator Works — Formulas & Method

Source: UK hallmarking standards (375/585/750/916/999) · typical UK dealer margin ranges · deterministic calculation — no AI, no arbitrary estimation

Core Constants

Constant	Value	Source
24 carat purity fraction	0.999	UK hallmark 999
22 carat purity fraction	0.916	UK hallmark 916
21 carat purity fraction	0.875	UK hallmark 875
18 carat purity fraction	0.750	UK hallmark 750
14 carat purity fraction	0.585	UK hallmark 585
9 carat purity fraction	0.375	UK hallmark 375
Typical dealer margin range	70%-85% of spot	Industry-typical UK scrap buying range

Scrap Value Formulas

      — Gold content value —

      price_per_gram(purity) = price_per_gram(24k) × purity_fraction

      gold_content_value     = price_per_gram(purity) × weight_in_grams

      — Estimated dealer offer range —

      low_estimate  = gold_content_value × 0.70

      high_estimate = gold_content_value × 0.85

      ← independent jewellers and pawnbrokers cluster near the low end;

         postal/online refiners cluster near the high end

Purity fractions are fixed UK hallmarking standards. Dealer margin range is a typical industry range, not a guaranteed quote — always get an actual quote before selling. The 24k price per gram you enter above is an example figure you provide; for a live, auto-updating rate see goldpricepergram.co.uk.

Transparency & Methodology

Gold Scrap Value Estimator

Independent, Open-Source Tool

A simple client-side calculator applying fixed UK hallmarking purity fractions and a typical dealer margin range. Not affiliated with any dealer, refiner or bullion company.

Methodology & Standards Referenced

Purity fractions (375/585/750/916/999) follow the UK Hallmarking Act 1973, enforced by the UK's Assay Offices — see The Assay Office. The dealer margin range (70-85%) is a typical industry estimate, not a fixed rule.

Not a Dealer or Financial Adviser

This tool gives an indicative estimate only, based on a manually entered example rate — not a live quote. Always get an actual dealer valuation before selling. For the daily benchmark gold price, see the LBMA Gold Price.

Open Source

This calculator runs entirely in your browser — no data sent to a server. Inspect the code on GitHub.

Frequently Asked Questions

How much will a dealer pay for my scrap gold in the UK?

UK gold dealers typically pay 70-85% of the live spot price for scrap gold, depending on the dealer, purity, and quantity. A high-street jeweller or cash-for-gold shop tends to pay toward the lower end (70-75%), while specialist bullion/scrap refiners and online gold buyers often pay 80-85% of spot.

What do the numbers 375, 585, 750, 916 and 999 mean on gold jewelry?

These are UK hallmark purity marks showing parts of pure gold per 1,000. 375 = 9 carat (37.5% gold), 585 = 14 carat (58.5% gold), 750 = 18 carat (75% gold), 916 = 22 carat (91.6% gold), 999 = 24 carat (99.9% pure gold). The higher the number, the purer — and more valuable per gram — the metal.

How is scrap gold value calculated?

Scrap value = weight in grams × 24k spot price per gram × purity fraction × dealer discount factor. The purity fraction comes from the hallmark (e.g. 0.375 for 9ct), and the dealer discount factor (typically 0.70-0.85) reflects the margin a buyer needs to cover refining costs and profit.

Where can I find today's live gold price per gram in the UK?

Gold spot prices move throughout the trading day, so a static example rate goes stale within hours. For a live UK gold price per gram in GBP updated three times daily by purity (24k, 22k, 21k, 18k, 14k, 9ct), use a dedicated live tracker such as goldpricepergram.co.uk rather than a cached figure.

Does gold weight matter more than purity when selling?

Both matter equally in the formula — value is weight × purity fraction × price per gram. A heavy 9ct chain can be worth more in total than a light 22k ring, even though the 22k gold is purer per gram, simply because there is more total gold content by weight.

Should I clean or remove stones before weighing gold for sale?

Dealers weigh and pay for the gold content only — gemstones, pearls and non-gold clasps do not add scrap value and are sometimes deducted by eye. You do not need to clean the item, but removing large non-gold stones beforehand (if easily done) avoids ambiguity in the dealer's weight estimate.

Why do gold buyers offer different prices for the same item?

Buyers set their own margin against the spot price to cover refining, overheads and profit — there is no fixed UK scrap gold rate. Postal gold buyers and specialist refiners often pay closer to spot (80-85%) than pawnbrokers or high-street cash-for-gold counters (70-75%), so getting 2-3 quotes before selling is worthwhile.